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October 20, 2019
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cryptocurrency market

Cryptocurrency market update: Bitcoin settles above $8,000, altcoins follow the lead

  • Bitcoin has gained over 2% of its value and broke above $8,000, the next barrier is seen at $8,200
  • Litecoin is the worst performing cryptocurrency of the day, down 3%.

The cryptocurrency market has switched back into a bullish mode with Bitcoin and all major altcoins except for Litecoin showing substantial gains. The cryptocurrency market capitalization increased to $260 billion from $253 billion on Wednesday; an average daily trading volume crept to $65 billion amid growing trading activity.

Top-3 coins price overview

  • BTC/USD settled above $8,000 after a strong upside move on Wednesday. At the time of writing, BTC/USD is changing hands at $8,118, off the intraday high of $8,196. The coin is vulnerable to correction due to a host of selling orders located on the approach to the critical $8,200.
  • Ethereum, the second largest digital asset with the current market capitalization of $27.5 billion, recovered to $260 handle after a drop below $230 on Monday. The coin has grown by 4.5% in recent 24 hours and moved into positive territory on a weekly basis.
  • Ripple’s XRP is hovering below $0.40, as the bullish momentum cannot gain traction. The third largest coin with the current market capitalization of $17.1 has gained 2.3$ from this time on Wednesday to trade at $0.4052 by press time.
  • The biggest market-movers
  • Litecoin (LTC) has turned from the growth leader to an outsider. The 12th largest coin with the current market capitalization of $8.3 billion has lost over 3% in recent 24 hours to trade at $135.60 by press time.
  • Cardano (ADA) is a strong performer today. The coin is changing hands at $0.0946, with over 7% of gains.

source: https://www.fxstreet.com/cryptocurrencies/news/cryptocurrency-market-update-bitcoin-settles-above-8-000-altcoins-follow-the-lead-201906130445

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