Bitcoin prices have registered a jump of 600 USD in the past hour. The cryptocurrency market has been down for almost a month now, towing below 7k USD. The other cryptocurrencies like Moner, EOS, Cardano, and NEM have also shown a significant increase in prices.
Bitcoin market cap increases by >$10bn, total cryptocurrency market cap increases by > $20 bn
As per data from coinmarketcap, at the time of writing the latest Bitcoin price was $7331 that is approx. $600 higher than the $6700 just below an hour.
The sudden increase led to an approx. 10% growth in bitcoin price in under an hour. Not only this the sudden rise in prices is supported by an increase in total market cap also. The total market cap of cryptocurrencies registered an increase of more than $20 bn USD.
As per coinmarketcap data, at the time of writing the total market cap was standing at $294 bn against approx.$272 bn just a few minutes back.
The total market cap of bitcoin also gained around $10 bn and is currently standing at $126 bn as against $116 just a few minutes back.
As is always the trend the rise in bitcoin prices is followed other coins also and the cryptocurrency market has currently turned green. As per coinmarketcap data cryptocurrencies other than bitcoin are also enjoying the rise in prices. If we look at top coins XRP, Monero, Cardano, NEO have gained above 8% increase in prices. Qtum, Stratis, and Wanchain have registered above 10% growth in prices.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com