Bitcoin Treads towards $7500 Mark and Markets are Still Climbing
The 21st of July has seen cryptocurrency markets continue operating positively, remaining in the green for most of today. The ten leading alternative coins are efficiently picking up momentum and climbing as far as eight percent gains. Bitcoin has pushed upwards, almost valuing at $7500 which would set another high compared the previous months of its robust bearish trend.
As of now, Bitcoin is priced at $7426, barely climbing one percent in 24 hours. It’s single day trade saw a drop to $7246. The second major alternative coin, ETH, has climbed much higher in just one day, pulling itself close to five percent and valued at $466 on the market. After its high on the 18th, Ethereum was priced at over $500.
The cryptocurrency total market cap is somewhere between $282B and $283B and remains steady at $282B, a little over two percent in one day. This week saw a total market capitalization of $300 billion USD, although the count has dropped since.
XLM and IOTA, two major leading altcoins saw positive gains with Stellar climbing seven percent and IOTA gaining close to five percent in growth. Cardano's ADA coin is in the last place in terms of positive gains on the daily market, climbing a mere 1.5 percent although an incredible weekly-overall growth of 23 percent has been achieved by the coin.
On the 20th of July, the CME stated that Bitcoin futures 24 AV climbed a massive 92 percent in the second quarter of 2018 over the first three months. Bitcoin futures’ open-end contracts have climbed up close to 60 percent. After Arthur Hayes made another one of his ambitious predictions that Bitcoin would see a huge drop to the $5K mark before climbing past its all-time high of $20000 in 2017 and reaching a new peak of $50K in price.