In brief
- Bitcoin has had a slow couple of days.
- But it’s still up for the week and the year.
- Some altcoins are slowing down, too.
The price of Bitcoin continues to rise, though the gains have been coming less regularly over the past few days.
It’s up just 0.57% today, after falling by almost 4% yesterday. Its current price is 19,119.
Bitcoin’s recent stagnation is a blip in the scheme of things—Bitcoin has risen nearly 10% this week, and the price is still holding fast over $19,000.
At the start of the week, Bitcoin hit $19,846, breaking its previous all-time highof $19,738.
Other cryptocurrencies have trailed Bitcoin in its stagancy. The second-largest cryptocurrency by market cap, Ethereum, is up just over 1% today to $593, but still had a 12% gain this week. XRP, which recently surpassed Tether as the third-largest cryptocurrency by market cap, is down around 1.6% today, and down over 4% for the week; it’s now sitting at $0.58.
The stagnation is reflective of a larger pattern in the crypto market; the overall market cap has increased by just 0.78% today, to $565 billion.
And it may not last long, either—Pedro Febrero, a researcher at the blockchain analysis firm Quantum Economics, told Decrypt that “bitcoin should rebound soon, as long as buyers continue to join the market.”
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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