Economy

Crypto Market Continues to Show Green Candlesticks, BTC Recovers to $8,200

Crypto Market Continues to Show Green Candlesticks, BTC Recovers to $8,200”

Commodity trading veteran Peter Brandt suggests that the bottom might be already in for Ethereum (ETH), the second largest cryptocurrency by market capitalization. The price has risen more than 7% since then.

Bitcoin started the trading day at around the $8,000 price level and has been slowly crawling upward to its current price point of $8,234, showing a gain of 5.35% in the last 24 hours. The coin has gained over 3.5% of its value in recent 24 hours and stayed unchanged since the beginning of the day. "This would imply that the forthcoming halving effect has hardly been priced into the current Bitcoin price of approximately Dollars 8,000".

Ether (ETH) is up 2.07% on the day, trading at nearly $178 at press time.

At pixel time (09:32 UTC), XRP trades at c. Dollars 0.2686 and is up by 5.6% in the past 24 hours and by 7% in the past week.

While a few of the top 20 coins report losses at press time, XRP is seeing a sharp growth of over 8%.

Ether seven-day price chart.

After major cryptocurrency payment processor BitPay had partnered with Ripple's investment arm Xpring to support payments with XRP on October 2, XRP has seen a sharp growth today - up over 9% over the past 24 hours.

XRP's seven-day price chart. At press time, the altcoin is trading at $0.28, seeing almost 16% growth over the past 7 days. TRX is one of the best-performing altcoins out of top-20.

The overall cryptocurrency market cap increased from $214 billion to nearly $221 billion, with Bitcoin making up 66.6% of the total.



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