Market Update: Bitcoin At $4000+ Again, Ethereum Touching $300, Steem At $1.20, Altcoins Soaring
Hi everyone. This market update will cover the "overnight surge" of BTC to the $4000+ range, Ethereum's soar to $300, and Steem's gain to $1.20. We'll also go over the state of the crypto market and touch upon other altcoins. Let's dive in!
Bitcoin at $4000+ again!
After a crash to around $3000 in the past weeks due to news from China about banning exchanges plus comments from Jamie Dimon (Chase Bank CEO) about Bitcoin, we're back at $4000+ and rising! This $1000 recovery shows the great strength, liquidity, and power of Bitcoin and serves as a slap in the face to naysayers like Dimon:
Just in the past 24 hours, Bitcoin increased by nearly $500 (almost 15%) and is still increasing in price. We're currently at a 24-hour volume of over $1.8B and a market cap of over $67B.
This is great news for all Bitcoin holders, traders, and cryptocurrency investors in general.
Steem At $1.20
Just like Bitcoin (and many other cryptocurrencies), Steem also experienced huge growth of over 13% over the past 24 hours, and is now trading at $1.20! This is a huge gain from the lowest parts of the recent dip, where it was trading at well under a dollar.
Also, Steem Dollars (SBD) experienced a huge increase of almost 16% to $1.09 right now (nine cents over a dollar)!
The rises of Steem and Steem Dollars are both amazing news for all users of Steem.
Ethereum Touching $300
Overnight, Ethereum rose by a remarkable over 20% ($50) in price and is currently at about $300!
With a market cap of $28B, Ethereum is the second largest crypto after Bitcoin and is known for its usage of smart contracts and decentralized applications. This is great news for all Ethereum holders and smart-contract cryptos in general.
Crypto Market Soaring
The market itself is doing very well, with every single coin in the top 50 (excluding USDT, which is always $1) posting an increase in the past 24 hours, many of them huge increases (10-30%). Here are the top ten cryptocurrencies:
Notice that 9 out of the 10 cryptos rose by over 10% in the past day! As such, the crypto market cap also increased greatly from less than $130B to $145.4B currently, with a 24-hour volume of almost $5B.
This is all great news for cryptocurrencies, and I hope it shows naysayers like Dimon and legislators like China that Bitcoin is an unstoppable force.
Thanks for reading,
— @mooncryption
image source: All images are from CoinRanking.com as usual :)
update (9/18/17 22:34 UTC): We're at $4100 now for Bitcoin, and still rising! This is over a thousand dollars up from the "crash" :)
Update: We're at $4100 now, and still rising!
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