Hi everyone. This market update article will cover Bitcoin's break through $4k once again, Steem's surge of almost 10%, and Neo's impressive gains in the past few days.
Let's get started.
Bitcoin Breaks Through $4000 Barrier
After a rocky week with lows of below $3600, Bitcoin has been continually testing the $4000 barrier, and finally today, it has broken though. BTC is currently trading at over $4200, with a market cap of over $67.8B:
Following what happened in July, we could see another huge increase/rally to $5k or even more, depending on investors' decisions. Additionally, it looks like most holders are simply shrugging off negative news from China at this point, which is good news for Bitcoin.
Steem Surged by 8% Overnight
STEEM also surged along with Bitcoin, from a low of $1.08 to its current trading price of $1.18. This is an impressive, yet expected increase for a cryptocurrency with lots of potential.
Even with all of this attention, STEEM still has a market cap of less than $0.29B, so it's still safe to stay we are in the very early stages. As always, it's a great time to invest in STEEM, because of its proven potential/utility and because of the low prices we can get in on right now.
Neo Keeps on Rising
Neo, often called "Chinese Ethereum," generally gets very affected by news from China, however things are starting to pick up as Neo went through many impressive rises in the past few days.
Over the past 24 hours alone, Neo rose by over 20% (currently trading at above $32) and this uptrend has been continuing for a few days.
Other Impressive Coins
Let's also take a look at some other popular coins with impressive rises:
Ripple has also had a great rise of over 12% in the past 24 hours, currently trading at about $0.208.
ZCash, a more privacy-centric coin, is currently trading at $286+ which is almost 25% above yesterday.
Waves is another interesting utility coin with its own decentralized exchange. Right now it's 10% up from yesterday.
The crypto market as a whole is doing pretty well, at a market cap of over $147B and a 24-hour volume of over $3B. It looks like governments are also starting to take cryptocurrencies seriously, with organizations such as the SEC even creating special departments to govern them.
Thanks for reading,
image sources: All images are from CoinRanking.com, as usual.
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edit (5:05pm PST): We're currently trading at upwards of $4200 for Bitcoin, as many analysts predict a $5k moon!