Business 11 April 2019

Gerald Fenech

Crypto market daily report – April 11, 2019

The cryptocurrency markets experienced a considerable retracement in the past 24 hours with all major currencies dropping by the high single digits. Bitcoin Core (BTC) rose to the $5,400 mark late on Wednesday but after settling at just below that mark, it dropped to around $5,150 on Thursday morning at press time. Ethereum (ETH) was also down by around 6% to the $170 level after having risen to the $185 mark on Wednesday. EOS also was back slightly from its Tuesday high, when it had risen to almost the $6 level but decreased by 3% to the $5.60 mark.

Ripple (XRP) continued to decline notwithstanding the positive news surrounding the cryptocurrency and it was trading at around $0.335 at press time on Thursday after having reached the $0.36 mark midweek. BCHABC was also down to the $280 level after having once again topped the $300 mark on Wednesday—a decline of around 6% overall. Stellar (XLM) and NEO experienced considerable drops with almost all the gains made over the past week evaporating into nothing. The former was down by 6% to drop below the $0.12 level for the first time since March, whilst the latter was down by a more considerable 7% to the $11.60 mark, a level also not seen since mid-March. Bitcoin SV (BSV) also experienced a drop of around 5% to close at just above the $76 level at press time.

Smaller market cap coins also experienced a significant retracement with Ethereum Classic (ETC) dropping by a hefty 7% to trade at $6.50 at press time on Thursday. ONT, VET and IOTA were down by around 6 to 7% each, whilst IOST experienced a far larger drop of around 12%. Other coins which suffered significant drops included WAVES, ZIL and QTUM which were down between 8% and 9% in all.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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