Business

Gerald Fenech

Crypto market daily report – April 5, 2019

The cryptocurrency markets lost considerable ground on Thursday with most coins down by double-digit levels over a 48-hour period. However, there does seem to be some light over the past few hours with some selected crypto currencies rising by considerable levels on Friday at press time. Bitcoin Core (BTC) was down by 4% on Friday morning at press time and was trading at just under the $5,000 level having dropped as far as the low $4,800s on Thursday evening.

BCHABC was down by a considerable 8%, dropping below the $300 level and trading at around $287 at press time on Friday. The same could be said for Bitcoin SV (BSV) which was down by a similar 7% and was trading at around $84 at press time but with healthy turnover levels, it seems that this currency is poised for a breakout.

Ethereum (ETH) was also up by around 2% to the $163 level after having dropped to well under the psychologically significant $160 level. Ripple (XRP) also recovered substantially from its previous drop and was up by around 7% to the $0.365 mark and also seems poised for a breakout.

After a bull rise of well over 30% on Wednesday, Litecoin (LTC) retreated slightly on Thursday and dropped below the $90 level only to rise by around 5% on Friday morning at press time to trade at over the $87 level. EOS was stable at around $5.25, whilst Cardano (ADA) continued to lose ground and was trading at just under the $0.09 level at press time. Stellar (XLM) however was in recovery mode and traded at around $0.126 at press time, whilst other smaller market cap coins had slightly mixed fortunes with Binance Coin (BNB) dropping below the $19 level on the back of a 1% decrease. TRON was up by 3% to the $0.027 level although there appeared to be little movement in the Justin Sun backed cryptocurrency. ICX, IOST, VET and IOTA were all down by between 4% and 2%, whilst Ethereum Classic bucked the trend on the back of a 3% increase to the $5.70 mark.

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