Business 20 June 2018

Gerald Fenech

Crypto market daily report – June 20, 2018

The cryptocurrency markets continued to recover on Tuesday and Wednesday although there was a slight retracement at press time, with BTC settling at around the $6,650 mark. The figure of $6,800 had also been reached on Monday but there was a slight decline as turnover levels put pressure on the price.

Bitcoin Cash also made a good recovery over the past 48 hours rising to the significant $900 mark before dropping back slightly to the $870 levels on Wednesday morning. Ripple posted strong gains over Tuesday rising to almost $0.57—the highest level it has been over the past two weeks—before settling at around the $0.55 level at press time on Wednesday, a decrease of around 3%.

Ethereum increased to around the $530 level on Tuesday before it dropped to around the $520 level on Wednesday morning. After dropping to below the $470 level last week, Ethereum has now recovered well and posted a 10% increase over the past week, showing that the cryptocurrency has good staying power overall.

EOS also recovered well from its yearly low last week, when it dropped below the $10 level, and was trading at around $10.50 at press time on Wednesday. Litecoin also recovered from its intra year low of $93, posting a 5% increase and settling at $97 at press time on Wednesday.

Currencies with smaller market caps also posted good increases across the board, with Ethereum Classic jumping by around 8% over the past 48 hours to settle at around $15.50. Stellar also posted a 6% increase to settle at the $0.24 level before retracing slightly to around the $0.226 mark on very low turnover. NEO posted a good increase from the low of $36; it rose to $40 on Tuesday before again experiencing a drop of 3% to the $38 level. IOTA recovered to the $1.14 level, whilst Cardano rose to the $0.17 level before dropping back to around $0.16 at press time. TRON experienced a double digit increase over Tuesday to the $0.05 level, but lost some of those gains on Wednesday to settle at around $0.045 at press time. Dash was relatively stable at the $250-260 level on Wednesday with very little movement either way.

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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