Business

Gerald Fenech

Crypto market daily report – May 13, 2019

The cryptocurrency markets performed impressively over the weekend with Bitcoin Core (BTC) leading the charge and rising no less than 20% over 48 hours to touch the $7,500 mark at one point on Sunday morning. However, there was an expected correction, with the cryptocurrency dropping by no less than 7% to under the $6800 level, before recovering to the $7050 mark at press time on Monday morning.

Ethereum (ETH) also rose considerably over the past 24 hours and was over the $200 mark on Sunday morning—a level not seen since November 2018. The second largest cryptocurrency by market cap was trading at around $190 at press time or down by around 4% overall.

Other larger cryptocurrencies by market cap also showed healthy gains, with Bitcoin Cash (BCHABC) rising by an impressive 30% to reach the $380 mark on Sunday, before declining to around $360 on Monday at press time.

Bitcoin SV (BSV) was also up by around 8% overall and was trading at the $58 mark at press time with a charge to the $60 level not untoward. Ripple (XRP) was rather flat for most of the weekend, although it did regain the $0.32 level on Monday. Litecoin (LTC) was also on a bull run, touching the $90 level on Sunday before falling back to around $86 on Monday morning, or a decline of around 5%.

Stellar (XLM) was down by roughly 4% to the $0.10 level, whilst NEO continued losing ground with a 5% drop to the $9.46 mark. IOTA was in positive territory, on the back of a 6% increase, to just over the $0.31 mark. DASH was on a roll and was up by 8% to the $130 level while other smaller market cap currencies such as ETC, NANO, VET, IOST and ICX were all slightly down on Monday after having registered considerable gains over the weekend.

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