The Bitcoin Price Increases by More Than 11,600 USD as Bulls Strengthen Positions

Cryptocurrency markets recorded an advance minus Tuesday, with earnings concentrated in a small group of coins. Bitcoin price and the Litecoin price were the titles of the day, while Ethereum and other top cryptocurrencies struggled to iron water.

The cryptocurrency market cap increased sharply to 516.8 billion dollars but dropped from 507.9 billion dollars. That represents a one-day rise of 7.2 billion dollars and is equivalent to a boost of approximately 1.4%.

Bitcoin Price Rallies passed 11,600 USD

Bitcoin value headlined the gathering, nicking another advance on Tuesday to rood the 11,600 USD sill for the first time since 28 January. As a result of a slight pullback, Bitcoin is trading at 11,388 USD on Bitfinex, which however represents the 24-hour progress of about 5%.

Bitcoin currently has a 193.4 billion dollars market cap, and the current uptrend has activated the flagship cryptocurrency to grow its market share to 38.3%.

Bitcoin’s progress was remarkable both because it took place during the Chinese New Year. Which many times put pressure on cryptocurrencies, and because American legislators seem to have formed a bipartisan consensus around cryptocurrencies regulation. Bitcoin continues to grow even in this context is evidence of its increasing anti-fragility over external threats.

Ethereum Price Treads Water Shortly press for 960 USD

Ethereum price has decided to join Bitcoin, but ultimately it has proved less fortunate than the older brother. After a brief rise of 959 USD, Ethereum slipped by about 25 USD and the now valued at 934 USD on Bitfinex.

The second largest cryptocurrency now has a market cap of 91.9 billion dollars, which interpret into a market share of 18.2% and represents a one-day decline of about 1 %.

Litecoin Posts Lone Double-Digit Advance as Altcoins Flounder

Broader markets were a mixed sack for investors, with a top of 10 coins, Litecoin that recorded a notable increase.

Bitcoin Cash and Ripple recorded minor declines by more than 1%, lowering their prices to 1.503 USD and 1.10 USD respectively.

Litecoin placed fifth in the total market, rising by about 10%, increasing its price to 243 USD and a market cap of 13.5 billion dollars.

Cardano decreased by 2%, leaving its market value below 10 billion dollars, while the EOS value dropped slightly below 1 percent.

Meanwhile, NEO price stayed constant at 0.42 USD a day, while IOTA and Stellar reduced by 4% and 5% to close the top 10.

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Jony Chris

Jony Chris is an International Sales Consultant.He’s been fascinated by Bitcoin and Blockchain technology since first hearing about it in 2012. Born in the US, he loves technology, culture.