Bitcoin Falls Under $4,000 as United States Oil Rises

Published at: March 26, 2019

Tuesday, March 26 — most of the top 20 cryptocurrencies are reporting slight losses on the day by press time, as Bitcoin (BTC) has fallen under $4,000 again.

Market Visualization Courtesy of Coin360

Bitcoin is down over a percent on the day, trading at around $3,967, according to CoinMarketCap. Looking at its weekly chart, the current price is over two percent lower than $4,060, the price at which Bitcoin started the week.

Bitcoin 7-day price chart. Source: CoinMarketCap

Recently, crypto bull Tim Draper has given advice to the president of Argentina to legalize Bitcoin in order to improve the economic situation in the country.

Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.2 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $12.6 billion by press time.

ETH is down by about one percent over the last 24 hours. At press time, ETH is trading around $134, after having started the day at $135 and reporting a mid-day low of $133. On its weekly chart, Ethereum has seen its value increase nearly four and a half percent.

Ethereum 7-day price chart. Source: CoinMarketCap

As Cointelegraph reported yesterday, Ethereum co-founder Vitalik Buterin has argued that the crypto community should evolve beyond the individualism associated with its early cypherpunk days, and harness technology to create new, equitable and innovative systems with positive social impact.

Second-largest altcoin Ripple has lost about one and a half percent in the 24 hours to press time, and is currently trading at around $0.301. Looking at the coin’s weekly chart, its current price is over five and a half percent higher than $0.318, the price at which it started the week.

Ripple 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the only ones reporting gains are Cardano (ADA), which is up over two percent, and EOS (EOS), which is up about half a percent.

The total market cap of all cryptocurrencies is currently equivalent to $137.4, which is over two percent lower than $140.4 billion, the value it saw one week ago.

In traditional markets, the stock market is seeing discreet growth so far today, with the S&P 500 up 0.56 percent and Nasdaq up 0.65 percent. The CBOE Volatility Index (VIX), on the other hand, has lost a solid 5.51 percent on the day at press time.

Earlier today, CNBC reported that United States Oil rose 2 percent as the OPEC supply was cut.

Major oil futures and indexes are showing mixed movements today, with WTI Crude up 1.84 percent, Brent Crude up 0.84 percent and Mars US down 0.19 percent. Opec Basket is also down by 1.64 percent, and the Canadian Crude Index has seen its value increase by 2.26 percent, according to OilPrices.

Tags
Bitcoin
Bitcoin Price
Ethereum
Altcoin
Cryptocurrencies
Cardano
Ether Price
Ripple
Eos
Related Posts
Crypto Markets See Bullish Growth, Asian Stock Markets Rally Ahead of US-China Trade Talk
Monday, Feb. 18: Crypto markets are seeing a bullish surge of green, with all of the top twenty cryptocurrencies seeing growth of between 2 and 12 percent, as data from Coin360 shows. Market visualization by Coin360 Top cryptocurrency Bitcoin (BTC) has seen a solid 2.9 percent in growth on the day and is trading around $3,742 to press time, according to CoinMarketCap data, bringing Bitcoin to a 2.38 percent gain on the week. Bitcoin 7-day price chart. Source: CoinMarketCap Ethereum (ETH) has seen the strongest 24-hour growth among the top 50 coins by market cap, rising close to 11 percent …
Bitcoin / Feb. 18, 2019
EOS Sees Second Day of Growth as Crypto Markets, Stocks See Scant Price Action
Wednesday, Feb. 13: Cryptocurrencies are seeing tempered price action overall. With a few notable exceptions, most of the top 20 coins by market cap are fluctuating 2 percent in either direction on the day, as data from Coin360 shows. Market visualization by Coin360 Top cryptocurrency Bitcoin (BTC) has seen virtually no price change on the day and is trading at $3,628 to press time, according to CoinMarketCap data. On its 7-day chart, the coin is up 6.5 percent after a spike on Friday, Feb. 8, when Bitcoin soared by almost $300 in value. On the month, the coin has come …
Bitcoin / Feb. 13, 2019
Crypto Markets Teeter on New Year's Eve, With Mostly Losses Across the Board
Monday, Dec. 31 — on the cusp of the new year, all but one of the top 20 cryptocurrencies by market cap are in the red, as data from Coin360 shows. Losses among the larger cryptos are tempered, with most losing 2-3 percent, and losses capped at 6 percent. Market visualization by Coin360 Bitcoin (BTC) has seen a mild loss of around 2 percent over the 24 hours to press time, currently trading at $3,816. The closing week of 2018 has been a volatile one, with Bitcoin breaking above $4,200 Dec. 24, before sustaining several days of losses to trade …
Bitcoin / Dec. 31, 2018
Price analysis 12/30: BTC, ETH, XRP, LTC, BCH, DOT, ADA, BNB, LINK, BSV
On-chain data suggests that high-net-worth individuals continued to buy Bitcoin (BTC) after Christmas. Analysts at Santiment said that smaller traders sold about $647 million worth of Bitcoin and this sum may have been bought up by Bitcoin whales. Data also signals that large investors have been buying and holding their purchases throughout 2020, without booking profits in an aggressive manner. According to Glassnode analysts, this has caused the number of Bitcoin in circulation to decline by about 1 million. That means, out of the total available supply, 14.5 million Bitcoin are considered illiquid. Glassnode analysts say that this leaves only …
Bitcoin / Dec. 30, 2020
Price analysis 12/28: BTC, ETH, XRP, LTC, BCH, DOT, ADA, BNB, LINK, XLM
Several central banks have resorted to unprecedented monetary expansion and aggressive rate cuts to support their respective economies badgered by the coronavirus pandemic. Record liquidity has resulted in sharp rallies in the S&P 500, gold, and Bitcoin (BTC), which suggests that investors are plowing money into assets of their choice. While gold is way below its all-time high set in August, both the S&P 500 and Bitcoin are near their all-time high. The last five trading days of the year and the first two of the next year have historically been bullish for the S&P 500, dubbed as the "Santa …
Bitcoin / Dec. 28, 2020