Bitcoin Crosses $8,000 as Major Oil Futures See Losses

Published at: May 24, 2019

Friday, May 24 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) crosses the $8,000 mark again.

Market visualization courtesy of Coin360

Bitcoin is up over 5% on the day, trading at $8,018 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 8.42%.

Bitcoin 7-day price chart. Source: CoinMarketCap

Earlier this week, CEO of Morgan Creek Capital Mark Yusko said bitcoin should be in every investor’s portfolio.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.6 billion. The second-largest altcoin, XRP, has a market cap of $16.2 billion at press time.

CoinMarketCap data shows that ETH is up over 6% over the last 24 hours. At press time, ETH is trading around $251. On the week, the coin has also seen its value increase by about 4.78%.

Ether 7-day price chart. Source: CoinMarketCap

XRP is about 4% up over the last 24 hours and is currently trading at around $0.386. On the week, the coin is up over 2.3%.

XRP 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the only one reporting losses is bitcoin sv (BSV), which is nearly 1% down at press time.

At press time, the total market capitalization of all cryptocurrencies is $249.5 billion, less than 7.8% higher than the value it reported a week ago.

Total market capitalization 7-day chart. Source: CoinMarketCap

As Cointelegraph reported earlier today, United States telecom and media giant AT&T is now accepting cryptocurrency for paying phone bills online.

In traditional markets, the United States stock market is seeing discrete losses so far today, with the S&P 500 down 1.19% and the Nasdaq down 1.58% at press time. The CBOE Volatility Index (VIX), on the other hand, has lost a solid 5.61% on the day at press time.

Major oil futures and indexes are mostly down today, with WTI Crude up 1.05%, Brent Crude up 1.1% and Mars US down 4.85% at press time. The OPEC Basket is down 0.95% and the Canadian Crude Index seen its value loose 8.22% by press time, according to OilPrices.

Tags
Bitcoin Price
Altcoin
Cryptocurrencies
Ether Price
Ripple
Bitcoin Sv
Related Posts
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
Bitcoin and US Stock Market Both See Minor Losses
Wednesday, May 29 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) still holds over the $8,000 mark, with minor gains on the day. Market visualization courtesy of Coin360 Bitcoin is over .5% down on the day, trading at $8,658 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up about 8.55%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported earlier today, the number of wallets holding between 1,000 and 10,000 bitcoin (BTC) has seen a sharp increase since the crypto market bottomed …
Bitcoin / May 29, 2019
Bitcoin Dips Below $8K Again as Top Altcoins See Mild Losses
Sunday, May 26 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $8,000 mark again. Market visualization courtesy of Coin360 Bitcoin is down less than one percent on the day, trading at $7,990 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin has seen almost no net change, up about a fraction of a percent. Bitcoin 7-day price chart. Source: CoinMarketCap Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.5 billion. The …
Bitcoin Price / May 26, 2019
Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend
Wednesday, May 22 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $7,900 mark again. Market visualization courtesy of Coin360 Bitcoin is down over .5% on the day, trading at $7,850 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 1.83%. Bitcoin 7-day price chart. Source: CoinMarketCap This week, Cointelegraph reported that CME Group, the second global exchange to list bitcoin (BTC) futures, is about to record the biggest trading month for BTC futures trading. Ether (ETH) is holding …
Bitcoin Price / May 22, 2019
Bitcoin Approaches $8,000 as Bitcoin SV Doubles in Value
Tuesday, May 21 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) approaches the $8,000 mark again. Market visualization courtesy of Coin360 Bitcoin is up over 2% on the day, trading at $7,953 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 2.55%. Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin’s proximity to $8,000 comes as the United States Securities and Exchange Commission reported yesterday that they are "still in information-gathering mode" regarding a bitcoin exchange-traded fund (ETF) from VanEck. Among the top …
Bitcoin Price / May 21, 2019