Crypto Markets See Slight Slump, While Crypto Investors Maintain High Predictions

April 16, 2018
47 Views

The crypto markets are sinking slightly today, bringing BTC back slightly under $8,000 and ETH close to $500.

Bitcoin’s (BTC) price has gone back under $8,000, and Ethereum’s (ETH) briefly under $500, as the crypto markets experience a slight slump today, April 16.

BTC’s price last week had jumped $1,000 in 30 minutes, maintaining a relatively steady upward trend across the board in the aftermath of the jump.

BTC is currently trading for around $7,944, down around 5 percent over a 24 hour period to press time.

ETH is also down around 5 percent over a 24 hour period to press time, now trading above $500 again at around $503.

Of the top ten coins listed on CoinMarketCap, only altcoin Cardano (ADA) is in the green, up almost 8 percent over a 24 hour period and trading at around $0.23 by press time. Cardano’s upward swing could be attributed to news that crypto platform Huboi, ranked the number two exchange for 24 hour volume on CoinMarketCap, will add Cardano to its listings today.

Cointelegraph contributor Joseph Young tweeted today that he is more “comfortable” with a market where every altcoin doesn’t necessarily follow Bitcoin:

Total market cap remains above $300 bln, which it broke on April 12, currently at around $319 bln by press time.

This week has seen some bold predictions by actors in the crypto space, as investment tycoon Tim Draper predicted that he saw BTC hitting $250,000 by 2022 – a claim held up by CNBC Fast Money’s Brian Kelly – and bullish Wall Street predictor Tom Lee repeated his stance that BTC will reach $25,000 in 2018.

You may be interested

Crypto Markets Keep Building Momentum, Bitcoin Inches Towards $6,400
Bitcoin
Bitcoin

Crypto Markets Keep Building Momentum, Bitcoin Inches Towards $6,400

btcethereumadmin - July 16, 2018

Crypto markets keep growing, with nine out of top ten cryptocurrencies by market cap firmly in the green. Sunday, July…

Bitcoin News Summary – July 16, 2018
Crypto News
1 views
Crypto News
1 views

Bitcoin News Summary – July 16, 2018

btcethereumadmin - July 15, 2018

Here’s what happened this week in Bitcoin in 99 seconds.   The Bancor platform was hacked for $23.5 million in…

BCH Roundup: Steady Development, Market Uptrends, and New Apps
Crypto News
2 views
Crypto News
2 views

BCH Roundup: Steady Development, Market Uptrends, and New Apps

btcethereumadmin - July 15, 2018

The anniversary of the blockchain split that took place on August 1, 2017 is just two weeks away. Over the…

Leave a Comment

Your email address will not be published.