Another week, another recap. This time, we saw an overall drop in the value of the market, with signs of recovery already beginning to show, but let’s take a deeper look:
Bitcoin: $11647, with a change of -0.23% from yesterday and 4.03% from last week.
Ethereum: $274.71, with a change of 1.14% from yesterday and -6.2% from last week.
XRP: $0.34408, with a change of 2.45% from yesterday and -9.69% from last week.
Litecoin: $105.14, with a change of 2.15% from yesterday and -11.97% from last week.
Bitcoin Cash: $350.75, with a change of 1.58% from yesterday and -13.01% from last week.
Binance Coin: $32.11, with a change of 5.8% from yesterday and -3.6% from last week.
EOS: $4.7839, with a change of 2.56% from yesterday and -17.6% from last week.
Bitcoin SV: $163.7, with a change of -1.45% from yesterday and -18.06% from last week.
TRON: $0.028927, with a change of 1.68% from yesterday and -9.6% from last week.
Stellar: $0.097555, with a change of 9.06% from yesterday and -2.7% from last week.
As we can see, there was a general drop in the market this Wednesday, around 2:00 pm (UTC), which some analysts are linking to the comments from Jerome Powell, chairman of the U.S. Federal Reserve, regarding Facebook and their Libra project, but the only evidence that supports this view is the coincidence in time.
In other news, Bitpoint, a Japan based crypto exchange, was recently hacked for $32 million USD (around 3.5 billion yen) along 5 different assets: BTC, XRP, ETH, LTC and BCH, the top 5 in market capitalization. This is no coincidence, given that $23 million of the total were stolen from users’ hot wallets, it’s logical that the total amount was made up of the 5 most popular currencies. This might be the cause for the slighter drop seen at 8:00 pm (UTC) on Thursday, which put a brake to the recovery of the coins after the previous dive.
Still, most experts are confident that this drops are not harmful, and that the market can recover if it stays in it’s current bullish run, which they say will remain active as long as BTC stays above $10,000. Should it dive below that mark, a new bearish period might start, but most are certain that won’t be the case in the near future.