Crypto markets are seeing their fifth day of green, with virtually all of the top 20 cryptocurrencies showing a strong burst of growth, as data from Coin360 shows.
In terms of 24-hour growth, fourth-largest cryptocurrency Bitcoin Cash (BCH) has soared ahead of other assets, seeing an astonishing 36 percent spike to hit $165 as of press time.
Today marks the coin’s third day of double-digit growth, and fifth day in the green. With 7-day growth over 80 percent, the coin still remains close to 50 percent down on its monthly chart.
Bitcoin Cash 7-day price chart. Source: Cointelegraph’s Bitcoin Cash Price Index.
Largest cryptocurrency Bitcoin (BTC) has rebounded to trade around $4,100, up a solid 6 percent on the day, and almost $1,000 higher than its intraweek low at $3,185, Dec. 14. The top coin is today in its fifth day of green, reversing a protracted bearish downturn.
Bitcoin historical price data, Dec. 13 — Dec. 20. Source: Cointelegraph’s Bitcoin Price Index.
On the week, Bitcoin is now up by almost 22 percent; monthly losses nonetheless remain close to 27 percent.
Second-largest crypto by market cap Ripple (XRP) is up a milder half a percent on the day, trading at around $0.38 as of press time, according to Cointelegraph’s Ripple Price Index. Nonetheless, the asset’s cumulative fortunes over the week have brought its 7-day chart to a strong 29 percent in the green. Ripple’s monthly chart remains solidly red, indicating a loss of just over 20 percent.
Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index.
Ethereum (ETH) — ranked third crypto by market cap — has comfortably reclaimed its three digit value, trading at $111 and up close to 5 percent in the 24 hours to press time. Like Bitcoin, the altcoin is now seeing its fifth day of solid growth — having dipped to as low as around $82 Dec. 14.
While Ethereum is now up close to 22 percent on its weekly chart, it remains down a stark 28 percent on the month.
Ethereum 7-day price chart. Source: Cointelegraph’s Ethereum Price Index
The remaining coins in the top twenty by market cap are all seeing growth of between 2 and 6 percent. Ethereum Classic (ETC) is the strongest performer, up almost 6 percent at $4.76.
Total market capitalization of all cryptocurrencies is at around $132.2 billion as of press time, up over $30 billion from an intra-week low of $101.16 billion on Dec. 14.
7-day chart of total market capitalization of all cryptocurrencies from CoinMarketCap
In an interview published yesterday, Changpeng Zhao, CEO and co-founder of major cryptocurrency exchange Binance, dubbed 2018 a “correction year” for cryptocurrencies. Despite recent mid-term bearish trends, Zhao, aka CZ, expressed optimism for the future of the crypto industry, arguing that strong development and burgeoning “real use cases” will drive further adoption of cryptocurrency.
Source: Coin Telegraph