The Growth of Bitcoin is a Positive Momentum Reflecting Current Market Upswing.
On July 17, 2018 crypto markets were continuing to rely on a considerable upswing that began on July 16. Thus, nearly all of the top ten coins by current market value were showing growth during the past two days.
Ongoing positive momentum is likely to reverse the great valuation losses that took place last week. It is clear now, those were not a lasting downward movement, but rather a temporary decrease.
Bitcoin (BTC) is trading around $7,377 now, showing continuing growth during the past two days. The leading cryptocurrency yesterday pushed further beyond previous peak trading price of $6,679. Bitcoin has now brought its weekly and monthly profits into net positive territory, which are at around 6 and 2 percent respectively. The coin has now outrun its prominent growths on July 8 when the coin costed almost $6,800.
Top altcoin Ethereum (ETH) also goes up. However, Ethereum’s monthly performance is still almost 6 percent in the negative.
On CoinMarketCap’s listings, all of the top 10 coins by current market value are showing growth over the past two days. Total market capitalization of all cryptocurrencies is now at around $286 billion.
Consolidation of yesterday’s significant market growth is likely still encouraged by yesterday’s optimistic news that the $6.3 trillion asset management company BlackRock –– the world’s largest provider of exchange traded-funds (ETF) –– is beginning to assess potential involvement in Bitcoin.