Bitcoin, Ethereum, and Litecoin Performance
This past weekend saw a dip in cryptocurrency prices across the major tokens in the market. The slight drop in prices among the leading coins is a sign the market is stabilizing again from the incredibly rapid gains it made over the last two weeks.
Bitcoin in particular nearly reached $5,000 in the bullish market that led up to the abrupt plunge back into the low 4,000s. The price of Bitcoin now sits as a comfortable $4,200 per token, allowing investors who thought they missed their opportunity to buy coins at the lower price.
Ethereum, which also took a bit of a dive, dropping over $100 in the span of a day, has only now started to make back what it lost in value. There are expected to be more announcements concerning the Millennium network that is to be added to the Ethereum Blockchain in the following weeks which is likely to make the price stable for the time being.
Litecoin has also seen its price fall back down to a midpoint between the $45 slump it was in for most of the year and the $70-$80 spike it experienced in the week leading up to the abrupt decline.
This depreciation across the board for cryptocurrency is most likely a response to Chine outlawing ICOs in the country as well as them closing down Bitcoin and cryptocurrency exchanges within their borders. A move that has severed an artery of the industry and crippled the ICO market in the far East. The prices should stabilize in the coming days as they creep back up to where they were before the drop.
Image via: Mashable
Graphs via: coinmarketcap.com