Sally Ho's Technical Analysis 22 September 2019

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Bitcoin hugs the $8000 mark after a mighty recovery on the weekend

coininsider

4mon ago

Using data from Coin360.com, we can see the general mixed state of the cryptocurrency market as it stands.

Despite a dip towards the end of last week, Bitcoin has recovered to hug the $8000 mark. At the time of writing, Bitcoin price is sitting at $7958. This is a 0.34% increase in daily trading. Although it seems to be gaining tentatively, it must still be noted that Bitcoin has seen over $2000 gained in less than two weeks.

Looking at the charts, we can see the movements of the leading cryptocurrency over the past week. Bitcoin started the week with a surge from $7026 to see $8200. On Thursday Bitcoin price took a dive from around $7900 to $7100. From there, it hovered between $7000 and $7450 until Sunday when it saw a bullish return to $8000.

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A week ago, Ethereum was ranging below $190. Over the week, it consistently gained to see $273 on Thursday. This boasts a 43.68% gain from Monday to Thursday. At Bitcoin dipped, Ethereum also dropped slightly to see a low of $230. On Sunday, Ethereum spiked from a value of $235 to $263.

In the third position in the cryptocurrency market, Ripple has seen a week of lower volatility compared to Bitcoin and Ethereum. This time a week ago, Ripple was sitting at a $0.32 value. On Thursday the token gained to see a price tag of $0.47. Currently, Ripple’s XRP is sitting at $0.399 which is a 1.03% increase in daily trading.

At the time of writing, Dash is showing bullish gains of 9.54% to see a $164.81 value. Looking at the charts, we can see that the altcoin is following Bitcoin’s trend as it fell on Thursday to gain again on Sunday.

Verge has also seen a spike in both trading volume and value. Boasting a 9.41% increase in daily trading price, Verge is looking at a $0.010931 value. Unlike Ethereum and Dash, Verge saw an increase when Bitcoin prices dipped. On Wednesday, the token rallied and maintained a peak until readjusting on Friday.

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