Market update
Bitcoin fell off a cliff last Thursday, plunging from $15,200 to $13,900 in the space of a day. And just as suddenly in the last 24 hours, Bitcoin surged 6.1 percent to be trading above $15,400 at the time of writing. Bitcoin’s increase has dragged up the entire top ten – but not enough to make up for a week of losses. ETH lost 5.1%, XRP (-3%), BCH (-4.3%), LTC (-9.5%), EOS (-6.6%) and Stellar (-8.8%).
Bitcoin is down 5% for the week to be trading around $15,100 at the time of writing. Over the weekend, Bitcoin’s 30-day volatility dropped to its lowest point since June 25 and it’s more than 50% down from its recent peak on July 19. Judging by the escalation in US/China trade hostilities though, the Trump volatility index remains high. Ethereum is losing ground fast, falling 7% this week to $280. XRP lost 4.4%, BCH (-3.8%), Litecoin (-3.8%), EOS (-3.6%) and Stellar (-2%)