This week we found a fluctuating market, struggling to maintain a total capitalization above the $200 billion USD mark and, at the same time, fighting to make up lost ground. Overall, the week remained stable compared to the numbers of the last seven days.
Last Thursday the total capitalization was of $203.42 billion USD; on Friday night, the market reached $225.56 billion USD capitalization, then falling to $208.63 billion the next day, and bouncing back to $218.80 billion on Sunday.
The market fell again on Monday to $205.1 billion USD and recovered again the next day, reaching $221.74 billion. On Wednesday the market kept the same pattern, plunging to $203.43 billion.
At the moment of writing this article, the market gained a little ground, with a total capitalization of $207.6 billion USD.
As we can see, it was a thrilling week full of opportunities for trading enthusiasts, if they made the right readings at the right time.
The main cryptocurrencies changed from red to green constantly, reflecting the behavior of the top asset in the sector, Bitcoin, which remained between $6,288 and $6,790 USD during the last week and settling at $6,465 after the most recent correction.
On the other hand, Ethereum extended its bad luck. During the last month it has had multiple _ and unexpected _ setbacks. Not long ago, it was trading at $480 dollars, but the digital currency has substantially weakened and its current value is $275 dollars.
As for Ripple, after falling to $0.261958 USD 10 days ago, this asset has recovered notably to $0.321606 dollars. Bitcoin Cash has showed the same behavior as Ethereum, losing ground after toppling at $606 dollars last week. Because of the fluctuating market, this virtual asset is currently trading at $522 dollars.
The other digital assets in the Top-10 are suffering alike: they all are on the same boat, and what affects the Bitcoin at this moment has an impact on the other cryptocurrencies.
If we play the game of speculation based on the last week’s trend, we could expect Bitcoin to bounce back and end the week close to the $7,000 USD mark. But remember, dear readers, that the market is still unstable and risky despite the forecasts and speculation from graphs and prediction tools.
By Omar Cortés
Graphics: Coin Market Cap