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Ethereum (ETH) and other Cryptocurrencies make a big recovery

The cryptocurrency markets have made a big turnaround over the past 24 hours, they had reached lows but now the entire market is a sea of green.

According to CoinMarketCap:

Ethereum (ETH) has risen by more than 8.3% over the past day to US$452.18. This still represents a fall of more than two thirds since the start of the year. Its market capitalisation now stands at US$45.4 billion. It seems to be drifting away from taking the number one crown from Bitcoin.

Bitcoin (BTC) has grown by 8.54% during the past 24 hours to US$6,428.92. It has also lost more than two thirds of its value since December last year. Its market capitalisation has risen to US$110 billion for now.

Ripple (XRP) has risen by 5.72% during the past day to US$0.468. It has fallen significantly since its all-time high of US$3.78 at the start of the year. Its market capitalisation has risen to US$18.37 billion today.

Bitcoin Cash (BCH) has grown by 13.19% over the past 24 hours to US$751.15. It has declined by more than 75% since its high in December 2017. Its market capitalisation now represents US$12.9 billion.

EOS (EOS) has gone up by 9.07% during the past 24 hours to US$8.04. Its market capitalisation has reached US$7.2 billion.

Also, during the past day: Litecoin (LTC) is up 10.5%, Stellar (XLM) is up 9.79%, Cardano (ADA) is up 13.44%, TRON (TRX) is up 5.83% and IOTA (MIOTA) is up 8.26%.

This marks a quick turnaround for cryptocurrencies considering they were hitting 2018 lows just before these rises. The gain could be short-lived, but as a whole cryptocurrencies seem to slowly be heading downwards over time.

I’d rather put my money into an exciting software business with long-term growth like Altium Limited (ASX: ALU) or Appen Ltd (ASX: APX).

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Motley Fool contributor Tristan Harrison owns shares of Altium. The Motley Fool Australia owns shares of Altium and Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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