MENU

Crypto update: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, and Stellar climb after weekend selloff

Although the crypto market has started the week on a positive note, this comes after some significant declines over the week.

These declines mean that value of the entire market is now US$257.4 billion according to Coin Market Cap. While this is around 1% higher than 24 hours ago, it is still over 3.5% lower than the same time on Friday.

Bitcoin and the rest of the cryptocurrencies appear to have taken a tumble on the back of comments out of Goldman Sachs.

According to CNBC, Goldman Sachs chief investment officer Sharmin Mossavar-Rahmani has stated that: “We expect further declines in the future given our view that these cryptocurrencies do not fulfil any of the three traditional roles of a currency.”

This was similar to comments out of UBS last week which suggested that Bitcoin was too unstable to be a mainstream currency.

Here is the state of play on Monday morning:

The Bitcoin (BTC) price has risen 0.7% over the last 24 hours to US$7.081.84 per coin, lifting its market capitalisation to almost US$121.8 billion.

The Ethereum (ETH) price has pushed 1.7% higher since this time yesterday to US$413.19. This gives Ethereum an improved market capitalisation of US$41.8 billion.

The Ripple (XRP) price is up 1.4% over the period to 43.4 U.S. cents, taking the alt coin’s market capitalisation to just over US$17 billion.

The Bitcoin Cash (BCH) price has been one of the biggest movers with a 2.5% push higher during the last 24 hours to US$713.23. The Bitcoin offshoot now has a market capitalisation of US$12.3 billion.

The EOS (EOS) price has climbed 1.2% since this time yesterday to US$7.07. This increases the EOS market capitalisation to US$6.4 billion.

Outside the top five the gains were even stronger. Stellar (XLM) rose 1.7%, Litecoin (LTC) climbed 1.8%, Cardano (ADA) pushed 3.8% higher, IOTA (MIOTA) is up a sizeable 7.3%, and Tether (USDT) is up 0.2%.

Did you miss the crypto boom? 7 of 8 People Are Clueless About This Trillion-Dollar Market

One of our investors has recently returned from a research trip to Silicon Valley... and has a warning for fellow investors:

Because he works for an organization dedicated to spreading great investing ideas, his video report is free today... so you can see it and decide for yourself.

Don't miss your chance click here to learn about this warning and how you might be able to profit!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!