The cryptocurrency market is currently recovering strongly after a bruising few days. Here are the latest movements:
Ethereum (ETH) has gone up by nearly 7% over the past day to US$285.67. Its market capitalisation now stands at US$28.9 billion. It is now nearly a quarter the market cap of Bitcoin.
Bitcoin (BTC) has risen by 6.4% during the past 24 hours to US$6,428.55. Its market capitalisation is currently US$110.6 billion for now.
Ripple (XRP) has shot up by 10.19% during the past day to US$0.29. It has fallen significantly since its all-time high of US$3.78 at the start of the year. Its market capitalisation is US$11.4 billion today as it stands.
Bitcoin Cash (BCH) has recovered by 4.78% over the past 24 hours to US$519.77. It has declined by more than 80% since its high in December 2017. Its market capitalisation now represents US$9 billion.
EOS (EOS) has gone upwards by 7.31% during the past 24 hours to US$4.70. Its market capitalisation has reached US$4.26 billion.
Also, during the past day: Litecoin (LTC) is up 8.72%, Stellar (XLM) is up 7.14%, Cardano (ADA) is up 7.34%, TRON (TRX) is up 13.5% and IOTA (MIOTA) is up 15.72%.
Most of the currencies are actually lower than the last time I looked at their values with only Bitcoin up. However, it's clear that some (very) quick money can be made if you have a crystal ball to know when prices are going to go up.
I remember when a family friend said she was going to put some money into cryptocurrencies like Ripple (XRP) and Litecoin (LTC) in November 2017, just before they peaked. If only she had put the money into exciting software businesses with long-term growth potential like Altium Limited (ASX: ALU) or Appen Ltd (ASX: APX) instead!
