MENU

Bitcoin, Ethereum, and Ripple prices rebound from flash crash and push higher

The crypto market has continued its recovery and solid gains are being seen across the board again on Thursday.

This has led to the value of the entire market rising 1.5% over the last 24 hours to US$201.2 billion, according to Coin Market Cap.

However, it certainly wasn’t as plain sailing as it looks for the market. Overnight the Bitcoin (BTC) price flash-crashed during an incredibly eventful hour of trade.

In the space of just an hour the Bitcoin price fell over 4% from approximately US$6,350 to under US$6,100, before rebounding over 6.5% to above US$6,500.

The same declines and rebounds were seen across many of the major coins, but it isn’t clear why it happened.

One thing for sure, though, is that it isn’t a good look for the market ahead of the next U.S. Securities and Exchange Commission meeting relating to crypto ETFs later this month. Price manipulation has been a major concern and I’m sure these wild moves will have caught the Commission’s eye.

Here is the state of play on Thursday compared to 24 hours ago:

The Bitcoin (BTC) price is up 1.3% to US$6,438.57 per coin, lifting its market capitalisation to US$111.2 billion.

The Ethereum (ETH) price has risen 0.8% to US$211.00, giving ETH an improved market capitalisation of US$21.5 billion.

The Ripple (XRP) price has continued its run and is up a further 2.5% to 32.7 U.S. cents. This gives the alt coin a market capitalisation of just over US$13 billion.

The Bitcoin Cash (BCH) price is flat at US$433.87. The Bitcoin spin off’s market capitalisation remains at US$7.5 billion.

The EOS (EOS) price has climbed 2.9% to US$5.24, lifting its market capitalisation to US$3.9 billion.

Outside the top five the gains continued. Stellar (XLM) is up 0.3%, Litecoin (LTC) has risen 0.7%, Tether (USDT) has edged higher, and Cardano (ADA) has risen 5.1%. The only coin in the top ten in negative territory was Monero (XMR), which has fallen 0.8% to US$111.40.

3 Revolutionary Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.