Bitcoin and Ether Market Update: June 13, 2019
The total crypto market cap added $15.5 billion to its value since June 10, 2019, and moved up to $261.1 billion. The top ten coins are all in green for the 24-hour period with Litecoin (LTC) being the only exception with a four percent loss. Cardano’s ADA is the best performer with a seven percent price increase. At the time of writing, bitcoin (BTC) is trading at $8,110 on the Bitstamp daily chart, while ether (ETH) stands at $259 and Ripple’s XRP hovers around $0.404.
After losing some ground during the previous week, bitcoin opened the week with a solid green candle to $8,020. In a 5.2 percent winning session, the BTC/USD pair added $400 and once again moved above the psychological level of $8,000.
As predicted BTCManager’s previous analysis, bulls found their support one step below the $7,700 mark and successfully rebounded from there. On June 11, 2019, commentators saw a small correction to $7,920 as BTC was trading as low as $7,710 during the intraday trading.
It continued its way up, however, on June 12, 2019, and went straight into the uptrend channel before stopping at $8,180.
The most popular cryptocurrency is trading at $8,120 in the early hours of June 13, 2019.
The cryptocurrency data provider CryptoCompare partnered with stock exchange giant https://www.nasdaq.com/ to launch a new cryptocurrency pricing product. The so-called Nasdaq/CryptoCompare Aggregate Crypto Reference Prices will “provide minute-by-minute pricing data for the most liquid cryptocurrency markets” as per the official announcement.
Although it was trading mainly in the $270 to $235 range during the last few weeks, the Ethereum coin lost some ground during the previous seven-day period. It dropped to $230 on June 9, 2019, and found its short-term support there.
It started the new week with a 7.3 percent increase and moved North to $247. On June 11, the ETH/USD pair made a step back and closed at $245.
On June 12, ether formed another solid green candle and climbed up to $262, adding another seven percent to its value. The coin was becoming once again an attractive asset for traders as technical indicators were pointing to a future breakout if $270 is breached in the short-term.
The French video games giant, Ubisoft, is reportedly planning to launch a decentralized marketplace, which will be hosted on the Ethereum blockchain. According to a recent report from the French media Les Echos, the company is looking for a way to develop a user-friendly environment, where gamers will be able to exchange and trade in-game items and accessories via a native cryptocurrency.