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Bitcoin price back above $10,600 as altcoin markets rally – The South African

Yesterday saw several major cryptocurrency markets experience slight downward price corrections. Bitcoin (BTC) fell below the $10,200 resistance as per data from CoinMarketCap. However, as of this morning, Bitcoin (BTC) is up once again by 2.51% and changing hands at $10,417.56.

Bitcoin price analysis

Bitcoin (BTC) is currently only $1,000 away from its price point at the start of its 7-day chart (Aug 11), however, BTC’s recovery today has kept the number one cryptocurrency above its $10,000 psychological price point. As reported by TSA last week, Bitcoin endured a short downturn, last week when its price dropped as low as $9,700.

Altcoin markets rally

After several weeks of lacklustre action, several altcoin markets are beginning to rally. Ethereum (ETH), the world’s second-largest cryptocurrency has seen a notable 7% gain and is trading at $199 at the time of writing. Ethereum dipped below the $200 mark back on August 14, however, ETH’s new upward action is slowing edging it back above this level. Notably, though, ETH’s weekly losses remain at a bleak 7.86%.

The third-largest crypto by market cap, XRP, has seen notably bullish action for the day. Ripple’s controversial token is up by 10% with a far less harsh loss of 5% for the week. XRP is trading at $0.285757 at the time of writing.

Other notable top ten cryptocurrency gains for today are Litecoin (LTC) which is up by 5.50% and changing hands at $76.74, EOS which is up by 4.93% and trading at $3.72 and Bitcoin SV which is up by 4.43% and changing hands at $138.

In terms of the top twenty cryptocurrencies, notable performers for the day are Cardano (ADA), Unus Sed Leo (LEO) and TRON (TRX), all of which are recording gains of between 7 and 9% during the past 24 hours.

The total market capitalization of the cryptocurrency market is $272,360,296,166 at the time of writing as per data from CoinMarketCap. Remember to check in again at 14:00 for your top 10 latest cryptocurrency news and prices.

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