Cryptocurrency Market Still on Shaky Grounds Despite Rising Bitcoin prices
It is indeed great news to know that Bitcoin prices have increased by 8% on Monday morning February 12th, 2018, this while other cryptocurrencies are also experiencing positive increases. But despite the increases, cryptocurrencies are yet to get back on to their last Friday highs.
Notwithstanding the recent limited growth for cryptocurrencies, Bitcoin prices rose to $8,732.34 on Monday. At the moment, other leading cryptocurrencies such as Ethereum, Litecoin, Bitcoin Cash and Ripple have also seen increases of up to 6%-14% in value.
These increases however do not mark such a significant change if we are to compare the figures as they stood over the weekend. There is barely any change in Bitcoin prices from where they stood last Friday.
In its Monday market report, the London Block Exchange explained that following a slight comeback in prices on Friday just above the $8,500 level, Bitcoin prices were able to hit above $9,000 on Saturday but that new high was short lived.
Unable to maintain the mark of $9,000, Bitcoin prices began to flop once again until it reach $7,800. Despite its strong performance over the weekend, Bitcoin did not pick enough steam to surpass the levels that were recorded on Friday.
Bitcoin and other cryptocurrencies have been trading on shaky grounds since last Wednesday as the market goes through peaks and dips in recent days. It seems the cryptocurrency market is about to go on another dive, just as it did at the beginning of this year.
