Bitcoin is back above $8,000, Ethereum above multi-month low below $500 in the wake of positive comments by Bank of England governor to G20 members.
The crypto markets are in the green again after hitting monthly lows this week, with Bitcoin (BTC) back over $8,000 by press time according to data from CoinMarketCap, following the Bank of England’s positive comments to G20 members that crypto poses “no risk” to the stability of the global economy.
Image source: https://coin360.io/
Reuters wrote about the G20 crypto comments – which were made in a letter dated March 13 – at 8:09 PM UTC yesterday, March 18, and BTC saw a spike of $1,000 in price in the following few hours.
BTC is currently up almost 8 percent over a 24 hour period, trading at around $8,300 by press time. Bitcoin’s market dominance continues to steadily grow, reported at 44.5 percent by press time.
Early morning March 19, Ethereum (ETH) also jumped in price to break above $500, after dropping below that mark March 18 for the first time since December 2017. ETH is now trading at around $532 and up almost 6 percent over a 24 hour period by press time.
ETH’s drop below $500 could possibly be attributed to a dump of 50,000 ETH on crypto exchange Bitfinex, according to Twitter-famous crypto enthusiast WhalePanda:
— WhalePanda (@WhalePanda) March 18, 2018
At press time all of the top 100 coins are in the green, with gains in the top 10 coins of as much as 27 percent.
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Author: Molly Jane Zuckerman