Right after the bullish week all the major cryptocurrencies including Bitcoin, Ethereum and Ripple, among the top twenty are reporting mild to moderate losses from yesterday. Bitcoin [BTC] dipped and approached to the $5,000 mark.
The first generation cryptocurrency is down close by 5% in the last 24 hour period and is trading around $5,038 at the time of press according to CoinMarketFeed. The prominent cryptocurrency has witnessed a week of near-consistent gain, hitting a multi-month price high of over $5,420 on April 10.
Ethereum, the largest altcoin by market capitalization dipped to 9% in the last 24 hours to trade at $164. The altcoin has seen a roller coaster over the past one week, gaining an intra-week high of over $180 on April 8. After that the cryptocurrency headed south to its current price point. On the week, Ethereum remains up by 3% according to the data from CoinMarketFeed.
The third largest cryptocurrency, Ripple [XRP] has reported a loss of 8% in the last 24 hour and is currently trading at around $0.329 at the time of press. When analyzing the weekly chart, the altcoin hike to $0.373 on April 5. Since the hike the altcoin declined and is currently down close to 2.6% on the week.
The whole cryptocurrency market is uniformly red, among the top ten cryptocurrencies Litecoin [LTC] is reporting the largest losses, down 11% in the last 24 hour period to trade at $78 at the time of press. Also, the fifth largest cryptocurrencies Bitcoin Cash (BCH) witnessed close to 9% loss on the day to press time.
The heaviest loss was witnessed by the 19th-ranked cryptocurrency Ontology (ONT), down a stark 12.8%, 11th-ranked Tron [TRX], down 11.4%, and 16th-ranked NEO, down close to 12%.
Christine Lagarde, the International Monetary Fund managing director revealed yesterday that blockchain innovators are shaking the conventional financial world, and having a clear impact on the acts of existing holders.
According to reports, United States Department of Energy project to utilize blockchain to boost power plant security is entering phase two second phase targeting to deploy the technology to avoid remote attacks such as, which affected Ukraine’s grid in 2016.
In conventional markets, European markets are fluctuating after yesterday’s EU summit decision to permit the United Kingdom a “flextension” of up to six months. This was granted for the Article 50 deadline for Brexit. As soon as the markets opened, the pan-European Stoxx 600 edged vaguely lowered with sectors and prominent bourses moving in opposite directions.