Cryptocurrency

Bitcoin Price Near $10,500 as Ether and Other Altcoins Make Gains

Saturday, Sept. 7 — Bitcoin (BTC) is trading sideways after falling short of the resistance at $11,000 yesterday, while Ether (ETH) is making a slight recovery from its dip earlier this week

Market visualization. Source: Coin360

Market visualization. Source: Coin360

Bitcoin has been trading in a range around $10,400 today. Yesterday it appeared that the coin would finally cross the $11,000 mark, a price the cryptocurrency has not seen since Aug. 13, but it fell short and corrected down to $10,313. At press time the coin is trading at $10,521, up 1% on the day.

Bitcoin’s 24-hour price chart. Source: Coin360

Bitcoin’s 24-hour price chart. Source: Coin360

Ether is seeing more of a recovery after its price dropped by around 5% yesterday. At press time the coin is trading at $178.93, up 5.7% over the 24-hour period.

Ether 7-day price chart. Source: Coin360

Ether 7-day price chart. Source: Coin360

Earlier this week, Ethereum developers said on a conference call that the testnet activation of the Istanbul hard fork has been pushed back to early October. Ethereum co-founder Vitalik Buterin previously said that the blockchain is nearly full, which could deter new adoption by potential Ethereum contributors.

Ripple’s XRP token is seeing some mild gains on the day after seeing a dip on Sept. 7. The token is currently trading at $0.260, up 3.87% on the day. 

XRP 24-hour price chart. Source: Coin360

XRP 24-hour price chart. Source: Coin360

XRP’s issuing firm Ripple recently fell out of the top-10 of employment-oriented service Linkedln’s “The 50 hottest U.S. companies to work for” list. Ripple moved from 7th to 28th place while cryptocurrency exchange Coinbase was downgraded to from 3rd to 29th.

Altcoins prices are rising as well

Several of the top-20 altcoins are seeing significant gains at press time, led by EOS which is trading at $3.61, up nearly 12% on the day. TRON (TRX) is up 8.53% to trade at $0.015, while Litecoin (LTC) has seen a 5.51% increase and is trading at $69.06 at press time. 

Bitcoin is showing strong market dominance at over 70% while Ether and XRP follow it at 6.99% and 4.11%, respectively. 

Bitcoin, Ether and XRP Market Dominance. Source: Coin360

Bitcoin, Ether and XRP Market Dominance. Source: Coin360

Market capitalization of all cryptocurrencies on Coin360 is over $268 billion at press time, up from $263 billion at the beginning of the day.

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