Bitcoin Prices: July 2019
After a week of steady gains back up to the $13,000 mark, BTC prices plummeted to just below $9,200 on Wednesday - the lowest we’ve seen in just over a month. This drop-off coincides with growing public and federal criticism over Facebook’s Libra cryptocurrency, which has been heavily scrutinised by the U.S Senate Banking Committee this week.
David Marcus, head of the social media network’s digital currency project, tried to calm concerns over a multitude of issues relating to privacy and security but simply failed to do so. Senators were unconvinced, skepticism over Libra grew, and the effects were felt throughout the entire crypto market.
Bitcoin prices fell by $1,000 immediately after the hearing, and continued to fall before picking up slightly yesterday afternoon. Since then, fluctuations within the $9000 to $9900 bracket have carried on through the night and into today, with prices finally passing $10,000 only moments ago.
Whilst the market may be able to mitigate the bearish pressure this time, the investigation into Libra is ongoing, and we’re still not sure if the results will significantly affect Bitcoin and other existing cryptocurrencies in the long-term.
What we do know, however, is that BTC prices are at the highest they’ve been for over a year and a half - even with the recent volatility the market has been exposed to. Not bad, hey?
Here’s a price chart detailing the past week:
Bitcoin prices: May 2019
In a matter of 24h, bitcoin broke a host of resistance lines and crossed the $8,000 mark, where it currently stands.
This seems like a real warm spring to crypto. After a great first week, the second week of May has seen bitcoin reach a peak of $7,400, and stabilising at around the $7,000 mark as investors consolidated their profits. Have the bulls finally taken over?
Last week, bitcoin has shaken off from the long crypto winter. Between April and May, prices have gone up more than 20%, appreciating more than $1,000 - from around $5,200 to currently $6,340.
As it usually happens during bitcoin bull runs, altcoins are lagging behind in comparison. BTC dominance is currently at 59%. Here's a portrait of last month's bitcoin steady climb:
Bitcoin prices: April 2019
Bitcoin prices have substantially increased for the second day in a row. However, while the biggest cryptocurrency added more than 5% value, Bitcoin Cash (BCH) was the biggest earner peaking at more than 50% in the past 24h, followed by Litecoin (LTC) with over 20% gains at the time of publishing.
Bitcoin Cash, currently the 6th cryptocurrency per market cap, hasn’t seen its value above the $200 mark since November, after the hard fork that split the currency in two. BCH surged past a series of resistance levels and is currently trading around the $250 mark.
After a 15% surge on the 2nd of April, the biggest cryptocurrency managed to keep its ascending trajectory for a second day with more than 5% gains, even managing to cross the $5k mark for the first time since November.
According to Reuters, the gains were likely triggered by around $100 million worth of orders spread across US-based exchanges, namely Coinbase and Kraken, as well as European exchange Bitstamp.
Also noteworthy, Litecoin’s steady trajectory has seen the “silver standard to BTC’s gold” add over 100% value in the first quarter of 2019, and around 20% on the day - a spectacular performance by any measure.
Claim your Bitcoin Cash on Cloudbet
Bitcoin Cash’s stellar performance is great news for players who were eligible to claim BCH during the 2017 fork, but still haven’t done so. Since May 2018, Cloudbet are crediting users who had BTC deposited during the 2017 hard fork with the equivalent amount of BCH.
As prices continue to climb, this is the perfect excuse for players to login and claim their funds - and perhaps make them grow even further.
Best time for bitcoin betting
Moreover, with the crypto markets picking up steam, bitcoin and bitcoin cash bettors have all the more reason to celebrate. The benefits of betting with bitcoin becomes even more evident as crypto consolidates and grows. BCH bettors made over 40% returns in a matter of hours - and that was even before placing a single bet! Not bad for a night’s sleep.
Markets are unpredictable, and there might as well be a price consolidation as investors lock in profits. However, this may be a sign that the long crypto winter is perhaps giving way to a warmer crypto spring. That is our bet.