On Thursday, October 26, crypto market is recovering after the dip the day before. Bitcoin price is growing again after the recent Bitcoin Gold hard fork resulting in the new cryptocurrency appearance of the same name. Many altcoins also slightly tick up, due to what the cryptocurrency market capitalization exceeds $172 billion.
Within a day, Bitcoin price has raised by 7.5% and again hits the mark of $6000. At 10:31 EST, it came up to $5,952 according to Coinmarketcap. To compare: yesterday, its value dipped below $5500.
It is unclear, for the time being, what has become the reason for today’s race. However, some analysts believe this to be the early stage of Bitcoin’s conversion into the main monetary asset. Ronnie Moas has recently suggested that the Bitcoin’s price will reach $50,000 over the next decade.
Following the Bitcoin recovery, Ethereum has also gained in price, though the markup is so far insignificant. The second largest cryptocurrency has approached the $300 mark once more but is unable to overcome it yet. At 18:31 MSK, Ethereum (ETH/USD) was traded at $298 (+0.5%).
At the same time, the new Bitcoin Gold cryptocurrency’s price continues to decline due to the lack of investors’ support. On the night of October 25, BTG started at $480, and till Thursday evening, it gradually plunged to $123.
Generally, top 10 cryptocurrency’s capitalization is growing except for Dash, NEM, and NEO.