Bitcoin is again approaching USD $ 11,000. Cryptocurrencies experience a slight fall in their prices
Some analysts compare the digital currency market with the gold market, and project that in the long term Bitcoin could be even more valuable than the precious metal just because of the evolution that the ecosystem has had in a lapse of just 10 years.
Last week was especially good for users of digital currencies, since most of these assets recorded a significant increase in their prices especially in recent days. However, although the price of the main cryptocurrencies fell starting this new week, they are increasing little by little with the passing of the hours.
This report begins with Bitcoin (BTC), whose price is at the time of editing at USD $ 10,918 per unit, representing an increase of almost 2% in the last 24 hours. Recall that the digital currency exceeded last Saturday the barrier of USD $ 11,000, increasing by more than 22% compared to Friday 21.
On the other hand Ethereum (ETH) has a price of USD $ 309 per unit, registering a slight drop of less than 1% compared to yesterday. The digital currency also experienced an important rebound between Friday and Saturday, when it finally exceeded the USD $ 300 barrier.
The main altcoins
In the case of other digital currencies such as Bitcoin Cash (BCH), EOS, Cardano (ADA), Monero (XMR) and IOTA (MIOTA), they did register some more pronounced falls that oscillate between 2 and 4% in the last 24 hours, registering prices equivalent to USD $ 470 / USD $ 7,18 / USD $ 0,096 / USD $ 115 and USD $ 0,45 respectively.
Among the main cryptocurrencies, which could be said to have had the best result was TRON (TRX), whose price registered an increase of more than 3% and stood at USD $ 0.038, while the digital currency experienced the most pronounced fall was Cosmos (ATOM), equivalent to 5.2% (USD $ 6.64).
Comparisons Bitcoin vs Gold
One of the aspects that caught the attention last week – prior to the increase in the price of Bitcoin – had to do with the rebound in the international gold market. The precious metal increased its value by more than 4% and this single capitalization was equivalent to almost double what the market for the main digital currency registers in its entirety.
According to data published by the portal Beincrypto.com, the gold market recently added about USD $ 320 billion, while Bitcoin recorded about USD $ 175 billion in total market volume for the same date.
Although the capitalization of the digital currency has increased in recent days by more than 15% with the recent rise in prices, standing at around USD $ 195.5 billion, this figure is far from the market price. of gold at this time, which is estimated at more than about USD $ 8 trillion.
However, taking into account that the Bitcoin ecosystem has just over 10 years of operation in the main commercial markets, many analysts and enthusiasts project that an exponential increase in the price of the main digital currency would make it “the new gold” of this generation, provided that the value gains some stability once the cryptocurrency is revalued above USD $ 50,000.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.