Crypto markets stabilize after spike

Oct 17, 2018 at 23:54

Crypto markets finished Tuesday with some stability with nearly all virtual tokens seeing minimal price movements during the trading session.

Bitcoin (BTC) is trading at $6,537 as of writing, down by 1.03 percent on the day, according to DisruptBlock’s market chart.

Suring the momentary spike in the prior day, Bitcoin reached a high of $6,673 to nearly the test the $6,700 resistance level. However, the top cryptocurrency eventually hovered in the corrected to the price range it saw at the level with which it opened the week.

Overall, for the week, Bitcoin slid a meager 0.06 percent as compared with the week-ending Oct. 9. Month-on-month, Bitcoin is growing 1.72 percent.

Meanwhile, Ethereum was down 1.44% to $207.26 per piece.

Before this week’s rally, the leading altcoin saw an intra-week low of around $189 particularly on Oct. 12. A little more losses were incurred before the spike boosted it to a weekly high of $220.

For this the week, Ethereum is down about 7.5 percent while its monthly decline is tempered to 3.2 percent.

Ripple continued to prove its mettle as it raked in higher than the average gains of the market’s magic 10.

The coin may have had a bad week when it slashed huge losses from Oct.11 to 14, pulling it 4.4 percent down from the prior week.

But month-to-date, Ripple gained much more than it shed for the rest of September, giving it a 64 percent increase.