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Topic: What Could Lift Bitcoin, Ripple, Ethereum, And Litecoin Prices Back Towards New (Read 119 times)

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The cryptocurrency party is on again.

After being in a deep correction for a few weeks, Bitcoin, Ethereum, Ripple, and Litecoin have been coming back nicely over the last week, gaining 19.87%, 10.48%, 30.57%, and 53.90% respectively—see table 1.

Table 1

7-Day Price Change For Major Cryptocurrencies

Cryptocurrency   %7d
Bitcoin   19.87
Ethereum   10.48
Ripple   30.57
Litecoin   53.90

Source: Coinmarketcap.com 2/16/18 at 10:30 a.m.

The turnaround in cryptocurrency markets comes as equity markets rebounded from the sell-off early in the month, with NASDAQ gaining close to 5% in the last five days—see table 2.

Table 2

ETF   %5d
SPDR S&P 500   3.15
SPDR DJ   3.23
PowerShares QQQ   4.95
Source: Finance.yahoo.com 2/16/18 at 10.30 a.m.

Most notably, the cryptocurrency “technicals” remained strong, with 83 cryptocurrencies advancing and only 17 declining among the top 100 listed currencies—see table 3.

[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don't own any Bitcoin.]

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks

Cryptocurrencies Advance/Decline   Number
Advance   83
Decile   17

https://www.forbes.com/sites/panosmourdoukoutas/2018/02/16/what-could-lift-bitcoin-ripple-ethereum-and-litecoin-prices-back-towards-new-highs/#7a2993d76476
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