Category: Financial Markets

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Currencies

Bitcoin is almost in the same position as it was a week ago

According to CoinGecko, it has been flat for the past seven days and down roughly 0.5 percent in the last 24 hours.

Bitcoin did briefly soar above $39,000 the previous Sunday, thanks to a tweet from Tesla CEO Elon Musk (TSLA) – Get Report. It also topped 40,000 last week, but the value for the month has been rather consistent, as it was about $34,473 on May 23. This is good news for a coin that was worth less than $10,000 a year ago and more over $64,000 in April.

In terms of other cryptocurrencies, Ethereum’s ETH has dipped somewhat in the same time frame, hovering around $2,259.81 on Sunday. That’s a 5% drop in a week and a 2.6 percent increase in the last 24 hours.

Dogecoin saw the greatest drop this week, falling nearly 10% to 28 cents. This represents a 2.7 percent decrease in the last 24 hours.

However, bitcoin’s present value demonstrates the currency’s inability to move dramatically up or down in recent weeks. It had dropped precipitously in the months since hitting a high of over $64,000 in mid-April.

Source: thestreet.com

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