What Could Lift Bitcoin, Ripple, Ethereum, And Litecoin Prices Back Towards New Highs

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
Bitcoin19.87
Ethereum10.48
Ripple30.57
Litecoin53.90

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 5003.15
SPDR DJ3.23
PowerShares QQQ4.95

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.

 

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