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Bitcoin Rises Above $7,000 In The Current Upswing

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Digital currencies are continuously rising in the current upswing starting on July 16th. This positive move is looking to potentially correct the continued market drop which started back in January. Bitcoin is currently trading around 7,400 dollars, which is an 9% move in the last 36 hours. This latest move is seeing Bitcoin net positive territory for the first time this month.

Ethereum moved up by 4% and is currently trading at around $495 and is securing a positive weekly move of roughly 8%. However, Ethereum’s monthly performance is still 6% negative. In general, all the top 10 digital currencies have had a positive move in the last 36 hours.

The most anonymous altcoin, Monero, was the strongest performer of the top 20 digital currencies moving up by 9% during the upswing. Monero is currently trading at around $144. Ripple also had a strong performance in the last 36 hours. In fact, Ripple’s performance was similar to that of Bitcoin seeing a 6% move and is now trading at around $0.50. This positive run is seeing the general crypto market cap rise to around $286 billion.

The movement seems to have started after management heavyweight BlackRock, which holds an asset base of over $6.3 trillion, set up a team to look into digital currencies, especially Bitcoin, to understand how the market could benefit the company. Furthermore, reports are emerging indicating that famous Chartered Financial Analyst is adding Blockchain and cryptocurrency topics to its curriculum. This move is great because the introduction of the crypto lesson will bring a widespread knowledge of the market, especially to the financial mainstream.

More Important Happenings

In other positive news, Coinbase received clearance to list several, but specific crypto assets, which are considered to be securities. Additionally, Boeing announced that it’s partnering with an artificial intelligence company to develop vehicles using Blockchain technology.

All this positive news is leading the crypto markets into a positive surge. The cryptocurrency markets have been having a hard time since January. This was mainly because of regulatory talks as well as cybercrime reports. Both have have seen the cryptocurrency sector lose more than $1 billion in 2018.

Source: https://cointelegraph.com/news/bitcoin-above-7-000-as-positive-momentum-continues-following-yesterday-s-market-upswing

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