July 2019 Crypto Market Review
The crypto market in July has been up and down – it’s been a roller coaster month! Let’s see what ride the main cryptocurrencies have been taking.
Bitcoin’s Adventures in July
After an impressive growth, breaking a €11,338 price mark on June 26 and then dropping almost 14% in price the day after, Bitcoin has been standing still for a while holding on to the €10,000 benchmark. Next takeoff happened on July 9, when Bitcoin reached €11,216 and experienced another drop of 13.02% a week after.
For the last couple of weeks, Bitcoin price has been sticking around the €9,000 with the current price of €8,749.
The price swing was not the only challenge Bitcoin experienced this July. It also got attention from the President of the United States of America. In mid-July, Donald Trump expressed his opinion saying that he was not a fan of Bitcoin and other cryptocurrencies. Did it give Bitcoin an immediate boost or a drop? Neither really, although different analytical sources rushed to evaluate if and how this could affect the crypto market’s future.
More news about Bitcoin came from Scandinavia: Norwegian Air, one of the largest European budget airlines, will be accepting bitcoin as a payment for tickets. It’s not the first air company selling tickets for BTC, and for us as for crypto enthusiasts, it’s extremely pleasant to see how crypto enters the daily life more and more.
Other Top Assets in July
Let’s see how some of the other assets have been doing in July. And of course, all of them are tradeable on CoinMetro’s platforms!
Highly anticipated release of Ethereum 2.0 is one of the factors affecting the ETH price, however, there is still a long way till we see this update. Meanwhile, end of June and beginning of July looked quite promising for the second biggest cryptocurrency. Same can’t be said about the rest of July, right in the middle of which ETH dropped below €200 and currently stands at €190 mark.
Ripple’s position in July has been quite stable. Will the open letter to United States regulators signed by Ripple’s CEO, Brad Garlinghouse, and Co-founder, Chris Larsen, affect the growth in any way? We’ll see soon enough. So far the XRP’s price is €0.28.
Litecoin did not escape the Mid-July crypto roller coaster: after a stable growth in the beginning of the month and reaching €110, LTC has started to drop and currently costs €83.
Bitcoin Cash seems to share the fate of its “older brother” Bitcoin, surviving almost a 15% drop two weeks ago and settling down at the €291 mark. An interesting fact: Vitalik Buterin, Ethereum co-founder, has offered to use Bitcoin Cash blockchain as a workaround to solve scalability issues in the Ethereum network.
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