Wednesday, 13 November 2019

Thanks in Part to Square Cash, Bitcoin Prices Climbed Nearly 10%

The price of Bitcoin surged nearly 10% Wednesday thanks to a Forbes report about Square Cash giving a small test group of its users the option to buy or sell Bitcoin.
Square CashAccording to the report, Square's customers have been asking the company if they can buy and sell Bitcoin.

"We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we're excited to learn more here," a representative said in a statement.

Below is a recap of the top cryptocurrency prices at 3:30 p.m. EST

Bitcoin: $7,260.78, +9.75%
Ethereum: $331.94, -0.05%
Bitcoin Cash: $1,230.01, -5.55%
Ripple: $0.211, +1.48%
Litecoin: $64.09, +1.33%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…

Cryptocurrency Markets Today

On Wednesday, the market capitalization of the global cryptocurrency sector hit $219.45 billion.

Top performers from the largest 50 cryptocurrencies by market capitalization included Hshare (up 30.39%), IOTA (up 20.80%), Lisk (up 18.19%), Factom (up 18.03%), GameCredits (up 15.77%), Pura (up 13.44%), and Cryptonex (up 12.77%).

The worst performers from the top 50 largest cryptocurrencies by market capitalization included B3Coin (down -19.34%), ZCoin (down -5.58%), Syscoin (down -4.56%), Cardano (down -4.14%), BitcoinDark (down -3.02%), and DigiByte (down -2.90%).

Ethereum Price Update

The Ethereum price has been hovering above $330.00 thanks to the recent uncertainty surrounding Bitcoin.

Must Read: How to Buy Bitcoins – Your Guide to Digital Profits

Even though Ether developer Vitalik Buterin said that he plans to take fees in the future from applications created on the network, the price has mostly been flat.

The current price is at its highest level since mid-October.

IOTA Rallies 20%

IOTA surged into the top seven cryptocurrencies by market capitalization.

The cryptocurrency, which supports transactions on the Internet of Things (IoT), has been rising thanks to a price pump on lower volumes.

Buy On the Dip

When Bitcoin drops significantly, it might be time to buy on the dip.

According to a new report from Genesis Global Trading, Bitcoin has recovered strongly due to increased volatility.

The report stated the last four times that Bitcoin prices have declined by more than 20% in 2017, the cryptocurrency has recovered by an average of 28% over the following two weeks.


Legal disclaimer: The insight, recommendations and analysis presented here are based on corporate filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. They are presented for the purposes of general information only. These may contain errors and we make no promises as to the accuracy or usefulness of the information we present. You should not make any investment decision based solely on what you read here.

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