The top 20 cryptocurrency coins in the market witnessed significant profit, which is a good sign for crypto markets. Bitcoin, the most dominant digital asset as of today, broke through the $11,000 mark once again.
Bitcoin recovered after falling below $11,000 last July 14. The digital asset managed to approach near the price threshold after reaching $10,944 in intraday trading. Bitcoin rose 3.7% to its price at press time to trade at $10,922. The cryptocurrency witnessed a volatile week following a sharp decline to as low as $9,500.
Ether, currently the second-highest cryptocurrency by value, rose by over 5% and traded at $232 by press time. In the past seven days, the altcoin witnessed a fall of 13.4% on average. Ripple, the third-highest cryptocurrency, was able to see an increase of 6.4% and was trading at $0.339. Ripple managed to do better in growth compared to Ether for the week after getting a 2.6% rise.
The most significant growth in the market among the 20 best crypto coins belongs to Bitcoin SV, which is currently in ninth place. Bitcoin SV’s value rose by over 25% in value. The cryptocurrency market value is at $298 billion despite falling below $250 billion at the start of the week. The $63 billion daily trade volume helped crypto coins reach the total market capitalization amount.
Sam Doctor, Fundstrat Global Advisors managing director, predicted that crypto markets would witness significant gains. Doctor also shares that the cryptocurrency is preparing to engage in talks with Bakkt for Bitcoin futures contracts. The prediction by Doctor was correct after the top 20 digital assets witnessed growth. Meanwhile, investors waiting on the futures contracts will anticipate its rumored launch during the third quarter of 2019. Anurag Thakur, the Minister of State for Finance in India, reveals that citizens are free to use cryptocurrencies since no laws are banning them from indulging in the trending market.