Bitcoin is recovering after reaching close to its lowest price of 2018, which resulted in a cryptocurrency market crash that saw ethereum, ripple and other digital currencies to tumble in value.
The collapse followed bitcoin’s worst ever start to a year, having traded close to $20,000 as recently as December.
The notoriously volatile cryptocurrency continues to behave unpredictably – this live blog will be regularly updated with the latest news and significant changes.
Bitcoin shifted in price by just 0.1 per cent since this time yesterday, continuing a week-long run of stability.
- Bitcoin: $6,464
- Ethereum: $285
- Ripple: $0.33
- Bitcoin Cash: $534
- EOS: $5.34
The remarkable lack of market movement has been largely reflected by other major cryptocurrencies, according to CoinMarketCap, with ethereum, ripple and bitcoin cash all holding firm over the last 24 hours.
The first -ever state-backed cryptocurrency is proving integral in Venezuela’s plans to rescue its collapsing economy.
Venezuela president announced that the country’s bolivar currency will now be pegged to the petro cryptocurrency in the hope that it will increase economic stability.
Author: Temitayo Olojede , temity@bitkonga.com
