August 5: After yesterday’s market nosedive, Bitcoin[1] (BTC) is up just slightly, hovering around the $7,000[2] mark. All major altcoins are however showing marked signs of recovery, up between one and seven percent, as data from Coin360[3] shows.
Market visualization from Coin360[4]
Bitcoin[5] (BTC) is trading around $7,040 to press time, holding ground on the day after its rapid tumble[6] yesterday back to a price point not seen since July 17. The leading cryptocurrency could now be eyeing $6,800 as a short-term support, after several faltering pushes above the $7,000 threshold earlier today failed to hold. Bitcoin’s weekly losses are now at around 14.05 percent, with monthly gains pinched to just under 8 percent.
Bitcoin’s 24-hour price chart. Source: Cointelegraph Bitcoin Price Index[7]
Ethereum[8] (ETH) is seeing slightly more significant daily gains, up 1-2 percent to trade around $412 at press time. The leading altcoin has nonetheless sustained a gradual decline to lose over $50 in value on its weekly chart, posting around a 11.35 percent loss. On the month, Ethereum is down 11.66 percent.
Ethereum’s 7-day price chart. Source: Cointelegraph Ethereum Price Index[9]
On CoinMarketCap[10]’s listings, all of the top fifteen coins are in the green, posting more solid gains between one and seven percent on the day.
IOTA[11] (MIOTA) is a significant outlier, showing the strongest signs of recovery of the major altcoins with a solid 7.21 percent gain to trade around $0.91 at press time. Of the top ten coins, Cardano[12] (ADA) is the second
