Bitcoin and Ether Market Update: October 3, 2019

The total crypto market cap added $9.8 billion to its value since September 30, and now stands at $222.8 billion. The top ten coins are all in green for the last 24 hours with Cardano (ADA) and ether (ETH) being the best performers with 2.9 and 2.4 percent of gains respectively. At the time of writing bitcoin (BTC) is trading at $8,352 on the Bitstamp daily chart, while ether (ETH) stands at $179, and Ripple’s XRP climbed up to $0.251.


Bitcoin fell down to $8,045 on Sunday, September 29, and closed the week with a 19.8 percent of price decrease.

The most popular cryptocurrency opened the new trading period with a highly volatile session on Monday; the coin was trading in the wide range between $8,377 – $7,714. Bulls were not only able to avoid a drop below the critical level of $8,000 but also regained positions at $8,300. As we pointed out during our previous analysis, the mentioned level is the last major support before $8k.

The BTC/USD pair closed the month of September 13.5 percent lower compared to August. The start of the new 30-day trading period did not bring any sudden changes as BTC remained relatively flat around the $8,300 level.

On Wednesday, October 2 bitcoin moved up to $8,382 and formed its third consecutive green candle on the daily chart. In the early hours of October 3, the coin is trading at $8,352.

A piece of interesting news came out this week involving major industry players. A group of heavyweights in cryptocurrency announced the creation of a new digital assets rating system called the Crypto Rating Council. Read More...