Cryptocurrency markets are turning green, with Bitcoin showing signs of recovery above the $8,200 price mark.
Sunday, Oct. 20 — Crypto markets are slowly turning green, with Bitcoin (BTC) showing signs of recovery as it finds its way back above the $8,200 price mark.
Bitcoin has been trading below the $8,000 price mark for the better part of the day but is showing signs of recovery in recent hours. The world’s largest cryptocurrency traded at an intraday low of around $7,950, before grinding its way up to its current trading price of around $8,216. BTC is reporting gains of 3.73% in the past 24 hours.
Bitcoin seven-day price chart. Source: Coin360
Two days ago, the 18th million BTC was mined, leaving the world with only three million coins to mine, which was enough reason for crypto-sceptic Peter Schiff to claim that Bitcoin’s future “looks horrible” and that it is just a matter of time before the most popular cryptocurrency will experience a “rapid descent down to $4,000 or lower!”
Ether (ETH), meanwhile, is currently sitting at $174.80 per coin. The number one altcoin saw a small upward tick in sync with BTC and is showing a gain of 2.26% at press time.
Ether seven-day price chart. Source: Coin360
XRP has been trading relatively flat for most part of the day. The third-largest coin by market capitalization is currently trading at $0.293 per coin, up 0.82% at press time.
XRP seven-day price chart. Source: Coin360
Top-20 altcoins turn green
All of the top-20 coins are showing green candlesticks, with some reporting small, modest gains, while others are taking impressive jumps forward. Cosmos (ATOM) and Chainlink (LINK) are both taking the lead in the top 20 with gains of 6.73% and 5.73% on the day, followed closely by Bitcoin Cash (BCH), which reports a 5.22% gain.
The overall cryptocurrency market cap increased from $217.5 billion to $222.5 billion, with Bitcoin making up 66.6% of the total.