Following multiple downfalls below the $4,000 USD benchmark earlier in the month of Nov., the major cryptocurrency Bitcoin [BTC] has managed to finally hold its mark up above the $4,150 USD crypto support for today. Bitcoin [BTC] for today is trading at around $4,195.23 USD which is up 4.82 % over the past 24 hours to the reporting time. Bitcoin [BTC] is down around 1.8 % over the week, according to crypto market index data provided by CoinChangelly.
The second major cryptocurrency by market capitalization Ripple [XRP], is observing good gains for today, up by around 3.03 % over the past 24 hours and is presently trading at around $0.3735 USD as at the reporting time. Ripple [XRP] has seen considerable losses over the week, down more than 7 %.
Litecoin [LTC] and Cardano [ADA] are seeing the biggest gains among the top 20 coins by crypto market capitalization. Litecoin [LTC], ranked 7th position, is up 7.83 %, also holding a significant grown over the week — more than 8 % while Cardano [ADA] is up 8.73 % seeing around 6 % gains over the past week.
Bitcoin Cash’s [BCH] hard fork Bitcoin SV [BSV], is seeing a massive increase over the last week, up more than 44 % at the reporting time. The hard forked crypto-currency is ranked on the 9th position as by market capitalization and is trading at around $95.27 USD, seeing a considerable growth over the day — around 3.53 %.
Total market capitalization has seen a marked increase over the day, having spiked from around $128.3 Bln to as high as the current $136.302 Bln. Daily trade volume seems to be stable, accounting for $16 Bln, while seeing a small drop to $16 Bln at the reporting time.
Yesterday, Pompliano emphasized 7 fundamentals of Bitcoin [BTC], pointing out the increasing number of Bitcoin digital wallets along with the growth of the amount of daily confirmed transactions.
The crypto believer also outlined the growing power of Bitcoin’s hashrate, claiming that it has almost “quadrupled over the last year or so,” while the no. of Bitcoin nodes has been around 98 % up over the last two year’s, the expert added, citing data from Bitnodes.
Concluding his research and analysis, Pompliano stated that the worth of a crypto-currency is “only one measurement of value for an asset,” stating that underlying several other fundamentals are the main focus of the future worth of the digital currency. He added:
“Don’t be distracted by the noise. Focus on the fundamentals. Bitcoin [BTC] isn’t going anywhere.”