Bitcoin Touches $8,200, Gold Hits Its Highest Point Since April

Wednesday, May 15 – All of the prime 20 coins are within the green immediately after seeing some losses over the past day, with some reporting double-digit gains, according to Coin360.

The leading digital currency bitcoin (BTC) is up over 4% around the day, trading at $8,135 at press time right after reaching above $8,200. Earlier currently, bitcoin dropped under the $8,000 price point to trade as low as $7,807. On its weekly chart, bitcoin saw its lowest price point at $5,942 on Might 8, while its highest price point was $8,265 on May 14.

Today, Erik Voorhees, CEO of instant cryptocurrency exchange platform ShapeShift, argued that the volatility observed in bitcoin and altcoin markets through the years is often a necessary phenomenon for a nascent asset, stating that bubbles are an essential part of the industry’s growth.

The second largest coin by industry capitalization, ether (ETH), has almost 15% development inside the last 24 hours, and is trading at about $237 at press time. Through the week, ETH has been steadily gaining in cost, and is at the moment up 39% over the last seven days.

Ripple (XRP) has gained virtually 9.59% around the day, and is trading at $0.432 at press time. The altcoin began the day close to $0.399, progressively reaching the current price tag point. More than the week, the third largest cryptocurrency by market place cap registered its lowest cost point at $0.294 on Might ten and hit the highest worth of about $0.438 earlier today.

Following the coin’s tough fork, BitMEX reported that the bitcoin money network knowledgeable troubles processing transactions.

As CNBC reported earlier these days, spot gold was up 0.1% at $1,298.26 per ounce, having hit its highest level since April 11 at $1,303.26 on Tuesday. U.S. gold futures settled $1.50 greater at $1,297.80.