29 Aug 2018 Arjun Agarwal
Bitcoin Price Reaches the $7,000 Mark
On the same day, all the top 100 cryptocurrencies, except three altcoins, made a huge leap of up to 20%.
The value of Bitcoin (BTC) is estimated at around $7,016 which is estimated as a bit more than a 4% gain.
Some of the latest events, like the cryptocurrency measures in China and government regulations by the SEC (Securities and Exchange Commission), significantly affected the price of BTC.
The number one coin reached lower prices than the $6,400 mark on August 22nd and after a few days, it hit $7,076, pleasing Bitcoin investors. Combining the total with its monthly gains, it looks like BTC achieved almost a 10% growth in the last month of summer.
On the same day, Ethereum (ETH) also moved further by a stable 3.4% and is exchanging at around 290 USD. Even though it has not regained the $300 point from last year, the price performance of ETH has been remarkable.
Solid profits are distributed among the other top ten coins. Cardano (ADA) is trading at $0.10 with a 9% gain, Litecoin (LTC) has topped the 7.64% and Ripple (XRP) holds the 7.3%t with $0.35.
One of the biggest breakthroughs was done by IOTA (MIOTA) who blew the competition by 19.4% and is selling at around $0.71 now. A contributing factor was a statement done the previous day declaring that the Japanese company Fujitsu is ready to launch IOTA‘s proof-of-concept (POC) to complete audit trail processes.
The list of huge escalations on August 28 enters TRON (TRX) with up to 14.5%, NEO with more than 15% and DASH which has risen by the incredible 27% and is exchanging at $186.54.
The total market capitalization of the uppermost cryptos is close to 230 billion USD which is 15 billion USD more than Monday.
Other than that, the blockchain technology caught the attention of two globally-renowned audit firms Deloitte and PwC with their latest reports, showing a huge percentage of enterprise executives satisfied with the future potential of it.
Inside the banking sector, Lori Beer - JP Morgan‘s Chief Information Officer, has stated that he has no doubt the blockchain is soon to replace the current technology.
A blockchain liquidity provider HQLAx made a partnership with Deutsche Boerse - a Germany based stock company with a million euro investment.
Furthermore, the government of South Korea announced a blockchain hackathon created to encourage the technology‘s surge into more public and private sectors in the country.Bitcoin