Bitcoin (up 4% week-on-week) set new all time high price records this week, where Bitcoin price going up to $6180 with a total market capitalization of over $100 billion on Friday before settling in the $5900 range on Sunday as of publishing this article. Bitcoin has held its current price quite steadily for the last two weeks and is making sturdy positive growth leading up to the Segwit2x hard fork expected to take effect in November as well as the Bitcoin Gold Hard Fork scheduled on October 25. A lot is going to happen in cryptocurrency market in the coming weeks, till then here is a Top Ten Cryptocurrency list as on 22 October 2017.
The price movement has not been as pleasant for altcoins this week with all the major cryptocurrencies other than Bitcoin taking low to moderate losses. The biggest losers have been established coins like:
Ethereum (-12% w-on-w), Ripple (-21% w-on-w), along with privacy coins like Dash (-10% w-on-w) and Monero (- 11% w-on-w).
The slow decline that began two weeks ago, as more and more people are dumping altcoins to get free Segwit2x coin is, is expected to last until the fork takes effect in mid November. This pattern is very similar to what we saw before the August 1, 2017 hard fork which led to the creation of Bitcoin Cash, where altcoins saw significant losses leading up to the hardfork and saw the growth in price after the fork.
Overall, the cryptocurrency market seems to be continuing the trend that its sustained for the last two weeks where Bitcoin is the biggest consistent gainer, acquiring more Market Dominance (around 58% as of writing this article) and setting new all-time high price records while altcoins languish in the face of the upcoming hard fork. But, this provides a good opportunity for investors to accumulate coins with good long term potentials.
Top Ten Cryptocurrency List as on 22 October, 2017
KryptoMoney.com publishes a list of top ten cryptocurrency on every Sunday. This is our 24th weekly report and the previous one was published on 15 October 2017.
|4||Bitcoin Cash||$5,751,137,905||$344.22||16,707,788 BCH|
*Market Capitalization is calculated by multiplying the price with the supply of cryptocurrencies in circulation.
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