After getting used to seeing a lot of green in the crypto markets, the week has ended with them in the red. However, the decline in price is slight.
Bitcoin was down 2.8% on the day on Thursday 11th, after hitting a multi-month price high of over $5,420 on 10th April. The correction on the 11th brought its weekly gains to 3.3%, according to Cointelegraph.
Ethereum took a bigger hit, losing 7.8% on the day. It did gain 3% on the week, but has had a somewhat spiky trading pattern over the last few days, first growing to hit an intra-week high of over $180 on 8th April 8, before stumbling to its current price point of $163 on 12th April.
XRP showed a loss of 5.8% on the day on 11th April. According to its weekly chart, XRP peaked at $0.373 on 5th April, and has seen a consistent decline since then. XRP is now down close to 2.4% on the week.
Litecoin, which made strong gains initially, has suffered more than other altcoins this week, and yesterday was down 9.8% on the day. Bitcoin Cash has suffered a similar fate and was down 8.35% on the same day. The total market capitalization of all cryptocurrencies is currently around $173.2 billion, down 0.4% on the week.
Brexit news affected the European markets. Following the announcement that the UK would be given an extension until 31st October, the markets edged slightly lower and CNBC reported “sectors and major bourses were pointing in opposite directions.”