Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Bitcoin Roller Coaster Ride Continues as Cryptos Trade Higher

Published 07/05/2019, 11:06 AM
Updated 07/05/2019, 11:08 AM
© Reuters.

© Reuters.

Investing.com - Bitcoin traded lower, extending weekly losses, despite overall gains in cryptocurrencies on Friday.

Bitcoin fell 4.2% to $11,346.1 on the Investing.com Index by 11:01 AM ET (15:01 GMT), taking weekly losses to 4.7%.

The typically volatile digital asset has seen a roller-coaster ride since mid-June that took it from $7,888 to a 2019 high of $13,929.8 on June 26 before undergoing a correction that took it to $9,728.5 just last Tuesday.

While still far from all-time highs of nearly $20,000 and despite the large fluctuations in its price on a daily basis, bitcoin has rallied more than 200% so far this year.

Cryptocurrencies overall traded higher on Wednesday, with a total cryptocurrency market capitalization of $323.21 billion, compared to $319.48 billion a day earlier.

That was despite the fact that bitcoin’s closest rivals also saw losses. Ethereum dropped 1.2% to $291.17, down 5.0% on the week. XRP fell 3.1% to $0.3822, off 7.9% in the last seven days, while Litecoin traded down 2.3% to $119.30, but managed to hold onto weekly gains of 0.5%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.