Mainstream media and other news outlets are buzzing with the news that bitcoin is reaching new highs. In an article by Reuters, they state that Bitcoin hit a record $1,760.40 BTC=BTSP on the BitStamp platform and was last at $1,747.89, up 6 percent on the day. So far this year, bitcoin has surged nearly 80 percent. Bitcoin’s market capitalization on Tuesday soared to $52.5 billion, according to data from coinmarketcap.com.
Read more: Bitcoin surges to all-time high above $1,700
Altcoins are taking a dip as reported by Bitcoin.com – As far as the top ten cryptocurrency market caps below bitcoin, most all of them have seen price dips over the previous 12 hours. Ethereum (ETH) prices have dropped to a low of $88 per ETH, but still holds $8 billion in market capitalization.
Ripple (XRP) has seen an enormous jump over the past 48 hours as the price hit an all-time high of $0.23 cents per XRP. The Ripple market had also temporarily eclipsed the Ethereum market for a short period taking the number two position. However, Ripple’s prices have since dipped to a low of $0.17 cents per token.
The rest of the coins in the top ten are seeing price declines between 5-30 percent over the past 24 hours. Litecoin (LTC) is $27, NEM $0.11, Dash $90, Ethereum Classic (ETC) $6, Monero (XMR) $28, Stellar (XLM) $0.02, and Steem is back at $0.80 per token.
Why is there a dip in the altcoin market? Read more: Kraken and Poloniex DDoS Leads to Trader Losses
Read more: What is Driving the Bitcoin Price?
Read more: Getting started with Bitcoin
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