Wednesday, April 22 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time. This mid-week rise comes after Bitcoin (BTC) broke the $7,000 mark for the third time this week.
Market visualization courtesy of Coin360
Bitcoin 7-day price chart. Source:Coin360
The total market capitalization of all cryptocurrencies at time of publication is $203.1 billion. That’s about 5.12% lower than the value reported a week ago.
In the traditional markets, the US stock market is seeing slight gains today as well, with the S&P 500 up 1.61% and the Nasdaq up 1.85% at press time. The CBOE Volatility Index (VIX), on the other hand, has lost 4.25% during the same period.
Major oil futures and indexes are seeing mild gains today, with WTI Crude up nearly 27%, Brent Crude up 12.11%, and Mars US down 52% at press time. The OPEC Basket is down by nearly 22% and the Canadian Crude Index has gained 35% over the 24 hours by press time, according to OilPrice.
As Cointelegraph reported earlier today, an analyst recently claimed that if Bitcoin manages to regain and hold $7,200, the market will rally until the upcoming block reward halving.
Joseph Spezzano received a Masters Degree in computer science from The University of Massachusetts. Joseph has been working as a full-time blockchain programmer for the past 5 years. In his spare time, Joseph enjoys writing for CryptocurrencyInvestments.com and traveling.