Bitcoin Goes Over $8,000 – Oil And Stocks Go Down

By Adrian Cruce

The Bitcoin market saw a really solid break at above $7,400 and then actually went over $8,000. All of the top 20 cryptocurrencies showed gains, with stocks and oil prices going down.

Ethereum also had an increase of a little over 7% in the past day, with a trading price of $202.65 at the moment. Weekly growth chart went over by 15%.

Ripple showed lower significant daily gains, with 5.15% in the green, leading to a price of around $0.327. The highest point of the jump was $0.335, this also being the highest point of the week. For the entire week, the price of Ripple went up by almost 8%.

Bitcoin and the other mentioned cryptocurrencies were not the only ones to go up. We also saw double digit gains showed by Binance Coin, Tezos, IOTA, Ontology and Bitcoin Cash. The total market capitalization for the cryptocurrencies at the top of the day was over $234 billion, with the start value for the day being $209 billion.

Although digital asset markets did go up, stocks did go down. This happened because China made a choice to raise US good tariffs. Dow Jones Industrial ended up losing 2.4%, which is the worst session ever since January 3. S&P 500 showed a similar downturn. Nasdaq Composite dropped even more, 3.4%, being the largest loss for a day for the entire year.

When looking at oil futures, losses were also reported. Brent crude futures went down 42 cents and WTI (West Texas Intermediate) crude futures lost 1% value.

This type of market evolution is what draws people to cryptocurrencies and makes them say that it is better to invest in digital coins than in oil or stock. While this statement is definitely exaggerated at the moment, it might be a sign of the future.