Market update
Bitcoin broke through the $11,000 mark earlier this morning to record the best price since late November. At the time of writing it was up 6.33% on a week ago and trading at $11,200. Everything else increased substantially including Ethereum (8.4%), Ripple/XRP (12.6%), Bitcoin Cash (16.5%), Litecoin (7.35%) and Stellar (7.4%). Bitcoin SV increased by 20.4%.
Bitcoin has entered one of its regular nerve-testing periods of volatility. After dipping below $9800 earlier today, it recovered to $10,700 at the time of writing. It’s currently down 13.4 percent for the week and 22.1% for the month. While most of the top ten was in the green this morning, they’re all down significantly for the week. Ethereum (-18%), EOS (-20.5%), XRP (-13.7%), Bitcoin Cash (-16.1%), Litecoin (-18.5%) and Stellar (-14.7%). The Fear and Greed index is at 17, or ‘extreme fear’. At times like these it’s worth remembering that good traders don’t make emotional decisions and they stick to their plans.