The cryptocurrency markets have made a big turnaround over the past 24 hours, they had reached lows but now the entire market is a sea of green.
According to CoinMarketCap:
Ethereum (ETH) has risen by more than 8.3% over the past day to US$452.18. This still represents a fall of more than two thirds since the start of the year. Its market capitalisation now stands at US$45.4 billion. It seems to be drifting away from taking the number one crown from Bitcoin.
Bitcoin (BTC) has grown by 8.54% during the past 24 hours to US$6,428.92. It has also lost more than two thirds of its value since December last year. Its market capitalisation has risen to US$110 billion for now.
Ripple (XRP) has risen by 5.72% during the past day to US$0.468. It has fallen significantly since its all-time high of US$3.78 at the start of the year. Its market capitalisation has risen to US$18.37 billion today.
Bitcoin Cash (BCH) has grown by 13.19% over the past 24 hours to US$751.15. It has declined by more than 75% since its high in December 2017. Its market capitalisation now represents US$12.9 billion.
EOS (EOS) has gone up by 9.07% during the past 24 hours to US$8.04. Its market capitalisation has reached US$7.2 billion.
Also, during the past day: Litecoin (LTC) is up 10.5%, Stellar (XLM) is up 9.79%, Cardano (ADA) is up 13.44%, TRON (TRX) is up 5.83% and IOTA (MIOTA) is up 8.26%.
This marks a quick turnaround for cryptocurrencies considering they were hitting 2018 lows just before these rises. The gain could be short-lived, but as a whole cryptocurrencies seem to slowly be heading downwards over time.
I'd rather put my money into an exciting software business with long-term growth like Altium Limited (ASX: ALU) or Appen Ltd (ASX: APX).
