Bitcoin Approaches $3,500 as Top Cryptos See Mixed Signals
At press time, Bitcoin is down under half percent on the day, trading at around $3,489. Looking at its weekly chart on CoinMarketCap, the current price is about 3 percent lower than $3,604, the price at which Bitcoin started the week. Ethereum (ETH), the second-largest altcoin by market cap, has seen its value increase by about half a percent over the last 24 hours. At press time, ETH is trading around $108, having started the 24-hour period about 1 dollar lower. On the weekly chart, Ethereum’s current value has dropped about 7 percent from $117, the price at which the coin started the week. In traditional markets, the S&P 500 is up slightly, closing 0.1 percent higher on Friday, while the Dow Jones Industrial Average also saw slight gains — reportedly posting a 6-week winning streak after a strong U.S. jobs report. The growth currently reported by the stock market is a bull trap, according to a MarketWatch analysis.