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Bitcoin Reaches $3,800 as Crypto Markets Experiences Mild Downturn

News reaching us that on Friday, Jan. 4 crypto markets tipped back into red, most cryptocurrencies are today seeing some further corrections.

Top cryptocurrency Bitcoin (BTC), a day after the tenth anniversary of its genesis block, is down over 2 percent over the 24 hours to press time, and is currently trading around $3,798. The coin has failed to break back above the $4,000 price point, despite several bursts of growth over the course of the past week — and has largely traded range bound between $3,800 – $3,900.

Bitcoin is up about 3.5 percent on the week. One month ago, Bitcoin was trading around $4,000, and is down around 5.4 percent to press time.

Also Read: How To Mine Bitcoin Online Using Digital Currency Platforms

Ethereum (ETH) — which this week reclaimed its former ranking as largest altcoin by market cap — is seeing almost no change on the day to press time, trading at about $150. With a market cap of $15.6 billion, the asset is continuing to inch further ahead of second-largest altcoin by market cap Ripple (XRP), which has a market cap of $14.5 billion to press time, according to CoinMarketCap data.

In crypto regulatory news, the government of Ireland yesterday approved a bill that would give effect to the European Union Fifth Anti-Money Laundering Directive, which will impact cryptocurrency users.

About Michael Iyeyi

Michael Iyeyi, CEO of Alphatekng.com is a humble tech enthusiast, a blogger, and a music freak with passion to impact lives positively.

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