Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
Cryptocurrency Prices Today: On Monday, the Bitcoin price remained stable ahead of the activation of SegWit and the BCC hard fork set for tomorrow, Aug. 1. Just a small stable of Bitcoin miners will "fork" to create a new variation of the cryptocurrency called Bitcoin Cash.
While the hard fork is generating the headlines today, markets are still digesting the latest statements from financial regulators around the globe on the security and oversight of cryptocurrencies.
Last week, the U.S. Securities and Exchange Commission (SEC) announced that any "virtual organization" selling "digital assets" is subject to federal securities laws.
On Monday, the total market capitalization of cryptocurrencies surpassed $90.5 billion as the market continues to recover from a recent downturn.
Below is a recap of cryptocurrency prices at 2 p.m. EDT...
Bitcoin: $2,804.16, +2.67%
Ethereum: $201.96, +0.30%
Ripple: $0.169, +1.48%
Litecoin: $43.20, +6.39%
Dash: $176.25, +0.53%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies...
Bitcoin Prices Today: Bitcoin Hard Fork in Focus
Aside from investors excited about the fork, there was also a bullish report shared from financial analyst Ronnie Moas, who projected that Bitcoin would roughly double and hit $5,000 in 2018.
What Is Bitcoin?
In a 122-page report, Moas said he's been purchasing Bitcoin, Ethereum, Litecoin, and Dash.
Ethereum Prices Tick Above $200
Ethereum prices added 0.3% to hit $201.96. It's been a very difficult July for Ethereum investors, with prices falling more than 30% heading into today's trading session.
Moas predicted in his report that Ethereum prices will hit $400.00 in 2018.
Ripple Prices Follow Bitcoin Higher
Ripple prices showed a small gain, but the cryptocurrency is still off more than 10% for the final week of July.
Must Read: The Ultimate Guide to Profiting from Bitcoin - Free Report
Litecoin Prices Press Higher Thanks to Bullish Moas Report
Litecoin was the top performer on Monday, adding 6.39% at the time of this writing. In his report, Moas projected that Litecoin prices would hit $80 in 2018.
However, there have been reports that many traders are concerned that Bitcoin's SegWit activation could affect the incentives to use Litecoin.
Prices had increased as high as $55 in July, as many speculated that SegWit may not be activated.
Dash Prices Show Small Gain, Follow Ethereum
Dash prices continued to tick higher thanks to the uptick in other currencies. Traders continue to speculate on the coin's roadmap to reach mass adoption in the years ahead. Last week, Dash received good news when it was accepted into the Apple Inc. (Nasdaq: AAPL) App Store. Dash's CEO said over the weekend that the firm had roughly 2,000 downloads on the App Store since it was permitted.
Up Next: What's the Best Cryptocurrency to Invest in Today
Follow Money Morning on Twitter, Facebook, and LinkedIn.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.