Bitcoin rising back – will Ripple and Ethereum do the same?

After suffering a rollercoaster start to 2018 but it appears cryptocurrency market is finally back on the rise after a hacking scandal forced a fall in price.
This morning cryptocurrency are back on the rise after prices dropped amid concerns in South Korea. The market stablished 15th of june morning, registering small gains across the bigger digital tokens. Question is “Will Ripple and Ethereum do the same?”

Prices are bouncing back for most of the cryptocurrencies this week, posting small gains of one or two percent in the early hours.
prices of cryptocurrencies were dropped after South Korean Cryptocurrency exchange CoinRail was hacked, few days ago, resulting an estimated $28 million loss in lesser-known altcoins.

Cryptocurrency exchange CoinRail was breached on the weekend, with the attackers stealing a reported $28 million in altcoins.

Bitcoin prices have increased up by 1.69 percent this morning, trading at$6,623.87 as of 8:30am.

Where Ethereum rose 4.95 percent to trade at $511.38, while Ripple increased slightly to $0.553319. Litecoin posted small gains to trade at $99.31.

Cryptocurrency exchange CoinRail was breached on the weekend, with the attackers stealing a reported $28 million in altcoins.

CoinRail released a statement about the security breached that neglected to mention any of the major cryptocurrencies, prompting a huge crash in prices.

In June alone the cryptocurrency market has lost almost 30% of its total market value.

Tom Lee, Wall street investment firm fundstrat’s CEO, attributes the cash to the launch cboe bitcoin futures, that since the futures have launched in December 2017, prices have plunged and developed into expiration.

In a note on Thursday, Tom Lee said:

“Bitcoin sees dramatic price changes around CBOE futures expirations. This was something flagged by Justin Saslaw at Raptor Group. We compiled some of the data and this indeed seems to be true.”

“Overall, bitcoin has fallen 18 percent in the 10 days prior to CBOE contract expiration.”

According to Mr. Lee, the previous two exceptions to this rule were in February when prices ran up nearly 15 percent into expiration, and April when prices rose 16 percent.

Source: Express-UK

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