Cryptocurrency Is Still Red, Bitcoin Price Is Strengthening Thinly

JAKARTA - The exchange rate of Bitcoin and other cryptocurrencies in the marketplace was opened weak on today's trading. Bitcoin price is still stuck at 9,182 US dollars per coin.

Quoting Coindesk, at 09.50 WIB, the Bitcoin exchange rate had corrected a positive 0.08 percent in the last 24 hours. Even so, the cryptocurrency price was observed to stagnate following the weakening of bitcoin.

"After a brief consolidation in the $ 9,000 range, bitcoin is starting to adjust, with a likely growth approaching $ 9,200 in the next trading session," said Constantin Kogan, partner at cryptocurrency fund of fund BitBull Capital, Tuesday, July 21.

According to Kogan, the short move from Bitcoin was greeted positively by cryptocurrency traders. So far, the market trading performance against bitcoin has been quite stagnant during the month of July.

On the other hand, Ethereum (ETH) is the second largest cryptocurrency by market cap, bouncing up on Monday's trade around 236 US dollars. This figure was corrected up 0.050 percent in the last 24 hours.

"If ETH manages to hold around $ 262 for more than a few hours, that would be very positive," said Jack Tan, of Taiwan-based quantitative firm Kronos Research.

The average transactions per second on Ethereum hit an unseen high for years. As of July 13, the network processed more than 13 transactions per second, the highest since January 15, 2018 according to the Blockchain data aggregator.