Bitcoin stuck around USD 3,400 while the stock market recorded a slowdown

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NEWS
Thursday, February 7: most of the 20 best cryptocurrencies report gains from mild to notable on the day, at the close of this edition, with Bitcoin (BTC) hovering again on USD 3,400, according to data from Coin360.

Market visualization from & nbsp; Coin360

Market display by Coin360

At the time of publication, Bitcoin was up a fraction of a percentage on the day, trading at around USD 3,409, according to CoinMarketCap. As for its weekly chart, the current price is a little more than 1.5 percent lower than the price at which Bitcoin started the week.

Bitcoin 7-day price chart

Weekly price chart of Bitcoin. Source: CoinMarketCap

According to TransactionFee data, there have not been as many Bitcoin transactions per day - currently more than 336,000 - since January 2018. However, the current transaction volume is still about 20 percent lower than the historical maximum of more than 406,000 transactions per day, reported in December 2017.

The main Ripple altcoin (XRP) has won the same amount of modes as Bitcoin in the 24 hours prior to the close of this edition and is currently trading at around USD 0.293. On its weekly chart, the current price is lower by 5 percent than USD 0.308, the price at which XRP started the week.

Ripple 7-day price chart

Ripple weekly price chart. Source: CoinMarketCap

Ethereum (ETH), the second largest altcoin by market capitalization, has seen its value increase by only a quarter of a percentage in the last 24 hours. At the time of publication, ETH is trading around USD 104, after having started the day at USD 103. On the weekly chart, the current value of Ethereum has fallen by 2.3 percent from USD 107, the price at which the Coin started the week.

Ethereum 7-day price chart

Ethereum weekly price chart. Source: CoinMarketCap

Among the 20 main cryptocurrencies, those that experience the most notable growth are NEM (XEM), 9.76 percent, Iota (MIOTA), 4.3 percent, and Ethereum Classic (ETC), 3 percent in the day

The stock market is experiencing a smaller drop, with the S & P 500 down 1.5 percent today and the Nasdaq down 1.49 percent. The CBOE volatility index (VIX), on the other hand, has gained 10.7 percent of its value on the day of publication.

Cointelegraph recently reported that an analysis found that the growth recently reported by the stock market is a bullish trap.