Copyright © 2018

Daily Cryptocurrency Tracker 20.12.18: Cryptos show correction

  • Etoro

Following two straight sessions of massive gains, the cryptocurrency market showed a correction over the past 24 hours, most-likely due to profit-taking. Of the top 10 cryptocurrencies, 5 were seen higher at the time of writing, including Bitcoin, which started showing a recovery after dropping below the $3,800 mark.

Highly volatile investment product. This is not investment advice. Your capital is at risk.

Bitcoin Cash continues to climb

While several of its crypto peers registered losses over the past 24 hours, Bitcoin Cash continued to show gains, becoming the only top 10 crypto to show a double-digit increase. At the time of writing, BCH was up by more than 18%, re-establishing itself as the world’s 4th largest cryptocurrency by market cap. Bitcoin Cash also leads the top 10 in weekly gains, rising more than 36% over the past 7 days.

Highly volatile investment product. This is not investment advice. Your capital is at risk.

New crypto aims to make Earth greener

Among the many uses for blockchain and cryptocurrency technology, a new venture is taking shape to utilize the technology for a new goal: battling deforestation. TreeCoin will enable people from around the world to purchase tokens, with the funds going towards buying land in Paraguay and planting eucalyptus trees. TreeCoin’s goal is to sell timber at a controlled rate, using the proceeds to increasingly buy more land and plant more trees, in an attempt to negate some of the harmful effects of deforestation.

eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in price and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance is not an indication of future results. This is not investment advice. Your capital is at risk

The post Daily Cryptocurrency Tracker 20.12.18: Cryptos show correction appeared first on eToro.