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Bitcoin Approaches $8,000 as Bitcoin SV Doubles in Value

Tuesday, May 21 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) approaches the $8,000 mark again.

Market visualization courtesy of Coin360

Bitcoin is up over 2% on the day, trading at $7,953 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 2.55%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Bitcoin’s proximity to $8,000 comes as the United States Securities and Exchange Commission reported yesterday that they are “still in information-gathering mode” regarding a bitcoin exchange-traded fund (ETF) from VanEck.

Among the top 20 cryptocurrencies, the one reporting the most notable gains is bitcoin sv (BSV), which is up over 102% at press time.

As Cointelegraph reported earlier today, BSV promoter and self-proclaimed Satoshi Nakamoto has filed U.S. copyright registrations for Bitcoin’s whitepaper and code.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.7 billion. The second-largest altcoin, XRP, has a market cap of $16.6 billion at press time.

CoinMarketCap data shows that ETH is up over 3.1% over the last 24 hours. At press time, ETH is trading around $253. On the week, the coin has also seen its value increase by over 18.5%.

Ether 7-day price chart

Ether 7-day price chart. Source: CoinMarketCap

XRP is nearly three percent up over the last 24 hours and is currently trading at around $0.401. On the week, the coin is up about 4.48%.

XRP 7-day price chart

XRP 7-day price chart. Source: CoinMarketCap

At press time, the total market capitalization of all cryptocurrencies is $248.5 billion, over three percent higher than the value it reported a week ago.

Total market capitalization 24-hour chart

Total market capitalization 24-hour chart. Source: CoinMarketCap

Major oil futures and indexes are seeing mixed movements today, with WTI Crude down 0.13%, Brent Crude up 0.08% and Mars US up 0.13% at press time. The OPEC Basket is down 0.06% and the Canadian Crude Index has seen its value gain 0.6% by press time, according to OilPrices.



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