Bitcoin Price Soars Above $11,600 as Bulls Strengthen Positions

Bitcoin Price ChartBitcoin’s advance has been notable both because it occurred during Chinese New Year — which often places sell pressure on cryptocurrencies — and because US legislators appear to have formed a bipartisan consensus around regulating cryptocurrencies. That Bitcoin continues to rise even against this backdrop is a testament to its growing antifragility in the face of external threats. Ethereum Price Treads Water After Brief Push for $960The Ethereum price appeared determined to join Bitcoin in its surge, but it ultimately proved less buoyant than its older sibling. After briefly rising as high as $959, Ethereum slipped by approximately $25 and is currently priced at $934 on Bitfinex. The second-largest cryptocurrency now has a $91.9 billion market cap, which translates into an 18.2 percent market share and represents a single-day decline of about one percent. Ethereum Price ChartLitecoin Posts Lone Double-Digit Advance as Altcoins FlounderThe wider altcoin markets were a mixed bag for investors, with just one top 10-coin — Litecoin — achieving a noteworthy increase. The Ripple and Bitcoin Cash prices each posted minor declines of more than one percent, reducing their prices to $1.10 and $1,503, respectively. Litecoin — ranked fifth by total market cap — surged by approximately 10 percent, raising its price to $243 and market cap to $13.5 billion. Cardano declined by two percent, leaving its market cap stuck below the $10 billion mark, while the EOS price dipped by just under one percent. The NEO price held steady at $0.42 for the day, while Stellar and IOTA posted respective declines of five percent and four percent to round out the top 10. Featured image from Shutterstock