Bitcoin Defends $4,000 Price Point, Stellar Lumens Overtakes Litecoin

Investing, News | January 7, 2019 By:

The crypto markets are seeing a mix of green and red today, with bitcoin still hovering around the $4,000 price point. The bitcoin price showed minor upside movements as it maintained yesterday’s strong gains.

Stellar Lumens (XLM) is the biggest gainer with over 6% in the past 24 hours, overtaking Litecoin for the sixth-largest market cap position.

David Thomas, Director and Co-Founder of GlobalBlock, said bitcoin “hasn’t shown immediate signs of pushing on,” despite breaching the $4,000 level.

Thomas adds, “While those within the space are “perennially¬†optimistic” on the long term success of the sector and hopeful of a solid recovery in 2019, broader macro-economic factors could interfere with these plans with various well documented issues rumbling on and showing no definitive end in sight. If this is the case and global markets come under pressure, then there is argument to say that risk aversity will increase and this could supress expected investment levels into the sector, thereby stifling its growth.”