Bitcoin’s correlation with gold has been weakening recently. The precious metal surpassed $1,700 mark for the first time since 2012 amid global flight to safety in times of economic uncertainty inspired by coronavirus outbreak. However, Bitcoin dropped below $7,000 after a series of unsuccessful attempts to settle above $7,500.
At the time of writing, Ethereum (ETH) is changing hands at $158.70. The coin has gained 2.3% in the recent 24 hours and 1.5% since the beginning of Tuesday. The second-largest coin with the current market value of $17.5 billion has recovered from Monday’s low $149.84, however, the further upside seems to be limited by daily SMA50.
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Ripple ha settled below $0.1900, which is a bearish signal for the coin in the short run. At the time of writing, XRP/USD is changing hands at $0.1880, mostly unchanged since the beginning of Tuesday, though it has regained some ground on a day-to-day basis. Ripple is now the third-largest digital asset with the current market value of $8.27 billion and an average daily trading volume of $2 billion.
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