BTC approaches $4,000, NEM surges 9%

09 Mar, 2019 | Updated: 09 Mar, 2019
by Joeri Cant
Price Action
BTC approaches $4,000, NEM surges 9%

The top 20 cryptocurrencies are mostly reporting slight gains on the day, with Bitcoin slowly approaching the $4,000 mark again, while NEM is showing an impressive spike of almost 9%.

According to coinmarketcap.com, Bitcoin is up just 0.40% on the day, trading at around $3,955, while its weekly chart, shows that BTC's current price is almost 3% higher than the price at which Bitcoin started the week.

However, the number one cryptocurrency continues to struggle below the $4,000 mark.

Recently Chepicap reported that crypto market analyst Jani Ziedins of the Cracked Market pointed out that if Bitcoin continues to struggle below $4,000, the case for a bull run is fading.

'Bitcoin continues to hover underneath $4k resistance. It wasn’t all that long ago we were talking about $9k support, then $8k and $7k. $6k and $5k followed not long after. Now $4k turned from a floor into a ceiling', he said.

Read more: 10 times Bitcoin was declared dead… and survived

Among the top 20 cryptocurrencies, the one experiencing the most notable growth is Nem.

NEM is currently trading at $0.046 and shows an impressive surge of almost 9% on the day. With a market capitalization of $414,433,064, NEM is holding on tight to the 19th spot.

The sudden surge for the 19th most popular cryptocurrency might have something to do with the fact that the company has released an outline of their vision to move the coin forward, including an injection of funding to the tune of 25 million XEM, or about 1 million dollars.

After recent news about financial struggles, and layoffs, It looks like NEM is now trying hard to re-position themselves well and, if today's prices are any indication, they might just succeed.

In the meantime stick right here with Chepicap for all your cryptocurrency updates!

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