Market Wrap: Bitcoin Loses Momentum at $19.4K; Ethereum Fees Increasing

Source: TradingView Bitcoin closed in on the $19,500 price point Wednesday, hitting as high as $19,474, according to CoinDesk 20 data, before losing momentum, down to $18,883 as of press time. Source: St. Louis Federal Reserve And while many market observers talk about bitcoin’s proximity to an all-time price high, many are ignoring the impact ether has also had on the market.

Ether fees increasing Ether (ETH), the second-largest cryptocurrency by market capitalization, was down in Wednesday trading around $581 and slipping 4.1% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Source: Cryptofees.info Brian Mosoff, chief executive officer of investment firm Ether Capital, says this fee data is a sign of the Ethereum network’s user demand.

Timeline of Ethereum, Ultracoin