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Bitcoin on a slight decline, altcoins on a rise

  • Bitcoin is facing a minor correction;
  • It is trading at around $7,900;
  • Most of the top20 cryptocurrencies in the daily green when compared to BTC.

Bitcoin is, after a few days of explosive growth, facing a minor correction. Most of the top 20 cryptocurrencies are, on the other hand, reporting moderate gains on the day. Bitcoin has declined over 1.5%, trading at around $7,900. Looking at its weekly chart, the BTC is up nearly 23%.

Ether (ETH) is holding onto its position as the second largest cryptocurrency and the largest altcoin by market cap. Ethereum has gained close to 12% in the previous 24 hours. The second-largest altcoin, XRP, on the other hand, lost some of its value in during the past day (0.8%). When taking the weekly chart, however, XRP has gained over 27%.