The crypto markets are back on the rise with litecoin (LTC) leading the way in the top 10 cryptocurrencies at CoinMarketCap.
The price of bitcoin (BTC) jumped by more than $1,000 in the expanse of 30 minutes yesterday, with the rest of the market following suit, rising between 5-20 percent, while Litecoin (LTC) outperformed all other top 10 crypto by market capitalization.
LTC is up 13 percent over a 24-hour period and is currently changing hands just above the $100 resistance at $100.72.
Meanwhile, U.S. representative Patrick McHenry said that he believes Bitcoin (BTC) can not be killed in an interview with CNBC’s “Squawk Box” on July 17.
During the interview — when he was asked whether he believes politicians will allow cryptocurrencies to thrive — McHenry said:
“I think there’s no capacity to kill Bitcoin. Even the Chinese, with their firewall and their extreme intervention in their society could not kill Bitcoin.”
Bitcoin starting its parabolic advance in April which culminated in retaking the 5-figure mark in June for the first time since March 2018. At the time, BTC was on a slow-and-steady bull run that peaked just shy of $14,000 on June 26.
Since then, BTC has moved around a decent amount, dipping below $10,000 on July 2, retaking $13,000 on July 10, and slumping below $10,000 again on July 16.
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