Bitcoin price news: Value surges this week with Ethereum, BTC Cash, Ripple

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Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture. REUTERS/Dado Ruvic

The cryptocurrency industry is showing promise this week after a slew of negative news the past months. Major players Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Monero have all performed well over the past seven days, showing a surge in value.

While the cryptocurrency prices continue to fluctuate, the turbulence seems to have died down with prices showing a more stable shift. Over the past 24 hours alone (as of 2:30 pm AEDT), currencies like Bitcoin Cash and Monero have posted impressive gains of more than 15%. According to Coin Market Cap, Ethereum has also posted an increase of 4.43% in value, while Ripple had 8.76%.

Bitcoin has also been showing promise as of late. From just $6,959.19 last Thursday, April 12, the value has jumped to $8,212.34 today, April 19, at 2:00pm AEDT — this is an 18% surge in the Bitcoin stock price. In the last 24 hours, the Bitcoin price has seen close to a 3% increase.

coindesk Bitcoin price chart Bitcoin price saw a surge of 18% in just one week.  Coindesk

As a matter of fact, 96% of the top 100 digital currencies have seen a bump in value over the week. Tether, who is 15th in Coin Market Cap’s list, lost only 0.05% with the rest seeing a rise of as high as 75%.

This promising outlook makes it the perfect time to invest on cryptocurrencies again, according to Pantera Capital CEO Dan Morehead. The hedge fund manager noted that the digital currency prices, especially that of the Bitcoin, would not go lower than it already has this year. Meaning $6,500 will be the bottom of the cryptocurrency price chart and it’s only going to rise from there.

With Bitcoin reaching a high of $19,000 in 2017, Morehead says its current decline is the best time to invest before its value surges again.

“It's 65 percent below its high, you don't get that opportunity very often,” Morehead told CNBC's "Fast Money."

In other Bitcoin news, the Tokyo police have arrested 12 people in a fraud case involving $1.7 million worth of Bitcoin. According to Japanese news site, TBS, the men had purchased the cryptos using counterfeit fiat money. The men are believed to be in their 20s and are denying the allegations.