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A Year After $20K All-Time Highs, Bitcoin Price Sees a Small Rally Above $3.5K

In the absence of motivating factors, BTC/USD experienced what could be called a commemorative pump Tuesday.

Bitcoin (BTC) saw a sudden surge Dec. 18 to regain support at $3,500, sparking a fresh round of gains across major cryptocurrencies.

Market visualization

Market visualization from Coin360

Data from Cointelegraph’s price tracker and Coin360 confirmed the unexpected reversal in Bitcoin’s fortunes, the largest cryptocurrency having previously traded around 15-month lows.

At press time, BTC/USD hovered around $3,516, up 2.5 percent and capping gains of $260 in the past 24 hours. The same date in 2017 marked the second day of all-time highs for the pair, with prices topping $20,000 on some exchanges.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph

The cause of the spike remains something of a mystery, while some commentators were left red-faced, Bitcoin Cash (BCH) proponent Calvin Ayre telling United Kingdom mainstream media just before that he thought BTC/USD would drop to zero in 2019.

“It does not do anything, and they intentionally are anti-scaling,” he said.

Both strands of BCH — Bitcoin Cash ABC (currently known as BCH) and Ayre’s favored Bitcoin Cash Satoshi’s Vision (BSV) — had performed the worst out of all the assets in the top twenty by market cap in recent days.

As Cointelegraph reported, both have markedly reduced in price, while BCH’s price was overtaken by Ethereum (ETH) for the first time on Monday.

Bitcoin Cash 7-day price chart

Bitcoin Cash 7-day price chart. Source: Cointelegraph

Elsewhere in altcoin markets, it was EOS (EOS) which led the charge, managing impressive 18 percent daily growth to press time, followed by another surprise move from Dogecoin (DOGE) on 16 percent and Ripple (XRP) at 10 percent.

Eyes will continue to focus on the Bitcoin price, as its sway over altcoins will mean the current gains may be short-lived.

In his latest crypto market analysis over the weekend, veteran trader Tone Vays voiced concern that a close below the 50-month moving average would spell a downward spiral to $1,300 or lower.

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A Year After $20K All-Time Highs, Bitcoin Price Sees a Small Rally Above $3.5K

In the absence of motivating factors, BTC/USD experienced what could be called a commemorative pump Tuesday.

Bitcoin (BTC) saw a sudden surge Dec. 18 to regain support at $3,500, sparking a fresh round of gains across major cryptocurrencies.

Market visualization

Market visualization from Coin360

Data from Cointelegraph’s price tracker and Coin360 confirmed the unexpected reversal in Bitcoin’s fortunes, the largest cryptocurrency having previously traded around 15-month lows.

At press time, BTC/USD hovered around $3,516, up 2.5 percent and capping gains of $260 in the past 24 hours. The same date in 2017 marked the second day of all-time highs for the pair, with prices topping $20,000 on some exchanges.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph

The cause of the spike remains something of a mystery, while some commentators were left red-faced, Bitcoin Cash (BCH) proponent Calvin Ayre telling United Kingdom mainstream media just before that he thought BTC/USD would drop to zero in 2019.

“It does not do anything, and they intentionally are anti-scaling,” he said.

Both strands of BCH — Bitcoin Cash ABC (currently known as BCH) and Ayre’s favored Bitcoin Cash Satoshi’s Vision (BSV) — had performed the worst out of all the assets in the top twenty by market cap in recent days.

As Cointelegraph reported, both have markedly reduced in price, while BCH’s price was overtaken by Ethereum (ETH) for the first time on Monday.

Bitcoin Cash 7-day price chart

Bitcoin Cash 7-day price chart. Source: Cointelegraph

Elsewhere in altcoin markets, it was EOS (EOS) which led the charge, managing impressive 18 percent daily growth to press time, followed by another surprise move from Dogecoin (DOGE) on 16 percent and Ripple (XRP) at 10 percent.

Eyes will continue to focus on the Bitcoin price, as its sway over altcoins will mean the current gains may be short-lived.

In his latest crypto market analysis over the weekend, veteran trader Tone Vays voiced concern that a close below the 50-month moving average would spell a downward spiral to $1,300 or lower.

Posted on

A Year After $20K All-Time Highs, Bitcoin Price Sees a Small Rally Above $3.5K

In the absence of motivating factors, BTC/USD experienced what could be called a commemorative pump Tuesday.

Bitcoin (BTC) saw a sudden surge Dec. 18 to regain support at $3,500, sparking a fresh round of gains across major cryptocurrencies.

Market visualization

Market visualization from Coin360

Data from Cointelegraph’s price tracker and Coin360 confirmed the unexpected reversal in Bitcoin’s fortunes, the largest cryptocurrency having previously traded around 15-month lows.

At press time, BTC/USD hovered around $3,516, up 2.5 percent and capping gains of $260 in the past 24 hours. The same date in 2017 marked the second day of all-time highs for the pair, with prices topping $20,000 on some exchanges.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph

The cause of the spike remains something of a mystery, while some commentators were left red-faced, Bitcoin Cash (BCH) proponent Calvin Ayre telling United Kingdom mainstream media just before that he thought BTC/USD would drop to zero in 2019.

“It does not do anything, and they intentionally are anti-scaling,” he said.

Both strands of BCH — Bitcoin Cash ABC (currently known as BCH) and Ayre’s favored Bitcoin Cash Satoshi’s Vision (BSV) — had performed the worst out of all the assets in the top twenty by market cap in recent days.

As Cointelegraph reported, both have markedly reduced in price, while BCH’s price was overtaken by Ethereum (ETH) for the first time on Monday.

Bitcoin Cash 7-day price chart

Bitcoin Cash 7-day price chart. Source: Cointelegraph

Elsewhere in altcoin markets, it was EOS (EOS) which led the charge, managing impressive 18 percent daily growth to press time, followed by another surprise move from Dogecoin (DOGE) on 16 percent and Ripple (XRP) at 10 percent.

Eyes will continue to focus on the Bitcoin price, as its sway over altcoins will mean the current gains may be short-lived.

In his latest crypto market analysis over the weekend, veteran trader Tone Vays voiced concern that a close below the 50-month moving average would spell a downward spiral to $1,300 or lower.

Posted on

A Year After $20K All-Time Highs, Bitcoin Price Sees a Small Rally Above $3.5K

In the absence of motivating factors, BTC/USD experienced what could be called a commemorative pump Tuesday.

Bitcoin (BTC) saw a sudden surge Dec. 18 to regain support at $3,500, sparking a fresh round of gains across major cryptocurrencies.

Market visualization

Market visualization from Coin360

Data from Cointelegraph’s price tracker and Coin360 confirmed the unexpected reversal in Bitcoin’s fortunes, the largest cryptocurrency having previously traded around 15-month lows.

At press time, BTC/USD hovered around $3,516, up 2.5 percent and capping gains of $260 in the past 24 hours. The same date in 2017 marked the second day of all-time highs for the pair, with prices topping $20,000 on some exchanges.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph

The cause of the spike remains something of a mystery, while some commentators were left red-faced, Bitcoin Cash (BCH) proponent Calvin Ayre telling United Kingdom mainstream media just before that he thought BTC/USD would drop to zero in 2019.

“It does not do anything, and they intentionally are anti-scaling,” he said.

Both strands of BCH — Bitcoin Cash ABC (currently known as BCH) and Ayre’s favored Bitcoin Cash Satoshi’s Vision (BSV) — had performed the worst out of all the assets in the top twenty by market cap in recent days.

As Cointelegraph reported, both have markedly reduced in price, while BCH’s price was overtaken by Ethereum (ETH) for the first time on Monday.

Bitcoin Cash 7-day price chart

Bitcoin Cash 7-day price chart. Source: Cointelegraph

Elsewhere in altcoin markets, it was EOS (EOS) which led the charge, managing impressive 18 percent daily growth to press time, followed by another surprise move from Dogecoin (DOGE) on 16 percent and Ripple (XRP) at 10 percent.

Eyes will continue to focus on the Bitcoin price, as its sway over altcoins will mean the current gains may be short-lived.

In his latest crypto market analysis over the weekend, veteran trader Tone Vays voiced concern that a close below the 50-month moving average would spell a downward spiral to $1,300 or lower.

Posted on

A Year After $20K All-Time Highs, Bitcoin Price Sees a Small Rally Above $3.5K

In the absence of motivating factors, BTC/USD experienced what could be called a commemorative pump Tuesday.

Bitcoin (BTC) saw a sudden surge Dec. 18 to regain support at $3,500, sparking a fresh round of gains across major cryptocurrencies.

Market visualization

Market visualization from Coin360

Data from Cointelegraph’s price tracker and Coin360 confirmed the unexpected reversal in Bitcoin’s fortunes, the largest cryptocurrency having previously traded around 15-month lows.

At press time, BTC/USD hovered around $3,516, up 2.5 percent and capping gains of $260 in the past 24 hours. The same date in 2017 marked the second day of all-time highs for the pair, with prices topping $20,000 on some exchanges.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph

The cause of the spike remains something of a mystery, while some commentators were left red-faced, Bitcoin Cash (BCH) proponent Calvin Ayre telling United Kingdom mainstream media just before that he thought BTC/USD would drop to zero in 2019.

“It does not do anything, and they intentionally are anti-scaling,” he said.

Both strands of BCH — Bitcoin Cash ABC (currently known as BCH) and Ayre’s favored Bitcoin Cash Satoshi’s Vision (BSV) — had performed the worst out of all the assets in the top twenty by market cap in recent days.

As Cointelegraph reported, both have markedly reduced in price, while BCH’s price was overtaken by Ethereum (ETH) for the first time on Monday.

Bitcoin Cash 7-day price chart

Bitcoin Cash 7-day price chart. Source: Cointelegraph

Elsewhere in altcoin markets, it was EOS (EOS) which led the charge, managing impressive 18 percent daily growth to press time, followed by another surprise move from Dogecoin (DOGE) on 16 percent and Ripple (XRP) at 10 percent.

Eyes will continue to focus on the Bitcoin price, as its sway over altcoins will mean the current gains may be short-lived.

In his latest crypto market analysis over the weekend, veteran trader Tone Vays voiced concern that a close below the 50-month moving average would spell a downward spiral to $1,300 or lower.

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Top Cryptos See Mixed Gains & Losses, Bitcoin Fights to Stay Over $3,200

Top cryptocurrencies report moderate losses and Bitcoin briefly dips under the $3,200 mark in the past 24 hours.

Saturday, Dec. 15: the top 20 cryptocurrencies report a mix of moderate gains and losses, with Bitcoin (BTC) briefly dipping under $3,200 before climbing back above the price mark by press time.

coin360

Market visualization from Coin360

Bitcoin started the day around $3,228, but after a mid-day high of $3,275, it fell back to the current price of $3,232, after touching its lowest point of $3,191 earlier today.

At press time, Bitcoin is down a fraction of a percent over the last 24 hours. On the weekly chart, the prices in the past two days have been the lowest, down from a weekly high of $3,600.

btc

Bitcoin 7-day price chart. Source: CoinMarketCap

Ripple (XRP), the second largest crypto by market capitalization, lost 1 percent in the last 24 hours. It started the day at $0.286 and is currently trading around $0.284 after a mid-day high of $0.292. On the weekly chart, the current price is the lowest, seven days ago Ripple was worth about $0.32.

Ripple

Ripple 7-day price chart. Source: CoinMarketCap

Ethereum (ETH) remains the third cryptocurrency by market cap, losing just a under half a percent of its value in the last 24 hours. At press time, ETH is trading at $84.33, after having started the day around $84 and trading sideways during the day.

On the weekly chart, the current ETH prices today are the lowest. Seven days ago Ethereum was trading at $87, but then shortly peaked at $98.90 last Sunday, Dec. 9, before starting a decline towards the current price.

ETH

ETH 7-day chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, several coins are seeing more notable growth. EOS (EOS) is up a solid almost 6 percent, while IOTA (MIOTA) is up 4.29 percent on the day, and Dash (DASH) is up almost 5 percent.

The only top ten cryptocurrency reporting more than 2 percent losses is Bitcoin SV (BSV), having lost close to 5 percent in the last 24 hours.

As Cointelegraph reported Dec. 13, according to a study, while crypto prices have been decreasing, this year the number of verified crypto users nearly doubled. A Bloomberg analysis of the report says that the growth of crypto’s user base while markets are declining “could signal that an eventual recovery could be coming.”

Jeremy Allaire, the co-founder of cryptocurrency company Circle, recently told CNBC in an interview that in three years time, Bitcoin will be worth “a great deal more” than it is now.

Status, an Ethereum-based open source chat platform has recently laid off one-fourth of its staff due to the recent decline in cryptocurrency prices. In an announcement, the startup’s co-founder said that Status is “much larger than we can sustain.”

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Market Mayhem: Bitcoin Sinks Below $3.4K, Ethereum Plummets to Double Digits

Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses — some as high as over 20 percent.

Friday, Dec. 7 — Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses. Some coins are down by over 20 percent, as data from Coin360 shows.

Market visualization

Market visualization by Coin360

Bitcoin (BTC) has taken a steep hit of over 11 percent on its 24-hour chart, and is trading at $3,400 as of press time. Having attempted to reclaim ground above the $4,000 price point in early December — to briefly trade close to $4,300 — the top coin’s recovery has failed to hold, and the asset has seen stepped losses in the days before today’s dizzying tumble.

On the week, Bitcoin is now down by around 20.5 percent; monthly losses are at a severe 47.3 percent.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index.

Second-largest crypto by market cap Ripple (XRP) is down by around 12 percent on the day, trading at almost $0.30 as of press time, according to Cointelegraph’s Ripple Price Index. Ripple’s weekly and monthly charts are also blisteringly red, with losses of around 23.5 and 40 percent respectively.

Ripple 7-day price chart

Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index.

Third-ranked crypto by market cap Ethereum (ETH) has fared even worse, with 24-hour losses pushing 16 percent as of press time. The top altcoin is down to double-digit value, currently trading at $84. On the week, Ethereum down by 31.4 percent; monthly losses are close to 60 percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Virtually all of the remaining top ten coins on CoinMarketCap are seeing deep red; Stellar (XLM) and Bitcoin Cash (BCH) are both down almost 18 percent, at $0.11 and $102.3 respectively; eighth largest ranked crypto Litecoin (LTC) is down close to 15 percent, trading at $25.3, and EOS (EOS) is the hardest hit, down almost 23 percent on the day at $1.68.

Newly-forked “Bitcoin SV” (BSV) is the only exception among the top ten, soaring 20 percent on the day to trade at around $109, sealing the ranking of 5th largest crypto. With a market cap of around $1.94 billion as of press time, BSV is holding a slim margin ahead of BCH; the latter, ranked 7th, currently has a market cap of about $1.77 billion.

Just yesterday, news broke of a new lawsuit from tech development firm UnitedCorp against Bitmain, Bitcoin.com, Roger Ver, and the Kraken Bitcoin Exchange, which alleges the defendants engaged in manipulation and unfair practices during the immediate aftermath of the BCH-BSV hard fork.

The remaining coins in the top twenty by market cap are all seeing losses of between a 8 and 22 percent range.

IOTA (MIOTA) is down over 16 percent to trade at $0.22: Binance Coin (BNB) is down just under 20 percent at $4.56, and privacy-focused alts Monero (XMR) and ZCash (ZEC) are down 14.5 and 20 percent respectively.

Similar losses have hit Dash (DASH) and Neo (NEO): with the former down 21.7 percent at $61.33, the latter 17.4 percent at $5.85.

Dogecoin (DOGE), ranked 20th, is the “strongest” 24-hour performer, down 2.6 percent at $0.0021.

Total market capitalization of all cryptocurrencies is atca around $107.1 billion as of press time, down around 20 percent since the start of its weekly chart, when it was close to $136 billion.

7-day chart of the total market capitalization of all cryptocurrencies

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

With the markets unremittingly bleak, the United States Securities and Exchange Commission (SEC) has meanwhile yet again postponed its decision on the high-profile Bitcoin (BTC) exchange-traded fund (ETF) from investment firm VanEck and blockchain company SolidX.

A new deadline of the end of February 2019 has now been set; SEC commissioner Hester Peirce — who earned the moniker of “Crypto Mom” for her dissent over the SEC’s decision to reject a Bitcoin ETF proposed by the Winklevoss twins — told investors this week; “Don’t hold your breath” awaiting a BTC ETF approval.

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Dogecoin (DOGE) Defies the Red Bearish Market: Founder Blocks XRP Enthusiasts

The remarkable characteristic of Dogecoin’s token price to refuse obeying the general market movement [from the leader Bitcoin – BTC, to all following altcoins] is being highlighted strongly per time of writing.

For most of 2018, this trend of making surprising value jumps against the US Dollar and BTC has been present for the memefied coin. Whereas Bitcoin loses value and all top altcoins go down with, Dogecoin simply does its own thing at all times. Very stale coin.

Source: coinmarketcap

Breaking above the weekly declining trend that was concluding with a range bound for three days, has opened gates for the pair DOGE/USD to gain and retest the hurdle at $0.0024 as it is changing hands at $0.002370.

Dogecoin

Its increasing success throughout the crypto-ecosystem experienced a big hoist when back at the end of August the token transferring bridge between Ethereum and Dogecoin’s chain was announced. While performing as a bridge, it does enable transfers between the two chains easily. The elaborated coin here is in more benefit as its range of operations increases accordingly with the second in lead Ethereum’s flexibility with smart contracts.

Dogecoin Founder – Via his official twitter handle, Jackson Palmer posted his ‘simple automatic blocking XRP accounts script’ with which he started a so called XRP Away campaign.

The move came as a result of XRP enthusiasts counter-replying and storming him because of his negative comments made recently towards Ripple’s XRP. The latest script before being transformed into an open-source code, was used as a ETH scam bot blocking script. Elon Musk called Mr. Palmer for help to fight the spammers which targeted Musk for months.

Read the event: 

Dogecoin Creator And Elon Musk — The Ethereum (ETH) Scambot Fighting Duo?

The post Dogecoin (DOGE) Defies the Red Bearish Market: Founder Blocks XRP Enthusiasts appeared first on Ethereum World News.

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Scattered Gains Bring Respite after Midweek Crash, But Many Alts Continue to See Losses

Crypto markets have slightly stabilized today, although many major coins continue to shed value.

Friday, September 7: after the midweek bloodbath, crypto markets have slightly stabilized today, although many coins continue to shed value, as Coin360 data shows.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) is trading at around $6,430 at press time, down just under one percent on the day, according to Cointelegraph’s Bitcoin Price Index.

Despite a bullish start to September, Bitcoin’s price decline set in this Wednesday, September 5. Since then, the leading cryptocurrency has spiralled downwards from a high of $7,391 to over $1,000 less at its intraday low today at $6,354.

The coin is now a stark 16 percent down on its weekly chart. On the month, Bitcoin nonetheless remains up by around 7.3 percent.

Bitcoin’s 7-day price chart

Bitcoin’s 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index

Ethereum (ETH) has tumbled to around $216 at press time, losing just over 3 percent on the day. As with Bitcoin, Ethereum started September strong, briefly brushing the $300 price point September 1 before this week’s price plummet.

On its weekly chart, Ethereum is down just over 23 percent, with monthly losses around 46 percent.

Ethereum’s 7-day price chart

Ethereum’s 7-day price chart. Source: Cointelegraph’s Ethereum Price Index

Among the other top ten coins on CoinMarketCap, only three are in the green, though losses are capped below 3 percent. After Ethereum, Bitcoin Cash (BCH) is down the most, seeing 2.77 percent losses on the day to trade at just under $500.  

Stellar (XLM) is the only top ten crypto to see solid growth, up 4 percent on the day to trade at around $0.207. While it still remains shy of its intraweek high at almost $0.24, XLM-BTC has seen a solid bounce back to its trading levels before the mid-week market plunge set in September 5.

Stellar’s 7-day price chart

Stellar’s 7-day price chart from CoinMarketCap

Among the top twenty coins, all assets, except for two exceptions, are seeing mixed reds and greens in the 1 percent range, showing the coins are holding steady over the past 24 hours to press time.  

Dash (DASH), ranked 12th by market cap, has soared almost 6.46 percent on the day to trade around $185.56, although it is still trading almost 16 percent lower than its value ($220.50) during early trading hours September 5.

Dash’s 7-day price chart from CoinMarketCap

The other exception among top twenty coins is Dogecoin (DOGE), ranked 20th, which is up around 6 percent on the day, capping a week of extraordinary price volatility.

Dogecoin’s 7-day price chart from CoinMarketCap

Total market capitalization of all cryptocurrencies is around $203.5 billion at press time, down over $35 billion from its intraweek high of around $240 billion.

7-day chart of the total market capitalization of all cryptocurrencies

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

Even as the markets tumble, fresh data from management and technology consulting firm GreySpark has found that volumes on crypto marketplaces have burgeoned in 2018, with the U.S. dollar the most actively traded fiat against cryptocurrencies.

Responding to this week’s grim market movements, crypto Twitter has actively mulled the possible impact and price correlation surrounding reports that Goldman Sachs was rolling back their plans to open a crypto trading desk. The banking giant’s CFO refuted the rumors in a statement September 6, calling them “fake news” and affirming the company’s plans were on track.

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Dogecoin (DOGE) Game-Changing Stellar Performance: Ethereum’s ETH Impact on the Coin

It seems as all happened in a matter of seconds. Since Wednesday morning, traders have witnessed a major price plunge as BTC deep-dived to the lows of $6,450 from $7,377 in a day.

As explained in an EthereumWorldNews post, the last day and its speedy decline could make even us crypto-enthusiasts conclude that the market is too volatile to get a thumbs up by SEC. Believing that the crypto recovery will be supported by ETF acceptance from the commission could turn to a long waiting game.

However, impacting your opinion with the original idea on how Bitcoin and the whole blockchain concept initiated, we do not need ETF for the crypto-verse to be significant. When adoption hits the level of making tokens immune to bearish news that the ecosystem could be settled.

With that said and in the midst of this violent sell-off taking place, there is one beloved meme-d coin the community loves – Dogecoin.

Dogecoin DOGE

Surely it is known how altcoins follow the performance majorly of the one in lead Bitcoin BTC against the USD, however in the past week the pair DOGE/USD kept its head above waters with a unique movement pattern. The latest announcement of a Ethereum-Dogecoin network bridge for efficient transfer between the two might have caused the bullish sentiment over the coin. The elaborated coin here is in more benefit as its range of operations increases accordingly with the second in lead Ethereum’s flexibility with smart contracts.

Getting back to the market now, out of all the top-50 leading coins DOGE is the only that is not in the decline with a double digit percentage. Being in the red with only 4.00% for the last 24-hours, it is balancing bulls and bears at $0.0049 attempting to make it above $0.0050.

This independence from the market action showcased by Dogecoin could bring more investment to flow-in while accordingly hoisting the value even more. Additionally it requires a low level of money to put a good amount of the token in your digital wallet.

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