The close of trade on Monday saw the top digital asset by market cap, Bitcoin (BTC), falling once again. It would appear that the turbulent period in the crypto space was a thing of the past following the resurgence of the prices of the top asset. Now, after a good week, it looks like the positive G-20 meeting shifted investor risk appetite from cryptocurrency. This new price movement has eroded the good week the digital token recorded.
How Bitcoin (BTC) Fell Again
Trade movements from Monday saw the price of BTC drop by 7.22% to trade at & 3,887 which confirmed the end of a five-day resurgence for the cryptocurrency. We can recall that on November 26, Bitcoin (BTC) traded at $3,807 before rising to $4,000 on November 3 (with a peak price position of $4,408).
Investors chose to sell off Bitcoin (BTC) on Monday morning (following a positive G-20 meeting between President Xi Jinping of China and President Trump of the United States). This move resulted in global equities going higher. As of press time, the optimism in the space remains unclear. Whatever is chasing investors away from Bitcoin (BTC) remains to be seen.
Bitcoin (BTC) Price Today – BTC / USD
The Fall Also Affected Other Top Assets
The market situation from Monday didn’t affect BTC alone as a host of others were affected. This time Ethereum (ETH) also recorded losses on the day. The asset traded down to lose more than 10% on Monday. The selling from Monday isn’t new to Bitcoin (BTC) and other top assets particularly since the turn of what has been a turbulent year for cryptos. This fall makes the most recent seven days a highly volatile period. Bitcoin is down by 73% this year which is alarming. The potential regulation of the digital token is weighing on sentiment.
Additionally, splits of coins like Bitcoin Cash (BCH) is putting supply pressure on Bitcoin (BTC). It is now becoming a possibility that we will see fewer Initial Coin Offerings in coming months because of intensified regulation.
Nasdaq Finally Confirms Bitcoin Futures Listing By Q1 2019
News that Nasdaq has been positioning to list Bitcoin Futures isn’t new. However, it has all been rumors until the confirmation today. According to the Daily Express the New York-based exchange, NASDAQ will list bitcoin futures by Q1 of 2019. The reports indicate that Nasdaq’s Vice President, Joseph Christinat along with his media team confirmed the news.
Furthermore, Christinat revealed that Nasdaq was waiting for green light from the CFTC (Commodity Futures Trading Commission), which suggested that it was signed and sealed already. He went on to stress that current market volatility has no bearing on the decision to press on with the listing of Bitcoin Futures. Market analysts around the globe welcomed the move by Nasdaq. David Cheetham of XTB called it a “game changer”. According to him:
“It appears Nasdaq has been working on the listing for some time, meaning this is not a knee-jerk reaction, it is a serious plan.”
While Chris Beauchamp, who serves as the Chief Market Analyst at IG Group believes brokers and traders would greet welcome the development adding:
“It is going to bring more visibility along with transparency to an unregulated market.”