Cryptocurrency Market Experiences Significant Changes Amid Downtrend, Is This The End Of Crypto?

cryptocurrency

In cryptocurrency news today, the cryptocurrency market is experiencing moderate changes, mixing red and green, as Bitcoin is steadfast at the $9,600 mark as at the time of writing. After experiencing a sharp decline yesterday, and a further correction to $9,250 the number crypto seems to have recovered, going up 0.5% – stabilized at the $9,590 mark. The coin’s monthly and weekly losses are 20% and 7% respectively. Cointelegraph published an analysis yesterday as regards to Bitcoin’s sharp decline in prices since it attained a year-high of $13,739.

Cryptocurrency News Today – An Overview of the Remaining Top Ten Coins in the Crypto Market – Cryptocurrency Price Analysis

In the analysis, coin experts are still upbeat about the Bullish outlook of the coin in the medium-term. Experts considered the coin’s current mining trend, technological advancements, and the halving of Bitcoin that will occur in 2020 while giving their analysis on the medium-term future of the coin (Source: Coin360).

In other cryptocurrency news, Ethereum coin has gone up by 1.3% and is currently trading at around $212 as at the time of writing this article. During the trading hours of last weekend, Bitcoin declined and was trading at a low of $201, experiencing a 2.6% loss on its 7-day chart. Ethereum is down by 35% on its monthly chart. (Source: Coin360). Ripple (XRP) is experiencing an insignificant price fluctuation on the day. On its 7-day chart, the coin is showing a loss of more than 3% while it is showing a 27% loss on its 30-day chart.

Bitcoin (BTC) Price Today – BTC / USD [ccpw id=”8759″]

EOS, Bitcoin SV (BSV), Stellar Lumens (XLM) and Binance Coin (BNB) are all in the red. BSV is experiencing the biggest loss among these coins, with a loss of 1.7%. Going down to the top twenty coins in the crypto market, only slight fluctuations are being observed, capping below just 2%. DASH coin has experienced the most losses – going down by 3.6% on the day. It is followed by Chainlink (LINK) coin, which has gone down by 1.9% on the day. Tezos (XTZ) is the coin currently with the most gains with a 1.8% gain in the past twenty-four hours. It is closely followed by Unus Sed Leo (LEO) with gains at 1.5%. The total market cap for all cryptocurrencies is currently around $260.4 billion, according to Coin360 data.

Cryptocurrency latest update – Ripple Pens an Open Letter to The United States Government – Iranian Government takes the First Step Towards Regulating Crypto – Cryptocurrency News Today

Ripple, earlier today, wrote an open letter to the Economic regulators of the United States, stating that the country should adopt a method “that does not disadvantage U.S. companies and classify cryptocurrencies” in a way that respects their basic differences — “not painting them with a broad brush”.

In other cryptocurrency news, the Government of Iran seems to be nodding to the move by the country’s Economic Commission to authorize the mining of cryptocurrency as an industrial function. Some analysts have suggested this to be the first step towards the legalization of cryptocurrencies.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.