SEC Hires, Exchange Rumors, and Bitcoin Price Woes

SEC Hires, Exchange Rumors & Bitcoin Price Woes

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Price Watch:

  • Bitcoin is down 11% this week – The priced surged to $7,200 early on Sunday and increased to $7,300, then $7,400, even as other cryptocurrencies fell precipitously. The price then fell from $7,400 to $6,950 in less than 30 minutes on Wednesday marking a 2% price drop. The price then quickly dropped to $6,400 as the bulls panicked and has stabilized at $6,400.
  • Ethereum is down 31% this week, putting it at a 12-month low. Ethereum suffered some hard losses even as Bitcoin was rising early this week. The coin then dropped with Bitcoin and is now sitting just below the $200 support level. Many are still blaming these drops on ICO sell offs. Vitalik has said that the days of 100x growth are gone.
  • The entire coin market cap is down 17% this week following drops across the board. Most of the price drops occurred very early in the week as Ethereum, Ripple, Bitcoin Cash, Litecoin, and EOS fell between 1 and 4% as Bitcoin increased, but then declined much faster as Bitcoin turned south. Also occurring early in the week were WanChain, Digibyte, and Aion surging by as much as 30%. These surges helped keep losses to only $200 million, even as the coin market cap fell below the $200 billion mark.
    bitcoin price

    Source: CoinMarketCap

Governments:

Exchanges:

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Source: SEC Hires, Exchange Rumors, & Bitcoin Price Woes

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