In trading digital currencies, the recent losses on Tuesday continued. In addition to the Bitcoin (the current Bitcoin price can be found here ), there was also a sell-off in other known digital currencies such as Ether or Ripple.
In the early morning, Bitcoin’s share price on the Bitstamp trading platform fell below $ 6,000, reaching its lowest level since June at $ 5,880. The reason for the decline is the fact that the admission of exchange-traded bitcoin funds (ETFs) in the US is still waiting. Some investors fear that Bitcoin ETFs will not be approved contrary to initial announcements.
Within nine trading days, the Bitcoin has lost around $ 1,000 in value. If the significant $ 6,000 mark is revealed, another case threatens the year down at $ 5,769. Within the past 24 hours, the market capitalization of the cryptocurrency market has decreased by $ 24 billion. This corresponds to one billion per hour or a decrease of 12 percent in this period, it is said in a comment of the broker IG.
Following the record high that Bitcoin reached at around $ 20,000 at the end of 2017, prices plummeted in the first half of the year. The latest decline has been taking place since the end of July. Recently, a decision by the US Securities and Exchange Commission (SEC) had weighed on Bitcoin’s share price. As a result, a decision to authorize Bitcoin ETFs has been postponed to the end of September.
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Categories: Crypto Currency