Bitcoin loses $ 1 billion per hour!

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.

 

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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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