The slide in cryptocurrencies accelerated, with Bitcoin piercing the $US5,000 ($6,850) mark for the first time since October 2017, amid speculation that increased regulatory scrutiny will prompt issuers of initial coin offerings to liquidate holdings. It seems the trend turned bearish for almost every cryptocurrency, except for USD Coin, QASH and Dai showing minor increase. At the time of this writing, XRP is nearly $4 billion ahead of Ethereum in terms of market cap.
Ethereum one-hour price chart | Source Trading View
Bitcoin prices once again plunged to fresh 2018 low during late European session Tuesday, as the crypto bloodshed continues amid a panic sell-off among investors. The September 2017 low @ $2,975 looks to be a realistic proposition at this point as fundamentals are continuing to fail to drive cryptos higher over the past year.
This is related to increasing enforcement by U.S. and European government authorities, as well as a new "fork" that further splinters the digital currency.
China Disagreement ‘Torpedoes’ Pacific Accord Summit, No Communiqué Issued
He said the United States is interested in a better relationship "but there has to be change" from China's side. Vice President Mike Pence said it shows how strongly the U.S. and its allies are committed to the region.
Thomas J. Lee, managing partner at Fundstrat Global Advisors and a long-time crypto bull, slashed his year-end price target for Bitcoin to $15,000 from $25,000. The second biggest cryptocurrency has been performing rather well over the past days, while the rest of the market took hit after hit. Bitcoin Cash (Bitcoin Cash ABC) is down by more than 40% in just a day and has been overtaken by Stellar (XLM) in the Market cap.
One market estimate made last month put the cost of mining one bitcoin at $7,000. Only Ripple and EOS provided anything approaching stability as their falls were held in single figures, although Ripple did rally a little to start showing signs of a minor recovery. Whether it is Bitcoin, or any of the current generation of coins, or not, cryptocurrencies are here to stay. When one cryptocurrency falls, others tend to fall as well.
Heavy rain could cause mudslides in California wildfire zones
The Woolsey Fire outside of Los Angeles in Southern California , meanwhile, is 82 percent contained and has consumed 98,362 acres. People in Finland are using social media to mock U.S.
Bitcoin has plummeted over 75 percent this year from a peak of $20,000 touched in December as retail investors piled into a one of the largest bubbles in history. "Over longer periods of times these events are less meaningful", said Mike Loewengart, chief investment officer at E-Trade Capital Management.
The recent hard fork of Bitcoin Cash network has severely affected the market, bring in instability in the market. As a result, Paragon Coin Inc. and Airfox will both have to pay $250000 as penalties to compensate its investors.
Trump hails Finnish forest management
Asked on Saturday whether he thought climate change had a role in the fires, he said "you have a lot of factors". One Finnish woman posted a photo pretending to vaccuum the forest floor.
The nerves surrounding Bitcoin have also spread to its peers, with numerous main cryptocurrencies experiencing a similarly dramatic double-digit fall. Now looking at the weekly chart, the next support is now placed at $4,600 level and then at $3,000 level.