Last week marked a low point for the cryptocurrency markets: prices for Ethereum (ETH), Bitcoin (BTC), and nearly every other cryptocurrency dropped by double-digit percentages. This sudden and devastating drop in prices is just the latest in a series of massive market drops that have plagued the cryptocurrency community in 2017.
Cryptocurrency markets have recently plunged to their lowest levels in months. The price of Bitcoin – the world’s largest cryptocurrency by market value – has fallen by more than 85% since its record high last year. The price of Ethereum – the world’s second largest cryptocurrency – has fallen by more than 95% in recent months.
In a volatile week for cryptocurrency markets, bitcoin and ethereum are both bouncing back today after posting record falls last week. BTC is trading for $15,946 at the time of writing, up $1,400 from the start of the week, while ethereum jumped more than 10% to $1,168, according to CoinMarketCap. The market’s turnaround contrasts starkly with last week, which saw bitcoin and ethereum drop to yearly lows amid an ICO crackdown in China and rumors that South Korea would ban trading.. Read more about bitcoin dropping soon and let us know what you think.Market Overview: Bitcoin and Ethereum market recovers after record drop last week Earn up to 12% annual returns on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins, etc. Beginning of importance The crypto currency market is showing steady gains after last week’s big selloff, with many indicators turning bearish, but are we out of the woods yet? Last week, after the price closed below the 20MA (a popular indicator used by traders to measure price momentum), there was a huge sell-off that sent the price of bitcoin plummeting by almost 40% in one day, causing panic in the market. Many external factors also seem to have played a role in this decline, including the ban on cryptocurrency mining announced by the Chinese government. To read the rest of the article, log in or go to Edge.
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As an independent organization in the blockchain industry, we are guided by strict editorial policies that emphasize objectivity and transparency in our reporting.Despite a huge selloff last week, the price of Bitcoin and Ethereum has bounced back again this week. Bitcoin opened the week worth $10,500, but then plunged to $8,700. The price fell because of concerns about the new Bitcoin Cash hard fork and it being delisted from Coinbase. Then Ethereum, the second-largest cryptocurrency, fell to $643, after peaking at $1,400.. Read more about bitcoin rises and let us know what you think.
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