Bitcoin Market Wrap Up 5/10-5/17: BTC Plunges, Ripple Still Down, EAC Up
Since last week’s Market Wrap Up, Bitcoin has taken a dive in price, dipping 2.25% from a high of around $244 to $236.50 as of press time. Compared to the mid-week update over on BTC.com, the change is much more sudden as the plunge from $244 to $236 occurred in the later hours of May 13. There seems to be no bad “seed” of news that whales could be using to manipulate the price. However, Bitcoin does not take a nosedive without a reason; chatter on social media channels are hinting at “calm before the storm” scenarios, with this price dive serving as a last-minute opportunity to accumulate....
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Ripple’s XRP has lost almost 40% of its value after the token price dropped from $0.51 on December 21 to $0.31 at the time of writing. The token’s plunge appears to be the result of legal proceedings initiated against Ripple by the US Securities and Exchange Commission (SEC). At the time of writing, the fourth-ranked crypto token had seen traded volumes of $4.85 billion recorded in 24 hours. $1.3 Billion Lawsuit As data on markets.Bitcoin.com suggests, the sell-off of the XRP token appears to have been sparked by Ripple CEO Brad Garlinghouse’s warning that the SEC was....
Bitcoin’s huge sell-off by over $8,000 in the past 24 hours while options traders clearly are betting that ether is overvalued.
The SEC's suit against Ripple has triggered a steep sell-off in price for the payments token XRP. Meanwhile, prices for Chainlink's token have increased sevenfold this year, most among CoinDesk 20.
Ripple is down 5% and it broke the key $0.2300 support zone against the US Dollar. XRP price tested the next major support at $0.2200 and it is currently struggling to recover higher. Ripple remained in a bearish zone and broke the key $0.2300 support against the US dollar. The price is testing the $0.2200 […]
Here is Bitcoinist’s Bitcoin Market Wrap. It is been a relatively quiet week for Bitcoin, market-wise. Bitcoin has only fluctuated a couple percentage points every day, with usually a net difference of 1-3% daily. If we take a look at more traditional investments, 1-3% of the variation is a lot, but for Bitcoin in its current state, that is pretty stable. If we take a look at those same “traditional investments” they are down as well. For example, oil is under $2 per gallon in most states in the US, silver is under $17 an ounce, and gold is down $30 today, same with platinum.