14 August 2018429

Crypto Market Update

Bitcoin fell below the $ 6,000 bar on Monday August 13-the first time since June 2018-against the backdrop of the overall negative dynamics in the crypto-currency market. Having reached the mark of 5900 US dollars, the world's largest crypto currency sank about 4%. To date, the price of crypto currency is close to its lowest point of the year. The lowest level of 2018 was reached on June 18, when he touched $ 5785.
Competing currencies Ethereum, XRP, Ripple, fell after Bitkoyn. The ether dropped by almost 6 percent and amounted to about 270 US dollars, while the XRP fell by 5.7 percent to 26 cents.
The latest breakthrough among digital currencies followed the rally last month, when Bitcoin climbed above $ 8,000. News about the growth of institutional interest led Bitcoin to the growth leaders for all assets. Such giants as BlackRock, New York Stock Exchange Intercontinental Exchange, Starbucks and Microsoft raised the mood in the market. This led to the overall market capitalization of all the crypto-currencies that formed by multiplying the prices of digital currencies by the total amount of coins in circulation in the last 24 hours - by $ 21 billion.
The fall of the market followed the delay in the adoption of the ETF, proposed by VanEck and Solid X. As predicted after the deferred decision until September 30 and the failure of the regulator was followed by a rough sale, which formed the bear fair on Monday.
Bitkoyn recently regained its dominance in the crypto currency market, as several altcoins have taken their positions. Nevertheless, to date, it still stands at about 70% of the record level of $ 19,783 recorded at the end of 2017.


 Eldiyar Muratov for RBC.RU