Since it rose to predominant highs, the Bitcoin has suffered and suffered greatly. We have been hearing all kinds of news regarding the Bitcoin dropping in value and today is no different. Sources reveal that the Bitcoin has fallen below the $8000 mark, as it has fallen to a value of $7,846. The crypto currency has fallen about 4% in the last 24 hours. Moreover, the trading volume for the Bitcoin has also been between 5-6 billion in the last week, which is down from the volumes at which the crypto currency was trading at during the early days of the
Bitcoin is the most popular crypto currency in the world and the leading one too. It is a currency that has enabled investors to become millionaires within a short span of time as it has increased greatly in value over time. However, since it rose to new highs, the Bitcoin dropped to great new lows and it seems like it is continuously falling down in value.
Alongside Bitcoin, Ethereum is another crypto currency that rose to great highs and become a prominent name in the crypto world but has lost a lot of value off late. Ethereum lost nearly 10% in the last 24 hours, as it traded at $618 to the press time. With the dip, this becomes Ethereum’s monthly value change as negative, which means there is a reverse trend in the altcoin’s value, which rose to 100% gains during the start of the month.
Bitcoin and Ethereum are two of the most popular crypto currencies today but with these two, other crypto coins also fell down to new lows. Cardano, IOTA, EOS and TRON were other currencies that lost value in the last 24 hours and sources reveal that these currencies lost as much as 8-11%.
Bitcoin Cash rose to $1800 during early May but it has failed to sustain its higher values, as it fell by 9% in the last 24 hours. From an $1800 value, it started to trade at $1039 to press time. What is astonishing is that there is a dip despite the fact that there was an upgrade last week to increase the block size of BCH from 8 to 32MB. This shows that the market is continuing to be negative despite the fact that there have been provisions to facilitate mainstream investments in the world of crypto currency. Moreover, there are also amendments being made to make sure there is clarity for those who come in this sector. However, despite these efforts, major crypto currencies are continuing to suffer.
During the start of the week, the CFTC, US Commodity Futures Trading Commission, announced that it would tighten the guidance for the crypto currencies and crypto market. Therefore, futures on CME and Cboe were both red in the morning. The Cboe June contract was also low by 3.79%, as it settled at $7865, whereas the CME May contract was down by 4.10%, as they settled at $7845.
Crypto currencies are continuing to show signs of weakness despite the fact that they are getting good support from different measures. The crypto currencies were first trading at higher values during the start of the month, but since then, they have continued to suffer because of different pressures that have sent their values sinking. Amongst the currencies that suffered were Ethereum, Bitcoin, Bitcoin Cash and others. There are certain risks associated with the crypto currency world and markets that cannot be ignored and these pressures remain a serious threat to the crypto currencies.