Bitcoin Continues to Plummet
Main page Analytics, Bitcoin Cash, Bitcoin, SEC, Bitcoin-ETF, Cryptocurrency
Hot topic
Dec. 7, 2018

Bitcoin cost updated its annual minimum. On December 7, the average market price of the first cryptocurrency fell to the level of $3,380, the last time it was that low was on September 15, 2017. Now bitcoin is trading at $3,419. The total market capitalization dropped to $107 billion, although in January of this year this figure exceeded $830 billion.

At the same time bitcoin SV is trading in the green zone. The BSV coin, which appeared as a result of a hard fork on November 15, rose to the fifth line on the CoinMarketCap list. Today, the cryptocurrency is trading at around $109. However, bitcoin cash cryptocurrency continues to fall, its value dropping to a mark of $102.

Earlier, it was this coin that was considered the winner of the hash war, while many refused to admit BSV. Now this cryptocurrency is ahead of its rival, in terms of daily trading volume, capitalization, and present value.

Who Will Win the BCH Hash War?

Note that the price of Bitcoin updated its 2018 minimum on the background of the news about the US Securities and Exchange Commission (SEC) and bitcoin-ETF. Today, the regulator issued a notice stating that consideration of the decision on the application for the launch of bitcoin-ETF from VanEck and SolidX with the assistance of CBOE will last until February 27 of next year.

According to the rules of the department, the period for consideration of this decision cannot be extended yet. Thus, February 27 will be the final date for the decision on this application. In a statement, the SEC says that the commission finds it expedient to allocate a longer period for making a decision on the approval or disapproval of the proposed rule change.

SEC Postpones Decision on Bitcoin-ETF Again

Earlier, analyst Mike McGlone predicted the fall of Bitcoin to $1,500. He said that the Average Directional Index (ADX) was now the highest since June and amounted to 47. A bearish trend will significantly strengthen if this indicator turns out to be above the 50 mark.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error