May 17, 2019 at 15:11
Massive Sell-Off Triggers Bitcoin Price Drop to $7,000 Level
The volatile nature of Bitcoin and other cryptocurrencies sees them fluctuate according to market conditions. In this very week, the world’s leading cryptoasset traded above $8,320, but to our surprise, the digital asset is now falling to hit the $7,000 level.
Bitcoin Fluctuates After Hitting $7,500 Price Level
The whole blockchain and crypto market has seen gains in the prices of digital assets, especially Bitcoin, the oldest and leading cryptocurrency by market capitalization. On May 12, Bitcoin (BTC/USD) traded above the $7500 price level, which is its record high price since August 3, 2019 (around nine months). Several crypto analysts anticipate BTC to skyrocket and hit $10,000 before this month ends.
Bitcoin Price Breaks $6,300 Level, is Crypto Winter Over?
For over half a year, Bitcoin has been trading low and the entire crypto market was in a depression, until surprisingly on May 9, the world’s leading cryptocurrency by market cap surged above the $6,000 price level. Experts in the digital currency industry are optimistic that the next bull run is possible and could even happen earlier than it was expected.
Ethereum Futures Might be Approved in the US
There is a good possibility Ethereum (ETH) futures contract will be approved if it complies with the set regulatory standards, according to an anonymous senior official at the United States Commodity Futures Commission (U.S CFTC) who refused to be identified for security reasons.