Name Symbol Market Market Cap ($) Algorithm
Bitcoin BTCUSD Crypto 111,734,406,279 SHA-256d
  Price Change Price Change % Current Price Bid Price Offer
  110.01 +1.72% 6,501.01 6,501.00 6,501.01
High Price Low Price Open Price Prev. Close 52 Week Range
6,550.30 6,309.30 6,380.00 6,391.00 2,685.14 - 20,089.00
Exchange Last Trade Size Trade Price Currency
BFNX 23:00:10 0.002139 6,495.50 USD
Price x Volume Volume Base Symbol Related Pairs
185,201,475.51 28,869.57 BTC BTCEUR BTCGBP ETHBTC

Crypto Markets Fall Again, SEC Decision the Culprit

08/08/2018 6:08pm

ADVFN Crypto NewsWire


 

Bitcoin Global News (BGN)

August 08, 2018 -- ADVFN Crypto NewsWire -- Between yesterday and today, Bitcoin had been riding high compared to its recent lows, with a consistent price point around $7,000. As of about 6 AM EST, however, all of the top ten cryptocurrencies have been falling, with Bitcoin losing about $500 in what was roughly a six hour period.

The prevailing opinion of the press, including Cointelegraph, seems to be that the recent postponement of the SEC’s upcoming decision on whether or not to allow the listing and trading of a Bitcoin ETF is to blame for this new volatility. In attempting to back this up, Cointelegraph also cited the fact that the entire market has lost around $15 billion of its value in the last day.

Such an opinion is not a fallacy, but based on the history of the movements of the Crypto market, such events are not uncommon.

All in all, what this news primarily does is once again bring to light a phenomenon of sorts that has arguably been true for quite some time.

Until the Blockchain industry the proves wider utility or usefulness of the Blockchain and Cryptocurrencies through real partnerships that affect people’s lives for the better, the entire Blockchain market will continue to move based on speculative events.

 

What do we mean by this?

A speculative event can be anything for which the conclusion has not been determined and yet, even so, investors act like it already has been determined. Think about this in the same way as it plays out in the traditional finance industry.

Some stocks are truly speculative because they have not proven their usage over the long term.

Sometimes, the situation is even simpler than that and a stock can begin by being speculative for the first few years of its existence, until the company behind it is considered trustworthy.

As trust is a keyword in the Blockchain world, we’ll stick with that point for now. To decrease speculation and therefore decrease market volatility, we need to spread and increase public trust in Blockchain technology.

Going back to earlier points, this begins with real partnerships that actually affect peoples’ lives. What this, on the other hand, does not involve is more pilots.

In short, it all comes down to working products that a large group of consumers actually need and can actively experience, as soon as possible.

 

 

 

By: BGN Editorial Staff





 

 

News:

Cryptocurrency Market

Bitcoin (BTC)

1 Year Bitcoin Chart

1 Year Bitcoin Chart

1 Month Bitcoin Chart

1 Month Bitcoin Chart
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:31 V:gb D:20180819 22:00:11