Bitcoin and its peers have been heavily unscrewed for 24 hours, accelerating downward. The reluctance of the SEC, the US market authority, and the latest uncomfortable comments from some big names in finance, such as the boss of JP Morgan, had already sealed the 'courses' in recent days. This time, the fall has brought the BTC back to the $ 6,000 zone, with the queen of 'cryptos' dropping 6.4% over 24 hours according to Coinmarketcap, back to $ 6,067. Massacre General Over 7 days, the BTC yields 14%. It has won about 70% since its historic peaks of December 2017 ... The Ethereum collapses by 17% over 24 hours and 35% over a week. The XRP drops 14% on a day and 36% since last Monday. Bitcoin Cash makes 15% on one day and 29% on seven days. The Stellar yields 10% over 24 hours and as much as a week. The EOS drops 15% on a day and 38% over the past week. Litecoin, Cardano and Monero correct to finish from 26% to 30% over 7 days, increasing their losses for 24 hours. A capitalization that melts before the eye The market capitalization of Bitcoin falls to $ 104 billion according to Coinmarketcap, against $ 27 billion for Ethereum or $ 10 billion for the XRP. Bitcoin Cash weighs a little over $ 8 billion, the EOS about $ 4 billion and the Stellar barely more.
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The SEC delays The SEC, the US market authority, remains reluctant to approve an ETF on Bitcoin. It has thus recently postponed its decision concerning the approval of such a Bitcoin-indexed fund, which could obviously support prices and democratize digital currencies a little more. However, the Securities & Exchange Commission has decided to postpone its decision until 30 September. Dimon still breaks A few days ago, JP Morgan Chase's boss, Jamie Dimon, had already broken the mood by returning to the charge against 'cryptos' during an interview. Dimon confirmed last year's talk about Bitcoin. The boss considers that the BTC is only a "scam". Dimon says he does not give any interest to the queen of cryptocurrency. Bitcoin on the $ 6,000 Bitcoin fell back to $ 6,000 this week, for the first time since June. According to a local analyst, the next major technical support on the BTC is $ 5,800, and there will be more support then ... The Ethereum has relapsed for its part at a year low to $ 267. We must go back to the summer of 2017 to find such levels.
Ethereum leaded by ... ICOs? According to 'Bloomberg', the Ethereum is closely linked to the market of ICOs (initial coin offerings), these fundraisers in digital currencies. Startups raising funds in this way would not have cash management experience and would resell their digital currencies too early to finance their operations, which would put a lot of pressure on the market, according to Bloomberg specialist Biswa Das, which manages the BloomWater Capital alternative fund, which is very active on cryptocurrencies. According to this expert, this behavior of 'fundraisers' in digital currency, which was not a problem last year in a bull market of 'cryptos', weighs heavily in a market that has become much more fragile. Thus, the Ethereum, which remains the second digital currency, has lost two thirds of its value this year!