Friday, February 21, 2020

Crypto bears resurface, SEC delays BTC ETF judgment – Crypto In-Shorts

The Takeaway:

Are you tired of scouring the web for the latest crypto-updates? Enter the world of Crypto In-shorts on Chaintimes and find all you need!

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Crypto bulletin

Bitcoin pulled down by the crypto bears

Bitcoin escaped the descending triangle and faced a massive plunge of $1,500, touching the low $8,000. Peter Schiff, the CEO of Euro Pacific Capital, has predicted the price to fall to $4,000 or even lower. The down-slide of bitcoin has affected every crypto coin. Altcoins experienced a similar dip.

SEC continues to avoid BTC ETFs 

SEC once again delayed its decision on BTC ETFs. The commission has postponed the verdict on Wilshire Phoenix Bitcoin ETF which applied in January. The decision will now come out on18th October. Earlier this month, VanEck and SolidX withdrew their applications for ETFs assuming the decision will not be in their favor. No bitcoin ETFs have attained approval thus far. 

Price drop surfaces XRP value

XRP has witnessed a decline of almost 13%. Along with it, two hundred fifty million XRP worth $67,045,053 was transferred from one anonymous wallet to another. 

Bitcoin Price

Current Bitcoin Price – $8,406.15

Yesterday, Bitcoin opened at a price of $9,729.32. The fluctuations drove it to the lowest value of $8,370.80 and the highest value of $9,804.32 in 24 hours. Bitcoin closed at $8,620.57 and saw a decrease of 11.40% throughout the day. The crypto coin is still below its all-time high value of $20,089.00 by 51.19%.

Ethereum Price

Current Ethereum Price – $168.35

Yesterday, Ethereum opened at $201.84. The fluctuations drove it to the lowest value of $162.73 and the highest value of $203.50 in 24 hours. Ethereum closed at $168.11 and saw a decrease of 16.71% throughout the day.

The crypto coin is still below its all-time high value of $1,432.88 by 85.79%. 

Ripple Price

Current Ripple Price – $0.238274

Yesterday, Ripple opened at $0.268686. The fluctuations drove it to the lowest value of $0.227052 and the highest value of $0.272868 in 24 hours. Ripple closed at $0.235226 and saw a decrease of 12.45% throughout the day.

The crypto coin is still below its all-time high value of $3.84 by 92.89%

Litecoin Price

Current Litecoin Price – $55.11

Yesterday, Litecoin opened at $66.84. The fluctuations drove it to the lowest value of $55.82 and the highest value of $67.61 in 24 hours. Litecoin closed at $55.82 and saw a decrease of 16.49% throughout the day.

The crypto coin is still below its all-time high value of $375.29 by 81.98%.

Cardano Price

Current Cardano Price – $0.037331

Yesterday, Cardano opened at $0.046259. The fluctuations drove it to the lowest value of $0.036023 and the highest value of $0.046666 in 24 hours. Cardano closed at $0.037573 and saw a decrease of 18.78% throughout the day.

The crypto coin is still below its all-time high value of $1.33 by 96.49%.

 

Bitcoin Market Cap

The day ended with $151,068,639,720 for the Bitcoin Market Cap.

 Ethereum Market cap

The day ended with $18,163,034,137 for the Ethereum Market Cap.

 Ripple Market cap

The day ended with $10,264,862,905 for the Ripple Market Cap.

 Litecoin Market cap

The day ended with $3,490,335,170 for the Litecoin Market Cap.

Cardano Market cap

The day ended with $967,885,952 for the Cardano Market Cap.

 

Bitcoin Trading Volume

The 24-hour trading volume of Bitcoin – $28,896,377,969    

Ethereum Trading Volume

The 24-hour trading volume of Ethereum – $13,223,062,324    

Ripple Trading Volume

The 24-hour trading volume of Ripple – $2,319,521,602

Litecoin Trading Volume

The 24-hour trading volume of Litecoin – $4,196,710,718

Cardano Trading Volume

The 24-hour trading volume of Cardano – $155,188,086    

 

Whale alerts

Crypto enthusiasts beware of these whales

  1. 10,000 BTC ($86,898,184)transferred from an unknown wallet to another unknown wallet. Transaction ID: 7c10ada39ba353587b1599f60e4f5ced4316918e71ccb534402590aab7cd78fa
  2. 4,500 BTC ($39,092,988 USD) transferred from Okex to Binance. Transaction ID: ffb2c83731e408ec7773f9b9c2c3f53104508b8545a061dd4a3eb1e8bf37a93c
  3. 3,999 BTC ($34,671,984 USD) transferred from an unknown wallet to Okex. Transaction ID: 2fce9e14151bc7488722b11d557ba6d87d62ca33e45ec30fe5d0fdea4df792ab

Crypto controversy

Expectations in Bakkt led to disappointment.

 

What to expect today?

Bitcoin dropped to low $8,000, reaching to the red support zone. Will the bulls pull up the prices or bears claw deeper?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Thomas Gonzales
Thomas Gonzales
Thomas is a Stanford University graduate who loves to talk about the financial world. Though he has a demonstrated history of working in the real estate industry but ever since he came into the crypto space, he has developed a keen interest in researching and writing about bitcoin and blockchain.

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