Bitcoin drops below $6, 600, top altcoins also see a drop

Bitcoin (BTC) lost nearly 0,5% of its market value, floating around the $6500 mark. After a weekly high of $6,783 and a low of below $6,500, Bitcoin managed to balance around the $6,580 mark. Although the half-percent drop isn’t something serious, Bitcoin lost almost 10 percent last month.

 Ethereum (ETH) is losing even more, dropping one percent to around $229. The coin fell as low as $206 on September 26th but managed to make up for the loss with a steady increase to a high of $237 on September 30th. Despite the price gains of 0,89% from last week, Ethereum (ETH) still scores over 22 percent drop from the monthly high of over $300. Looking at its market cap, Ethereum is just ahead of its rival – Ripple (XRP), capitalizing at $23,4 billion, while Ripple is only $2 billion behind.

Ripple (XRP) is last week’s biggest loser, dropping over 4 percent over a day to around $0,55. The 65% growth over the past month and 14% last week, however, shoot Ripple up as the biggest gainer of September. The high trading volumes and market cap are an indicator of a steady increase in Ripple’s price over the next few months.

The rest of the top 10 cryptocurrencies, indicated by CoinMarketCap by their market capitalization, are moving slightly up and down, all within the one percent range. Stellar (XLM) went up half a percent, mainly because of the news about StellarX – a crypto exchange, based on Stellar’s decentralized platform, being launched live on September 28th. Other cryptos in the top 10 list mark a slight drop in prices.

Extending the scope, all top 20 cryptocurrencies are making slight drops, the only gainer being NEM (XEM) with a 6% growth over a day. NEM also got near the $0.10 average, trading at around $0.11 with a monthly high of $0.127 and a dip to $0.08.

On the flipside, Tezos (XTZ) dropped 5,45 percent to $1,35 with a decline, forming after the high of $1,75 on September 15th.

Malta’s prime minister Joseph Muscat stated that cryptocurrencies are “the unavoidable future of payment methods” and gave his “thumbs-up” that Blockchain will reengineer political, corporate and civil systems.

Despite anti-crypto regulations, China’s Beijing Sci-Tech Report announced that subscriptions to their media platform could also be done with Bitcoin. This, however, does not count as breaking the crypto laws in China, because ownership and investment in cryptocurrencies are not considered a crime in China.