01 Sep 2018 Arjun Agarwal
Bitcoin Falls Below the $7K Mark
All the top cryptocurrencies fell into the red category except for 13 altcoins. Bitcoin is still below the $7,000 mark and at that time was trading for $6,942, down by 1.52%. The monthly losses for Bitcoin are estimated at reaching nearly 15%.
Ethereum (ETH) could not escape the same fate and lost a little over 3% of value. It was trading for $284. As a result, ETH shifted the past gains it made and reached a monthly loss of 39%.
Stellar (XLM)- another one of the top ten coins, suffered by 2.86% and was sold for 22 cents. Ripple (XRP) was trading for 33 cents and got down by 2.96%. Bitcoin Cash (BCH) reached a low point with a 3.17% loss and was trading for $538.77.
Litecoin (LTC) performed well, compared to the cryptos above and was down by only 2.41%. It was exchanged at almost $60.50. EOS (EOS), which reached a 12% growth the day before, moved backward by 3% and was trading for $6.05.
The price performance of IOTA (MIOTA) has been remarkable mainly thanks to its partnership with the Japanese conglomerate Fujitsu. The company will launch IOTA‘s proof-of-concept (POC) to complete audit trail processes. Even with that the crypto lost 4.68% and was trading for $0.71.
The total market capitalization of the uppermost cryptocurrencies was estimated to be around $225 billion which is $8 billion less than the day before.
With a fluctuated market price, government regulators are trying to reach transparency in the industry. Economic and financial affairs ministers from the EU will gather for a meeting in September to discuss the difficulties faced by digital assets.
The government of Poland has introduced a bill to explain the country‘s crypto taxation policy. Charlie Lee believes the current markets hold a possibility for massive adoption and Anthony Pompliano is sure the cryptocurrency virus is spreading.Bitcoin