CryptoBank.Ltd - Bitcoin Price Drops, IPO’s and an NYSE Bitcoin Market: This Week in Crypto

" The bitcoin price is down 15% this week following strong gains of 9% last week and 18% the week before that. The coin had been hovering around the $8,000 mark since it first hit the crucial price level on August 24th. The $1,200+ price drop has largely been blamed on the SEC’s rejection of the Winklevoss’ second ETF rejection. On its way down, the price flirted with the $7,800 support level before failing to maintain that level. The bearish pattern has continued all the way down to the $7,000 level.

Ethereum is down 14% this week hovering around the $400 level. The coin has been moving in tandem with bitcoin as far as down moves go recently, but not mirroring up moves. As we discussed on last week’s podcast episode, ethereum is representative of lots of altcoins that have mostly taken heavy losses." - CCN - Read Full Article

Source: CCN

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