Bitcoin’s gains are short lived, and the world’s number one cryptocurrency is now trading where it was during late September when Bakkt initially failed to make a solid impression on crypto traders.
Bitcoin and Its Comrades Are Suffering
As it would seems, positive blockchain comments from Chinese president Xi Jinping and Bakkt ultimately picking up and attracting several bitcoin futures contracts trades weren’t enough to keep bitcoin where it was. The $9,000 proved difficult for the currency to maintain, and resistance levels appear are inherently winning.
But it’s not just bitcoin that suffers. Ethereum, the second-largest cryptocurrency, is down to $175 at press time. Just yesterday the currency was trading for $180, and Ethereum seems to be experiencing more losses than even BTC, but bitcoin cash – the little “brother” of everyone’s favorite digital coin – has incurred some of the highest losses to date. At the time of writing, it is trading for just over $236 when bitcoin cash, just weeks ago, was trading for $300 even. Read More...