Cryptocurrency Prices Continue Falling Before the End of June
Cryptocurrency prices have been slowly sinking over the past weeks, however, in the past few days, a drastic change manifested, where losses up to 20 percent have occurred.
Who is at fault?
Many consider that the markets have been impacted after Japan’s move to penalize crypto exchanges for lack of reliable trading environments.
However, it remains unclear if that was the only reason behind the disruptions.
In the past few days, Bitcoin Core (BTC) has dropped by 8.5%, Bitcoin Cash (BCH) by 12.5%, Ethereum (ETH) by 10.7%, while XRP by 7%.
The BTC prices stay around $6130 with a market dominance of 40.7%. The most-traded BTC happen to be on Bitflyer, Binance, and Bitfinex. The Japanese Yen accounts for over 50% of the trades for the past week followed by USD and USDT.
The BCH has continued tumbling accounting around $750 at the time of writing – 25th June 2018. The key exchanges where BCH is traded are Bitfinex, Okex, and Huobi. BCH is mostly traded against BTC which is followed by USDT, USD, and ETH. At the moment it has a market capitalization of 13.2Bn with an average 24-hour volume trade of 416Million.
The nature of cryptocurrencies remains volatile as ever. Many are calling it the bottom, while others are happy for the new long-term investment opportunities. However, nobody can tell for sure how long it might last and what kind of events it might trigger.