BLOCKNEWS GEORGIA

By Nina Kikava - News - 1 week ago

Despite Volatility, Bitcoin Is Still At $4,000

According to the information from Coin360, cryptocurrency market is still very volatile and at the press time all the top cryptocurrencies are still in red, but despite this fact, Bitcoin did not dip down from $4,000 and is traded at $4,042 at the press time.

Yesterday, as the CoinMarketCap states, Bitcoin has been down for almost 4% but is still trading above $4,000. As we have already seen for the past weeks, largest cryptocurrency broke down several times and went below $4,000. In comparison to the breakdown, for the few days, it has been stable.

As we already know in early November, Ethereum made a way for Ripple and it has now the title of the second largest cryptocurrency on the market. Stability of Ripple made it crawl on the second place. Ripple has been down with almost 3% for the past few days and is trading at $0.36 at the press time.

For now, the third largest cryptocurrency Ethereum is also in red, but it has been stable for the past week, sometimes even trading at the $125 mark. For now, it is trading at $115.

After major breakdown 2 weeks ago, cryptocurrency market is “coming to its senses” and stabilizing. Even though compared to the weekend it has been down, it is still stable and is not making any major moves. Daily trading volumes are hovering around $14 billion at the press time.

It has been announced that there will be little changes of rules in Estonia regarding cryptocurrencies, in order to prevent money laundering and terrorist financing. The rules will be stricter. Despite the news, Bitcoin is steadily standing above $4,000.

Estonia is not the only country, which will tighten regulations regarding cryptos and ICOs. Japanese financial regulator FSA is planning to announce new kind of regulations in order to protect potential investors in the ICO area from the fraud.

Bitcoin has a big history with the month December, as we already have seen in the past years, the largest cryptocurrency has been going up mostly in December. It is predicted that maybe not this year, but in the first part of the year 2019 it will increase and be more stable than it was in the past months. As BNG reported earlier, Michael Novogratz, the CEO of Galaxy Digital, stated that in order for Bitcoin to hit the price of $8,800-9,000 by the end of the year, it needs to “take out $6,800”. He also believes that in 2019, Bitcoin could even hit the price of $20,000 or even more.