Another low performing week for most of the top cryptocurrencies was capped off with the news that Ohio State is now accepting Bitcoin for tax payments. In this crypto market weekly update, we cover all the biggest stories in the industry within the last week.
Which Big News Did You Miss Last Week?
Norway Strikes Hard on Crypto Miners, Removes Power Subsidy: The cost of mining Bitcoin in the European country has spiked once again after government officials removed subsidy that was formerly made available to crypto miners. Read the full story here
The Hash War Has Ended: Who Won The Bitcoin Cash Hashwar?: The battle for supremacy on the Bitcoin Cash Network ended earlier this week with Bitcoin Cash ABC stealing the match over Bitcoin SV. Read the full story here
Bakkt Bitcoin Futures Has A New 2019 Date According To ICE: Crypto traders and institutional investors will have to wait a little longer for the Bitcoin Futures proposed by crypto startup Bakkt. The offering will now arrive sometime in January. Read the full story here
Crypto Regulation in India Will Happen Early 2019: A court affidavit issued by the Reserve Bank of India has stated that a draft rule for the regulation of virtual currencies will be unveiled early next year. Read the full story here
Anthony Pompliano: Bitcoin Slump Is Retail Investors Being Washed Out: The fall in the value of BTC is because retail investors are exiting the space while institutional investors are buying the crypto in the OTC markets. Read the full story here
Current Market Performance of The Top 5 Cryptos
Bitcoin – The top coin is down by 7.42% with a press time value of $3713 and trading volume of $6.47 billion in the last 24 hours.
Ripple XRP – The altcoin is overseeing almost the same losses as Bitcoin, 7.46%. The value of XRP is now $0.347 with a market cap of $14.03 billion.
Ether– The value of the coin had plummeted by over 40% shade in the last two weeks, even dropping to double digits on Nov 25. At press time, ETH is down by 8.58% with prices now at $105
Bitcoin Cash BCH – Following a tumultuous hardfork, BCH has become more volatile within the past week. After hitting over $250 earlier this week, the coin is also down by 2.83% on the day with a value of $176
EOS – The altcoin the gained its place as the fifth largest crypto by market cap within the last week, but have struggled to impress just like most cryptos. Press time value was $3.09 with more than 8% loss on the day.
What’s Trending In The Community
Jihan Wu: “BCH community needs to learn a hard lesson. Don’t play hatred.” : Reddit
As a 2013 Hodler, here are some observations of what’s going on: Reddit
The MOST COMPREHENSIVE LIST of potential Satoshi candidates: Bitcointalk
Top 3 Gainers
Top 3 Losers
What To Expect In This Week
We could see bitcoin slip further as there is still room for a decline, at least not until the buyer’s volume starts increasing. Experts have predicted that bitcoin could reach a bottom at around $2500, but the rock bottom could be between $3000 to $3200 before a bounce back comes into play.
Current market cap: $121 billion
BTC market cap: $64 billion
BTC dominance: 53.3%
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