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Highlights:
- Bitcoin Cash Fork The chaos that brought down the markets,
- XRP is now ahead of Ethereum in second place by market capitalization,
- An opposing view of regulators, according to the IMF, that governments should create clean cryptocurrencies, while the European Commercial Bank calls Cryptos "infamous swamp",
- Finally, a product traded on Crypto Exchange will be posted on the Swiss Stock Exchange next week.
- OKCoin launches in Latin America
Among the main news this week, Bitcoin Cash, the project that left the chain of Bitcoin chains in August 2017, was divided into two different parts: "Bitcoin Cash ABC" (BCH ABC) and "Bitcoin Cash SV" ( BCH SV). In the aftermath of the spur, the ABC chain of Bitcoin Cash accumulated more evidence of work and its currency, BCH ABC, traded upward on the markets (futures). Most ABC supporters of Bitcoin Cash felt victorious – although many supporters of Bitcoin Cash SV have not yet conceded their defeat. Although, just before the pitchfork, cryptos finally lost their stability, and then dive 10%. Almost all major currencies took revenge, but recovered slightly after the range.
This BCH range has brought torrential rains to the crypto market and falling prices in recent months. Ethereum lost its second place to XRP. Ethereum's value fell 38.6% in the last three months, bringing its market capitalization to $ 18.1 billion. The value of XRP increased by 61.1% over the same period, bringing its market capitalization to $ 20.5 billion.
Among regulators, said Christine Lagarde, president of the IMF, governments should consider offering their own cryptocurrencies to prevent the systems from becoming havens for fraudsters and money launderers. According to the Guardian report, Lagarde said central banks need to work quickly to create digital liquidity for burgeoning networks of private financial transactions or risk their proliferation in inherently unstable trading networks.
Benoît Coeure, a member of the board of the European Central Bank (ECB), said crypto-currencies such as Bitcoin were the scourge of the 2008 financial crisis, reported Bloomberg. He added that it was an extremely smart idea, but that a not very smart idea is a good idea. Speaking to the Bank for International Settlements in Basel, Coeure supported the idea of the head of the Bank for International Settlements (BIS), Agustin Carstens, according to which Bitcoin is a "combination of bubble, system of Ponzi and Environmental Disaster "and said:" Few people remember that Satoshi has integrated the genesis block with a January 2009 Times title on the bailout of UK banks.In all respects, Bitcoin is the perverse product of the financial crisis. "
Finally, an exchange-traded product to track an index of five major cryptocurrencies is expected to begin trading on the Swiss Stock Exchange six next week. The product will be available for retail and institutional investors. The Financial Times announced on Friday that the Swiss Stock Exchange Six had given the go-ahead to a Cryptocurrency-based Exchange Traded Product (FTE). The newspaper said: "The ETP Amun Crypto, which will start next week on the Six Exchange in Zurich, was designed to follow an index based on the movements of five major cryptocurrencies"
Among the international extensions, US-based OKCoin recently announced the launch of its licensed Latin American trading platform, offering fiat-to-crypto trading between the Argentinian peso and several of the world's leading crypto- currencies. The exchange offers crypto-currencies such as Bitcoin, Bitcoin Cash, Ethereum, Classic Ethereum, Litecoin, Ripple, Cardano, Stellar, Zcash and 0x. The exchange plans to open an office in Buenos Aires and build a team to support its activities throughout Latin America.
Bitcoin (BTC):
Bitcoin finally broke its stability when the melting of the front fork to BCH reduced the coin by 10%, breaking support for 600 USD. Prices reached the high point of USD 6,434.21 and the lowest point of USD 5,358.38 during the week. The most active exchanges, in volume, with BTC on several pairs this week were BitMex (15.24%), CoinBene (3.85%) and Binance (2.48).
Among the prominent voices, famed cryptocomputer analyst Tom Lee, who once targeted Bitcoin to reach $ 25,000 by the end of 2018, is reducing his forecast to $ 15,000.
Ethereum (ETH)
Aether prices were hit hard and lost their long-standing second place to XRP. Ethereum at the top, this week was at 212.62 USD and a minimum of 170.19 USD, crossing the bar of 200 USD per distance. The most active markets, in volume, with the ETH on different couples this week were OEX (4.90%), BitForex (3.83%) and LBank (3.80%).
Among the news about Ethereum, Mike McDonald, creator of MKR Tools, has revealed that 1,000,000 of ETH, or about 1% of the total Ether supply, are stuck in a smart MakerDAO deal.
Ripple (XRP)
XRP goes to second place while Ethereum gets beaten. Above, this week, XRP prices were 0.525536 USD and, down, 0.430398 USD. The most active exchanges, by volume, with XRP on different couples this week were Bitbank (14.20%), Binance (8.08%) and UpBit (5.72).
For XRP this week, Binance's CEO, CZ, says how XRP can become a core currency on the platform.
Other movers
The other pieces that reached the top and bottom this week according to Coin Market Cap (accessed Nov. 18 at 1:30 pm PT) were
The movers
– Nasdacoin – up 222.89%
– On.Live – up 71.43%
– Fox Trading – up 68.88%
Shakers
– Olive – down 84.64%
– Provoco Token – down 70.71%
– InvestFeed – down 59.04%
What do you think of cryptographic market sentiment next week? Let us know your point of view on the same thing.
summary
Article name
Analysis of the price of cryptocurrency for the week of November 12 to 18
The description
Bitcoin Cash Fork The chaos that drove the markets down, XRP ahead of Ethereum in second place by market capitalization, opposite view of regulators as the IMF says governments should create cryptocurrencies while the European Commercial Bank calls Cryptos a hellish swamp, finally A product traded on Crypto Exchange will be posted on the Swiss Stock Exchange next week and OKCoin will be launched in Latin America
Author
Nilesh Maurya
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CoinGape
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