The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Bitcoin goes down
On Monday, crypto assets stood still. Bitcoin maintained a four-day band of $6,450.
As a matter of fact, Bitcoin headed south by 0.70% on the Bitfinex exchange trading at $6,470.70.
In general, crypto assets managed to jump, with the coin market cap of total market capitalization accounting for $201 billion in contrast with $199 billion on Friday.
The number two alternative currency by market cap, Ethereum went down by 0.72% coming up with an outcome of $218.30. The number three digital coin by market cap, XRP slumped by 0.09% demonstrating an outcome of $0.27971. As for Litecoin, it reached $55.934, heading south by 1.58%.
Besides this, platform exchange Coinbase is on the verge of hiring up to 130 staff members by the end of 2019 in its New York office, bringing the overall staff to 150. The move turns out to be a part of the companies’ initiative to have institutional investors targeted, as general manager of Coinbase, Adam White uncovered.
Adam White told that when they saw the market start correcting that was rather an anticipated thing, banks didn’t lose interest. On the contrary, they considered it to be a chance to enter when it’s high time to do.
Besides this, a U.S. Pennsylvania district court had a case versus the defunct Mt. Gox digital currency exchange as well as Mizuho bank of Japan dismissed due to lack of jurisdiction. Apparently the court had a motion of Mizuho granted for the purpose of dismissing the case filed versus them by Gregory Pearce – one of 24,000 crypto users who was deprived of his money.
In 2014, the platform came to its end after the theft of about 70% of Bitcoin holdings. The crime was committed by hackers. The given cyber attack ended up in a loss of 850,000 Bitcoin and it appears to be one of the most impressive attacks for the last time.
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The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).