Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
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.
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Ethereum crossed $3000 recently and is aiming at $3500 already. Is it taking over Bitcoin's place?
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.