The overall cryptocurrency market has struggled to maintain an uptrend since its revival from a multi-month bear market.
Following a recent bounce back, Ethereum, Bitcoin and Litecoin have drawn back to prices below key support levels.
Bitcoin, currently ranked #1 by market cap, is down 2.97% over the past 24 hours.
BTC has a market cap of $116.07B with a 24 hour volume of $4.68B.Chart by CryptoCompare.
Bitcoin is down 2.97% over the past 24 hours.
Bitcoin experienced a positive price increase in the recent weeks following news of institutional solutions entering the sector.
On June 26, the SEC received an application from CBOE Futures Exchange to launch the world's first Bitcoin ETF. If approved, accredited investors will be able to trade a Bitcoin ETF in the form of baskets of 5 SolidX shares on the CBOE exchange.
Ethereum, currently ranked #2 by market cap, is down 6.59% over the past 24 hours.
Ethereum endured a similar price drop below key support at $400, marking a major drawback to multi-month lows.
Since its peak in December 2017, the recent cryptocurrency bear market has taken retail investor and public attention away from the burgeoning blockchain industry.
Price Watch: Bitcoin, Ethereum and Litecoin Face Major Drawback
Udgivet den Aug 7, 2018
by Cryptoslate | Udgivet den Coinage
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