Hello friends,
Today I will talk about crypto market. On July 27 crypto market has taken sharp downturn with all the top 10 coins faces heavy loss. Bitcoin price again fall down below $8000.
This all started when a breaking news came that the Winklevoss Twins' application for Bitcoin exchange fund has been rejected second time by U.S. Securities and Exchange Commission
Bitcoin is now trading around $7915, withis 4% down on 1 day. After leading impressive hight of $8431 on July 25, the coin fall down over $400 with in 3 hours today.
Bitcoin is only little bit recovered from $7874. It's weekly and monthly price is continues to remain in green over 6 and 30 respectively. The top 10 coins are down between 3 to 7 percent on the day.
The cryptocurrency exchange Binance's token Binance coin (BNB) is ranked 17th with 6 percent solid upward on CoinMarketCap this is the highest price run during this week
There is $12 billion lost from the total market of cryptocurrency on the day. Besides yesterday peak at $303.7 billion, now total market cap is around $290 billion.
From top 100 cryptocurrencies only 7 coins are in green on the day.
According to Crypto entrepreneur Charlie Shrem who had argued on Twitter yesterday that the SEC’s second rejection of the Winklevoss Bitcoin ETF is like an old news. He saying that a pending decision over the Bitcoin ETF that has recently been field by VanEck & SolidX for trading on the Chicago Board Options Exchange will be more pivotal for the industry — and would likely generate more price-impactful “ETF excitement.”
It's a bad luck for cryptocurrency. I want to know what your opinion on this regard?
If I miss anything please let me know...
Thank you friends