Bitcoin Does Not Move Anymore, But Some Altcoins Blaze

Cryptocurrencies show an apparent return to calm in recent weeks, which masks very uneven performance. While the queen of ‘cryptos’, Bitcoin and newly launched BCHAC, is virtually unchanged over a day or a week ($ 6.446 this day according to Coinmarketcap ), the Ethereum takes 2% on a day or 9% over a week. The capitalization of Bitcoin is $ 112 billion, compared with $ 22 billion for the Ethereum. The XRP of the Ripple firm is back, with a capitalization now housed at $ 21 billion, very close to the ETH. The XRP took 20% in seven days, of which 13% over the last 24 hours. The Bitcoin Cash is the real star of the last days, with a jump of 45% over a week and a gain of 6% on a day.

Other altcoins show double-digit gains ranging from 10% to 14% over the last seven days. EOS, Stellar, Litecoin and Cardano are some of these digital currencies that have benefited from a slight jolt since the beginning of the month.

Among recent events likely to affect the variations of ‘cryptos’, the Chinese Central Bank intends to strengthen its supervision of the market, and in particular digital currency fundraising (BCHAC) and blockchain-related financings. -fixes digital currencies.

The PBOC , the People’s Bank of China, is looking into the case of ‘airdrops’, which is a donation of chips to certain users who, according to it, are like ICOs. Indeed, offers related to ICO are prohibited in China, and the digital assets not issued by the government obviously have no legal status equivalent to that of a fiat money, says the Bank. The PBOC does not prevent the ownership of Bitcoin or private transactions, but it intends to work towards better coordination of international regulators on the subject.

The increased regulation of digital currencies was previously thrilling operators. It does not really seem to be the case anymore. Moreover, such initiatives can also be viewed in a positive way, since they will have the merit, in the longer term, of cleaning up the market.

Bitcoin and cryptocurrencies do not escape the purge

Crypto-currencies have fallen for 24 hours, the XRP sagging for example by 13% over a day and now accumulating losses of 24% over a week. The Bitcoin loses 4% over 24 hours and returns to $ 6282 depending Coinmarketcap. The Ethereum regresses 11% on a day to $ 200. The Bitcoin Cash plunges 12%, 9% of the EOS and Stellar 11%, while the litecoin corrects 10%. Cardano and Monero finally yield 11% and 8%, respectively, over 24 hours.

The BTC remains by far the first of the digital currencies with a capitalization of 109 billion dollars. The second place goes to the Ethereum, whose ‘capital’ amounts to 21 billion, against 16.3 billion for the XRP.

The ‘cryptos’ do not escape the purge of the financial markets. The Google effect had yet supported digital currencies at the end of September, the Web giant having conditionally reinstated advertising for ‘cryptos’. After banning advertising for ‘cryptos’ in March, Google ( Alphabet ) decided to relax this month’s ban . The US technology giant will allow regulated cryptocurrency exchange platforms to buy advertising space in Japan and the United States.

Google’s announcement only mentioned financial products, implying that advertising relating to cryptocurrency (bitcoin abc wallet) fundraising would still be prohibited.

The crypto star of recent weeks, the Ripple XRP, had benefited from intense speculation around the Ripple Swell event, which was held October 1 and 2 in San Francisco. This meeting brought together world leaders in politics, payments and technology. As often, a pronounced decline followed the speculation phase.