Bitcoin (BTC) remains pleasantly above the threshold of $ 7,600 and moves slowly to a new price of $ 7,700, trading at around $ 7,690 as of the close of this edition. The leading cryptocurrency, up almost 2.3 percent in a 24-hour period, registered a weekly intra-weekly minimum just above $ 7,400 but has since reduced its losses.
The official clarification yesterday of the president of the Securities and Exchange Commission of the United States ( SEC ) that Bitcoin is not categorically considered as a value under US legislation. UU may have contributed in some way to increase market confidentiality.
A big part of the 10 major currencies remains in green.
The regulatory status of Bitcoin is clearly clearer than the main alternative currencies Ethereum (ETH) and Ripple (XRP), whose representatives have emphatically rejected value classifications, although their regulatory status in the eyes of the SEC remains unclear. The main alternative currency Ethereum (ETH) has seen slightly lower gains of just over 1.3 percent on the day, trading around $ 606 at the close of this edition.
Having recovered from its $ 571 minimum earlier this week, the currency has for now recovered its land above the psychological price point of $ 600. Most of the ten major currencies by market capitalization show minor fluctuations within a range of 2-3 percent over a 24-hour period, as shown by the CoinMarketCap data.
Of the ten main currencies, only Cardano (ADA) is in the red, less than 1 percent, trading at approximately $ 0.21 at the close of this edition. The EOS alternative currency is seeing the highest growth of the ten major currencies in the last 24 hours, more than 4.5 percent higher in the day, trading at $ 14.20 per currency at the close of the edition.
Currently, EOS is ranked fifth in CoinMarketCap, with a market capitalization of more than $ 12.7 billion. Yesterday, the market analysis firm Trefis announced that it reduced its price forecast at the end of the Bitcoin year from $ 15,000 to $ 12,500, according to its analysis of the fundamentals of supply and demand in the BTC markets.
Trefis pointed to significant recent losses in the total volume of BTC transactions through crypto bags, and attributed a surplus in supply and the subsequent drop in price after Mt. Gox unloaded BTC in bags earlier this spring. Although markets are still slow, institutional actors are making significant progress with their incursion into the cryptosphere.
Yesterday, one of the largest financial firms in the world, Susquehanna International Group, revealed that it would open cryptocurrencies for its clients, initially in the form of Bitcoin futures.
Top 10 CryptoCurrency Price Analysis Today
Market Value Rises
The week has also seen news of significant advances among the main players in the crypto industry to put their operations under the control of financial regulators. Yesterday, the peer-to-peer payment platform Circle Internet Financial Ltd., revealed that it pursues a federal banking license and registration as a brokerage and trading venue with the SEC.
The news came shortly after the main currency exchange center in the United States, Coinbase, began its own process to become a broker-dealer regulated by the SEC, through the acquisition of three financial firms. The general market capitalization of all cryptocurrencies is $ 346 billion at the close of this edition, an increase of around $ 10 billion in the week.