Most of the cryptocurrencies in the market were still extending their prior bearish streak with prices hitting the reds with no signs of stopping. The Bitcoin managed to hit way below the $10,000 mark, while the Ethereum also dipped to abysmal level before easing to the $1,000 price mark.
The recent conundrum in South Korea continues to purge the crypto market, leaving a lot of investors and analysts are wondering how the market will perform in the future. Furthermore, the prices are still expected to drop as China also mentioned their interest in shutting down the use of digital currency in the country, following South Korea’s possible decision.
As digital currency plunges, the company’s which are either tagged directly or indirectly through the blockchain and Bitcoin are also dipping into the market. The fear of local regulators and their decision for a massive lockdown continues to instill fear and uncertainties.
Looking at the Bitcoin Price Index, the midday trading performance that it exudes managed to cripple and shock a lot of investors as the price managed to dip to the $9,000 mark. The BPI managed to hit as low as $$9,714.02 on previous trading sessions; this is the first time that the prices managed to hit those lower levels ever since the surge they had last December.
Following the biggest crypto in the market,
The second biggest digital currency in the market also rides the bearish trend that the whole market is on; with its price dipping below the $1,000 market just before it eases and hovers around the $1,000 mark again. The crypto’s prices are still recovering from panic selling and massive selloff pile up due to its popular positive performance last week and earlier this week.
Analysts are indicating that even with the regulations problems, the crypto market is also suffering from the slower paced advancement brick and mortar companies have in terms of accepting the digital currencies as viable payments.
Bitcoin and Blockchain Stocks Dip
Companies who have integrated the blockchain technology on their company such as the following; Riot Blockchain which was also known as a biotech company called
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