RATE Group | Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: …
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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: …

20 Aug Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: …

Posted at 21:08h in Bitcoin News by

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

In 2018, every consecutive fall of the crypto markets was followed by a very weak recovery. This is in stark contrast to 2017, during which every fall was followed by a ‘V’ shaped recovery. The total market capitalization of all cryptocurrencies is hovering close to the $215 billion mark, after having dipped below $190 billion on August 14.

The next trigger is likely to be the U.S. Securities and Exchange Commission (SEC) decision regarding the Bitcoin exchange-traded funds (ETFs). If a new ETF proposal gets rejected again, we might witness another downward move.

On the other hand, if an ETF proposal is approved, the crypto markets might jump higher, signaling the formation of a bottom.

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