Bitcoin Reaches New Historic High, Ripple Still in Trouble
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Answer Bitcoin Reaches New Historic High, Ripple Still in Trouble
The past days have been unnaturally tumultuous in the cryptocurrency market.
This week has seen huge volatility but this time it’s not the only bitcoin in the spotlight.
Where the bitcoin declined slightly at the beginning of the week (December 21), and the performance of the bitcoin can be compared to the arrow emanating from the arc of arrows, as after this return it rose strongly and continues to break records.
In the past couple of days the price of bitcoin has appeared to be a bit indecisive, but things have changed quickly as the coin hit a new record high above $27,500.
And if someone thinks that running is over, they are wrong.
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Today, Bitcoin took another step and broke $27,500, hitting a new all-time high.
This week will go down in history not just because of Bitcoin but because of the high-profile lawsuit brought by the US Securities and Exchange Commission against one of the biggest companies in the crypto space, Ripple.
A few days ago, the Securities and Exchange Commission filed formal charges against Ripple, alleging that it made an unregistered offer of $1.3 billion in securities.
The price of XRP immediately responded with a catastrophic drop of more than 65%. As we mentioned earlier on Arab Bitcoin.
Some exchanges took immediate action and canceled the trading of Ripple.
Since then, XRP has managed to recover a bit, but it still has a long way to go.
Even after recovering and rising above the $0.30 level, it has fallen below this level in the past few hours.
This also took a lot of altcoins with it as most of them witnessed huge double digit losses over the past couple of days.
But the last two days brought hope to many as most altcoins managed to regroup and recover, with the price of Ethereum once again rising above the $600 level and approaching $650.
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It’s interesting to see how the market will develop from here because the SEC is clearly not afraid to go after the biggest players in this space.
Read also:
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