[2018-09-11]CryptoMarket Plumbs 10-Month Low As US SEC Suspends Trading in 2 Sec

[Vladdirescu87]

CryptoMarket Plumbs 10-Month Low As US SEC Suspends Trading in 2 Securities

The crypto bear market sealed a 10-month low after Bitcoin’s jumbo competitor fell and US regulators interrupted by suspending trading in two major securities that are linked to cryptocurrencies.

Ethereum, the second-biggest cryptocurrency, declined 8.9% from its trading level at around 5:00 pm New York time on September 7. Bitcoin declined 2.1%, while the market capitalisation of cryptos tracked by CoinMarketCap.com funked to $197 billion-down around $640 billion from its January 2018 apex.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cryptomarket-plumbs-10-month-low/

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[1Referee]

Wonderful.

It's about time that altcoins, which serve next to no purpose, are deflating. Seriously, the longer this bear market lasts, the more healthy the price ratios start to look.

Poor Bitmain, their precious BCash stash has resulted in a virtual $500 million loss as we speak, and the end doesn't seem to be near yet. Bitmain is in a very bad position right now. On one side they have to keep providing artificial buy support for BCash with their Bitcoins, and on the other side they can't endlessly keep throwing around with Bitcoins because that would again weaken their financial position.

Whatever they do right now, it will for sure hit them hard financially. That's what you get for choosing the wrong shitcoin to support.