It’s been a shaky 36 hours for cryptocurrency, at around 18:49 UTC yesterday all of the top cryptocurrencies began their bearish decent, as major exchanges had technical difficulties just after Bitcoin (BTC) hit an all-time record high of $11,488.
Source : CoinMarketCap
At press-time, it seems that the top 11 major cryptocurrencies by market value have rebounded and are now back in the green.
Currently, BTC is up 1.28 percent in 24 hours but during its high volatility between yesterday and today, it dove -18.9 percent. The second largest cryptocurrency by market value, Ethereum (ETH), also hit record highs yesterday just before the plummet. ETH reached $522.31 at 13:04 UTC yesterday before falling all the way down to $405.10, a crazy -22 percent and is now up 1.82 percent in just 24 hrs. As it shows in the graph from this morning, the company that had the best two days, is the 9th largest cryptocurrency, Cardano, that hadn’t seen any dip in its price.
As per CoinMarketCap, it seems throughout the day on Thursday, that Ethereum Classic’s market cap has now surpassed Monero’s.
Coinbase seems to be up and fully functional, as they claim based on their website that ‘maintenance’ has been completed today across all services, due to the high traffic they received yesterday and weren’t equipped to handle.
Yesterday, their current status read:
“Monitoring – Coinbase is performing maintenance to improve performance under high-traffic given the large volumes we saw today. Ether buys and sells are online. Bitcoin and Litecoin buys and sells are offline and we are actively working on restoring full functionality. Customers can still access their accounts, deposit and withdraw.
Nov 29, 22:26 PST”
As we enter the last month of 2017, Bitcoin futures are days away from launching, on the Chicago Mercantile Exchange, which could bode extremely well for the cryptocurrency. It’s been recently reported that Nasdaq is looking into trading Bitcoin futures around June of next year and Goldman Sach’s CEO, Lloyd Blankfein, recently states that his bank will “think about” trades if Bitcoin becomes more established. If these futures, set to launch on December 11th, end up successful this could be the biggest milestone to launch the cryptocurrency more mainstream and catch the eyes of traditional investors, that have remained skeptical.
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