Bitcoin (BTC), the largest digital currency in the market, has fallen under $3,550 after a week operating above this level. Other digital assets are also registering similar loses on January 20. All top 10 digital assets are operating with losses in the last 24 hours while Bitcoin falls toward support levels.
Bitcoin Falls Under $3,550
Although cryptocurrencies have been trading stably during the last week, on January 20 they seem to be dropping. All top 20 virtual currencies are registering losses between 0.93% and 7.11%.
Bitcoin is currently being traded around $3,600 and it lost 3.91% of its value in the last 24 hours. It also has a market capitalization of $62.93 billion. Meanwhile, XRP and Ethereum are also losing part of their value. XRP is falling 3.08% while Ethereum is registering losses for 4.37%.
At the moment, it does not seem to be a clear reason why the prices are falling. A few days ago, Ethereum’s Constantinople hard fork has been delayed after finding a security breach in one of the codes of the upgrade. This could have affected the market, but the hard fork has already been re-scheduled for February 27. Thus, it shouldn’t be creating a massive sell-off.
In addition to it, on January 16, the U.S. Securities and Exchange Commission (SEC) released an important statement. The regulatory agency informed that the SEC placed a hold on all administrative functions due to the ongoing government shutdown. The decision to approve the ETF proposal can be taken until February 27. This is the same day in which the Ethereum hard fork is expected to take place.
According to Jake Chervinsky, the Bitcoin ETF proposal could eventually be approved if the shutdown continues until February 27. Nevertheless, he explained that this is extremely unlikely to happen.
Bitcoin Cash (BCH) is also falling 5.76%. EOS is losing 6.6% of its price and Stellar Lumens (XLM) is dropping 4.14%. Meanwhile, Litecoin (LTC), Tron (TRX) and Bitcoin SV (BSV) are losing 4.62%, 5,03% and 2.33% respectively.
The worst performing digital asset among the top 20 is NEO. NEO is the 17th largest cryptocurrency. In the last 24 hours, it lost 7.5% of its price. Each NEO can be purchased for $7.5 and it has a market capitalization of $489 million.
