November 19, 2018, 12:07
Bad news for crypto-currency investors. Earlier this week, Bitcoin, Ripple and Co continued to lose value. Why that? In Switzerland, the first crypto-ETP, to be traded on the Six Swiss Exchange, has since been approved.
Digital currency courses like Bitcoin. ether, Litecoin or XRP dropped significantly earlier in the week. This continues the wide sale already seen last week.
On the Bitstamp trading platform, Bitcoin's price of $ 5,173 has dropped to its lowest level since October 2017. Since Wednesday, losses have fallen to 17 percent. By December 2017, the price was at a record low of just under $ 20,000.
Reasons for Price Decline
According to the Coinmarketcap website, the total value of about 2,000 digital systems currently stands at just over 170 billion dollars (about 149 billion euros). Last Wednesday, $ 210 billion, at the height of the crypto boom, hit nearly $ 830 billion.
There are many reasons for the weakness of cryptographic currencies in the market. These include, first and foremost, the useless waiting of many Bitcoin supporters for the introduction of a traded system. The index funds (ETF) in Bitcoin and Co. In addition, Bitcoin Cash, This criptomoeda was created even after a division of Bitcoin.
Approved by ETP Encryption
There is no ETF encryption yet Crypto-ETP (Exchange Traded Product), however, can already be traded on the Swiss Exchange Six Swiss Exchange in the near future. ETP will follow a weighted average price of Bitcoin, Ethereum, XRP (ripple), Bitcoin Cash and Litecoin. The issuer is Amun's start-up. (AFX / kl)