To say that the past seven days were eventful would be an understatement. The cryptocurrency market saw a lot of important developments, and its total capitalization now hovers around $1.14 billion.
That said, Bitcoin’s price went through a rollercoaster. This time last week, the primary cryptocurrency was trading at around $27,000 (or slightly below it, if we have to be precise). It conquered $27K during the weekend, but it was on Monday when the action started picking up. BTC soared to around $28.5K.
Unfortunately, the bulls were unable to maintain the pressure, and the bears took control, pushing the price back toward $27K in the following days. It has been a back-and-forth since, but just a few hours ago, the price shot up to $28K again, and it’s now trying to break above this pivotal level on its way to $30K.
The story of the week, however, was elsewhere.
The case between Ripple and the United States Securities and Exchange Commission is ongoing. The presiding judge – Analisa Torres – decided earlier this week to toss the request for an interlocutory appeal by the SEC against a ruling she had made earlier in July.
Author: George Georgiev