CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$24,132.00
  • ethereum
    ETH$1,687.52
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Turbulent Week For Bitcoin’s Price, Volatile Christmas Coming Up? The Weekly Market Update

    Turbulent Week For Bitcoin’s Price, Volatile Christmas Coming Up? The Weekly Market Update

    Author: George Georgiev

    Last Updated Dec 20, 2019 @ 17:15

    December is almost over, and it’s safe to say that it has been action-packed. Over the past week, Bitcoin’s price went on a rollercoaster, dropping to a low of around $6,500 only to correct to approximately $7,200 where it currently trades, leaving many to question whether the bottom was already in. Looking at the bigger picture, however, one year ago, Bitcoin was trading at around $3,122, which means that it has managed to more than double its value.

    It’s worth noting that while the price was jumping up and down throughout the entire week, Bitcoin’s dominance has been surging. In the last seven days, it’s up almost 2%, standing at 68.3%. This means that altcoins have been struggling to claim any new grounds, despite the turbulent price action.

    Looking at altcoins, the week has been relatively disappointing. Most of them are charting decreases upwards of 5% against both Bitcoin and the USD. Of course, as it’s almost always the case, Bitcoin’s recovery also helped altcoins, and they did manage to patch up some of the losses from the beginning of the week.

    The market continues its development, and exciting news came from the European Union. New and strict regulations will take effect in January 2020, which would require cryptocurrency businesses to implement more thorough KYC and AML check-ups. Fidelity Digital Assets, one of the world’s largest asset managers, is also set to expand its crypto services in Europe.

    In retrospect, the week was eventful in terms of both price action and news. As we enter the week of Christmas, it’s interesting to see whether Santa will come early or will it be a no-show.

    Alicia Bakery
    CMO - A really good agency

    Did you like this market update?
    This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

    Invalid email address
    Your privacy is guranteed.
    Thanks for subscribing, you will get your first report in the next hours!
    ADVERTISEMENT

    Market Data

    Market Cap: $190B

    24H Vol: $71B

    BTC Dominance: 68.3%

    BTC: $7,196 (0.56%)

    ETH: $128,65 (0.65%)

    XRP: $0,193 (2.33%)

    Market Update

    The Bearish Sentiment: 70% Think Bitcoin’s Bottom Is Below $6,000. The beginning of the week was hard for Bitcoin, as the price plummeted to around $6,500. One prominent analyst took it to Twitter to ask where do people think Bitcoin will bottom. The majority said that it would be below $6,000.

    Fidelity Digital Assets To Expand Its Cryptocurrency Services In Europe. One of the largest asset managers in the world, Fidelity, is expanding its cryptocurrency services in Europe. The news is positive in terms of the institutional investment that’s flowing into the market. This will allow larger investors to enjoy compliant and institutional-grade storage solutions for Bitcoin.

    Strict Regulations For Cryptocurrency Businesses In EU To Take Effect In January 2020. Cryptocurrency companies and services that are based in the Europen Union now have less than a month to become compliant with a new set of regulations. After January 10th, the Fifth Anti-Money Laundering Directive (5AMLD) will be in effect, requiring thorough KYC/AML procedures.

    The Next Crypto Trend For Exchanges? Coinbase Is Now The Largest Tezos Validator. Per a recent report, Coinbase, the biggest US-based cryptocurrency exchange, is the largest validator for Tezos (XTZ). Interestingly enough, this puts a new potential trend on the block, and people wonder of validation from exchanges will become a hotter topic in the following months.

    Exactly One Year Ago, Bitcoin Price Nailed 2018 Bear Market At $3,122. Time flies when it comes to Bitcoin’s price. Just a year ago, the world’s largest cryptocurrency found its 2018 bottom at $3,122. Now, after a turbulent 2019, Bitcoin managed to more than double its value and currently trades at around $7,200.

    Vitalik Buterin: The Ethereum Foundation Sold 70,000 ETH At The All-Time High. The co-founder of the second-largest cryptocurrency by means of total market capitalization admitted that the Ethereum Foundation managed to sell 70,000 ETH when it was at its all-time high. Given its price back then, the ETH that was sold netted the foundation around $98 million.

    Charts

    This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Litecoin, and Binance Coin – click here for the full price analysis.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.

    You Might Also Like:

    • Bitcoin222
      Market Watch: Will The New Week Finally Move Bitcoin Price?
    • filb2
      $14,000 By End of 2020 a Reasonable Target for Bitcoin's Price: Filb Filb in Exclusive Trader's Digest
    • paypal_crypto_bitcoin-min
      The Good and The Bad About Cryptocurrency on PayPal
    Tags: Bitcoin Ethereum Regulations
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

  • bitcoin
    BTC$24,132.00
  • ethereum
    ETH$1,687.52
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top