Current Bitcoin Price: $4532 (as of 8:00 AM PST)
Earlier this morning the 24 hour charts were showing some green percentages, but since the clock has cycled around a few more hours the 24 hour price changes have all moved into the red.
Bitcoin is down 3.6%, sending a wave through the rest of the market. XRP is down by a similar 3.6% and Ethereum by 4.4%, but generally speaking everything is down 3-4%.
Top Bitcoin & Crypto News Stories for 21st November 2018
Bakkt is the hugely-awaited Bitcoin futures platform, drawing its experience in the financial sector from executives of ICE — the Intercontinental Exchange — and was set to launch this month.
However, the launch for Bakkt’s futures contracts has been delayed until January 24, 2019. It’s unclear whether this has in part been caused by or perhaps has caused the market’s downwards price action.
Earlier this year we heard the first allegations that Bitcoin’s huge 2017 bull run, culminating in a new all time high of around $20,000, was caused by market manipulation involving stablecoin Tether (USDT) and cryptocurrency exchange Bitfinex.
The United States’ Department of Justice is continuing to research these claims, although no formal accusations have been put forward.
The RSI (Relative Strength Index) is a technical indicator that falls under the bracket of oscillators, which are especially useful for identifying the reversal of price trends. Low values of the RSI signal a coin is oversold and ripe to bounce back, while high values signal a coin is overbought and ripe to correct.
Bitcoin’s RSI value is lower than its ever been, signalling that it could be a prime time for a bounce back to previous levels.