Current Bitcoin Price: $3285 (as of 9:00 AM PST)

The cryptocurrency has taken another big hit today, falling by roughly 10% around the board. Both Bitcoin and XRP are down by just about 9.5%, while Ethereum and Stellar are down by 13.3% and 14.6% respectively.

Bitcoin SV is one of few coins that has managed to maintain its value over the last 24 hours, in fact rising by almost 2%. Pit that against major platform coin EOS, which is down 23%, and you can see why people describe the market the way they do.

Top Bitcoin & Crypto News Stories for 7th December 2018

Coinbase ETH price briefly drops to $13

Flash crashes are not a new phenomenon in the cryptocurrency space. Back in 2017, the price of Ethereum fell to just $0.10 from a value of $300 thanks to the progressive liquidation of shorts.

A similar occurrence happened today on Coinbase Pro’s ETH/USDC market, where the peg fell to a dollar equivalent of $13 per Ethereum before quickly recovering.

Congressman pushes to exempt crypto from securities laws

Warren Davidson is a US congressman from Ohio state. While he’s not a huge Bitcoin evangelist, he has been referred to as a “voice of reason” in the cryptocurrency space.

Interestingly, he’s pushing to have cryptocurrencies and ICOs exempted from securities laws, saying that they should be treated as a separate asset class with their own rules.

Indian business school logging certificates on the blockchain

While India puts forward a lot of smart individuals, there’s an epidemic of forged degrees and general academic misconduct in the country. Hmm, sounds like blockchain could help.

One of India’s top ten business schools, SP Jain School of Global Management, has decided to issue certificates to students on the blockchain. This will help others verify their integrity and hopefully kickstart a blockchain-fuelled fight against the country’s other academic issues.