Prices began dropping yesterday after the SEC extended the Cboe exchange-traded fund decision.
The volume needs to pick up in order for the price to pick up due to simple supply and demand, and if it does not, there is a chance that Bitcoin could head towards $6,000.
In conclusion, Michael Arrington, founder of TechCrunch and Arrington XRP Capital hedge fund, thinks that XRP (XRP) outperforms Bitcoin (BTC) and Ethereum (ETH) regarding transactions speed and fees, a feat that, at the moment, can't be matched by BTC or ETH.
Bitcoin price declined sharply from the $7,150 swing high after the US SEC chose to postpone one of the ETF approval decisions. Over the last seven days, First Bitcoin has traded down 19.9% against the dollar.
XRP/USD: The ripple community traded weak, breaking previous support despite news that XRP has now been added to the list of cryptocurrencies by Bitcoin Superstore, allowing customers to purchase from over 200k online retailers via XRP and 5 other cryptocurrencies, Coingape reported recently.
The total cryptocurrency market has lost more than $20 billion over the past 24 hours. This increase is surprising given the significant decrease in Bitcoin's price. ETH/USD tumbled by more than $50 this week and traded below the $400 and $380 support levels. Coinmarketcap reports that the platform has grown by 16% in 24 hour period. One can now be purchased for approximately $0.0000 or 0.00000000 BTC on popular cryptocurrency exchanges. has a total market cap of $0.00 and approximately $0.00 worth of was traded on exchanges in the last day. The top currency swapped for BCH today is tether (USDT) with 54 percent of today's BCH trades.
Bitcoin cash price fell significantly and broke the $600 support against the US Dollar. Tether is followed by BTC (26%), United States dollars (10.9%), QC (2.2%), and ETH (2.1%).
Looking at the 4-hours chart, the price settled below the $6,815 support area and the 21 simple moving average (4-hours).
Hourly MACD - The MACD for BCH/USD is slightly placed in the bullish zone. Below here the November 6 low at $5,622 comes into play.