Cryptocurrency review and forward-looking: mainstream currency is now diving

The mainstream currency is now collectively diving, and the 6000 mark has saved the BTC coin life.

 

In the middle of last week, a wave of collective diving in the mainstream currency triggered a panic in the market. The BTC price plunged a thousand dollars in just 24 hours, causing the accumulated gains in this month to be instantly retreated. The market was about the cause of this diving. The suspicion of opinion is flooding the market, but in the end the parties have not reached a practical agreement. Fortunately, during this wave of plunge, BTC once again maintained the 6000 integer mark, which also caused the currency market to return to calm after a brief panic.

 

On Tuesday, the Supreme Court of India will hold a hearing on all petitions against the Indian central bank’s ban on the issuance of digital currency business to financial institutions. The market is extremely concerned about this hearing. If there is a positive result, it will be an excellent opportunity to welcome a new round of rally after the market oversold last week.

 

Last week, the mainstream currencies showed a collective decline. In most of the currencies from Wednesday night to Thursday morning, there was a diving market. The market changed its previous modest upward trend and quickly turned around. Due to the limited rebound in the latter half of the week, the whole week ended. The mainstream currencies were eventually closed. Among them, the two major currencies of ETH coin and IOST led the decline, and the declines in the week exceeded 30%. DASH price recovered its lost ground due to the strong rebound during the weekend. The final decline in the week narrowed to less than 5%, becoming the strongest among mainstream currencies last week. Currency. BTC continued to maintain its consistently stable posture. Although it led the market out of the collective decline, it fell only 13% in the week, and the actual disk is stronger than most currencies.

 

Focus event this week: Indian Supreme Court hearing discusses digital currency ban

The focus of this week's market news is the hearing of the Indian Supreme Court (SC) on Tuesday (September 11). This hearing will discuss topics such as the Indian central bank's digital currency ban. Sumit Gupta, CEO of India's first coin-to-coin encrypted digital currency exchange, CoinDCX, said that all Indian digital currency exchanges and traders are concerned about the hearing of the Supreme Court of India. Gupta expects that the positive judgment will boost the digital currency trading volume in the Indian market, which is expected to drive domestic trading volume back to the level of the third quarter of last year. The exchange will increase hundreds of thousands of new users. Before the next bull market, the trading volume will even Will grow further. Negative judgments will only allow users to switch to peer-to-peer trading platforms. In the end, Indian traders will find ways to invest in cryptocurrency through innovative channels.