After an off day, as usual, we take a look at the live Bitcoin price and the prices of the top 25 crypto currencies. We also bring updates on NFTs and price expectations for Ethereum (ETH) and Ripple (XRP). Finally, we look at a horrific crypto hostage situation.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto drop slightly
At the time of writing, the live Bitcoin price is quoting EUR 38,827.51 ($43,552.00). This is 0.72% lower than yesterday, but higher than during our crypto lunch the day before yesterday.
The prices of the top 25 crypto are also down slightly overall. We do see some crypto coins posting price gains. The largest gain is currently for Cosmos (ATOM) at +4.80%. The biggest drop is for Cardano (ADA), which is losing 4.16% in 24 hours. On the Tradeincrypto.com site you can view all live crypto prices 24 hours a day.
We immediately see all kinds of experts popping up talking about a new bear wave. In our opinion, it is not that far yet. After days of strong price rises, a slight correction is normal. Now that the price is still higher than the day before yesterday, it seems to us a bit quick to discuss a trend break. We therefore focus on other developments.
SEC now sets its sights on crypto and NFTs
Currently, the SEC seems to be having a tough time in the lawsuit they filed against Ripple (XRP) (more on that below), but that doesn’t stop it from continuing to set its sights on crypto. This time it’s the NFT market’s turn. Indeed, it was announced today that the SEC is investigating parties bringing new NFTs to market and approaching them with requests for information. In particular, the so-called fractional NFTs (NFTs that are divided into several tokens, which are then sold separately) are in the interest of the regulator.
Again, the regulator’s focus is on how these NFTs raise their money and whether, in doing so, they would have to comply with strict securities regulations. Legal specialists are divided on whether NFTs can be seen as security. it is clear, however, that according to SEC Chairman Gensler, the NFT should be seen as security.
How will the Ripple (XRP) lawsuit proceed and why do we expect a price drop for this crypto?
As we reported earlier this week, the lawsuit between Ripple (XRP) and SEC will enter its next phase this week. Still this week we expect the court’s directions for this. These will mainly focus on certain evidence that may or may not be used and instructions on whether or not to disclose documents. Although the Ripple (XRP) seems to have a strong case in this matter, expect a price drop in the short term.
This is because the organization behind the Ripple (XRP) has released another 800 million coins. 200 million XRP arehttps://youtu.be/6RSOPdF6k58 intended to cover the costs of the organization. The other 600 million XRP will be transferred to exchanges. This large additional supply is creating price pressure. Because these issues are going according to schedule, it is expected that the market has priced in the risk of additional supply and that the effect will be small. Therefore, as you can see in the analysis below, one foresees a buying opportunity up to a price of $1.06.
The live Ripple (XRP) price is quoting $0.769 and this is 0.23% lower than yesterday. So there seems to be a nice return in store.
Will Ethereum (ETH) continue to fall in the short term?
One of the crypto currencies that is currently recording a loss is Ethereum (ETH). In fact, the live price of Ethereum (ETH) is currently at $2,913, which is 2.37% lower than yesterday. This is remarkable, as this crypto seemed to easily pass the resistance at $3,000. However, at a price just above $3,040, the market decided to take profits, causing the price to fall. The currency quickly dipped below $3,000 and $2,950, with which the bullish support level of $2,960 also failed to hold. This seems to set the stage for a downward trend. Next support levels are at $ 2,880 and $ 2,750. The breaking of support levels leads to distrust and thus Ethereum seems ready for a further correction. The entire analysis with chart can be seen here.
Gruesome robbery over crypto before Scottish court
When it comes to crypto, emotions can run high and you always have to be careful who you can trust. Scottish immigrant Thembalethu Ndlovu can relate to this. After he was asked by 2 acquaintances to help open a crypto account, a conflict arose. They felt that Ndlovu had disadvantaged them financially. To get redress, they lured him to their apartment.
Then began a horror hostage situation that lasted no less than 9 hours. Ndlovu was undressed and tied up on a bed in his underpants. He was then beaten, kicked, abused, and doused with boiling water. In between all the misery, Ndlovu had the opportunity to make phone calls for money. That way he could get his girlfriend to raise the alarm. By the time the police raided the premises, his girlfriend had already paid GBP 970, but apparently that was not enough, because Ndlovu was still tied up in bed. Meanwhile, the victim is recovering and the perpetrators may explain their behavior to the Scottish judges on appeal. Once again, a lesson to be particularly careful if you want to do physical crypto business with others.
Staying up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”