Summary of the week: the Bitcoin cash that almost doubled compared to April, the Litecoin which is close to $100 and the Bitcoin always in difficulty that slides back below the threshold of $ 8.000.
BITCOIN CASH FUND
Bitcoin Cash seems to be the cryptocurrency of the moment. Many observers think so, after last Saturday, when the Bitcoin Cash miners met to discuss for a Bitcoin Cash development fund.
To improve Bitcoin Cash, the fees obtained by the miners during their extraction activities are flowing into the fund.
Bitcoin Cash has traveled around $1.300 in the second week of May and then dropped below that figure a few days later; but the progress compared to the 763 dollars in April was considerable, although not entirely in line with the forecasts of the experts.
LITECOIN GOES DOWNWARD
The quotation of Litecoin returns to lose ground, in perfect harmony with the rest of the other cryptocurrencies.
At the beginning of the week, Litecoin found itself exposed to a new sales pressure that hit the market causing losses of more than 5 percentage points per week.
Litecoin was obviously dominated by a predominantly bearish sentiment. In recent sessions the cryptocurrency has suffered the strength of the US dollar. The quotations of the Ltc / Usd exchange have in fact fallen to below the lows of the last month in the area 123-124 dollars. According to the latest expert forecasts, a drop in Ltc / Usd under this area could exacerbate the weakness of the cryptocurrency, up to bring it back to $ 100. This threshold was already touched by Litecoin last December.
BITCOIN LOST 12%
As well as Litecoin and other cryptocurrencies, the price of Bitcoin once again fell below the $ 8.000 threshold.
As repeated by many parties, the price of Bitcoin and that of its virtual colleagues has weighed the disillusionment followed by the Consensus Conference 2018, which has failed in the attempt to advance the sector as in previous editions.
The Consensus disappointed the most enthusiastic and both the price of Bitcoin and the prices of the major cryptocurrencies in circulation were not able to take advantage of the event.
The week that is about to be concluded was inaugurated by a positive performance of the price of Bitcoin which get back the listing above the $ 8.500 threshold. All thanks to the gains made by the cryptocurrency in the previous weekend, when it jumped by more than 6 percentage points.
After trading around $ 8.500, however, the BTC / USD reversed its course and the sales pressure came back: from the highs of Monday to Thursday night lows, the price of Bitcoin lost more than 12 % and went back on the threshold of about $ 7.4090.
The price of Bitcoin, according to some, was the last decisions of the US SEC that recently brought to light numerous cases of fraud related to ICOs and even launched a website to help investors gain greater awareness of the risks involved to the virtual phenomenon.