Market Update 11.10.18 – Bitfinex Users Struggle to Withdraw Funds
Market News
Bitfinex Users Struggle to Withdraw Funds
Customers of Bitfinex are struggling to withdraw their funds from the cryptocurrency exchange. Three weeks after being told that things were now operating normally once again, Bitfinex users are still struggling.
On October 15, the exchange had announced that all crypto as well as fiat withdrawals were back to normal. However, this is not the case. Users are still complaining that they haven’t received their money despite having withdrawn their funds weeks ago. When contacted for information by the media, Bitfinex has declined to comment.
Read the details of the story here.
Draper: BTC Will Be Worth $250k in 2022
Venture capitalist and BTC stalwart Tim Draper still stands by his prediction that the price of Bitcoin (BTC) will hit $250,000 by 2022. During a panel discussion at the Web Summit conference on November 6, Draper stated that BTC will be worth that much by April of 2022.
In his speech, Draper also questioned the need for fiat currencies that were dependent on political stability. He asked why the world needed currencies that were determined by a country’s politics. He said that the advent of a totally apolitical, global as well as open currency would wrest control of money away from banks and governments and give that control back to the common people.
Find out more about the story here.
More Crypto Firms Get Cease and Desist Orders
According to an official notice published on November 9, Gerald Rome, the Colorado State Securities Commissioner, issued cease and desist orders to four ICOs (Initial Coin Offerings) for having allegedly offered their clients unregistered securities.
These orders were passed as part of the “ICO Task Force”, a state operation conducted within the Department of Regulatory Agencies (DORA). This task force commenced operations in May this year and started investigating possible illegal and unlawful activities that were targeted at cryptocurrency investors. Now, with these four orders, the total number of cease and desist orders that the DORA has issued stands at 12.
Read more here.
Total Market Cap: Nov 10
The cryptocurrency market is currently valued at $212.06 billion, down $2.19 billion from yesterday. Its volumes of trade are also down to $12.6 billion today.
Bitcoin Price Analysis: Nov 10
Bitcoin slipped by another 0.81% to its current trading price of $6388.90 since yesterday. BTC’s market valuation is $110.96 billion and its trading volume is now $4.15 billion.
Ethereum Price Analysis: Nov 10
Ethereum slipped 0.83% to trade at $210.85 since its big drop yesterday. The crypto’s market cap is now $21.74 billion and is trading at volume of $1.52 billion.
State of the Top 10 Cryptocurrencies: Nov 10
Tether is the only one of the top 10 most valuable cryptocurrencies to be in the green today – by 0.2%. The rest of the cryptocurrency are trading in the red, down for the third day in a row. The biggest losers in today’s trading are Bitcoin Cash, which has plunged 6%, followed by Cardano, which has dropped in price by 3.60% and EOS, which is down by 2.22%.
- Bitcoin’s price is $6388.90, slipping 0.81%. The worth of the crypto is now $110.96 billion.
- Ethereum’s price is $210.85, slipping 0.83%. The worth of the crypto is now $21.74 billion.
- Ripple’s price is $0.502623, slipping 1.25%. The worth of the crypto is now $20.20 billion.
- Bitcoin Cash’s price is $545.47, slipping 6%. The worth of the crypto is now $9.51 billion.
- EOS’s price is $5.38, slipping 2.22%. The worth of the crypto is now $4.87 billion.
- Stellar’s price is $0.256770, slipping 2.04%. The worth of the crypto is now $4.86 billion.
- Litecoin’s price is $51.95, slipping 0.86%. The worth of the crypto is now $3.06 billion.
- Cardano’s price is $0.0743, slipping 3.60%. The worth of the crypto is now $1.92 billion.
- Tether’s price is $0.992870, gaining 0.20%. The worth of the crypto is now $1.75 billion.
- Monero’s price is $105.93, slipping 1.18%. The worth of the crypto is now $1.75 billion.