Bitcoin Breaks Another Record, As Ripple Falls

Bitcoin Breaks Another Record, As Ripple Falls Bitcoin breaks another record, as ripple falls. The waters are still blurry in the cryptocurrency market. Bitcoin (BTC), the leading unit of the cryptocurrency world, broke its new record with $ 28,571. Ripple, on the other hand, increased its losses due to the SEC lawsuit. With institutional investors turning to Bitcoin (BTC) recently, BTC has tripled in 2020 and exceeded $ 28,000. The total market value of the leading crypto currency, which broke a record with $ 28,571 today, has exceeded $ 520 billion. Bitcoin, which rose above the $ 28,000 level at the weekend, is very close to recording the monthly earnings series that it has not recorded for more than a year. Ripple, on the other hand, continues to lose. Ripple (XRP), the third cryptocurrency, is having a bad day due to the SEC lawsuit. Legal proceedings were initiated after the US financial market regulator SEC opened an investigation into Ripple for misleading investors. Due to this development, Ripple users are leaving XRP day by day. So much so that Ripple, which has declined more than 10 percent in the last 24 hours, has lost more than 40 percent in just one week. These movements in the cryptocurrency market make different opinions inevitable. Cryptocurrency users are particularly polarized about Bitcoin. While some think that the dollar acts as a portfolio diversifier due to its weakness and the possibility of inflationary pressure, others think that this rise is a speculative increase that will lead to a collapse, as it did three years ago. On the subject, Vijay Ayyar, business development manager of the crypto currency exchange Luno, says: “We should definitely see some retracement, but the magnitude will probably be less. We can only see it with a 10 to 15 percent drop.”