What's Happening in the Cryptocurrency Market? (June 16)

Here are the cryptocurrency news of June 16, the most up-to-date developments, here are the most appreciating and depreciating cryptocurrencies...

Interest in cryptocurrencies has increased significantly during the coronavirus outbreak. However, investors began to closely monitor the movements of important cryptocurrencies such as Bitcoin, Ethereum and Ripple. The most curious cryptocurrencies by investors; How did Bitcoin, Ethereum, Ripple start the day? Cryptocurrencies were adversely affected by China's ban on cryptocurrencies and the Bank of Japan's Governor criticizing BTC. On the other hand, the prospect of India accepting Bitcoin and the start of the Bitcoin Mining Council have rebounded slightly. However, on Sunday, Bitcoin fell due to some negative news. The first of these was cited as an investigation by the Executive Directorate of WazirX, the largest cryptocurrency exchange in India, owned by Binance, for money laundering allegations. Secondly, Hasekamp, ​​Head of the Dutch Central Planning Bureau (CPB), was shown calling for a ban on digital currencies. In Monday's transactions, BTC reached more than 40 thousand dollars, with Elon Musk's announcement that he may allow BTC payments in Tesla, provided that at least 50% of Bitcoin mining is done with renewable energy, and Paul Tudor Jones III once again praised Bitcoin. Recovering market took on a positive mood with the emergence of the MicroStrategy's report that it will sell stocks for 1 billion dollars.

How Much Is A Bitcoin?

Moving between $38,609.7 – $40,494.4 during the day, Bitcoin is currently trading at $38,697.5. The Chinese police's detailed interview about cryptocurrencies was effective in the fall of the unit, which has lost 3.44 percent in the last 24 hours. It was stated that there was an increase in fraud cases due to the increase in interest in cryptocurrencies at the live broadcast event. In the interview, it was noted that the cases of USDT counterfeiting sent via ERC-20 also increased. In addition, although there is no expectation of a market-wide interest increase by the FED, statements about employment figures and collection purchases are also very important for the crypto market. If purchases continue, it should be taken into account that investment products such as gold and cryptocurrencies may react negatively if the dollar index shows a positive reaction.

What Is The Price of Ethereum?

On Ethereum, there is no danger as long as the 2250 - 2185 band does not break down. ETH, which opened the day at $ 2540 levels, lost value by 4.48%. On the other hand, Fibonacci at 2.400 levels can make a return over 0.618. In case of this reversal, a move up to the $2740 levels may be seen. ETH, following the decline in Bitcoin, is trading at $ 2,438.21 at the time of writing.

What Is The Price of Ripple?

Ripple, on the other hand, started to decline after the latest developments in the SEC case. Moving between $0.82714 and $0.87309 during the day, XRP has lost 3.80 percent in the past 24 hours and is currently trading at $0.83747.

How Much Was BTT?

BitTorrent rose slightly in yesterday's transactions. BTT is traded in the range of 0.003323 - 0.003530 during the day, is trading at $ 0.003372 at the time of writing. The loss of the unit in 24 hours was 2.76 percent.

What Is The Price of CHZ?

Chiliz had a successful performance, gaining 34.34 percent on Friday, June 11th. Later, Chiliz, which went into decline, is trying to recover its losses. CHZ, which started to rise in yesterday's transactions, has gained 18.84 percent in the last 24 hours. The unit, which moves in the range of 0.282710 - 0.366445 during the day, is currently trading at $ 0.333629.

Recent news

Bitcoin Draft Bill Is On The Agenda In Panama Panama, another Central American country after El Salvador, will discuss the adoption of Bitcoin as a national currency in the coming period. Congressman Gabriel Silva  made a statement and said that he plans to bring the draft law to the Congress. Silva stated the following in his statement to CoinDesk: “I found El Salvador's project positive, ambitious, interesting and well-received. We will try to adapt the same situation to Panama conditions and create a positive environment. Next month, I intend to bring the relevant bill to parliament. The legalization of certain currencies is currently prohibited in Panama. Bitcoin is not among them. This makes our job easier.” Bitcoin Statement from General Motors Mary Barra, chairman and CEO of General Motors, the largest automobile manufacturer in the USA, made important statements about vehicle sales with Bitcoin. Participating in a program on CNBC, Barra was asked "Do you intend to sell vehicles with Bitcoin?" gave the following answer to the question: “Our customers will decide that. We will proceed according to their demands.” Thus, Barra implied that if such a request comes, they will accept payment with Bitcoin.