What's Happening in the Cryptocurrency Market? (June 8)

Here are the cryptocurrency news of June 8, 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? The cryptocurrency market is very active with the recent news flow. The statements of US President Joe Biden regarding the changes in the tax law, the CBRT's ban on cryptocurrencies from payments, and the addition of crypto asset service providers to the liabilities section by publishing a new regulation with the presidential decision had a great impact on the cryptocurrency market. On the other hand, the negatively affected cryptocurrency market recovered after US Treasury Secretary Janet Yellen said that interest rates may need to increase moderately to prevent the US economy from overheating due to high government spending. However, Bitcoin, Ethereum and other cryptocurrencies were negatively affected by the decline in the US markets. Despite all this, the main blow came from Tesla founder Elon Musk. The decline started when Musk announced that the company would no longer accept Bitcoin as a means of payment due to its carbon footprint. Cryptocurrencies were adversely affected by China's ban on cryptocurrencies and the Bank of Japan's Governor criticizing BTC. The cryptocurrency market, which made a good start to June, crashed again with the latest posts of Elon Musk. BTC started to recover yesterday after the President of El Salvador announced that he will make Bitcoin the national currency and with the news that MicroStrategy will buy Bitcoin.

How Much Is A Bitcoin?

After the cyber-attack on the Colonnial Pipeline, the largest pipeline in the USA, confidence in Bitcoin decreased as the BTCs that the company paid as ransom to the attackers were seized and institutional investors began to withdraw from the cryptocurrency market. With this news flow, losses of more than 10 percent were experienced in the entire market. Bitcoin, whose loss in the last 24 hours has increased to 10.10 percent, is trading at $ 32,923.2 at the time of writing.

What Is The Price of Ethereum?

Along with the sharp decline in Bitcoin, the leading altcoin Ethereum also saw a decrease of over 10 percent. ETH, which is moving between $ 2,435.14 - $ 2,618.70 during the day, has lost value by 10.73 percent in the last 24 hours. The unit is currently traded at $2,493.24.

What Is The Price of Ripple?

Affected by the market painted red with the withdrawals in the crypto market, XRP lost 11.54 percent. XRP, whose loss in the last 7 days has reached 14.20 percent, is trading at $ 0.85443 at the time of writing.

How Much Was BTT?

BitTorrent, which has been losing for days, lost value by 9.34 percent in Tuesday's transactions. The unit is currently trading at $0.003691.

What Is The Price of CHZ?

CHZ, which suffered consecutive losses due to the decline in Bitcoin, followed the general decline in the cryptocurrency market. CHZ, which has lost 14.99 percent in the past 24 hours, is trading at $0.231119 at the time of writing.

Recent news

Iran Demands Legalization of Cryptocurrency Activities After the President of El Salvador, who recently sent a video message to the Bitcoin 2021 event stating that they prepared a bill to make Bitcoin the national currency, this time a similar move has been made by Iran. An unexpected move came from Iran, which stopped cryptocurrency mining until September 22 in order to prevent power cuts that occurred in the previous weeks. President Hassan Rouhani has demanded the legalization of cryptocurrency activities in the country. Rouhani said the following regarding the legalization of cryptocurrency activities: “Cryptocurrency activities should be legalized to protect public capital and ministries should start working on this issue quickly.”