What's Happening in the Cryptocurrency Market? (May 19)

Here are the cryptocurrency news of May 19, 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 started to recover 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. Bitcoin, Ethereum and other cryptocurrencies were negatively affected by the decline in the US markets. However, the real blow came from Tesla founder Elon Musk. Musk announced that due to the it’s carbon footprint, Tesla will no longer accept Bitcoin as a payment instrument. The decline that started after this announcement took another blow with Musk's last post. BTC dropped below $ 44K. Other cryptocurrencies also declined. Cryptocurrencies, which started the week in a downward trend but recovered slightly on Tuesday, fell on the news from China.

How Much Is A Bitcoin?

Bitcoin and cryptocurrencies started the week with a depreciation, while recovering somewhat in Tuesday's transactions. However, with the news from China, it fell sharply. Bitcoin would see below $ 40,000 for the first time after a very long period. BTC, which was pulled to the level of 38 thousand 950 dollars at a time, is currently trading in the 39 thousand 315 dollar band. Analysts had warned that the $ 42k band was a support prior to this drop and that a deeper drop would be seen if this support level is broken down.

What Is The Price of Ethereum?

Ethereum lost 16.80 percent on Wednesday and started trading at $ 2,931.71. With this move, the market value of ETH became $ 339.86B. Ethereum has fluctuated between $ 2,869.62 - $ 3,434.01 in the last 24 hours.

What Is The Price of Ripple?

XRP, which recovered slightly in yesterday's transactions, lost 6.81 percent in value with Bitcoin's deep decline in today's transactions. XRP is being traded at $ 1,41892 at the time of writing. However, the market value of XRP stood at $ 49.59B. XRP moved between $ 1.37231 - $ 1.64286 throughout the day.

How Much Was BTT?

The sharp decline in bitcoin has literally pulled the plug of altcoins. BTT has lost 13.87 percent in the last 24 hours and is being bought and sold at $ 0.004810 at the time of writing.

What Is The Price of CHZ?

Chiliz, on the other hand, continued his losses in Tuesday's transactions, when the cryptocurrencies recovered slightly. Accelerating its decline with the decline in Bitcoin, CHZ began trading at $ 0.371904 with a 16.21 percent loss of value.

Latest News

China Banned Cryptocurrencies China has banned financial institutions and payment companies from serving Bitcoin and cryptocurrency transactions, and warned investors against speculative crypto trading. According to the ban issued by three industry bodies on Tuesday, such institutions, including banks and online payment channels, are prohibited from providing any services that include, such as cryptocurrency registration, exchange and settlement, to their customers.