Cryptocurrency Prices Back on Track: Follow-up on CFTC and SEC Hearings
Tuesday, Feb 6. A very much welcomed market development has been taking place following Monday’s speedy dip.
An effecting factor could be the Commodity Futures Trading Commission [CFTC] and the Securities and Exchange Commission [SEC] hearings which were an event today Feb 6. The plans [by the regulators] are to take the crypto-conversation to table including: cryptocurrencies, ETFs and ICO [Initial Coin Offerings].
Despite the up-tick, Bitcoin is still trading below the $8,000 level against the US Dollar [keeping in mind that it was trading $6,150 – this is over $1k gain in a day], while Ethereum [the second in place by market capitalization] is on 10 percent gain the last 24-hours changing hands at approx. $771.11.
The global-scale market capitalization recovered from the lows of $280 bln to $360 bln per time of writing. According to CoinMarketCap, NEO token price against the US Dollar is averaging the best performance in the last day stabilizing at around 20 percent increase. Keeping an above $100 trading ground could open doors for further gain for the pair NEO/USD.