{"id":42381,"date":"2018-04-06T20:30:27","date_gmt":"2018-04-07T03:30:27","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=42381"},"modified":"2026-04-20T10:09:43","modified_gmt":"2026-04-20T09:09:43","slug":"crypto-week-in-review-btc-eth-xvg-ltc-bch-xrp","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-week-in-review-btc-eth-xvg-ltc-bch-xrp\/","title":{"rendered":"Crypto Week in Review: Bitcoin, Ethereum, Verge, Litecoin, Bitcoin Cash and Ripple Struggle"},"content":{"rendered":"

It has certainly been an up-and-down week for cryptocurrencies. Things started out relatively peaceful when allegations arose that the currency had somehow dominated its incoming \u201cdeath cross<\/a>,\u201d and that the slump users had been witnessing over the past several days may be coming to end. This seemed to hold true when Bitcoin rose from $6,900 to $7,100 \u2013 a $200 jump from where it had long stood.<\/p>\n

All Barricades Defied?<\/h2>\n
\"Coincheck
Related Story:\u00a0Japanese Brokerage Firm Monex Group to Buy Crypto Exchange Coincheck<\/a><\/figcaption><\/figure>\n

Within 24 hours, ideas of recovery were swelling social media and news platforms as the currency rose to just under $7,500 following the announcement that Coincheck<\/a> \u2013 one of Japan\u2019s biggest cryptocurrency exchange platforms and the recent victim of a hack that saw over $500 million in NEM<\/a> stolen last January \u2013 would likely be \u201crescued\u201d by Tokyo-based exchange Monex Group.<\/p>\n

The company issued a formal statement saying that it was in talks with Coincheck about a possible \u201ctakeover,\u201d and that a deal could be reached by the end of the week. This sent the price of bitcoin surging, as hope and enthusiasm once again found themselves fluttering through the cryptocurrency arena.<\/p>\n

This positivity was short-lived, however, as a near $600 drop in the price occurred the following day, and bitcoin fell to about $6,800. Now, the coin has settled for $100 less and is trading at approximately $6,800, suggesting that the currency is holding its ground, but has undoubtedly been affected by recent trends.<\/p>\n

\"\"<\/p>\n

The Slump is Far from Over<\/h2>\n
\"Verge\"
Related Story:\u00a0Introduction to Verge (XVG) \u2013 The Future of Privacy<\/a><\/figcaption><\/figure>\n

There appear to be several reasons for the latest drop, one being a hack that<\/a> occurred on Verge\u2019s blockchain.<\/p>\n

Verge<\/a> is a privacy-oriented cryptocurrency, and it\u2019s alleged that hackers may have implemented several bugs in its system to walk off with anywhere between $15,000 and $1 million in company coins (sources differ greatly in how much the amount totals).<\/p>\n

While the attack took place on an altcoin, the story raises several questions. Verge\u2019s blockchain requires a proof-of-work validation mechanism, much like Bitcoin<\/a> and Ethereum<\/a>, which makes users wonder if these latter blockchains are also vulnerable to similar bugs and malware.<\/p>\n

Larger news stemming from India likely took a larger toll on the coin\u2019s position and current pricing. The country\u2019s of India's Reserve Bank<\/a> has hinted that it plans to potentially ban Bitcoin trading on a whole while building its own digital currency. This has led to negative reactions among residents, who claim that a national virtual currency wouldn\u2019t necessarily be threatened by Bitcoin and other forms of crypto.<\/p>\n

The move could be especially damaging considering India accounts for roughly 10 percent of the world\u2019s cryptocurrency trades. A full ban on Bitcoin by India may wind up affecting not only users but the country\u2019s financial stability in the global blockchain market.<\/p>\n

Not Much Help from \u201cExperts\u201d<\/h2>\n

In addition, several other leading cryptocurrencies have also experienced serious drops in their prices. Ethereum<\/a> is down to about $380, while Bitcoin Cash<\/a> is hovering at just over $630. Ripple<\/a> is hovering around $0.50.\u00a0Litecoin<\/a> is trading at a new low of approximately $116.<\/p>\n

Thus far, we have experienced mixed reactions from analysts, some of whom claim Bitcoin could encounter a solid bull run<\/a> by the year\u2019s end. Others feel that the coin\u2019s final days are near, and the bubble surrounding Bitcoin has officially been popped<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

It has certainly been an up-and-down week for cryptocurrencies. Things started out relatively peaceful when allegations arose that the currency had somehow dominated its incoming \u201cdeath cross,\u201d and that the slump users had been witnessing over the past several days may be coming to end. This seemed to hold true when Bitcoin rose from $6,900 […]<\/p>\n","protected":false},"author":43,"featured_media":42689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,61045],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\nCrypto Week in Review: Bitcoin, Ethereum, Verge, Litecoin, Bitcoin Cash and Ripple Struggle<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/crypto-week-in-review-btc-eth-xvg-ltc-bch-xrp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Week in Review: Bitcoin, Ethereum, Verge, Litecoin, Bitcoin Cash and Ripple Struggle\" \/>\n<meta property=\"og:description\" content=\"It has certainly been an up-and-down week for cryptocurrencies. Things started out relatively peaceful when allegations arose that the currency had somehow dominated its incoming \u201cdeath cross,\u201d and that the slump users had been witnessing over the past several days may be coming to end. 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