{"id":43279,"date":"2018-04-09T19:30:10","date_gmt":"2018-04-10T02:30:10","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=43279"},"modified":"2026-04-16T16:52:14","modified_gmt":"2026-04-16T15:52:14","slug":"crypto-price-watch-bitcoin-ethereum-bitcoin-cash","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-price-watch-bitcoin-ethereum-bitcoin-cash\/","title":{"rendered":"Crypto Price Watch: Bitcoin, Ethereum, Bitcoin Cash Incur Sudden Drops"},"content":{"rendered":"

We have started a new week, and it looks many cryptocurrencies are starting it in the red. Though\u00a0Bitcoin<\/a> did manage to hit the $7,000 mark over the weekend, it has seemingly fallen by over $200 and is now trading for roughly $6,700.<\/p>\n

\"Bitcoin
The price of BItcoin<\/a> was holding steady above $7,000 for most of the weekend before plunging down to $6700 late Sunday night.<\/figcaption><\/figure>\n

Joining Bitcoin is Ethereum<\/a>, which is down nearly 2.5 percent and is hovering at around $391 at press time. Ripple<\/a> has fallen by three percent, and stands at just over $0.40, while Bitcoin Cash<\/a> and Litecoin<\/a> are down by over three percent each, and sit at $637 and $114 respectively.<\/p>\n

April 7th through the 8th\u00a0did<\/em> see cryptocurrency experiencing a few substantial rises, thus teasing users of a potential bull run. Bitcoin had jumped to $7,000 following its previous trading stance of $6,600 following news that the famous Rockefeller family would be investing in cryptocurrencies and getting in on the action.<\/p>\n

Institutional Adoption<\/h2>\n

Specifically, Venrock \u2013 the venture capital firm of The Rockefeller Foundation \u2013 explained that it was partnering with Coinfund<\/a>, a private crypto-asset investor, and blockchain research advisory firm.<\/p>\n

\"\"
Related Story:\u00a0Bitcoin Drops Back Below $7000 As Institutional Money Continues to Flow In<\/a><\/figcaption><\/figure>\n

The news followed an announcement by the head of Soros Fund Management that the company had recently garnered permission to begin trading cryptocurrencies within the next few months.<\/p>\n

George Soros<\/a> has often referred to bitcoin as a \u201cbubble,\u201d and rejected any potential notions of legitimacy.<\/p>\n

As one of the world\u2019s wealthiest hedge fund managers, his sudden change of heart was a welcomed move in an industry that has been suffering heavily since January.<\/p>\n

India Not Banning Cryptocurrencies<\/h2>\n

Also, it was discovered that India was not banning cryptocurrencies<\/a> as so widely reported before, but it was<\/em> making it harder to use them.<\/p>\n

\"\"
Related Story:\u00a0India Restricts Cryptocurrency in Favor of Own State-Backed Crypto<\/a><\/figcaption><\/figure>\n

India\u2019s Reserve Bank had recently stated that it would no longer support businesses that dealt in or traded cryptocurrencies, and it was ordering all neighboring banks to do the same.<\/p>\n

As banks in India fall under the organization\u2019s power, they were given no choice but to adhere to the demand.<\/p>\n

However, where reporters likely had the wrong idea is that for the country to entirely ban crypto-trading, an order would have to be issued either by a central or state governing body or by the country\u2019s judicial branch. RBI does not fall into any of these categories.<\/p>\n

Thus, while digital currency ventures can no longer rely on Indian banks to complete financial transactions, the process of trading crypto can continue granted the government stays open to it.<\/p>\n

\"Ethereum
Ethereum<\/a> hit a high of $430 over the past 24 hours before consolidating around the $400 level.<\/figcaption><\/figure>\n

Though ether has ultimately fallen back in the last 24 hours, the currency did allegedly spike enough to graze the $430 level. Ethereum blockchain developers recently rejected the notion of implementing a hard fork<\/a>\u00a0over ASIC mining rigs.<\/p>\n

Presently, the situation is not considered a massive threat, though users should not be surprised if this issue is touched upon again in the coming months. Resistance also proved to be too strong for Ethereum's current taste, which accounts for the coin\u2019s lower trading price.<\/p>\n

\"Bitcoin
Over the past 24 hours, Bitcoin Cash<\/a> was trading at a high of $680 before consolidating around the $630 level.<\/figcaption><\/figure>\n

Ironically, it appears Bitcoin Cash was trading for as high as $679 during the early morning hours of April 9, though Twitter\u2019s closing of the promotional @Bitcoin account<\/a> may have had something to do with the subsequent drop.<\/p>\n","protected":false},"excerpt":{"rendered":"

We have started a new week, and it looks many cryptocurrencies are starting it in the red. Though\u00a0Bitcoin did manage to hit the $7,000 mark over the weekend, it has seemingly fallen by over $200 and is now trading for roughly $6,700. Joining Bitcoin is Ethereum, which is down nearly 2.5 percent and is hovering […]<\/p>\n","protected":false},"author":43,"featured_media":43373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nCrypto Price Watch: Bitcoin, Ethereum, Bitcoin Cash Incur Sudden Drops<\/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-price-watch-bitcoin-ethereum-bitcoin-cash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Price Watch: Bitcoin, Ethereum, Bitcoin Cash Incur Sudden Drops\" \/>\n<meta property=\"og:description\" content=\"We have started a new week, and it looks many cryptocurrencies are starting it in the red. 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