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Bitcoin Remains Over $5,600 - October 20th Cryptocurrency News

663 views · Published 20 October 2017 · 2:32 · Indexed 1 November 2026

Channel: NEWSBTC · 2017 · People & Blogs

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Let’s take a little look back at Bitcoin’s performance over the past few days. Bitcoin climbed over $5,800 on Sunday, on Tuesday it fell below $5,500, late the very same day it climbed all the way to $5,800. It then fell to around $5,200. Bitcoin then regained its strength, today it remains over $5,600. Ethereum fell to $322 on Sunday, it then climbed close to $350 on Monday. Ethereum then fell all the way below $300 on Wednesday. It currently remains just over $300. Ripple, the third largest cryptocurrency by market cap started the work on a strong note, as Ripples Swell conference kicked off in Toronto. Investors seemed to be hoping for some news or major announcements but after the first day Ripples cryptocurrency started its path of decline. Moving over to Bitcoin Cash, it climbed closer to $400 on Tuesday, but on Wednesday it plummeted to around $314, it is currently around $330. 

Let’s take a look at some recent comments about the cryptocurrency world. Mark Cuban told Vanity Fair that his advice is to put your savings into "the cheapest SPX mutual fund you can find, but if you're a true adventurer and you really want to throw the Hail Mary, you might take 10 percent [of your savings] and put it in bitcoin or ethereum.” 

The ECB’s Mario Draghi is more cautious about the cryptocurrency world. In September he rejected Estonia’s idea for a cryptocurrency. According to CNBC, Mario Draghi stated at a press conference recently, ”With anything that's new, people have great expectations and also great uncertainty. Right now we think that especially as far as bitcoins and cryptocurrencies are concerned, we don't think the technology is mature for our consideration”.

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