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Bitcoin Plummets to $7,000 Despite Major Announcement

Published 08/06/2018, 05:15 AM
Updated 08/06/2018, 06:20 AM
 Bitcoin Plummets to $7,000 Despite Major Announcement

Bitcoin and most altcoins lost ground during this weekend’s trading. The drop occurred as if the markets ignored Friday’s major news release regarding a new trading platform. Intercontinental Exchange, a leading international exchange operator that owns the New York Stock Exchange, revealed its plans to launch a crypto platform called Bakkt. This platform will be a legally compliant trading venue, offering physical Bitcoin delivery on futures contracts. Microsoft (NASDAQ:MSFT) and Starbucks (NASDAQ:SBUX) are among the key partners.

Once the story broke, we saw a positive tone across the board, with a lot of coins returning earlier losses. The enthusiastic run fizzled rather quickly and a decline in trading volumes (along with prices) followed.


This article appeared first on Cryptovest

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