The past days were abnormally noisy in the cryptocurrency market.
This week has seen massive volatility, but this time Bitcoin is not the only currency in the spotlight.
As the Bitcoin currency fell slightly at the beginning of the week (December 21), the performance of Bitcoin can be likened to the arrow starting from the arc of arrows, where after this return it rose strongly and continues to break the records now at the time of writing this article, the record for Bitcoin has reached 28 thousand dollars (27700).
In the past two days, the bitcoin price appeared to be a bit inconclusive, but things changed quickly as the currency reached a new record high above $ 27,500.
And if someone thinks the run is over, then they are wrong.
Today, Bitcoin took another step and broke $ 27,500, hitting a new all-time high.
This week will go down in history not only because of Bitcoin, but because of the landmark lawsuit brought by the US Securities and Exchange Commission against one of the largest companies in the cryptocurrency space, Ripple.
A few days ago, the Securities and Exchange Commission filed formal charges with Ripple, claiming that it had made an unregistered offer of $ 1.3 billion of securities.
XRP immediately responded with a catastrophic drop of over 65%. As we mentioned earlier on Bitcoin Arabs.
Some trading platforms took immediate action and canceled ripple trading.
Since then, XRP has recovered a bit, but it still has a long way to go.
Even after recovering and rising above $ 0.30, it has retreated in the past few hours below this level.
This also took a lot of altcoins with it as most of them saw large double-digit losses over the past two days.
But the last two days brought with them much hope as most of the alternative currencies were able to regroup and recover, with the price of Ethereum again above the $ 600 level and approaching $ 650.
It is interesting to see how the market will develop from here because it is clear that the US Securities and Exchange Commission is not afraid to go after the biggest players in this area.