After what appeared to be another stable price point for Bitcoin, the digital currency saw losses as of Sunday, January 20. Bitcoin (BTC) had reached as high as $3,750 just a day ago, before falling by over $200. The latest price drops come despite positive news in terms of regulation and distribution for cryptocurrency.
According to Cointelegraph, Bitcoin and the top cryptocurrencies saw “moderate to severe losses” on Sunday. Bitcoin was down to $3,550 or lower, which signaled a drop of nearly 5 percent in the past 24 hours. Ethereum saw a near five percent drop as well down to $119.25 at the time of Cointelegraph’s report. Litecoin (LTC) had fallen over five percent to a price of just below $31.
In fact, all 20 of the top cryptocurrencies were showing losses on Sunday. Stellar was down nearly six percent, while NEO and Dash were each down over six percent in the past 24 hours. Cointelegraph noted that IOTA was down nearly seven percent as one of the top losers for all 20 cryptos. NEO, Cardano, and Bitcoin Cash (BCH) were also mentioned as some of the biggest percentage losers for the past 24 hours.
It’s also worth mentioning that the combined market capitalization for all cryptocurrency is about $119.7 billion. One week ago it’s value was $122.5 billion.
While there are still doubts as to the usefulness of Bitcoin or that the value will ever rise to the heights seen in 2018, it’s still becoming more mainstream. Other recent news reports involve the use of ATMs that offer Bitcoin or BTMs specifically for Bitcoin.
A report via Bitcoinist indicates that Auscoin, an Australian Bitcoin ATM company is generating a nice weekly turnover from their machines. Auscoin founder Sam Karagiozis indicated they have “32 Auscoin ATMs in Australia… and our turnover is $500,000.” That’s roughly $360,000 US dollars.
That report comes in days after reports that a new partnership involving Coinme and Coinstar was in effect to make Bitcoin ATMs (BTMs) available in grocery stores at coin-counting kiosks. As TechCrunch mentioned, Coinme, a startup which has a network of cryptocurrency-dispensing ATMs, currently has their machines in 11 states. There are plans to offer “thousands of places” where customers can purchase Bitcoin in the future.
In addition, the U.S. state of Wyoming is looking to classify cryptocurrencies with a bill introduced on Jan. 18. The state also passed two other new bills in the house that will help to regulate cryptocurrency as well as “blockchain innovation.”
