Published On: Sun, Jul 24th, 2016

Bitcoin Price Falls as Altcoins Push Ahead

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The bitcoin price has undergone another drop. Hovering at around $658 at press time, this is a fall of about $8 since our previous price piece.
Also read: Is Ethereum Wounding the Bitcoin Price’s Ascent?
Altcoins Forge Ahead as Bitcoin Price Pulls Back
In our last discussion, the notion that ether was harming bitcoin’s ongoing rise was explained. That particular argument still stands; the most recent news is that Coinbase, primarily a bitcoin exchange up to this point, has now added Ethereum to the mix, and will offer ether-based services to its customers.
A Coinbase representative explained:
“Ethereum is pushing the digital currency ecosystem forward, and we are excited to support it as part of our mission to create an open financial system for the world.”
It’s possible that with ether’s sudden burst of force, bitcoin now has some distance to close. The two digital currencies do appear linked, particularly in past instances.
However, there’s another scenario to consider. As one source has pointed out, the G20 is currently preparing for a global economy meeting. Almost in anticipation of the summit, prices of several altcoins and cryptocurrencies have simultaneously …

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