01.22, Price Analysis: BTC, ETH, VEN, BCC

Here’s another look at the past week in cryptocurrency. We’ll look at the current prices of the best-known cryptocurrencies as well as some lesser-known cryptos. We also couldn’t resist mentioning Bitconnect’s dramatic collapse. This week we’ll look at two cryptocurrencies next to Bitcoin and Ethereum. Vechain had a surprisingly good week, while Bitconnect had a sudden (but not unexpected) demise. Last week most of the crypto market panicked as South Korean officials confused the world with conflicting and vague language. Ban? No ban? Who knew? China was less vague, however, banning domestic cryptocurrency exchanges. Crypto investors triggered a sell-off and the capitalization of the entire market fell from USD 700 billion to USD 425 billion. Bitcoin Bitcoin felt the effects of last week’s correction extremely strongly. From January 15th to 17th teh price fell from $14,500 to just $9,500. The value of the biggest currency was not able to fully recover the losses from the Christmas correction, and it faced further drops. In addition to the situation on the Korean market mentioned above, the upcoming Chinese New Year and expiring futures contracts may also be responsible for this. BTC capitalization fell below $200 billion BTC price – $11,500 Huge price falls in the first half of the week, The CEO of Visa said that Bitcoin is not a payment system. Ethereum Ethereum, like Bitcoin, underwent a strong correction between the 16 and 17 January. ETH  fell from $1300 to $790 at the lowest point. After this drastic decline, the second largest crypto has made up part of its losses to stabilize at around $1000, ETH’s capitalization is still over $100 billion, more than half of the current BTC capitalization. The price stabilized after adjustment, capitalization of $102 billion, VeChain VEN as one of the few cryptos that rose very quickly after the correction from the beginning of the week. Immediately after finishing the price drops to $3.60, VeChain started a rapid and dynamic growth to the level of the new ATH, $9.55. VeChain has recently attracted a lot of attention, especially among Reddit users. Information about the development of the team, partnerships and new achievements has a positive impact on the development of the project. The partnership with PwC seems particularly positive. BitConnect BitConnect was accused by many members of the community of operating a Ponzi scheme. The last weeks have been very difficult for the coin connected with the controversial platform. After several cease and desist orders from US states, and the dramatic drops Bitcoin’s price, BitConnect folded. The market reacted immediately and within a few hours the BCC price fell from $215 to $20! $1.5 billion in market capitalization has changed to $46 million. Currently, the coin has lost almost all of its value. Interestingly, after falling to $6 per unit on January 17th, BCC rose to $70 in the short term. Information about closing the platform Loss of 90% of the value by BCC Worrying reports about the new ICO of BitConnect creators