Hi I'm Nate Martin from 99 bitcoins calm And here's what's happened this week in Bitcoin in 99 seconds bitcoins price Dipped to just below $6,000 on Tuesday Its lowest level since mid-november 2017 Tuesday was perhaps the highest volume Trading day since late 2015 Suggesting that sellers may have Offloaded their coins to a fresh wave of Buyers at a hearing held before the US Senate Banking Committee the chairman of The Securities and Exchange Commission Focused on the risks of unsound Cryptocurrency exchanges and fraudulent Icos on the other hand the chairman of The Commodity Futures Trading Commission Focused on the transformative potential Of cryptocurrency in general and Bitcoin In particular the general manager of the BIS an international bank controlled by 16 national central banks described Bitcoin as quote a combination of a Bubble Ponzi scheme and an environmental Disaster and quote on the other hand the President of the European Central Bank Said that EU banks may soon hold bitcoin Positions in the form of traditional Financial products based upon the Cryptocurrency coinbase announced that They would upgrade to seg wit during February implementing sedgwick should Have a great impact on reducing Transaction fees and the overall Congestion in the Bitcoin network
Finally crypto currency exchange bid Grail has reported a loss of 17 million Nano an altcoin formerly known as Rey Blocks at the time of the hack this Accounts for over a hundred and seventy Million dollars however conflicting Reports are surfacing with some Believing the exchange may have been Insolvent for a number of months that's What's happened this week in Bitcoin see You next week
