Hey ninjas, how’s the trading going? A statement was published by the German Federal parliament on the 28th of October stating that cryptocurrencies such as Bitcoin are not real money. According to the announcement cryptocurrencies such as Bitcoin provide only a limited portion of the features of traditional fiat currencies.
The announcement lists the basic features of traditional money as exchange and means of payment, the unit of account and store of value and also points out that the volume of payments done using cryptocurrencies such as Bitcoin is very limited compared to traditional money.
Since Bitcoin achieved its highest point of the month trading over $10,000 on the 25th of October, the Bitcoin price appears to have stabilized trading above $9,000. On the day, BTC is trading at $9,364 and is reporting 1% losses. Bitcoin's market cap value is over $168 billion at press time.
Ethereum, the largest altcoin and second-largest cryptocurrency by market cap are reporting gains in the last 24 hours. Ether is up 2.86% on the day and is currently trading at $186 at press time. Ether reached its highest point of trade yesterday trading at $188.
The second-largest altcoin XRP is also reporting gains in the last 24 hours. XRP is trading at $0.30 and is up 1% on the day. XRP market cap value is over $12 billion at press time.