Bitcoin Cash (BCH) markets have also seen better days and now, the price is hovering around $160-195 (depending on the exchange), but reached a low on Saturday night down to $177.
At the time of writing, Bitcoin is trading up marginally at its current price of $3,800, posting slight recoveries from this weekend's drop, where the cryptocurrency's price fell to new 2018 low in the $3,500 region.
Mr Greenspan, however, argued against linking bitcoin's market movements to what he believes are coincidental events in the cryptocurrency sphere.
Reaching the peak of 10,500 SAT price level was mind-blowing for traders and investors last week as XRP experienced a high trading volume ahead of Ethereum on the top market cap coins.
Billionaire SV representative Calvin Ayre, in a post on Coingeek, capitulated the ongoing conflict to Bitcoin ABC, claiming that their community "no longer [wants] the name Bitcoin Cash", and will move forward with an independent blockchain and version of their of network.More news: Trump administration asks Supreme Court to take up military transgender ban
More news: Chase Daniel slated to start for Bears, Mitch Trubisky listed as doubtful
More news: Doctor, Chicago police officer among dead after hospital shooting
Cryptocurrencies just had their worst week ever, and Bitcoin is 82 per cent below its high of US$19,666 nearly a year ago.
Bitcoin price declined heavily and traded below the $4,020 and $3,860 support levels. Known as the "honey badger" of money for good reason, the cryptocurrency has historically recovered from even bigger crashes of as much as 90% in the past. Following BTC's drop to these levels, it sharply bounced back to highs of $4,100, before falling back to $3,600. Currently, Bitcoin, Binance Coin, and Vechain are the top performing coins today in the cryptocurrency market.
"I don't know that this one specifically triggered the market sell-off - it was definitely one of the side stories among the many that may have influenced sentiment". In Pakistan, many startups were devising secure Bitcoin and other cryptocurrency wallets.
And it is hard to narrow in on what exactly makes tokens like bitcoin valuable in the first place because the field is "still under construction". The difference in market caps of both is quite low and EOS may likely surpass Bitcoin Cash in near future.
He said: "In crypto, these things are still being built - there is no industry standard. What is somebody willing to buy it for and what is somebody willing to sell it for?"
The main reason for the price spike in 2019 will be the entrance of more institutional investors in the space, Novogratz thinks.