This Week in Cryptocurrency: May 17th, 2019

Outside of a substantial pullback in the past 24 hours, cryptocurrency markets experienced considerable gains over the last week.

On the week, Bitcoin is up 13%, Ethereum up 34%, XRP up 24%, Binance Coin up 27%, Stellar up 31%, Monero up 18%, IOTA up 35%, NEM exploded 72%, Verge up 38%, and most other tokens were up double-digit percentages.

The cause of growth, however, isn’t certain. Some hypothesize the spike was due to the traditional New York Blockchain Week spike, others put on their make-believe economist hat and argued it was due to the escalating trade war between the United States and China, whereas some credited Facebook’s potential stablecoin.

Bitcoin ETFs on the Horizon?: On Monday, SEC Commissioner Hester Peirce spoke about the current regulatory climate for Bitcoin ETFs, highlighting her dissatisfaction with the SEC’s lack of regulatory frameworks for cryptocurrency. SHe was quoted saying “I thought the time was right a year ago — even longer than that … My first chance to comment on it was a year…

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Source: https://thebitcoinnews.com/this-week-in-cryptocurrency-may-17th-2019/