Here's what happened this week in Bitcoin in 99 seconds.

The markets moved sharply down to a new low for 2018. The capital market of $ 212 billion dropped to $ 183 billion with Bitcoin falling to nearly $ 1,000. Ethereum has lost its second place in the ranking of market capitalizations in Ripple.

The messaging app Kik announced that it will migrate its ICO token, Kin, from Ethereum to the stellar blockchain. Kin has raised nearly $ 100 million in Ethereum tokens and cites Ethereum's scalability problems as the reason for the move.

Bitcoin Cash is forged with difficulty and many attribute the recent decline in market prices to this split. Bitcoin Cash ABC has the support of Bitmain's CEO, Jihan Wu, and the influencer, Roger Ver. The Bitcoin SV is backed by billionaire Calvin Ayre and the illustrious Craig Wright. It is not yet clear which part will be considered as the "true" Cash Bitcoin and will keep the symbol of the BCH ticker. Currently, ABC has the greatest support from exchanges and companies.

A Venezuelan bitcoiner revealed that one of the nation's department stores has begun to accept Bitcoin. The user, Vito, reports that Bitcoin is well known throughout the country and considered the preferred payment method for online work.

Finally, the SEC is studying the loan encryption service, Salt. The SEC is apparently looking at various aspects of the $ 50 million ICO process, mainly if it is an unregulated supply of securities.

This is what happened this week in Bitcoin. I'll see you next week.