THELOGICALINDIAN - On Tuesday August 13 best agenda bill prices accept alone in amount amid 25 while crypto barter volumes globally accept collapsed to 46 billion in the aftermost 48 hours Despite the downturns beyond the lath bitcoin banknote BCH is captivation abiding up 2 today and now advantageous the fourth better bazaar valuation
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The Top Digital Currency Markets
Most crypto markets are in the red today as abounding accepted agenda assets accept absent a few credibility over the aftermost day. At the time of writing, the all-embracing bazaar assets is almost $286 billion. BTC prices are bottomward a blow over 3% this Tuesday as anniversary BTC is trading for $10,984. BTC does abduction 68% of the $286 billion with a bazaar appraisal of $196 billion this week. The cryptocurrency is bottomward 6.6% over the aftermost seven canicule and has about $15.1 billion in all-around trading volume.
Behind BTC is ETH which has alone added than 3% today as anniversary ETH is swapping for $205. Ethereum markets accept a appraisal of about $22 billion in absolute and there’s almost $5.6 billion in ETH trades worldwide. Ripple (XRP) has been acutely arid but alone from $0.32 to $0.29, accident 2% in the aftermost 24 hours. Lastly, litecoin (LTC) has apparent the affliction of the declines this week, accident added than 10.9%. Anniversary LTC is swapping for $84 per bread and markets are bottomward 2.5% on August 13.
Bitcoin Cash Fundamentals Look Bullish
Bitcoin banknote (BCH) markets are arch the top 10 crypto backpack as BCH has acquired 2.17% in the aftermost 24 hours. BCH is trading for $337 per bread and the cryptocurrency’s bazaar assets today is almost $6 billion. There’s 1.27 billion in all-around BCH trades and bitcoin banknote currently holds the sixth better barter volume. The top brace traded with bitcoin banknote is binding (USDT) which has about 48.7% of all BCH trades today.
This is followed by BTC (32%), USD (9.4%), ETH (6.4%), and KRW (2%). The exchanges swapping the best BCH accommodate Coinbene, Huobi Pro, Huobi Korea, Huobi Japan, and the trading belvedere EXX. Many traders accept noticed that BCH has outperformed a agglomeration of added agenda assets this accomplished week, spiking added than 10% on Sunday. The able-bodied accepted agenda bill banker Don Alt explained that bitcoin banknote may see a amount countdown soon. On August 11, Don Alt tweeted:
Goldman Charts Indicate a BTC/USD Rally Toward $14K
A alternation of BTC/USD chart slides stemming from Goldman Sachs advance that the accepted BTC amount dip could be a affairs befalling for investors. The slides were created for institutional audience and adumbrated there was a achievability BTC could blow $13,971 per coin. “Any such retracement from $12,916-$13,971 should be beheld as an befalling to buy on weakness as continued as it doesn’t amend added than the $9,084 low,” one accelerate details. The Goldman Sachs analyst acclimated an Elliott Beachcomber analysis, a apparatus that attempts to locate bazaar cycles and trends in beachcomber patterns. However, critics of the Elliott Beachcomber assumption accept the blueprint analysis is too ample and ambiguous due to the actuality that it’s actual difficult to admit the alpha and end of anniversary wave.
SEC Postpones Three Exchange Traded Funds
The BTC/USD amount started averseness afterwards the U.S. Securities and Exchange Commission (SEC) delayed the Vaneck Solidx Bitcoin Trust, Wilshire Phoenix, and the Bitwise Bitcoin ETF Trust. Almost anon afterwards the advertisement from the U.S. regulator, BTC/USD prices biconcave from a aerial of $11,560 to $11,350 on Monday. Reports acknowledge that the Wilshire Phoenix angle accommodation may appear on September 29, while the Vaneck Solidx Bitcoin Trust could be fabricated in mid-October.
The regulator has delayed Bitcoin exchange-traded funds (ETF) for years starting with the Bitcoin ETF backed by the Winklevoss twins. Speaking during the Bakkt Digital Asset Conference, SEC abettor Hester Peirce told the army that regulators are annealed adjoin the crypto industry because regulators are the ones who get the accusation back things go wrong. “It is actual accustomed for regulators to be bourgeois because if we accomplish a aberration again bodies are activity to accusation us and I apperceive if bodies lose money, they consistently accusation the regulator,” Peirce told the crowd.
Crypto Price Downturn Could Last Much Longer
According to the accepted banker Cryptowolf, if the accepted BTC/USD amount follows actual abstracts the accepted alteration could continue. BTC prices accept bootless to breach the aerial attrition aloft the $12K arena over the aftermost two weeks. Cryptowolf says the accepted alteration will alone aftermost six and a bisected weeks if prices chase actual data. “One of the affidavit I don’t apprehend a new aerial anytime anon in bitcoin is the abridgement of time in this correction,” the banker remarked on Sunday. “History has accurate that every changeabout assemblage was again followed by a alteration of 189 – 203 canicule afore breaking its antecedent aerial — Currently at alone 45 canicule correction.” If the analyst’s timeframe correlates with above-mentioned prices, it started above the $12K rejections this ages as BTC/USD chock-full abbreviate aloof afore the $14K area at the end of June.
Trade Wars, Faltering Debt and Hyperinflation Could Pose Systemic Risk to the Global Economy
Overall agenda bill prices are still captivation able as the world’s bread-and-butter woes abide to grow. Fears of a abysmal recession accept started to attending assertive as accurate regions affectation a systemic accident to the all-around economy. There’s all-overs over a no-deal Brexit amid the U.K. and the Eurozone as able-bodied as a adventitious that Italy could carelessness the budgetary system.
Economists are award that Hong Kong is not alone adversity from the U.S.-China barter war, but the protests are abolition the country’s businesses as well. On August 12, the country’s best accepted airport abeyant all flights because protestors brought the all-embracing biking hub to a standstill. The airport in Hong Kong is one of the busiest common with added than 1,100 circadian flights. Reports detail that over 700 protestors accept been arrested for “taking allotment in a riot” and actionable assembly.
Meanwhile, all eyes are on the German economy this anniversary area economists and abstracts acknowledge a looming recession. Abstracts accepted this anniversary will appearance how the country’s abridgement performed during the aboriginal two abode of 2019. Additionally, while the apple was focused on the 10,000,000% aggrandizement amount in Venezuela, bodies are now watching the bread-and-butter anarchy in Argentina. With all of the all-around fears growing, beyond atom gold prices accept affected best highs aloft $1,500 per ounce. Despite the 45-day continued correction, with the all-around abridgement in disarray, cryptocurrency bazaar prices abide strong.
Where do you see the cryptocurrency markets branch from here? Let us apperceive what you anticipate about this accountable in the comments area below.
Disclaimer: Price accessories and markets updates are advised for advisory purposes alone and should not to be advised as trading advice. Neither Bitcoin.com nor the columnist is amenable for any losses or gains, as the ultimate accommodation to conduct a barter is fabricated by the reader. Always bethink that alone those in ascendancy of the clandestine keys are in ascendancy of the “money.” Cryptocurrency and gold prices referenced in this commodity were recorded at 12 p.m. EST on Tuesday, August 13, 2019.
Images via Shutterstock, Trading View, Bitcoin.com Markets, Getty, Goldprice.org, Wiki Commons, and Pixabay.
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