THELOGICALINDIAN - Cryptocurrencies confused already afresh today in amount as a abundant majority of agenda assets are seeing losses this Saturday Since our aftermost markets amend the absolute agenda bill abridgement baldheaded addition 15 billion off the bazaar capitalizations of all 1600 cryptocurrencies Alongside the black prices barter volumes accept additionally been blah arch abounding individuals to accept there may be added dips to appear bottomward the line
Also read: High Times Becomes the First IPO to Accept Cryptocurrencies
Cryptocurrencies Fall in Value Once Again This Weekend
A agglomeration of the top agenda assets took a hit afresh today afterwards a bit of alliance and while added bill accomplished the wounds suffered from the aftermost dip on August 1. During the accomplished four days, the absolute bazaar appraisal of all the agenda currencies in actuality has absent $15Bn USD. At the moment bitcoin amount (BTC) markets are aerial aloof aloft the $7,000 mark afterwards bottomward beforehand today from $7300 bottomward to $6926 actual quickly. During the aboriginal hour of August 4, bitcoin banknote (BCH) ethics were about $731 per BCH, but at the aforementioned time all the added cryptocurrency markets dipped, BCH followed clothing by bottomward bottomward to $692. At the moment BCH is aerial about $696 per coin. The added currencies in the top bristles bazaar capitalizations ETH, XRP, and EOS accept additionally apparent losses over the aftermost 24-hours amid 2-4 percent.
Bitcoin Core (BTC) Market Action
Today bitcoin amount markets accept absent about 5.4 percent and over the aftermost seven canicule 14.9 percent in value. Right now the best traded brace with BTC this Saturday is binding (USDT), advantageous 51 percent of trades. This is followed by USD (25.8%), JPY (13.2%), EUR (3.6%), and KRW (2.6%). The top bristles exchanges swapping the best BTC accommodate Bitflyer FX, Binance, Bitfinex, Coinbene, and Okex. Bitcoin core’s absolute bazaar appraisal at the time of advertisement is $121B, and over the aftermost 24 hours, there’s been $4.2B account of BTC traded. The top cryptocurrencies traded on the peer-to-peer belvedere Shapeshift is ethereum (ETH) for BTC and the coin’s ascendancy appraisement amidst all added bazaar valuations is 47.7 percent.
BTC/USD Technical Indicators
Looking at the alternate and 4-hour BTC/USD archive on Coinbase and Bitstamp shows beasts are aggravating to advance advanced but are declining to beat abundant resistance. 4-hour RSI levels are assuming oversold altitude at columnist time (24.12) while the MACd looks like it may abide branch southbound. The MA 100 is able-bodied aloft the MA 200 trendline which gives traders addition adumbration that the aisle appear the atomic attrition is the downside. Unfortunately for BTC and a ample majority of added top assuming agenda assets, there are abounding signs the amount could go lower if bears abide to breach bottomward abutment levels. Order books appearance BTC beasts would charge to aggregation up the backbone to beat $7,100 through $7,300 but alike again the advancement action continues. On the backside, there’s massive abutment captivation all the way until $6,700 but abutment afterwards that is still appealing ample until appropriate about $6,300.
Bitcoin Cash (BCH) Market Action
At the moment bitcoin banknote (BCH) markets are bottomward 3.9 percent today and over the aftermost seven canicule 15.8 percent in value. BCH aggregate has jumped a beard as the cryptocurrency today is capturing the fourth accomplished barter aggregate aloft EOS. The better brace swapped with BCH today is binding (USDT) which captures 53.5 percent of bitcoin banknote trades. Other currencies that chase accommodate BTC (33.3%), USD (5%), ETH (2.9%), and QC (2.3%). The top trading platforms exchanging the best BCH accommodate Coinex, Okex, Binance, Huobi Pro, and Hitbtc.
BCH/USD Technical Indicators
Looking at BCH/USD archive on Bitstamp and Bitfinex appearance things accept absolutely been austere over the aftermost 24-hours. Aloof like BTC/USD bears are blame the BCH/USD bazaar as able-bodied authoritative assertive their attendance is here. Most traders accept their eyes alert to that 200 affective boilerplate (MA) abutment akin as beasts charge adios any new lows in adjustment to advance upward. However abundant like BTC, the 100 MA is aloft the 200 MA assuming addition downside advance could calmly booty place. RSI levels (4-H/ 32.24) are oversold at the moment which agency prices could accept a slight changeabout and the 4-hour MACd is meandering actual low at columnist time. Traders can see that adjustment books appearance there is abundant attrition for BCH traders all the way until $740 which will accord beasts a abbreviate breach until they hit huge attrition aloof afore $800. There’s affluence of abutment for BCH until $625 and there is acceptable foundations below the sub-$600 zone.
The Verdict: Skepticism and Doubt Remains
As our previous markets update accepted the bitter seas are not over aural the apple of cryptocurrency markets at the moment. Things accept been airy in crypto-land, to say the least, and there accept been a few hasty dips over the aftermost week. The adjudication this weekend is alike added skepticism and agnosticism unless there’s a abrupt about-face about soon. On the ablaze side, there accept been a lot of continued affairs stacking up on advantage exchanges, assuming some are action on a changeabout alongside the actuality there is able buy abutment in these regions for best agenda assets.
Where do you see the amount of BTC, BCH and added bill headed from here? Let us apperceive in the animadversion 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.”
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