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Over the past month, the cryptocurrency market has experienced one if its worst sell-offs in all of 2018 as the price of Bitcoin dropped 35 percent. Jake Chervinsky, a government enforcement defense and securities litigation attorney at Kobre & Kim, suggested that while retail traders or individual investors are selling in the cryptocurrency exchange market,
The post Are Institutional Investors Accumulating Bitcoin While Retailers Panic? appeared first on CCN
Last week, cryptocurrency researcher Kevin Rooke questioned the ability of Ethereum and EOS to support decentralized applications (dApps), given the dearth of users on those blockchains. Now he’s wondering if most cryptocurrencies are getting enough use. He recently observed in a tweet that only 27 cyrptocurrency tokens had 400 or more active users in a
The post Weak User Counts Signal ‘Panic Sell’ For Most Cryptocurrency Tokens: Researcher appeared first on CCN
Now that the cryptocurrency momentum is slowly turning against Bitcoin and altcoins again, it will be interesting to see how all markets respond. As is to be expected, the initial response is not promising. The Bytecoin price, for example, is almost down by 8.5% already as holders are cashing out in quick succession.
Bytecoin Price Takes a Small Dump
It is not unsurprising to see alternative currencies give up ground in both USD and BTC value when the value of Bitcoin starts to slip. Investor and speculators will hedge their losses and take whatever profits they can to ensure no real losses are recorded in the end. In the case of the Bytecoin price, the momentum is souring fairly quickly.
The current cryptocurrency market momentum doesn’t look all that promising. There have been numerous setbacks over the past 24 hours, mainly because of the SEC deciding to delay another Bitcoin ETF verdict. For the Bitcoin Cash price, it has triggered a massive value decline, as the current seems to be heading below $ 600.
Bitcoin Cash Price Crashes Hard
Every single time the Bitcoin price is suffering from a big decline, it is a matter of time until altcoins feel similar pressure. This has been an ongoing trend for quite some time now, and it seems the situation will not improve anytime soon For the Bitcoin Cash price, this latest setback has been a rather steep as, as its value is on the verge of dropping below $ 600.
It is one of those days again where no cryptocurrency market momentum seems to make sense. All markets are in the dirt once again for no apparent reason, with the IOTA price losing a lot of value in the past 24 hours. With a 145% setback in the past 24 hours, it is evident there will be a lot more blood in the water by the time this day is over.
It can be challenging enough to keep up with the fast-paced world of cryptocurrencies and their price fluctuations. The challenges can be compounded when you cannot find a consistent source for these prices and the vital statistics used to make informed trading decisions.
Following a frenzy of activity over the weekend which pushed the total crypto market capacity over $ 800 billion and shut down several exchanges to new users, analytics website CoinMarketCap arbitrarily decided not to include data from South Korean exchanges.