It hasn’t been the best month for cryptocurrencies, with the market shedding as much as $ 50 billion in the first two weeks of September alone. For some like Ethereum, the month has been outright brutal, with the most valuable altcoin registering its lowest price of the year at just over $ 170. However, the trend is slowly reversing and the market is seeing consistent green, with most cryptos regaining much of the value lost in the past two weeks. Ethereum has been among the biggest gainers, registering a 10 percent gain in the past two days to trade at $ 223 at press time. Bitcoin has held steady over $ 6,500 over the past two days for the first time in the past week, with other altcoins such as Tezos, EOS, NEM and Monero also registering notable gains to take the total market capitalization above $ 200 billion.
Cryptocurrency prices are back on the mend after a great majority of digital assets plunged last week losing 10-20 percent or more in value. Since then, the digital currency economy has regained some strength bouncing back from a low of US$ 186 billion to $ 205 billion on Saturday, September 15.
US regulatory authority approves BitGo for the status of a custodian for crypto and the market is booming during positive news.
The digital currency security startup BitGo has been granted approval of a custodian for crypto and other virtual assets after the company put in a request for permission to act as a digital asset custodian. The company will bring its clients the offer for a regulated custody solution made with their crypto investments specifically in mind.
The crypto market has demonstrated a short-term corrective rally in the past 24 hours, after major assets like Ethereum showed strong oversold conditions. ETH, the native cryptocurrency of the Ethereum blockchain network, has been on an intensified downtrend since June, performing especially poorly against Bitcoin. On September 13, ETH has shown resilience in the sub-$ 200
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Bitcoin could be in for a decent corrective rally if prices find acceptance above the key resistance of $ 6,400.
Bitcoin has found stability in the low range of $ 6,300 to $ 6,400, demonstrating decent volume at around $ 3.8 billion and pushing its dominance index to 56.1 percent. Well performing tokens including WanChain, VeChain, Decentraland, and Waltonchain have recorded large losses against the US dollar in the range of 5 to 10 percent, mostly likely due
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Bitcoin’s recovery from 25-day lows near $ 6,100 is likely a “dead cat bounce” rather than a bullish reversal, charts suggest.
Bitcoin’s short-lived corrective rally reinforces the bearish outlook put forward by the technical charts and indicates scope for a drop to $ 6,000.
Throughout today, the markets have finally started making positive movements, off the back of what thus far has been a very positive week. Granted, as we write this things could change and by the time you get to read this, Bitcoin could be back to $ 6,500.00. This is the beauty of cryptocurrency though.
Also, we highly doubt Bitcoin is going to drop to $ 6,500.00 any time soon considering it’s current, optimistic progression.
Overall today the markets have flown high and many cryptocurrencies have made tracks back to target figures that could prove to be very fruitful in any future bull runs or surges that could take place in September.
In the past 24 hours, the Bitcoin price has increased from $ 6,400 to $ 6,700, recording a decent increase in its daily volume. The valuation of the crypto market has increased from $ 210 billion to $ 215 billion within a two-day period, fueled by the short-term surge in the price of tokens. Ethereum-based tokens like Wanchain, Aion,
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VeChain (VEN) has just broken out of a falling wedge against the US Dollar as can be seen on the VEN/USD daily chat above. The price has yet to test the bottom of the descending channel it has been trading in since the beginning of the year. However, technical indicators at this point indicate a rally from these levels towards the top of the descending channel. Squeeze momentum indicator on the above chart shows a declining bearish momentum since March.
The vechain price (VET/VEN) rose nearly 10 percent on Tuesday, even as the wider cryptocurrency market struggled just to tread water amidst declining trading volume. VeChain Price Doubles in Just One Week The cryptocurrency, the native token of the eponymous IoT-focused VeChain platform, has been one of the market’s top performers in August, as CCN
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The crypto market has continued its recovery over the past 24 hours, as both major cryptocurrencies and tokens continued to surge in value. While Bitcoin remained relatively stable with a 1 percent gain, Ethereum, Ripple, Bitcoin Cash, and EOS recorded 4 percent, 9 percent, 8 percent, and 11 percent gains respectively, pushing the valuation of
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This afternoon, the markets have made way to a gentle recovery after a week of devastating falls. Overall, the value of many major cryptocurrencies has sunk, bottoms have been found and the entire community has been left a little exhausted. The recovery through the afternoon hasn’t brought with it anything significant in the top end of the markets, but, many altcoins have actually relished in some glory during this time.
Whilst Bitcoins recovery is barely noticeable, cryptos like VeChain, PundiX and Ontology have risen dramatically over the past 24 hours, in some cases marking up to 50% gains.
The vechain price (VET) exploded by 30 percent on Thursday, headlining a widespread recovery that raised the cryptocurrency market cap by more than $ 5 billion over the past 24 hours. The cryptocurrency, which serves as the native token of the smart contracts and supply chain management-focused VeChain blockchain, had traded below $ 0.008 during Thursday’s early
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Following a disastrous security breach in June that led to losses of more than $ 30 million, Korean cryptocurrency exchange giant Bithumb has announced that it is set to resume deposit and withdrawal services on its platform. The announcement, which was made earlier today on Twitter, revealed that the services would be restored on August 4, 2018, at 11 a.m. KST.
Suspension and Maintenance
In June 2018, following the much-publicized hack that led to the hot-wallet theft, the platform temporarily disabled all currency transaction capabilities. Funds were hurriedly moved into cold storage wallets, and a moratorium was placed on all deposit and withdrawal services. The platform then announced some maintenance periods and security reviews, which led to significant downtime through much of July, although trading activities continued in between downtime periods.
Bitcoin will likely drop below $ 6,000 this week, with bearish indicators still littering short- and long-term charts.
Bitcoin is still in recovery mode, but the bulls must keep prices above key support to maintain momentum.
It would appear another major price reversal looms on the horizon for all major cryptocurrencies. After a very rough period over the past few days, most of the markets are on the road to recovery. The XRP price is leading the charge among top 10 currencies with a solid 2.54% increase. If this trend keeps up, things will certainly get pretty interesting moving forward.
XRP Price Trend Gives Hope
With another battering taking place across all cryptocurrency markets over the past few days, few people had expected any positive momentum to come out of it so soon. In the case of the XRP price, the going has been tough these past few days. This is on par with all other major cryptocurrencies, for rather obvious reasons.
Bitcoin has jumped another $ 300. Following yesterday’s slight drop to $ 8,000 from $ 8,100, the currency has incurred another impressive hike and now sits within the $ 8,300 range.
Thus far, everything analysts have predicted regarding bitcoin’s behavior in the 2018 second quarter is coming true. The coin saw a massive price jump of roughly $ 1,200 between April 11 – 13, and the price has stayed strong ever since, and while one could argue that we have only reached the weekend, present indicators suggest that the price rise is not a fluke, and may continue in the coming weeks.