Having hit $4,000 for the first time for six weeks on expectations that the US Securities and Exchange Commission will soon approve investment vehicles, which would broaden Bitcoin’s appeal, the number one crypto assets rebounded on Wednesday…
Bitcoin keeps to $6,500
On Monday, key crypto assets nearly stood still.
The leading crypto asset, Bitcoin that accounts nearly 52% of the overall share of crypto assets, didn’t change, sticking with $6,500. The currency pair BTC/USD demonstrated a reading of $6,567.93 on the Kraken exchange, tacking on by 0.1%.
Bitcoin bulls demonstrated renewed optimism built around seasonality patterns, although some experts stress that there’s no quick-fix to pull crypto assets out of their bear markets now.
Considering the technical damage, which has occurred this year, market experts actually expect the vast majority of crypto assets will probably need months of recover before a new bullish trend can show up, as some financial analysts pointed out.
They added that the first step in the proper direction for the number one crypto asset is the September maximum above $7,400 that is still nearly 13% away from current values.
In the third-quarter of this year, Bitcoin along with XRP turned out to be the only key digital coins to report wins. As for the other end of the spectrum, Ethereum went down approximately 50%, while Bitcoin Cash decreased 30%.
Altcoins, a widespread term for crypto assets other than Bitcoin, have started the trading week on rather a quiet note. They bucked recent trends, which saw some crypto assets fluctuate in ranges of more than 30% for the last seven days. The currency pair BCH/USD appeared to be the best performing altcoin, showing $528.50, jumping by 1%. The currency pair ETH/USD managed to add 0.5% hitting $229.42. As for the currency pair XRP/USD, it gained 0.8% showing 57 cents, while LTC/USD stood still sticking with $60.27.
On Monday, Bitcoin futures went down. October delivery XBTV8 futures concluded the trading marathon down 1.5% being worth $6,545. The CME Group October delivery futures BTCV8 slumped by 2.25% reaching $6,540.
On Wednesday, the evergreen buck slumped versus the common currency and the UK pound because a dive in American Treasury gains diminished its attractiveness in the face of hopes for dovish news on interest rates from the major US bank…
On Tuesday, the evergreen buck kept slumping for three sessions in a row because dovish remarks from a Fed representative put downward pressure on the US currency…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…