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On Monday, crypto assets proceeded with their dive, with all key cryptocurrencies starting the trading week in the red because the disastrous September demonstrates no sign of receding.
The world’s number one crypto asset, Bitcoin retreated towards its year’s minimum, trading at $6,120.31, which is its lowest value for almost a month. During early morning trade, on the Kraken exchange, the currency pair BTC/USD showed $6,299.89, declining by 1.4% since Sunday.
The crypto market cap has lost almost $50 billion off the overall value of all digital currencies for less than five days. It gave one blogger grounds to talk about the integrity of the crypto market. Due to the fact that crypto assets are decentralized, anybody is capable of creating his own, and all types of outfits are currently mining fresh units of currently existing digital coins. Some experts even dared to label crypto assets as a “big joke” because a great number of people keep losing huge amounts expressed in fiat currencies normally hated by them.
On Saturday, the number two crypto asset, Ethereum, went down below $200 on Saturday. It turned out to be the first such a leap since September last year and made a fresh one-year minimum, reaching $185. As a matter of fact, the currency pair ETH/USD came up with a reading of $196.44, heading south by approximately 2.5%.
In addition to this, the losses kept mounting. The currency pair BCH/USD headed south by 2% trading at $478.60. Furthermore, the currency pair LTC/USD slumped by 3.4% at $54.20. The currency pair XRP/USD hit 27 cents, losing about 3.3%.
As for futures, they started the trading week on the back foot. Eventually, September delivery Cboe Global Markets Group Inc.’s contract XBTU8 went down by 2.1% being worth $6,270. At the same time, September delivery CME Group Inc. contract BTCU8 lost 2% reaching $6,260.
On Wednesday, the evergreen buck declined because the Japanese yen kept to a two-month minimum due to the fact that market participants had the latest trade reports digested…
On Tuesday, the evergreen buck added versus its counterparts because market participants weighed the latest worsening in the tit-for-tat tariff conflict between China and America, while a weaker common currency also raised market sentiment…
On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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