bitcoin PNG47 - Bitcoin Price Daily — August 9th, 2018

Bitcoin Price Daily — August 9th, 2018

The Bitcoin Price daily report for August 9th, 2018

The 1 day range for Bitcoin (BTC/USD) is $6268.4 – $6384.7. It is currently up 0.92% in the last 24 hours.

Today’s BTC/USD Headlines

Crypto market hits low in 2018

  • “The total market capitalization for all cryptocurrencies just fell to its lowest point in 2018.

    The developments come after the US Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchange-traded fund (ETF). The news triggered a market reaction, ultimately sending the total value of all cryptocurrencies down to $227.8 billion on Wednesday – the lowest level since November 2017 – according to data from CoinMarketCap.”

Yale Research Proposes Idea for Crypto Coin Predictions

  • “Yale University financial experts have suggested a system of factors to predict price trends in major cryptocurrencies, according to an official statement by YaleNews Aug. 6.

    The new study was conducted by Yale economist Aleh Tsyvinski and Yukun Liu, a Ph.D. candidate in the Department of Economics, and is reportedly the “first-ever comprehensive economic analysis of cryptocurrency and the blockchain technology.”

BTC/USD Trading Technicals

Screen Shot 2018 08 09 at 7.03.22 PM

Technicals from Tradingview.com

After a disaster of a day yesterday, Bitcoin seems to have some life to it; rebounding just a bit but fighting off key resistance levels. Likely this is many who are seeing an opportunity to buy BTC on the cheap after a near 10% fall yesterday; or traders who sold on the news of the ETF delay and are buying back in. Either way, it’s a (small) green day for Bitcoin so there’s some reason for optimism, despite most indicators still showing strong sell signs.

BTC/USD Trading Charts

Bitcoin is in a battle right now. Here are two charts showing analysis of BTC/USD.

The first is a LONG take by analyst wave-trader:

Screen Shot 2018 08 09 at 7.12.24 PM

The second is a SHORT analysis done by user cryptomaniac101:

Screen Shot 2018 08 09 at 7.12.02 PM

Daily Altcoin Events

Many altcoins featured on this list can be traded on Binance.

Bitcoin logo courtesy of bitcoin.org

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