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
- “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 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
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:
The second is a SHORT analysis done by user cryptomaniac101:
Daily Altcoin Events
- ETHFinex will list three new coins, including Abyss
- WAB will do a token burn of 7.5 million tokens
- ELIX is set to launch today (August 9)
Many altcoins featured on this list can be traded on Binance.
Bitcoin logo courtesy of bitcoin.org