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Bitcoin Price Daily Report — August 16th, 2018

· 16 Aug 2018 in Bitcoin

Bitcoin Price Daily report — August 16th, 2018

The BTC/USD Daily report for August 16th, 2018

The 1 day range for BTC is $6212.9 – $6476.7. It is currently up 2.58% in the last 24 hours.

Today’s Bitcoin Price Headlines

Blow To Bitcoin As Coinbase CEO Makes Stark Warning

  • “Bitcoin and cryptocurrency adoption rates around the world are growing, but not quickly enough to prevent the bitcoin price from falling — and now the chief executive of San Francisco-based Coinbase, one of the world’s largest cryptocurrency exchanges, has warned that widespread, mass bitcoin adoption for payments is going to be a long time coming”

There’s Now an Exchange-Traded Bitcoin Note That American Investors Can Buy

  • “If you want to buy Bitcoin without actually buying Bitcoin, you now have another way to own the controversial digital currency.”

Jim Cramer Thinks ‘Sun is Setting’ On Bitcoin

  • “I think the tide has turned against it. I’m not saying its time has passed, but there is a notion that the sun seems to be setting.”

BTC/USD Trading Technicals

Screen Shot 2018 08 16 at 7.22.22 PM

Technicals from Tradingview.com

The good news is that we’re now seeing consolidation around $6400; where had a big drop down below $6000 two days ago and then a big up near $6500, the 24 hour prices have tightened around where are now. We’ve seen another 2%+ day, with some altcoins making double digit growth moves. A string of good news on the crypto front today as prices are coming back. We should expect a correction from today’s bounce as well.

And just to stay leveled despite two days of growth, we’re seeing ‘Strong Sell’ from moving indicators; so we may have some ways to go.

Screen Shot 2018 08 16 at 7.22.57 PM

BTC/USD Trading Charts

To illustrate those technicals, we’ll show two LONG charts today.

Our first chart is from user goldbug1 with a LONG suggestion:

Screen Shot 2018 08 16 at 7.30.25 PM

And another LONG chart from user ForecastCity:

Screen Shot 2018 08 16 at 7.30.36 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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