The BTC/USD Daily report for August 3rd, 2018.
The 1 day range for BTC is $7,282-$7,533. It is currently down 2.30% in the last 24 hours.
Today’s BTC/USD Headlines
Published by UBS strategists, the report concludes that bitcoin “falls short of criteria that need to be satisfied to be considered money.”
“I think that bitcoin’s at a very critical stage because if that uptrend’s going to continue, it needs to dig in right here,”
Published in a quarterly report to the U.S. Securities and Exchange Commission (SEC), Square revealed generating over $70 million in revenue via Bitcoin alone through the first half of 2018. In addition, despite the falling price of cryptocurrency throughout 2018, the company reported a growth in revenue between the first and second quarter of the year, posting $34 million and $37 million, respectively.
BTC/USD Trading Technicals
Technicals from Tradingview.com
As we can see, the majority of signals have BTC/USD daily at a sell; with all most averages signaling a short strategy for trading. BTC is already down today; as well as many altcoins which have fallen with the market leader. BTC/USD is only down 2% of so, with many altcoins (including ICX and others) down as much as 15-20%. It’s been a down day for the market as the total market cap has slipped to just over $261,000,000. Of course, the BTC/USD trading pair sets the way for most of the market.
BTC/USD Trading Charts
T.A. from user Cheesetoast with a BTC short outlook
T.A. from user YoungShkreli with a BTC short outlook
Daily Altcoin Events
- Red Pulse (RPX) is presenting today in Hong Kong
- The Discon Conference features many coins (in Boulder, Colorado)
- International Blockchain Conference is happening in India
Many altcoins featured on this list can be traded on Binance.
Bitcoin logo courtesy of bitcoin.org