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Cryptocurrency Brief: Bitcoin and altcoins continue downfall, Coinbase plans to explore Bitcoin-related ETF, Australian regulator pushes for close monitoring of crypto sector – Friday, September 7th, 2018

Fri, 07 Sep 2018, 13:50 pm UTC

BTC/USD: Bitcoin prices remained in the red zone on Friday, tracking bearishness over the past few days after news circulated that regulatory authorities are planning to increase the level of speculation over the digital currency market. On the positive side, a report from FxStreet confirmed that U.S.-based Coinbase exchange is on track to explore a Bitcoin-related exchange-traded fund (ETF), in alliance with BlackRock, one of the world’s leading asset management company. At the time of writing, BTC/USD fell 1.36 percent down to $6,427.20. Meanwhile, the near-term support is seen at $6,350.00 and resistance at $6,700.00.

ETH/USD: Tracking Bitcoin’s trend, Ethereum price also toggled and was not very far from today’s low of 213.16. Again, according to a report from CCN, Australia’s primary securities regulator is pushing in efforts to closely monitor the cryptocurrency sector, including ICOs, as part its corporate action plan for 2018-19. At the time of writing, ETH/USD lost 3.25 percent to $222.29; the day’s low stood at 211.19. Meanwhile, the near-term support is seen at $211.00 and resistance at $280.00.

XRP/USD: In line with its peers, Ripple remained in red as well, giving up gains seen on Thursday. Among other news, a report from CoinTelegraph noted that China’s apex court has ruled out that any proof validated with blockchain technology is binding in legal disputes, in an official announcement released early today. At the time of writing, XRP/USD plunged nearly 3 percent to $0.29264. Meanwhile, the near-term support is seen at $0.2660 and resistance at $0.3500.

BCH/USD: Bitcoin Cash, continued its free-fall, hovering near the day’s lows of 495.7, during Thursday’s North American session. At the time of writing, BCH/USD plunged 2.88 percent to $505.20. Meanwhile, the near-term support is seen at $485.00 and resistance at $530.00.

EOS/USD: The EOS, also plunged, tracking similar developments in its wider counterparts as a sense of pessimism and panic sell-off continued among crypto investors. At the time of writing, EOS/USD lost 3.45 percent to $5.0500. Meanwhile, the near-term support is seen at $4.8365 and resistance at $5.2445.

LTC/USD: Litecoin also faced the same fate as investors continued their sell-off, hovering near 2-week low, since yesterday, having reached a low of 55.18 in the day. At the time of writing, LTC/USD suffered 1.27 percent to $56.58. Meanwhile, the near-term support is seen at $49.40 and resistance at $68.00.

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  • Bitcoin (BTC) $8,713.38 (+9.00%)
  • Ethereum (ETH) $267.41 (+7.13%)
  • XRP (XRP) $0.409200 (+6.83%)
  • Bitcoin Cash (BCH) $432.74 (+8.00%)
  • Litecoin (LTC) $113.49 (+11.83%)
  • Bitcoin (BTC) $8,713.38 (+9.00%)
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