Cryptocurrency Brief: Bitcoin and altcoins suffer massive sell-off, Gemini exchange to expand UK operations, UNICEF France to accept crypto donations – Monday, September 24th, 2018
Mon, 24 Sep 2018, 11:44 am UTC
BTC/USD: Bitcoin prices lost ground during late European session Monday, down-trending for the third consecutive day as financial regulations from top authorities still remain on board. However, a couple of good news from the cryptocurrency market failed to change the digital currency’s direction. At the time of writing, BTC/USD lost 1.64 percent to $6,604.90. Meanwhile, the near-term support is seen at $6,400.00 and resistance at $6,800.00.
Market Update: According to a report from FxStreet, Winklevoss twins’, Gemini exchange has announced plans to expand its operations in the United Kingdom despite a pool of regulations from the country’s top financial authorities flowing into the virtual currency market.
In addition, Brazil’s largest independent brokerage firm, Grupo XP said that it will launch a Bitcoin and Ethereum trading exchange in the next few months, despite reluctance from the company’s CEO Guilherme Benchimol, CryptoGlobe reported.
ETH/USD: Similar to Bitcoin prices, Ethereum slumped as well, losing over 4 percent during Monday’s afternoon trade even as some positive news crawl into the market; investors still remain engaged in a panic sell-off that emerged over the past few days, only to be fueled by the arrival of stricter financial regulations around the globe. At the time of writing, ETH/USD slumped 4.35 percent to $234.09; the day’s high was seen at $245.90 and low at $229.00. Meanwhile, the near-term support is seen at $220.00 and resistance at $255.00.
Market Update: A recent report from CoinGape stated that the United Nations Children’s Fund (UNICEF) France has decided to accept donations in nine of the major cryptocurrencies, that include, Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, EOS, Stellar, Monero, and Dash.
XRP/USD: Ripple, also plunged to steep levels, but not quite reversing the huge gains made since the end of last week. The cryptocurrency posted a high of 0.58418 and a low of 0.51010 through the day, with the losses in line with its wider counterparts. At the time of writing, XRP/USD plunged 8.50 percent to $0.52261; however, this is a major recovery from the range-bound trade last week and the digital coin remains in an uptrend. Meanwhile, the near-term support is seen at $0.4200 and resistance at $0.6300.
BCH/USD: Bitcoin Cash, remained no different than its global peers, losing heavy during afternoon trade Monday amid a slew of positive news creeping in the cryptocurrency market. At the time of writing, BCH/USD slumped nearly 5 percent to $465.90. Meanwhile, the near-term support is seen at $450.00 and resistance at $510.00.
EOS/USD: The EOS, suffered, heavily as bearish sentiments overpowered bullishness, only leading to a massive sell-off through the day. At the time of writing, EOS/USD plunged nearly 6 percent to $5.6726. Meanwhile, the near-term support is seen at $5.18 and resistance at $6.15.
LTC/USD: Litecoin, also, remained no different, following a similar movement in all its counterparts amid increased means of financial regulation from higher authorities, citing heightened risks related to cryptocurrencies. At the time of writing, LTC/USD lost 5.60 percent to $58.021. Meanwhile, the near-term support is seen at $53.00 and resistance at $68.00.
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