Cryptocurrency Brief: Bitcoin attempts minor recovery after losing over 25 pct in past 2 days, Singapore’s liquidity provider B2C2 sues crypto exchange Quoine – Wednesday, November 21
Nov 21, 2018 12:05 pm UTC
BTC/USD: Bitcoin prices have started to witness a minor recovery during late European session Wednesday, after having lost over 25 percent in the past two trading days, owing to general pessimism in the crypto market over stricter regulations and scams and frauds that led to many investors losing out a handsome amount of money. At the time of writing, BTC/USD rose 2.02 percent to 4,660.18. Meanwhile, the near-term support is seen at $4,000.00 and resistance at $5,100.00.
Market Update: According to a report from Reuters, "A plunge in the value of bitcoin and other crypto-assets has eased the pressure on Britain’s financial watchdog to take radical action that could deter investment and financial innovation, government officials and regulators said on Tuesday."
Another report from CoinTelegraph noted that Singapore’s liquidity provider B2C2 has sued cryptocurrency exchange Quoine at the Singapore International Commercial Court over alleged reversal of seven Bitcoin to Ethereum (ETH) trades that the former had attempted to perform in April 2017.
ETH/USD: In line with Bitcoin, Ethereum also attempted a minute recovery after hitting this year’s fresh low on Tuesday; however, no substantial gains have yet been noted. Also, the overall trend still remained bearish, with a larger share of market participants wary of cryptocurrencies’ future. At the time of writing, ETH/USD recovered 3.57 percent to 138.65. Meanwhile, the near-term support is seen at $100.00 and resistance at $178.00.
XRP/USD: Ripple, also remained in the green zone during Wednesday’s afternoon session, tracking a similar rebound in its wider peers, possibly on account of a minor short-covering ahead of the Thanksgiving Day. At the time of writing, XRP/USD gained 2.27 percent to $0.45341. Meanwhile, the near-term support is seen at $0.3700 and resistance at $0.5700.
BCH/USD: Bitcoin Cash, however, seemed to witness the biggest rebound among all its major counterparts. Investors seem to let-go the after-effects of the hard fork that gave birth to Bitcoin Cash ABC and Bitcoin Cash SV. At the time of writing, BCH/USD (ABC) jumped 12.45 percent to $233.90, almost offsetting yesterday’s losses and BCH/USD (SV) surged 17.55 percent to 48.67.
EOS/USD: Nothing different, the EOS, also showed up green signals amid investors’ confusion to find a proper direction in the digital currency market. At the time of writing, EOS/USD traded 1.51 percent higher at $3.8798. Meanwhile, the near-term support is seen at $3.45 and resistance at $4.25.
LTC/USD: Litecoin, also matched its counterparts, rising, in line with the overall bearish momentum in the market. At the time of writing, LTC/USD remained nearly 4 percent higher to trade at $35.173. Meanwhile, the near-term support is seen at $29.00 and resistance at $45.00.
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