• Mon, 27 May 2019, 09:05 AM
  • All times are UTC
  • Edition:
Link copied

Cryptocurrency Brief: Bitcoin breaks below 6,500 mark on increased regulations, ASIC suspends five ICOs since April – Tuesday, September 25th, 2018

Tue, 25 Sep 2018, 11:45 am UTC

BTC/USD: Bitcoin prices remained on the downside during late European session Tuesday, for the fourth consecutive day, following increased level of regulations from various financial authorities. The cryptocurrency broke below the 6,500 mark, hitting a 5-day low after Japan’s Ministry of Finance (MoF), the country’s financial watchdog imposed "administrative penalties" on Osaka-based Tech Bureau, operator of the licensed cryptocurrency exchange Zaif, CCN reported. At the time of writing, BTC/USD lost 2.66 percent to $6,410.30. Meanwhile, the near-term support is seen at $6,100.00 and resistance at $6,700.00.

Market Update: According to another report from CryptoDaily, the Australian Securities and Investments Commission (ASIC) have made an announcement that they have stopped five Initial Coin Offerings (ICOs) since April 2018, signaling a tough patch of regulations so as to prevent threats to innocent cryptocurrency investors.

ETH/USD: Similar to Bitcoin prices, Ethereum slumped as well, losing over 8 percent during Tuesday’s afternoon trade, following a rise in regulation levels from top global financial authorities. At the time of writing, ETH/USD slumped 8.22 percent to $209.12; the day’s high was seen at $227.85 and low at $207.12. Meanwhile, the near-term support is seen at $190.00 and resistance at $245.00.

Market Update: A recent report from CryptoGlobe stated that Vitalik Buterin, Ethereum’s co-founder have recommended the use of privacy-oriented Zcash’s zk-SNARKs technology, so as to help boost the Ethereum blockchain to process 500 transactions per second.

XRP/USD: Ripple, also plunged to steep lows, albeit not fully reversing the heightened gains seen towards the end of last week. The reason for the freefall remains common to all crypto pairs – higher levels of investigation and regulations so as to minimize the margin of threats faced by digital currency investors. At the time of writing, XRP/USD plunged 9.33 percent to $0.44694; however, the digital coin still remains in an uptrend. Meanwhile, the near-term support is seen at $0.3200 and resistance at $0.5800.

BCH/USD: Bitcoin Cash, remained no different than its global peers, losing heavy during afternoon trade Tuesday as a slew of negative news crept into the cryptocurrency market. At the time of writing, BCH/USD slumped nearly 6 percent to $436.00. Meanwhile, the near-term support is seen at $405.00 and resistance at $490.00.

EOS/USD: The EOS, also suffered, heavily as bearish sentiments continued to overpower bullishness, only leading to a massive sell-off through the day, following a similar movement in its wider counterparts. At the time of writing, EOS/USD plunged over 9 percent to $5.1538. Meanwhile, the near-term support is seen at $4.90 and resistance at $6.00.

LTC/USD: Litecoin, was also not spared by the cloud of bears that grasped the cryptocurrency market, leading to a panic sell-off as financial authorities decide to level up their degree of regulations for a better trading and investment experience. At the time of writing, LTC/USD lost nearly 5 percent to $55.166. Meanwhile, the near-term support is seen at $50.00 and resistance at $61.00.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,708.35 (+8.79%)
  • Ethereum (ETH) $267.50 (+7.02%)
  • XRP (XRP) $0.409700 (+6.86%)
  • Bitcoin Cash (BCH) $433.20 (+8.00%)
  • Litecoin (LTC) $113.25 (+11.27%)
  • Bitcoin (BTC) $8,708.35 (+8.79%)
May 27, 2019 (Monday)
Recruit invests in next-gen blockchain startup COTI
Crypto exchange Bittrex teams up with IdentityMind for automated transaction monitoring
Rabobank ditches plan to launch cryptocurrency wallet 'Rabobit'
Deloitte Canada selects LiteLink as blockchain delivery group
Crypto trading app Robinhood gears up to raise $200M: Report
Saudi Customs departs first blockchain-powered shipment to Rotterdam
US State of Montana is now crypto friendly, recognizes utility tokens
Facebook’s Zuckerberg reaches out to Winklevoss twins for crypto project: Report
Blockchain capital markets platform iSTOX joins Singapore's sandbox
Luxury watchmaker Vacheron Constantin to use blockchain technology to authenticate timepieces
Swisscom TV to showcase blockchain-based artwork
May 24, 2019 (Friday)
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
German engineering giant Bosch trials Ethereum blockchain
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
Bank of Russia to review proposal on gold-backed cryptocurrency
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
Robinhood Crypto is now in New York
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
California resident sued for alleged $26M crypto Ponzi scheme
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.