Cryptocurrency Brief: Bitcoin continues to suffer amid panic sell-off, ETH/USD slumps to fresh year lows, U.S. SEC’s Bitcoin ETF decision due on Sep 30 – Thursday, September 6th, 2018
Thu, 06 Sep 2018, 12:07 pm UTC
BTC/USD: Bitcoin prices continued to slump during European session Thursday, as regulatory authorities plan to raise their speculation level, bringing in stricter laws for the better sustainability of the digital currencies. Meanwhile, investors await the United States’ Security and Exchange Commission’s (SEC) decision on a Bitcoin-related exchange-traded fund (ETF), scheduled to be unveiled on September 30. The authority has rejected another ETF, owing to fears of high levels of volatility and price manipulations, FxStreet reported. At the time of writing, BTC/USD slumped nearly 5 percent to $6,386.70. Meanwhile, the near-term support is seen at $6,350.00 and resistance at $7,000.00.
ETH/USD: Tracking Bitcoin’s trend, Ethereum prices also felt the heat of the carnage, plunging to levels last seen in September last year. However, market participants seem too drowsy to wake up to long positions in the virtual currency market, including Ethereum as well. Further to that, the coin also breached the previous support, following market bearishness. At the time of writing, ETH/USD lost 1.23 percent to $225.59; the day’s low stood at 211.19. Meanwhile, the near-term support is seen at $198.00 and resistance at $287.00.
XRP/USD: Contrary to its peers, Ripple remained in green, on way to correct previous losses amid a panic sell-off among investors that drove the digital currency market haywire over the past 24 hours. At the time of writing, XRP/USD rose nearly 2 percent to $0.28410. Meanwhile, the near-term support is seen at $0.2400 and resistance at $0.3500.
BCH/USD: Bitcoin Cash, continued its free-fall, stooping to over 2-wee low during Thursday’s afternoon session. At the time of writing, BCH/USD plunged 5.19 percent to $499.40. Meanwhile, the near-term support is seen at $435.00 and resistance at $523.00.
EOS/USD: The EOS also plunged, tracking similar developments in the Bitcoin counterpart amid a mood of pessimism that shadowed the whole crypto market. In other news, CoinGape noted that "Goldman has moved plans to open a desk for trading cryptocurrencies further down a list of priorities for how it can participate in cryptocurrency markets, according to people familiar with the matter," citing a report from Business Insider. At the time of writing, EOS/USD lost 2.61 percent to $5.0272. Meanwhile, the near-term support is seen at $4.80 and resistance at $5.70.
LTC/USD: Litecoin also faced the same fate as investors continued to dump their holdings as after panic sell-off struck among digital market participants, sliding to a 2-week low. At the time of writing, LTC/USD suffered 4.52 percent to $55.10. Meanwhile, the near-term support is seen at $49.40 and resistance at $68.00.
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