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Cryptocurrency Brief: Bitcoin faces massive losses, ETH/USD hovers near 2018 lows, Philippines SEC plans to impose regulations on crypto exchanges – Wednesday, September 5th, 2018

Wed, 05 Sep 2018, 12:06 pm UTC

BTC/USD: Bitcoin prices slumped during European session Wednesday, reversing gains seen yesterday. This comes as an addition to the news that ShapeShift, a well-known platform for instant Bitcoin exchange, has launched a membership which implies that users will have to provide their personal data, FxStreet reported. At the time of writing, BTC/USD slumped over 5 percent to $6,987.80. Meanwhile, the near-term support is seen at $6,600.00 and resistance at $7,500.00.

ETH/USD: Tracking Bitcoin’s trend, Ethereum prices also plunged as sell-off sentiments returned; ETH/USD is currently hovering near 2018 lows, last seen on August 14. In other news, a report from CCN confirmed that cryptocurrency exchanges in the Philippines are considering to introduce regulations so as to operate as trading platforms, aimed at protecting the interests of the investors as well as create a sustainable crypto trading environment in the country. At the time of writing, ETH/USD plunged 10.30 percent to $255.80, close to the day’s low of 250.93. Meanwhile, the near-term support is seen at $239.00 and resistance at $293.04.

XRP/USD: Ripple fell to levels last seen on August 17, for reasons quite unknown to the crypto world. However, with many governments and higher authorities acing stricter regulations on this unregulated market, investor emotions have taken a darker road. At the time of writing, XRP/USD lost over 9 percent to $0.30041. Meanwhile, the near-term support is seen at $0.27550 and resistance at $0.3500.

BCH/USD: Bitcoin Cash, remained no different, suffering in line with its peers. At the time of writing, BCH/USD slid 10.45 percent to $561.10. Meanwhile, the near-term support is seen at $540.00 and resistance at $600.00.

EOS/USD: The EOS, also lost proportionately by a similar measure, as crypto market bears hit back during Wednesday’s afternoon session. At the time of writing, EOS/USD lost 10.51 percent to $5.8036. Meanwhile, the near-term support is seen at $5.30 and resistance at $6.05.

LTC/USD: Litecoin also faced the ashes of the bearish market sentiments, tracking similar movement among its wider peers. At the time of writing, LTC/USD slumped nearly 8 percent to $62.25. Meanwhile, the near-term support is seen at $55.00 and resistance at $70.00.

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  • Bitcoin (BTC) $8,052.85 (+1.34%)
  • Ethereum (ETH) $261.07 (+3.71%)
  • XRP (XRP) $0.401400 (+0.93%)
  • Bitcoin Cash (BCH) $425.74 (+3.89%)
  • EOS (EOS) $6.36 (+1.37%)
  • Bitcoin (BTC) $8,052.85 (+1.34%)
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