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Cryptocurrency Brief: Bitcoin struggles to hold $7,000 mark, Bithumb to recommence new user registrations from Sep 1, EOS attempts – Friday, August 31st, 2018

Fri, 31 Aug 2018, 13:38 pm UTC

BTC/USD: Bitcoin struggled to hold on to the $7,000 psychological mark on Friday, continuing its losses since yesterday after the European Union (EU) considered tightening regulations on how people like to use cryptocurrency, thus weighing on investors’ sentiment in the entire virtual currency world. In other news, South Korea’s second largest crypto exchange, Bithumb is all set to recommence its new user registrations from September 1 onward. At the time of writing, BTC/USD slipped 1 percent to $6,920.00. Meanwhile, the near-term support is seen at $6,600.00 and resistance at $7,400.00.

ETH/USD: Similar to Bitcoin’s trend, Ethereum prices also remained on the downside, disappointing investors in Friday’s afternoon session. According to a report from CryptoGlobe, BTC.com, world’s largest bitcoin mining pool, is heard to launch an Ethereum mining operation that is expected to have 12% of the second-largest cryptocurrency’s hashrate within the next 12 months. At the time of writing, ETH/USD plunged 2.28 percent to $277.61, close to the day’s low of 276.40. Meanwhile, the near-term support is seen at $250.00 and resistance at $305.00.

XRP/USD: Ripple also witnessed decent losses, as investors remain caution over news of the EU’s tightening of crypto regulations. In other news, according to a report from CoinGape, At the time of writing, XRP/USD suffered nearly 2 percent to $0.32870. Meanwhile, the near-term support is seen at $0.2900 and resistance at $0.4100.

BCH/USD: Bitcoin Cash, followed the footprints of its peers, losing, albeit at a proportionately lower rate as a general sense of pessimism struck the entire crypto market. At the time of writing, BCH/USD traded 0.17 percent down at $537.70. Meanwhile, the near-term support is seen at $520.00 and resistance at $575.00.

EOS/USD: The EOS, however, attempted to recover, on Friday, its losses seen on Thursday, as investors shifted buying interests from its wider peers into its basket. At the time of writing, EOS/USD gained 1.37 percent to $6.1539. Meanwhile, the near-term support is seen at $5.78 and resistance at $7.20.

LTC/USD: Litecoin was also not spared by the sell-off sentiment, but managed to correct its previous losses to some extent. In other news, released yesterday, the Litecoin Foundation is scheduled to hold a Litecoin Summit on September 14-15 at the San Francisco conference center, which will include speakers from all over the world adept in this industry and also Charlie Lee, the coin’s founder, FxStreet reported. At the time of writing, LTC/USD traded 0.42 percent lower at $59.85. Meanwhile, the near-term support is seen at $49.00 and resistance at $75.00.

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  • Bitcoin (BTC) $8,643.86 (+7.27%)
  • Ethereum (ETH) $266.06 (+5.51%)
  • XRP (XRP) $0.408600 (+5.54%)
  • Bitcoin Cash (BCH) $431.74 (+6.19%)
  • Litecoin (LTC) $110.95 (+8.20%)
  • Bitcoin (BTC) $8,643.86 (+7.27%)
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