Cryptocurrency Brief: Bitcoin drops slightly, Japan crypto regulators to tighten laws – Monday, October 1st, 2018

BTC/USD: Bitcoin prices during late European session Monday, as pessimistic investor sentiments continued to cloud the cryptocurrency market for the past few months. However, the overall trend remained bullish. According to a report from CryptoGlobe, Japanese cryptocurrency regulators have decided to tighten laws in an attempt to boost investor protection and safeguard security in the wake of recent hacking attempts. At the time of writing, BTC/USD lost 0.35 percent to $6,599.50. Meanwhile, the near-term support is seen at $6,450.00 and resistance at $6,800.00.

ETH/USD: In line with Bitcoin prices, Ethereum also lost ground, albeit proportionately higher than its immediate peer, following overall bearish sentiments in the market. At the time of writing, ETH/USD fell 1.52 percent to $229.20; the day’s high was seen at $235.75 and low at $227.61. Meanwhile, the near-term support is seen at $210.00 and resistance at $240.00.

XRP/USD: With an overall strong upside momentum, Ripple prices remained in the red zone, giving up gains seen over the past few days. At the time of writing, XRP/USD remained tad lower at $0.58218. Meanwhile, the near-term support is seen at $0.5500 and resistance at $0.6300.

Market Update: Some of the world’s leading experts in the field of finance, technology and politics, will be attending the two-day blockchain event hosted by Ripple today in San Francisco, a report from NewsBTC confirmed.

BCH/USD: For a change, the Bitcoin Cash, remained in the greener zone, albeit with not much movements in space amid a volatile and topsy-turvy market over the past few days. At the time of writing, BCH/USD rose 0.70 percent to $535.10. Meanwhile, the near-term support is seen at $500.00 and resistance at $570.00.

EOS/USD: The EOS, also slumped, tracking its wider peers amid a range of mixed news around the cryptocurrency market. At the time of writing, EOS/USD traded 1.14 percent lower at $5.6579. Meanwhile, the near-term support is seen at $5.30 and resistance at $6.00.

LTC/USD: Litecoin, remained stuck in a tight trading range as well, in the aftermath of the panic sell-off seen recently as financial authorities geared up for stricter regulations for a better trading and investment experience. At the time of writing, LTC/USD suffered 0.47 percent to $60.932. Meanwhile, the near-term support is seen at $50.00 and resistance at $70.00.