Cryptocurrency Brief: Bitcoin, altcoins continue to suffer, Ripple on recovery path amid heightened regulations – Wednesday, October 3rd, 2018

BTC/USD: Bitcoin prices remained slightly on the downside during late European session Wednesday, as investors still remain clouded by pessimism for the past few weeks amid earlier decisions by top financial authorities to tighten regulatory laws on cryptocurrencies to protect investors’ security in the wake of recent hacking attempts. At the time of writing, BTC/USD lost 0.73 percent to $6,480.50. Meanwhile, the near-term support is seen at $6,300.00 and resistance at $6,600.00.

Market Update: According to a report from CCN, Australian cryptocurrency payments startup TravelbyBit has seen a cash injection of USD2.5 million from a high-profile investor in Binance, the world’s largest cryptocurrency exchange.

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 lost 2.50 percent to $220.33; the day’s high was seen at $226.49 and low at $214.00. Meanwhile, the near-term support is seen at $200.00 and resistance at $245.00.

XRP/USD: With an overall strong upside momentum, Ripple prices remained in the green zone, giving up losses seen yesterday. At the time of writing, XRP/USD jumped over 3 percent to $0.53427. Meanwhile, the near-term support is seen at $0.4300 and resistance at $0.5800.

BCH/USD: Bitcoin Cash, also remained in the red zone, in line with its wider peers amid a topsy-turvy market over the past few days. At the time of writing, BCH/USD suffered 2.60 percent to $518.50. Meanwhile, the near-term support is seen at $484.00 and resistance at $560.00.

EOS/USD: Nothing different, the EOS also fell, tracking its wider peers amid a range of mixed news around the cryptocurrency market over the past few weeks. At the time of writing, EOS/USD traded 0.44 percent lower at $5.5950. Meanwhile, the near-term support is seen at $5.20 and resistance at $6.05.

LTC/USD: Litecoin, also matched its peers amid an overall bearish sentiment in the cryptocurrency market, following the aftermath seen in the panic sell-off as financial authorities geared up for stricter regulations for a better trading and investment experience. At the time of writing, LTC/USD fell 2.57 percent to $57.965. Meanwhile, the near-term support is seen at $50.00 and resistance at $65.00.