The crypto markets have been getting mixed signals lately. However, over the past 24 hours, Bitcoin managed to push through $6,700 and record new gains. Most of the other altcoins followed, except from one in the top ten list that didn’t saw any major fluctuations.
The spotlight has been Bitcoin and the challenging $6,600 that it managed to break through. Right now, Bitcoin is trading at $6,732 which is above the $6,400 to $6,400 resistant level which has been described by Fundstrat as crucial for reversing the existing downtrend.
Ethereum (ETH), on the other hand, is up over 2% over the past 24 hours and is now trading at $470 at press time. The cryptocurrency is also holding the gains made during the market uptick on June 30th which made it rise up from near $400.
Meanwhile, Tether’s daily volume has increased 10% to $2 billion, signifying that traders on exchanges like Binance have started to hedge the value of major digital assets against the value of the US dollar through stablecoins.
Even though since July 2nd, we are seeing Bitcoin over the $6,000 region and constantly climbing, the leading cryptocurrency has also struggled to initiate a major movement on both the upside and downside, mainly because of the low daily volume of BTC.
So, in the short-term, it is likely for Bitcoin to fall to the lower end of $6,000 than to rise above $7,000 mark. In the mid-term, however, a major break could be recorded – and a large rally can be expected.
In the end, the volume is the main concern for the market. As of right now, the volume of BTC is struggling to remain above $4 billion, demonstrating a volume that is similar to that of Tether *USDT).
Coinbase Adds PayPal Withdrawals To Its Platform (For U.S. Citizens)
“There is new technical work to make this possible, and that was done in conjunction with PayPal.”However, this Friday Osgood wrote that the partnership provides Coinbase customers an alternative to the traditional federal wire or automated clearing house (ACH) network that they were required to use. As he said:
“These traditional finance networks can add up to two business days to a withdrawal. We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.”The service is for now only available to customers in the United States, but could continue to be added to other nations across 2019, as Osgood wrote.
Bitcoin Plunges To A Yearly Low, Market Is ‘Prepared’ To Go Below $100 Billion
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”Currently, there is a big risk in shorting and longing Bitcoin and other major cryptocurrencies in the market, which is why investors are observing the short-term trend of the crypto market by holding out on their trading activity.
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
Bitcoin Cash Drops Again By 15 Percent While Other Cryptocurrencies Take A Stronger Hit
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- Coinbase Adds PayPal Withdrawals To Its Platform (For U.S. Citizens)
- Bitcoin Plunges To A Yearly Low, Market Is ‘Prepared’ To Go Below $100 Billion
- TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
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