In the latest Bitcoin news, we have the price of the leading cryptocurrency dropping to $6,335 and dipping by 2%. However, this drop can be seen as a correction since the price of Bitcoin dropped to $6,250 earlier today.
The crypto-only exchanges have demonstrated a price of $6,350 for Bitcoin due to the premium on BTC-to-USDT (Tether) pair which left the actual price of Bitcoin at around $6,256. The volume of Bitcoin increased from $3.1 billion to $4.2 billion over the past seven days – by more than 35%.
As the price of Bitcoin fell below $6,300, the value of some major digital assets and altcoins such as Bitcoin Cash (BCH) and EOS also fell by more than 5%, along with the small cap tokens. According to some traders and technical analysts, the abrupt dip in the price of BTC was still a minor movement above the support levels and as such, it is too early to confirm a bearish short-term trend.
As one of the analysts named AwaitingMonk said:
“BTC dipped into a demand area. Absolutely nothing to worry about right now. Still focused on alts and using this opportunity to buy the dip.”
The head of operations at OKEx which is the third largest cryptocurrency exchange emphasized that historically, Bitcoin has tended to dip in value. As he stated:
“It’s always quiet before a good storm. The market has been calm for almost a year, we can expect something good to happen soon to Bitcoin.”
Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling
‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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