With the start of the school year, crypto markets showed decent gains on September 1st with almost all top 100 cryptocurrencies by market cap is in the desired green zone.
Bitcoin (BTC) steadily continued to climb over the $7,000 mark which is basically more than a 2 percent increase in the past 24 hours. It is now trading at $7,268 which is a 0.99% increase over the past day. Bitcoin broke the $7,000 point for the second time this week right after news hit from the US Commodity Futures Trading Commission where they showed a decline in bearish positions for Bitcoin futures contracts that are not commercial.
Ethereum (ETH) is now going over the $290 price point which is actually a drop by 1.33 percent over the past 24 hours but on the other hand, the second largest cryptocurrency saw more than 6 percent growth on a weekly basis despite the losses it’s been suffering for a whole month.
The total market cap of all cryptocurrencies is now $238 billion and this is a first time Since Aug 8. However, the total market cap is continuing to grow to show a possible spike in the following hours.
Dogecoin has also seen some notable growth reaching a stunning 40 percent in the past 24 hours and is currently a 22 place on CoinMarketCap trading at $0.005103. The previous week, the central bank of India confirmed the plans to issue a rupee-backed central bank currency. Also, Yahoo Finance offered a buy and sell options for a few major cryptocurrencies on its website. This is great news for all cryptocurrencies!
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’
‘’But this, of course, is not a reason to bury cryptocurrencies. There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.’’He continued to discuss social inequalities and how the global digital transformation is speeding up saying the cryptocurrency is a part of that fast-going phenomena. The news comes right after major media outlets published the story of Russia’s plan to purchase $10 billion worth of BTC. Turns out that the news was fake. The Russian economist from the Presidential Academy of National Economy and Public Administration Vladislav Ginko pointed out that he strongly believes that Russia might use Bitcoin to fight economic sanctions and this story swamped the media and got massively exaggerated. Russia is, however, preparing a crypto bill that will provide stable cryptocurrency regulation in the next two months. The Duma State will be drafting a regulatory framework in February to regulate ICOs and crypto crowdfunding.
Nearly 1.5 Million People Used dApps In 2018, More Than A Half Being On Ethereum
"TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem."TRON (TRX) launched 97 decentralized applications in 2018, while its ecosystem and community have been growing at an alarming rate. This week, TRX was added to OKCoin, which is one of the largest US exchanges, in order to be traded against fiat, Bitcoin and Ethereum. The report also showed that gambling accounted for $3 billion in transactions over the course of 2018 in dApps.
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