Bitcoin Hovers Over $10300 as Top Altcoins See Mixed Movements

Saturday, Sept. 14 — The top 20 cryptocurrencies are reporting mixed movements on the day while Bitcoin’s (BTC) price hovers over the $10,300 …

Saturday, Sept. 14 — The top 20 cryptocurrencies are reporting mixed movements on the day while Bitcoin’s (BTC) price hovers over the $10,300 mark by press time.

Market visualization courtesy of Coin360

Market visualization courtesy of Coin360

The price of Bitcoin is currently up by 0.13% on the day, trading at around $10,313 at press time, according to Coin360. Looking at its weekly chart, the coin is down by about 0.46%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

As Cointelegraph reported yesterday, Bitcoin trading is opening new avenues for citizens in communist-run Cuba, which has been financially isolated for years under a United States trade embargo. According to a recent report, Cubans are increasingly using cryptocurrencies to make online purchases, as well as to invest and trade.

Ether (ETH) is holding onto its position as the largest altcoin by its market capitalization, which currently stands at $19.4 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $10.9 billion at press time.

Coin360 data shows that ETH’s value increased by about 0.92% over the last 24 hours. At press time, ETH is trading at around $180. On the week, the coin has also gained about 6.5% of its value.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

XRP is up by about 1.07% over the last 24 hours and is currently trading at around $0.255. On the week, the coin is up about 1.59%.

XRP 7-day price chart

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the one reporting the most notable price movement is IOTA (MIOTA), which is down about 43.67%.

At press time, the total market capitalization of all cryptocurrencies is $264.2 billion, about 0.38% higher than the value reported a week ago.

Keep track of top crypto markets in real time here

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CME Looks to Bolster Bitcoin Futures Product Ahead of Bakkt Launch

Over the past few months, the Chicago Mercantile Exchange (CME) Group Bitcoin futures contracts have become increasingly important in this …

CME Looks to Improve Bitcoin Product

Over the past few months, the Chicago Mercantile Exchange (CME) Group Bitcoin futures contracts have become increasingly important in this budding market. In fact, as the financial institution pointed out that since foraying into cryptocurrencies in December 2017 — just around the $20,000 peak of the last bull market — its Bitcoin market has processed the equivalent of 10 million worth of BTC (more than 50% of all coins in circulation) in volumes. Crazy, right?

Volume update: As of July 23, CME Bitcoin futures have traded over 2M total contracts (10M equivalent bitcoin) since the December 2017 launch. Explore BTC: https://t.co/Z1LGfdrbFLpic.twitter.com/NkmQnMnliM

— CMEGroup (@CMEGroup) July 23, 2019

This doesn’t seem to be good enough for CME, however. According to a report from CoinDesk, the CME is planning to increase the month position limit for its Bitcoin futures contracts to 2,000 contracts from 1,000. As each contract is worth five BTC, this would allow a trader’s maximum exposure to be some $100 million.

According to the CME in a comment to CoinDesk, its cryptocurrency market currently doesn’t have clients that trade in such large volumes. Yet, the comment elaborated that the CME sees the potential for growth in its Bitcoin futures, meaning that the limits may one day be relevant due to the “significant and acceptance” of the CME’s cryptocurrency market.

As it stands, CME is currently the only large financial institution that is offering such contracts for such a nascent market. So, if Bitcoin continues to rally and gain traction in institutional circles, these limits might actually start to be approached.

Bakkt On Its Way

The CME’s decision to make this change to its Bitcoin futures market comes ahead of the launch of Bakkt, the Intercontinental Exchange-backed cryptocurrency startup slated to revolutionize a number of facets in this budding industry.

Earlier this month, the firm launched its custody service for institutional clients, accepting Bitcoin deposits. On September 23rd, it is expected to follow up the launch of its warehouse by starting to offer the first physically-deliverable Bitcoin futures contract. Bakkt is reported by markets analysis firm Fundstrat to have a “critical mass” of institutions ready to adopt Bakkt’s Bitcoin futures at launch on September 23rd. the outfit’s Sam Doctor said earlier this year that the exchange is going to give institutions on the edge about cryptocurrency the push to actually begin investing in Bitcoin.

Would it be crazy to assume that the CME is trying to bolster its product to keep clients from jumping ship for Bakkt? No, maybe not.

Title Image Courtesy of Unsplash.com

Blakecoin Price Tops $0.0015 on Top Exchanges (BLC)

Blakecoin Price Tops $0.0015 on Top Exchanges (BLC) … Ethereum Classic (ETC) traded 1.5% lower against the dollar and now trades at $6.25 or …

Blakecoin logoBlakecoin (CURRENCY:BLC) traded up 0.4% against the US dollar during the 1 day period ending at 10:00 AM Eastern on September 12th. One Blakecoin coin can currently be purchased for about $0.0015 or 0.00000015 BTC on major cryptocurrency exchanges including C-Patex and Cryptopia. Blakecoin has a total market capitalization of $35,841.00 and $5.00 worth of Blakecoin was traded on exchanges in the last day. Over the last week, Blakecoin has traded 8.9% lower against the US dollar.

Here’s how other cryptocurrencies have performed over the last day:

  • Bitcoin (BTC) traded 2.3% higher against the dollar and now trades at $10,315.83 or 1.00000000 BTC.
  • Ethereum (ETH) traded up 0.9% against the dollar and now trades at $180.18 or 0.01747170 BTC.
  • Bitcoin Cash (BCH) traded up 0.4% against the dollar and now trades at $300.80 or 0.02916906 BTC.
  • Litecoin (LTC) traded down 1.2% against the dollar and now trades at $69.81 or 0.00676908 BTC.
  • Monero (XMR) traded up 0.4% against the dollar and now trades at $73.58 or 0.00713530 BTC.
  • UNUS SED LEO (LEO) traded up 0.8% against the dollar and now trades at $1.07 or 0.00010344 BTC.
  • Ethereum Classic (ETC) traded 1.5% lower against the dollar and now trades at $6.25 or 0.00060580 BTC.
  • Zcash (ZEC) traded 0.3% lower against the dollar and now trades at $44.71 or 0.00433599 BTC.
  • Dogecoin (DOGE) traded down 0.6% against the dollar and now trades at $0.0024 or 0.00000023 BTC.
  • HedgeTrade (HEDG) traded 3.8% higher against the dollar and now trades at $0.94 or 0.00009142 BTC.

About Blakecoin

Blakecoin is a proof-of-work (PoW) coin that uses the

Blake-256 hashing algorithm. It launched on October 7th, 2013. Blakecoin’s total supply is 23,377,677 coins. Blakecoin’s official website is www.blakecoin.org. Blakecoin’s official Twitter account is @BlakeCoin.

Buying and Selling Blakecoin

Blakecoin can be traded on these cryptocurrency exchanges: C-Patex and Cryptopia. It is usually not possible to buy alternative cryptocurrencies such as Blakecoin directly using US dollars. Investors seeking to acquire Blakecoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Blakecoin using one of the aforementioned exchanges.

Receive News & Updates for Blakecoin Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for Blakecoin and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter.

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Bitcoin price could plummet back to $8000 according to analysts

Bitcoin Cash (BCH) is down by 1.34% and selling for $297.31 while Litecoin (LTC) has shed 2.46% and trading at $69.19. EOS is also down again by …

Bitcoin (BTC) seems to be on a continuous and monotonous price consolidation as many crypto analysts seek its next direction. Many crypto experts are siding with bears due to the fact that downwards momentum seems most likely. One particular view from a long term trend indicator could result in bitcoin’s price dropping to as low as $8,000 soon.

Bitcoin price set to plummet

Bitcoin’s daily price movement continues to be lacklustre as it has been for the past couple of weeks. BTC’s trading has continued within a continuously tight channel with a break out appearing to be imminent. As per data from CoinMarketCap, bitcoin’s price did briefly break through the $10,200 support yesterday but has since fallen.

At the time of writing, bitcoin is up by a modest 0.89% and trading at $10,175.36 as per figures from CoinMarketCap.

According to analysts, bitcoin has entered into another phase of consolidation around the $10,000 area where it has been trading following a weak Asian session and an uneventful week. Notably, BTC’s daily volume has begun falling again and is currently back at $14 billion.

Famed crypto analyst, Josh Rager recently cited some longer-term exponential moving averages as guidance. BTC’s weekly chart the 20 and 21 EMAs have formed robust support during the OG crypto’s previous rally and could more than likely relive similar behaviour during the current one.

He stated:

“The weekly 20MA and 21EMA on the Bitcoin weekly chart are now well-known indicators that acted as support in the last uptrend. But BTC price did happen to break below the MAs twice roughly -14% & -6%. Currently, the 20MA is near $9,585 and 21EMA is near $9,230”

Rager added that a similar break below these indicators at the current time could result in a drop back to the $8,000 level where there are more than likely many buy orders waiting to happen.

Altcoin markets continue to endure losses

The altcoins markets are not faring much better. Ethereum (ETH) is down once again, albeit by not much, but the number two crypto is down by 0.27% and trading at $178.92.

Ripple’s, XRP coin is also down by a modest 0.74% and trading at $0.254261. Bitcoin Cash (BCH) is down by 1.34% and selling for $297.31 while Litecoin (LTC) has shed 2.46% and trading at $69.19.

EOS is also down again by nearly 2% and trading at $3.68. The biggest losers in the top ten cryptocurrencies are Binance Coin (BNB) which has shed 3.81% and is being sold for $20.74 and Bitcoin SV (BSV) which is down by a notable -4.46% and selling for $117.77.

The only altcoins seeing minor gains are Tether (USDT) which is up by 0.23% and Monero (XMR) which is back up by 1.26% and trading at $72.52.

Be sure to check in again at 14:00 for your daily top ten cryptocurrencies news updates and prices.

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Bitcoin rebounds after falling below $10000

After a shaky past few days, Bitcoin has now seen its ever-weakening $10,000 support line be both tested and broken. When the $10,000 mark finally …

After a shaky past few days, Bitcoin has now seen its ever-weakening $10,000 support line be both tested and broken. When the $10,000 mark finally cracked last night—we saw an initial sell-off take Bitcoin to a low of $9,892.

After the initial dip, the price of Bitcoin rose back up to $10,280 before dipping below the mark again, down to $9,850. Despite the sharp drops, it spent less than one hour below $10,000.

It has since bounced back up to its current value of $10,100—a drop of 2% in the last 24 hours.

During the sell-off, $80 million was liquidated on BitMEX, according to DataMish. This also impacted the amount of open-interest on BitMEX—which represents the number of trades currently active on the platform—back under $1 billion, after it hit this milestone last week.

Looking across all major cryptocurrencies over the last 24 hours—it has been a sea of red—with only Litecoin making modest gains (0.9%) across the top 10 crypto projects.

One week ago, Bitcoin made it all the way up to $11,000. But in the last seven days, it has seen $15 billion wiped off its market cap, as it struggles to maintain any upward momentum.

Despite this, miners are continuing to ramp up efforts, sending Bitcoin’s hashrate to new highs. But with a falling price, that might soon hit a wall.

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