Business

Gerald Fenech

Crypto market daily report – May 8, 2019

After a relatively positive Tuesday, the cryptocurrency markets lost ground on Wednesday morning with Bitcoin Core (BTC) seemingly rejected at the $6,000 mark. In fact, the coin was down by around half a percentage point and was trading at the $5,920 mark at press time, although turnover appeared to be quite high. Ethereum (ETH) retreated considerably from its spike on Tuesday and was trading at around the $171 mark on Wednesday—down from the $180 mark which it reached on Tuesday. Bitcoin SV (BSV) also lost ground albeit at a rather marginal 1% decline to just below the $53 mark.

All major coins also saw considerable retreats with BCHABC down by around 3% to the $287 level after having flirted with the $300 mark on Tuesday, whilst Litecoin (LTC) was also down by a similar margin to the $74.50 level. Ripple (XRP) continued its flat performance with a 1% decline to the $0.30 level, whilst Cardano (ADA) experienced a considerable drop of around 4% to trade at the $0.065 mark at press time. NEO once again fell below the $9 mark to the $8.93 level or a drop of 4%, whilst Stellar Lumens (XLM) was down by 5% to the $0.093 level. IOTA was down by 2% to the $0.273 mark. EOS was perhaps the best performing among the larger market cap coins as it was only down by 1% to the $4.92 level.

Currencies with smaller market caps also experienced a decline with NANO losing all the gains of the past 24 hours on the back of a 7.5% drop. Ethereum Classic (ETC) was down by 2.5% to the $5.70 mark, whilst BAT lost a similar amount to trade at the $0.33 mark. ATOM continued declining rather spectacularly after all the previous hype surrounding it and was down by almost 10% to the $4.48 mark. WAVES, FET and ONT were down from between 8% and 2%, whilst DASH and MATIC were down by 4% and 10% respectively.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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