Business

Gerald Fenech

Crypto market daily report – September 7, 2018

The cryptocurrency markets registered a slight revival on Friday with most of the major currencies showing a small increase overall. BTC remained mired at the $6,500 level, a full 12% off its weekly high of $7,400. There has been a lot of mystery surrounding Wednesday’s huge fall across the board, but it seems that “fake” news regarding a Goldman Sachs trading desk and market manipulation could be behind the sudden crash in the crypto markets with BTC leading the way.

Bitcoin Cash registered a 5% increase to trade at around $520 at press time, but turnover appeared to be weak with selling pressure probably putting the price down further. Ripple showed a good 5% increase to regain the $0.30 barrier, whilst Ethereum continued its weak recovery, trading at the $227 level which is considerably below its weekly high of $300 and a level not seen since October 2017.

EOS was up by around 5% to retain the $5.20 level and perhaps begin a push towards the $6 mark, whilst Litecoin was trading at the $57 mark with a push towards the $60 level seen as imminent. Currencies with smaller market caps began strong recoveries and were almost at levels last seen earlier this week. NEO was up by over 10% to the $20.50 mark, whilst Stellar achieved a more modest 5% gain to trade at the $0.21 level at press time. IOTA also registered an impressive 12% gain to reach the $0.59 mark at press time on Friday, whilst Cardano registered a much more modest 4% increase to the $0.086 level, which is almost 100% below its highest level of $0.50 achieved earlier in the year.

Other currencies had somewhat different fortunes although all were up from Thursday, with ONT registering a 10% increase to the $2.00 mark. VET was up by 7% to the $0.016 mark, whilst ICX registered a similar 6% increase to the $0.74 level. Ethereum Classic was up by around 5% to just below the $12 level.

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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