Business 10 months agoGerald Fenech
Cryptocurrency market trades sideways, BTC maintains $10,500 level
The cryptocurrency market continued trading sideways on Tuesday with most of the currencies registering minimal decreases and any gains made were swiftly eroded throughout the day. Legacy Bitcoin (BTC) continued building on the levels it had reached on Monday however with a push for $11,000 also occurring throughout the day, but eventually settled at the $10,600-$10,700 mark. Bitcoin Cash registered a tepid day with minimal movement and was trading between the $1,200-$1,250 mark before settling at around $1,230.
Ethereum saw a relatively quiet trading day with levels of around $880 reached although the currency fell back to the $860 mark and remained there throughout the day. It’s sister currency, Ethereum Classic, also registered a slight decrease and was trading at the $35 mark before dropping back by 5% to trade at $33. It seems that the anticipated Callisto fork, which is due in early March, has had a positive effect on the currency which is the only one to have risen to pre-crash levels.
Ripple and Dash had another disappointing day with both trading sideways and any increase registered was wiped out due to low turnover and poor volumes. XRP is still struggling at the $0.93-$0.95 mark and does not seem to have the strength to go beyond the $1 mark. The latter dropped below the $600 mark and did not appear to be well supported at that level either so further declines could be expected in the not too distant future.
After the botched launch of Litepay on Monday, Litecoin had another rather uneventful day but still lost in value when it traded at around $214, a decrease of around 2%.
Of the currencies with smaller market caps, little could be said apart from Neo which continued registering a good increase to trade at just above $140. However during the day and on Wednesday morning, the Chinese-backed cryptocurrency dropped slightly seeing a decrease of around 5% to trade at around $136. Stellar had another disappointing day when it traded at just over the $0.36 mark.
Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Business 2 hours ago
UK crypto exchange CEX.IO makes KYC mandatory
UK-based cryptocurrency exchange CEX.IO is now requiring all new customers to undergo a mandatory verification process, as part of enhanced anti-money laundering processes. Announced via a press release published by the firm, the London-based exchange ...
Business 3 hours ago
Danish taxman targets 2,700 crypto traders over possible tax evasion
The Danish tax authority Skattestyrelsen is pursuing as many as 2,700 Bitcoin Core (BTC) traders over taxes in connection with as much as $12.7 million of unreported transactions. In the latest crackdown from a tax ...
Business 5 hours ago
What’s in a name? Blockchain Terminal ICO fraudster allegedly has ‘two identities’
The promoter behind the Blockchain Terminal (BCT) initial coin offering (ICO) has been unveiled as a disgraced Canadian fraudster who had adopted a fake persona, in an elaborate scheme that fooled employees as well as ...