Crypto market daily report – August 23, 2018
The cryptocurrency market experienced another downturn on Wednesday afternoon and Thursday morning, with most major currencies seeing the gains made on Tuesday vanish within a matter of a few hours.
The cryptocurrency market experienced another downturn on Wednesday afternoon and Thursday morning, with most major currencies seeing the gains made on Tuesday vanish within a matter of a few hours.
The cryptocurrency market appeared to be in a state of flux with most coins experiencing sharp downturns.
Some people believe that the crypto market can change depending on the attention it gets on social media platforms. This idea has been supported by a recent study conducted by researchers at National Bureau of Economic Research (NBER).
Bitcoin Cash recovered well and was trading at around the $510 level, which means an increase of around 6% over a 24-hour period.
Bitcoin Cash did not proffer much movement and was trading at around $690 at press time—quite close to its yearly low with spiralling turnover.
The cryptocurrency market continued its decline on early Friday morning as a negative sentiment seemed to prevail over all the Top 10 coins.
The cryptocurrency markets continued their positive trend in the past 24 hours with most of the Top 10 coins showing good gains.
Bitcoin Cash traded up as much as 10% to the $870 mark before easing back slightly to register $850 at press time.
Bitcoin Cash was up by around 5% to trade at the $820 level at press time on Monday with a further push expected.
Bitcoin Cash experienced a slight pull back to below the $800 level and even went as far as the $760 level, but the currency then experienced a mini rally with the price settling at just under the $800 mark on Friday morning.
Bitcoin Cash recovered very well from its sub $700 levels and was trading at $721 at press time on Monday after having reached the $730 level on Sunday.
The cryptocurrency markets continued their steep decline on Tuesday afternoon and Wednesday morning with all major currencies dropping by large margins that varied between 5% and 10%.