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Markets Update: Bloody Crypto-Markets Suffer More Losses

August 14, 2018 |

Markets Update: Bloody Crypto-Markets Suffer More Losses

Leading up until this Tuesday a great majority of cryptocurrency markets have lost considerable value over the past few days. Since our last markets update this past Saturday, the overall cryptocurrency capitalization as a whole has dropped significantly by losing $ 20 billion USD. All eyes will surely be fixed on digital asset charts this week as there’s been a plague of bearish market sentiment cast over the entire crypto-economy.

Also read: Coingeek Speaks on Consensus Changes and Next-Gen ASIC Chip 

There’s Blood in the Crypto-Streets

When it comes to cryptocurrency markets today on August 14, there’s an awful lot of ‘blood in the streets.’ During yesterday’s trading sessions, the entire cryptocurrency economy dropped under the sub-$ 200B zone and today the valuation is hovering around $ 195-199B. This is due to the extreme losses many digital currencies have suffered through over the past three days. A great majority of coins are seeing losses between 3-25 percent today as many assets have touched their previous bottoms or lower. Overall trade volume this Tuesday has increased, likely because prices are so low right now, and over the last 24-hours around $ 15.9B cryptocurrencies have been traded.

Markets Update: Bloody Crypto-Markets Suffer More Losses
The top ten digital assets today on August 14, 2018, at 10 am EDT.

Bitcoin core (BTC) has been able to dodge a lot of the downward blows as the currency has lost a lot less percentage wise than most other coins. This has led to BTC dominance or its market capitalization measured in comparison with the entire crypto-economy valuation to spike upwards of over 54 percent. Out of the top ten digital assets, cardano (ADA) has taken the biggest blow and has sunk to the 8th highest position because it lost over 16.8 percent in value over the last 24-hours. The price of ADA has dipped to around $ 0.09 per coin at the time of publication.

Markets Update: Bloody Crypto-Markets Suffer More Losses
Out of the top ten digital assets, cardano (ADA) has lost the most over the last 48-hours.

This is followed by the second biggest top ten loss with ethereum (ETH) seeing its market value lose 16.1 percent today with one ETH trading for $ 268. The third largest top ten loss today belongs to EOS as its markets are down 13.7 percent with one EOS trading for $ 4.44 per coin.

Bitcoin Core Market Action

Bitcoin core markets are down 3.94 percent today, and the cryptocurrency has been fighting to hold above $ 6,050-$ 6,175 per coin over the last day. Last night the BTC/USD price dropped to $ 5,880 coming awfully close to the currency’s assumed bottom at $ 5,774. Today BTC trade volume over the last day has been fairly decent at $ 5.5B and the currency’s entire market valuation is about $ 106B at press time.

Markets Update: Bloody Crypto-Markets Suffer More Losses

The top five exchanges swapping the most BTC includes Bitflyer, Okex, Bitfinex, Binance, and Coinbene. The trading pairs seeing the most swaps today with BTC includes tether (USDT 50.2%), USD (26.5%), JPY (11.3%), EUR (4.7%), KRW (2.4%) and bitcoin cash (BCH 1.88%).

Markets Update: Bloody Crypto-Markets Suffer More Losses
BTC/USD 4-H, August 14, 2018, 10 am EDT Coinbase.

Bitcoin Cash (BCH) Market Action

Bitcoin cash markets have seen a 24-hour loss of around 15 percent today and the currency’s market capitalization is around $ 8.5B. At the moment bitcoin cash is trying to stay above $ 490-515 at the time of writing but bulls have been struggling. Last night BCH dipped to a low of $ 472 on Bitstamp, but trade volume had spiked over $ 400M+ pushing the price back up after the drop.

Markets Update: Bloody Crypto-Markets Suffer More Losses

The five leading bitcoin cash exchanges today include Coinex, Okex, Binance, Hitbtc, and Bitfinex. The currencies that are currently being traded with bitcoin cash the most includes tether (USDT 49.1%), BTC (27%), USD (13.1%), QC (2.83%), ETH (2.79%), and the KRW (1.88%).

Markets Update: Bloody Crypto-Markets Suffer More Losses
BCH/USD 4-H, August 14, 2018, 10 am EDT Bitfinex.

The Verdict: Volatile Markets and Heavy Losses Increase Uncertainty

Digital asset markets have been wild over the past few weeks and many traders seem uncertain about where the ‘good-ship-crypto’ will go from here. 2017 was an exceptional year and the past seven months of 2018 has been literally the exact opposite as far as cryptocurrency values are concerned. The cryptocurrency economy as a whole has lost considerable value which in turn is brewing deep skepticism towards the future of certain crypto-markets. For now, most traders remain uncertain of where things will go and many are praying they played their positions correctly in hopes they don’t get squeezed. At the moment digital asset prices are starting to see a slight recovery after the significant losses last night. 

Where do you see the price of BTC, BCH and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Images via Shutterstock, Trading View, and Satoshi Pulse.

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The post Markets Update: Bloody Crypto-Markets Suffer More Losses appeared first on Bitcoin News.

Bitcoin News

Kids are shopping online more. Here’s how brands are courting them

August 13, 2018 |

Nine-year-old Isabella Colello shops for just about everything online.

She scrolls through the Amazon app on her phone at least once a day. She gets ideas from YouTube, searches on Google for things she wants and sends the links to her dad: pink swimsuits, earrings, Adidas sneakers (he said yes);…

L.A. Times – Business

California’s heat wave is making lemons far more expensive

August 10, 2018 |

The lemon slice for your iced tea is set to get more expensive, and you can blame California’s scorching weather for that.

The hot conditions that helped spark deadly wildfires in California also are taking a toll on the state’s citrus crop. Although groves have largely been spared from the blazes,…

L.A. Times – Business

Trade war: China retaliates, announcing tariffs on more U.S. goods will start Aug. 23

August 8, 2018 |

China on Wednesday showed no signs of backing down in its escalating trade war with the U.S., announcing that it will begin imposing additional 25% tariffs on $ 16 billion of American goods starting Aug. 23.

The announcement by China’s Commerce Ministry came a day after the Trump administration…

L.A. Times – Business

CVS Gets a Boost From More Prescription Sales

August 8, 2018 |

CVS Health reported higher revenue in the latest quarter as the pharmacy chain benefited from prescription volume growth by expanding relationships with pharmacy-benefit managers and health plans. US Business

For Deployed US Troops, No More Fitbits

August 8, 2018 |

The Pentagon has restricted the use of fitness trackers by deployed personnel after an app revealed the movement of troops in sensitive areas. Per CNN , Deputy Defense Secretary Patrick fitShanahan issued a memo barring use of the technology six months after a fitness tracking company called Strava released a global…

U.S. sets Aug. 23 date for issuing duties on $16 billion more in China imports

August 7, 2018 |

The U.S. said it will begin imposing 25% duties on an additional $ 16 billion in Chinese imports in two weeks, escalating a trade war between the world’s two biggest economies.

Customs will begin collecting the duties on 279 product lines, down from 284 items on the initial list, as of Aug. 23,…

L.A. Times – Business

Poor Russians More Aware of Crypto Than the Rich, Poll Finds

August 7, 2018 |

Poor Russians More Aware of Crypto Than the Rich, Poll Finds

A recently conducted survey has produced interesting results regarding how much Russians know about cryptocurrencies. People with lower incomes have been found to have a better idea of digital money than their rich compatriots. At the same time, general awareness of cryptos seems to be falling along with their prices.

Also read: Crypto Markets Moods Change Two Months After New Trends

Number of Crypto-Aware Russians Drops

The majority of Russians do not quite understand what cryptocurrency is and have no intentions to acquire digital assets, according to a new poll released by Romir Holding, one of Russia’s largest market research companies. The survey has been carried out among 1,500 adults, 18 years and up, from across the vast country to determine how important the crypto topic is for Russians these days.

Poor Russians More Aware of Crypto Than the Rich, Poll Finds“It became clear that despite the increased attention to the matter, less than half of Russians have any idea about cryptocurrencies – 44 percent. At the same time, a large portion of the respondents – 56 percent – said they did not know what that was,” noted the authors of the study, quoted by RIA Novosti. They found that 31 percent of the respondents had an “approximate idea” of what cryptos are but admitted they didn’t have an accurate and clear understanding of these financial assets.

The results also suggest that the number of crypto-aware Russians is dropping, probably along with the prices of the digital coins this year. 56 percent of the respondents in an earlier poll, published in January by VCIOM, said they knew about Bitcoin. The results for active internet users were even higher – 66 percent: men – 71 percent, residents of Moscow – 74 percent, and young Russians – 75 percent.

Poor Russians Know More About Cryptocurrency

The ability of cryptocurrencies to provide people of lesser means with permissionless access to a financial system is a well-known characteristic that many around the world are taking advantage of. Ask people in inflation-hit Zimbabwe, Venezuela, or Argentina. The latest Russian crypto survey has made another interesting discovery regarding the attitudes of rich and poor towards the crypto space.

According to the researchers at Romir, the respondents from the lower income bracket – less than 10,000 rubles (~$ 160) monthly per family member – are more likely to understand cryptocurrencies (38 percent), compared to the group of the rich – those with 25,000 rubles per family member – where the share of the knowledgeable, at just 26 percent, is smaller than the average.

Poor Russians More Aware of Crypto Than the Rich, Poll Finds

The poll has also found that only 13 percent of those questioned know and understand the principles of how cryptocurrency works. These are mostly young people, between 18 and 24 years of age (27 percent), and also Russians that are 25 – 31 years old (21 percent). Among those who are well aware of digital money, men are twice as many as women – 18 percent compared to 9 percent.

Majority Not Willing to Buy Crypto Now

Poor Russians More Aware of Crypto Than the Rich, Poll FindsUnfortunately, even among those with a decent understanding of cryptocurrencies, there aren’t too many willing to buy these assets at the moment. 87 percent said they were not planning to acquire cryptocurrency, while 11 percent don’t mind buying. Only 2 percent of the participants in this particular survey confirmed they currently own digital coins.

The majority of Russians who own cryptocurrency, 75 percent, said they bought it with the goal to make a profit from their investment, which more than half of them managed to accomplish. Another 24 percent wanted to possess virtual money out of a desire to be part of the modern trend.

Around 16 percent needed cryptos to pay for goods and services and 15 percent admitted their decision to buy was influenced by media coverage and ads. Most respondents purchased either bitcoin (BTC) or ethereum (ETH), with BTC favored fivefold.

Do you think the level of awareness of cryptocurrencies is influenced by prices and market trends? Share your thoughts on the subject in the comments section below.

Images courtesy of Shutterstock, Blockinpress.

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The post Poor Russians More Aware of Crypto Than the Rich, Poll Finds appeared first on Bitcoin News.

Bitcoin News

Homeowners have more equity than ever but don’t want to tap it

August 7, 2018 |

Homeowners are sitting on a record amount of equity, but this time they’re stubbornly reluctant to borrow against it.

Strong home price appreciation has handed Americans more than $ 5.8 trillion of equity they could be tapping and aren’t, more than double the level in 2011, according to data provider…

L.A. Times – Business

More than 90 killed after 6.9 magnitude earthquake strikes Indonesia’s Lombok Island, near Bali

August 6, 2018 |

A powerful earthquake near the popular tourist mecca of Bali killed at least 91 people and wounded hundreds more, damaging thousands of homes and other buildings as people were seen running into the streets screaming.
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