Home / Crypto Currency / Crypto Price Watch: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Tron (TRX) all See Red as Crypto Markets Continue to Struggle

Crypto Price Watch: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Tron (TRX) all See Red as Crypto Markets Continue to Struggle

At press time, Bitcoin, the world’s largest cryptocurrency by total market capitalization is trading at a respectable price point of $6619.80– thereby signifying a relative increase of less than 1% in its value. Additionally, it is also worth noting that Bitcoin seems to be finding financial stability at long last, with the premier digital asset witnessing a growth of around 3% over the past seven days. Lastly, as things stand, the current market cap of BTC is locked at $112.56 Billion.

Another point worth noting in relation to Bitcoin’s stable market performance is that the alt-currency recently hit a 17-month volatility low— thereby signifying its highest level of stability in more than one and a half years.

Ethereum: Long Term Technical Indicators Suggest Currency Will Witness Bullish Movement Soon

As can be seen from the chart below, Ethereum’s Relative Strength Index (RSI) has been creating a continuous formation of financial peaks and troughs, thus resulting in the creation of a ‘bullish divergence pattern’.

Another point worth noting in relation to Ether’s future is that the currency seems to be gradually creating a ‘head and shoulders chart’ which indicates that bullish movement could be on the charts in the coming days and weeks.

TRON (TRX) Network Surpasses Ether in Terms of Daily Transaction Volume

Tron has been one of the most visible blockchain platforms in the world over the past year or so. While just one year old, the project has already achieved most of its major milestones (that had been envisioned in the company’s initial roadmap). For starters, the project successfully migrated to its native mainnet earlier this year, as well as entered into a host of partnerships thanks to Founder Justin Sun’s amazing online presence and regular crypto activism.

However, recently Sun made a massive announcement that caught the attention of the global crypto community at large when he said that the daily transaction volume of the TRX network had surpassed that of Ether’s.

It is also worth noting that the transaction spike was not an anomaly since the TRON network has now breached ETH’s daily transaction volume for a few days running. Closing out his Twitter message barrage, Sun stated that this was just the beginning of something huge and that that there were “better things in store for everyone in the coming few months”.

Tether Makes Impressive Recovery After Falling Heavily

Another top-10 altcoin that sent its investors into panic mode recently is Tether (USDT) after it found that the currency’s value declined and stooped to around the 85 cent mark. However, as soon as the currency made its plunge, it then proceeded to once again move upwards, with the altcoin once again trading for $ 0.978.

As many of our readers may already know, Tether is a ‘stablecoin’ whose value is pegged to the US dollar at a ratio of 1:1 (so as to ensure long-term stability for the digital asset).

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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