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Basic Attention Token Price Plummets as Coinbase Trading Triggers Massive Selloff

Even though plenty of people had high hopes for Basic Attention Token, the market’s true colors are becoming apparent. After massive uptrends due to the Coinbase listing announcement, the actual trading of BAT has caused an adverse effect. A massive dip in USD, BTC, and ETH value has been recorded over the past few hours, and things are only growing worse.

Basic Attention Token Price Goes Belly Up

It is quite evident the demand for Basic Attention Token is not what most people expected whatsoever. After a few weeks of solid upward price momentum, things have significantly turned around. While that doesn’t necessarily mean BAT will not go through another uptrend in the future, it is evident the current price is closer to reflecting the real value of Basic Attention Token.

Over the past 24 hours, there has been a 16% net loss in BAT’s USD value. Combined with a 15% loss over both Bitcoin and Ethereum, things are not necessarily looking all that great just yet. In fact, there are plenty of warning signs things might take another turn for the worse moving forward. The demand for BAT simply is not there now that the asset is effectively trading on Coinbase, for some unknown reason.

As is usually the case, there is a genuine excitement when an exchange announces they will list a specific token. In the case of Basic Attention Token, its announced listing on Coinbase has been pretty significant. Unfortunately, it seems things have turned around now that the trading has effectively commenced. That is not uncommon among altcoins, as speculators buy the hype and sell the news, so to speak.

Despite the current Basic Attention price trend, it seems there are those who still remain confident things are looking pretty good. Although the views by Crypto Bushido are not positive per se, it is evident one has to acknowledge opportunities when they arise and disappear. That is rather unfortunate for BAT holders right now, but it is possible things will turn around fairly soon.

Mass Adoption, on the other hand, simply likes to state facts as they present themselves to him. In this particular case, the listing of Coinbase has become all but irrelevant due to how the markets has responded in the process. Most people’s hopes may have been crushed, but those with some knowledge knew all too well this reversal was bound to happen sooner rather than later.

Although Basic Attention Token still has plenty of trading volume right now, it is evident most holders want to sell, rather than buy. That momentum, so close to the weekend, is not exactly promising, but it is how things stand right now. Whether or not the BAT price can remain close to $0.3 or will drop to $0.25 in the coming days, remains difficult to predict.

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.

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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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