• Cryptocurrencies: 3202
  • Markets: 20781
  • Market Cap: $201796399088.88
  • 24h Vol: $57739864067.616

Friday Observations

DLT / News

  • Venezuala’s Petro-pegged currency is set to launch by August 20th.
  • Iran is said to have engaged developers to create their own cryptocurrency to fight US Sanctions.
  • One of the Uber Co-founders is going to be launching their own Zero-fee cryptocurrency exchange.
    • This is set to bring increased competition into the market between Voyager, the new exchange and

BTC

The sudden drop as first reported by CNBC saw BTC drop from $8,300 to $7,900, this caused a selloff in other crypto assets and small tokens in both value and volume. The crypto market lost $11 billion in valuation due to the bitcoin sell-off.

The price fell owing to both the rejection of the ETF, the recent rise of Bitcoin from $6,800 to $8,500 and the delay of the SEC decision on the Bitcoin ETF. The market has been highly optimistic regarding the VanEck-SolidX bitcoin ETF and the Cboe ETF, considering that VanEck and Cboe are strictly regulated and well recognized financial institutions in the US.

Nouvive sees Bitcoin nearing $7,600-700 before taking off again for $8,600, the previous resistance. This fall usually happens following a substantial increase in the value of Bitcoin.

ETH

ETH or Ethereum will see a temporary bounce upwards over the course of the day, before ending the day below $480, marking the 8thConsecutive day, ETH is unable to sway above it.

In order for the Alternative Crypto Asset market to see bullish greens, Ethereum needs to close for three consecutive days in arrow above $500, a figure last saw in late June.

Alternative Crypto Asset Market

  • VeChain saw a 20% increase supported by a strong momentum, airdrop to their token holders and change of ticker name.
  • Other major digital assets experienced a significant drop in price from 5 to 12 percent.
  • BAT, POLY & KMD was unexpected, due to their strong performance through July.
  • Stellar saw an expected drop due to their 40% surge over the course of July.

The price fell owing to both the rejection of the ETF, the recent rise of Bitcoin from $6,800 to $8,500 and the delay of the SEC decision on the Bitcoin ETF. The market has been highly optimistic regarding the VanEck-SolidX bitcoin ETF and the Cboe ETF, considering that VanEck and Cboe are strictly regulated and well recognized financial institutions in the US.

 

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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306

ViFeed Indicators

Bitcoin (BTC)
$7463.73
56.00 RSI
0.80%
Hold
Ethereum (ETH)
$148.9
57.00 RSI
0.28%
Hold
XRP (XRP)
$0.22
44.00 RSI
1.60%
Buy
Tether (USDT)
$1
14.00 RSI
-0.06%
Buy
Bitcoin Cash (BCH)
$211.86
44.00 RSI
-0.27%
Buy
Litecoin (LTC)
$45.27
61.00 RSI
0.76%
Hold
EOS (EOS)
$2.72
60.00 RSI
1.16%
Hold
Binance Coin (BNB)
$15.64
33.00 RSI
0.23%
Buy
Bitcoin SV (BSV)
$96.09
55.00 RSI
1.52%
Hold
Stellar (XLM)
$0.05
30.00 RSI
-1.29%
Buy
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