The market has been relatively calm throughout the past seven days, and it failed to deliver any substantial increase (or decrease) in most of the cryptocurrencies, including Bitcoin. Starting with the BTC price, it’s more or less where it was this time last week – slightly below ,000. To be fair, the cryptocurrency is down around 0.8% over the past seven days, and it wasn’t for the past day, the week looked as if it never happened. The price hovered around K in search of a direction and never finding it. This all seemed about to change yesterday evening when BTC shot up to ,500. The bulls were completely unable to maintain the momentum (if it can be called that), and the bears pulled it back below K, where it currently trades. The same is true for most of the
Topics:
George Georgiev considers the following as important: Bitcoin (BTC) Price, BTCEUR, BTCGBP, btcusd, btcusdt, featured1, Market Updates
This could be interesting, too:
Chayanika Deka writes Bitcoin Breaks Daily Transaction Record Days After Halving
Chayanika Deka writes Bitcoin Cannot Grow Without the Spot Bitcoin ETFs: Report
Jordan Lyanchev writes Altcoins Crash Once More as Bitcoin (BTC) Slips to K (Weekend Watch)
Andrew Throuvalas writes Strike CEO Predicts Million BTC Amid COVID-Level Money Printing
The market has been relatively calm throughout the past seven days, and it failed to deliver any substantial increase (or decrease) in most of the cryptocurrencies, including Bitcoin.
Starting with the BTC price, it’s more or less where it was this time last week – slightly below $26,000. To be fair, the cryptocurrency is down around 0.8% over the past seven days, and it wasn’t for the past day, the week looked as if it never happened. The price hovered around $26K in search of a direction and never finding it. This all seemed about to change yesterday evening when BTC shot up to $26,500. The bulls were completely unable to maintain the momentum (if it can be called that), and the bears pulled it back below $26K, where it currently trades.
The same is true for most of the cryptocurrencies, all of which chart either very slight increases or decreases within the past seven days, all in the range between -2% and +2%, with no exceptions from the top 20.
With US holidays happening and the beginning of September generally being a time when a lot of people are still on vacation away from work, there haven’t been any major developments. In some more notable headlines, Ripple pushed for an important update that would see the integration of two major features on its network. It has to pass approval by the validating community, though, which is a relatively long process.
All in all, the market is searching for a direction.
There’s no telling when that direction will be found, though. The volatility is currently absent, which tends to happen during bear markets. But on the bright side – when things are calm, interesting products are being built, paving the way for the next big push forward.
Market Data
Market Cap: $1.09B | 24H Vol: $118B | BTC Dominance: 46.4%
BTC: $26,075 (-11%) | ETH: $1,664 (-10%) | BNB: $217 (-9.7%)
How Grayscale’s Win Will Reshape the Crypto Industry According to Experts. There are some experts in the cryptocurrency industry who seem to believe that if Grayscale wins against the US Securities and Exchange Commission, it would be a reshaping event for the entire industry. Here’s why.
Can a Government Shutdown Affect the Crypto Market and Prices? (Opinion). In this article, the author takes a closer look at whether or not a Government shutdown might affect the cryptocurrency market. Do investors have to consider something specific amidst the ongoing uncertainty?
Bitcoin Miner Gets Paid Nearly $32 Million To Reduce Mining Rate This August. Find out how one of the largest Bitcoin miners used the Texas electricity grid policy to make $32 million in August. It appears everything works out when you have things planned properly.
Ripple Pushes For an Update With 2 New Features for XRPL: Everything You Need to Know. Ripple is pushing for an update. If the validating community accepts it, the new version would see the implementation of two important features to the XRPL. Read more.
Fourth FTX Executive Pleads Guilty In FTX Fraud Case. The FTX case continues to unravel, and more people are pleading guilty by the day, confirming the notion that the SBF-led operation was tremendously mismanaged. This week, a fourth executive admitted guilt in the case.
November 28th is a Critical Date for Bitcoin’s Price: Here’s Why. It appears that there’s one very important date for Bitcoin’s price to keep tabs on – November 28th. Several analysts chip in with interesting theories, which all look at this date and why it is so critical.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Shiba Inu, and Tron – click here for the complete price analysis.