Analysis of prices for Bitcoin, Ethereum, XRP
Over the past day, trading volumes have significantly decreased and the pair's volatility has decreased. The price is located in a narrow sideways range, the upper border of which is the blue trend line, and the lower one is in the area of the level of 12800.00 USD. Yesterday, in the first half of the day, buyers still somehow tried to break above the trend line on small volumes, but towards evening the pair rolled back to the lower border of a narrow sideways range. Tonight the price almost did not leave the level of 12930.00 USD, and in the afternoon buyers will again try to break through the blue trend line and test the 61.8% fibo level (13346.30 USD). If the volume of purchases is below the average level, then this Fibonacci level will turn the pair downward.
Bitcoin Price Drops Below
Bitcoin Price Drops Below $ 11,500: Rally Canceled? On Tuesday, August 25, Bitcoin dropped below $ 11,500 as volatility escalated again. At the $ 11,400 level, support did not strengthen, which led to a more significant pullback. On some trading floors, BTC fell to $ 11,250, however, then a rebound followed. On Wednesday night, the largest digital currency is trading at $ 11,339. Bitcoin's capitalization has dropped to $ 209.451 billion. The value of all cryptocurrencies on the eve fell by more than $ 8 billion to $ 352.653 billion. The largest altcoin ether (ETH) fell to $ 379, it suffered the largest losses from the top ten cryptocurrencies, having fallen in price over the past 24 hours by more than 6%.
SBI Holdings will launch CFDs for Bitcoin, Ethereum and XRP
SBI Holdings will launch CFDs for Bitcoin, Ethereum and XRP. On August 31, Japanese financial conglomerate SBI plans to launch CFD trading on Bitcoin, Ethereum and Ripple against the Japanese yen and US dollar on the SBI FX Trade platform. Cointelegraph reports with reference to the company's statement. A month earlier, such a service was offered by the Japanese online broker Monex Group. At the same time, Bitcoin CFDs were added by the Liquid trading platform. Financial conglomerate SBI is known as a key partner of Ripple. In 2016, they created SBI Ripple Asia, which promotes the use of XRP in Asian financial Tumbler. SBI also plans to integrate Ripple-based MoneyTap payment application into ATMs in Japan. We will remind, earlier analysts published the financial indicators of Japanese cryptocurrency exchanges for the 2019 fiscal year. Subscribe to ForkLog news on Telegram: ForkLog FEED - the entire news feed, ForkLog - the most important news and poll.
Ethereum cryptocurrency fell 20%. Investing
Ethereum was trading at $ 320.10 at 21:54 (18:54 GMT) on the Investing.com Index on Saturday, down 20.38% on the day. This was the biggest drop in cryptocurrency value since March 12. The drop also triggered a drop in Ethereum's market cap to $ 37.45B, or 11.72% of the total cryptocurrency market cap. While earlier at the peaks, Ethereum's capitalization was $ 135.58B. Ethereum has traded in the range of $ 319.30 to $ 394.12 in the past 24 hours. Over the past 7 days, the Ethereum cryptocurrency has experienced a drop in the rate within the limits of 17.22%. The volume of Ethereum currency traded in the last 24 hours prior to the publication of this material was $ 23.98B or 14.68% of the total volume of all cryptocurrencies. It has traded in a range of $ 319.2988 to $ 488.2359 in the past 7 days.
Small businesses in Africa
Small businesses in Africa have found a real use for bitcoin: entrepreneurs pay with cryptocurrency to suppliers. Small businesses in African countries have found practical use for bitcoin and thereby provoked a "quiet bitcoin boom" on the continent, writes Reuters. Entrepreneurs use cryptocurrency to settle with suppliers in other countries. The journalists interviewed 20 bitcoin users and five crypto brokers. Abolaji Odunjo sells phones and accessories in Lagos, a major city in Nigeria, and purchases goods from suppliers in China and the UAE.
Traders relied on the growth of the bitcoin rate
Traders relied on the growth of the bitcoin rate to $ 36,000 in 3 months. The most requested options on the Deribit exchange last Sunday were deals with a strike price of $ 36,000. On September 13, 752 such contracts were concluded. In second place are options with a strike price of $ 32,000, there were 462, writes CoinDesk. By themselves, options with a strike price of $ 36,000 are relatively cheap for buyers, which may have motivated them to open. The deals for the purchase of such contracts took place on the weekend, when the liquidity was low. According to Skew, market participants assess the chances of Bitcoin's rise to $ 20,000 by the end of the year as extremely low. The estimated probability of exceeding the level of $ 20,000 is 5%, $ 28,000 - 2%.