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With uncertainty in the cryptocurrency market and a sudden #drop in Bitcoin’s value overnight, investors are again posed with the sell or hold dilemma, but many experts maintain that increased demand for a Bitcoin exchange-traded fund (#ETF) augers well for the flagship digital currency in the long term.
Long-term forecasters say that #Bitcoin has a strong likelihood of becoming a reliable store of value and a viable payment mechanism. Experts point to rising futures volumes and increased institutional participation in #trading as positive outcomes going forward.
Historically, #negative #news hits the market with a crash, such as the #SEC’s rejection of nine cryptocurrency ETFs in August, despite the #US#regulator stressing it “emphasizes that its disapproval does not rest on an evaluation of whether Bitcoin, or #blockchain technology more generally, has utility or value as an innovation or an investment”.
Signs are that despite this latest drop in #market prices, the #cryptocurrencyecosystem is healthy with daily trading almost doubling its total just days ago. Crypto advisory firm Autonomy’s co-founder Ricky Lee suggests, “For our trading activities, the [upcoming Bitcoin Cash] hard fork recently has generated tremendous interest and trading volume, above 4 billion #daily, among #traders.”
With Bitcoin’s value shedding almost USD 1,000 in just a few hours late yesterday, Willy Woo, the founder of data analytics site Woobull suggests that overnight recovery is highly unlikely and the current market trend may continue well into 2019. CNN Bitcoin analysts suggest that USD 5,633 is looking to be the current interim resistance level, but a break below that support would have the effect of scaring off investors. Conversely, a break above this level would suggest a long position at USD 5,712.
Looking for factors as to why the drop #happened, whether it be Bitcoin futures or the Bitcoin Cash fork, there are suggestions that the effect of the sell-offs in tech stocks led by Apple on Wednesday are making their mark on cryptocurrency #prices, although most point to the current uncertainty around so-called #altcoins #Bitcoincash and #Ethereum, both poised for fundamental and controversial changes in development and infrastructure.
Augur Price (REP). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. For this price analysis, we're going to start on the daily resolution. We'll also be using Kraken's USD markets as our frame of reference for the price. Augur Price Analysis In the chart below, we can see a **strong** underlying diagonal uptrend support that's been carying the price for a weeks (at least): ... As first it was occurred in March 2015 and then it got listed on coin market cap in 2015. The price of augur while launched was $1.53 USD. during 2017-18, where all crypto on the moon, REP coin reaches to its all-time high price by reaching $99.80 USD, in which prices 20 cent away from reaching $100 Resistance level. IMPORTANT DISCLAIMER: All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. Augur - US Dollar Chart (REP/USD) Conversion rate for Augur to USD for today is $13.96 . It has a current circulating supply of 5.07 Million coins and a total volume exchanged of $7,548,813
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