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06 Sep 2019
3 min read

Bitcoin continues to hold firm

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Written by OspreyFX News Team

OspreyFX Crypto Market Roundup: Bitcoin continues to hold firm

The crypto markets continue to hold firm against possible drops with several currencies rising in value. Legacy Bitcoin was up by around 2% to the $10,700 level with turnover on the rise. Ethereum was also on the up albeit with a rather small movement of around 0.5% up to the $174 level.

According to recent analysis, around 75% of Bitcoin holders are actually in profit although the outlook remains bearish. Additionally, Crypto markets didn’t seem to be much affected by the rise in stock markets. With the Dow Jones, Nasdaq and S&P up by around 1.5% each, there was some speculation that this positive might spill over to the cryptocurrency world, but this was not the case.

 

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Most coins hold on to previous levels

Ripple continued in a static mode where it barely moved from the $0.256 level whilst EOS was also stable at the $3.30 level. Bitcoin Cash recovered slightly from its retreat earlier in the week and was trading at around $294 at press time on Friday. Litecoin was static at around $67 with the halving at the end of August having little effect on the price. Ethereum Classic retreated slightly from its bi-monthly highs and settled at the $6.95 mark at press time. Binance Coin recovered strongly from its recent slump and was up by around 5% to the $22.70 mark.

CHZ pumps on Binance

Other smaller market caps had mixed fortunes with ALGO being an exception where it rose by around 9% to the $0.38 mark. Cardano was down by 2% to the $0.043 level whilst NEO regained the $9 level on the back of a 1.3% increase. Another massive performer was CHZ which just listed on Binance with the price pumping by no less than 48% to the $0.01 level.

Privacy coins also did well with Monero up by 4% to the $78 mark whilst IOTA went the other way with a 2% decrease to the $0.2395 level. ZEC was static at around $45 whilst DASH continued stable at the $81 mark.

Disclaimer: This is not investment advice. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.