Bitcoin Stuck Around $3,400 as the Stock Market Sees a Minor Downturn


For more news latest update on Cryptocurrency, Free Bitmex Crypto Trading Signal & BitMeX auto Trading BOT join below given Telegram channel
  Visit - https://t.me/freebitmexsignals
Thursday, Feb. 7 — most of the top 20 cryptocurrencies are reporting slight to noteworthy gains on the day by press time, with Bitcoin (BTC) hovering just over $3,400 again, according to Coin360 data.

 According to TransactionFee data, there haven’t been so many Bitcoin transactions per day — currently over 336,000 — since January 2018. However, the current transaction volume is still close to 20 percent lower than the all-time high of over 406,000 transactions per day, reported in December 2017.

 Top altcoin Ripple (XRP) has gain the same modes amount as Bitcoin in the 24 hours to press time and is currently trading at around $0.293. On its weekly chart, the current price is over 5 percent lower than $0.308, the price at which XRP started the week.


Ethereum (ETH), the second-largest altcoin by market cap, has seen its value increase by just a quarter of a percent over the last 24 hours. At press time, ETH is trading around $104, after having started the day at $103. On the weekly chart, Ethereum’s current value has dropped 2.3 percent from $107, the price at which the coin started the week.

 Ethereum 7-day price chart

 Ethereum 7-day price chart. Source: CoinMarketCap

 Among the top 20 cryptocurrencies, the ones experiencing the most notable growth are NEM (XEM) — up 9.76 percent — Iota (MIOTA) — up 4.3 percent — and Ethereum Classic (ETC), up 3 percent on the day.

 The stock market is seeing a minor downturn, with the S&P 500 down 1.5 percent today and Nasdaq down 1.49 percent. The CBOE Volatility Index (VIX) on the other hand has gained 10.7 percent of its value on the day at press time.

 As Cointelegraph recently reported, a recent analysis suggests that the growth recently reported by the stock market is a bull trap.

 Major oil futures and indexes are seeing mixed market movements, with WTI Crude down 3.74 percent, Brent Crude down almost 3 percent. Mars US, on the other hand, is up 1.1 percent, Opec Basket up 0.4 percent and the Canadian Crude Index down 6.76 percent, according to oilprice.com.

 In Venezuela, Bitcoin trading volumes have reached a new all-time high on peer-to-peer exchange LocalBitcoins, amidst massive hyperinflation and an ongoing presidential crisis

 Also today, news broke that cryptocurrency investment and analysis firm Fundstrat Global Advisors warned that crypto markets could soon hit even lower lows and continue their record-long bear market.

Popular posts from this blog

Co-Founder of Brazilian Crypto Exchange Foxbit Passes Away at 24

For more latest news update Cryptocurrency training Crypto trading signals & automated trading software join below given telegram channel                    https://play.google.com/store/apps/details?id=com.freecryptosignals.app                      Join- https://t.me/btctradingclub                                     Join- https://t.me/freebitmexsignals  Luís Schiavon, known as Guto, the co-founder of popular Brazilian cryptocurrency exchange Foxbit, has passed away on December 25 after being involved in a car accident in São Paulo, Brazil. According to local news outlet G1, the accident involved three vehicles and occurred due to poor weather conditions. The driver of the car Guto was in reportedly lost control and ended up being hit by a vehicle coming in the opposite direction. Right after, a truck that wasn’t able to move away hit the vehicle. Four individuals were rescued by emergency services and sent to the hospital, two in serious condition. Guto ende
Read more

Germany's Central Bank Claims Success in Blockchain Settlement Trial

            Join- https://t.me/btctradingclub         Join- https://t.me/freebitmexsignals https://play.google.com/store/apps/details?id=com.freecryptosignals.app For more latest news update Crypto currency training Crypto trading signals & automated trading software join above given telegram channel Deutsche Bundesbank, Germany's central bank, and Deutsche Börse, owner of the Frankfurt Stock Exchange, have completed a blockchain trial investigating the technology's potential in securities settlement. The two announced in a joint press release on Thursday that two blockchain prototypes built to their specifications had "successfully" supported the settlement of securities transactions, payments (including interest) and bond repayments at maturity. The project got started in March 2016, when both parties launched BLOCKBASTER (for blockchain-based settlement technology research) project – aimed to create "a conceptual prototype" for blo
Read more

Binance CEO Comments on Binance Chain, Bitcoin ETFs, Decentralization, Ripple, and XRP

For more news latest update on Cryptocurrency, Free Bitmex Crypto Trading Signal & BitMeX auto Trading BOT join below given Telegram channel   Visit - https://t.me/freebitmexsignals On Thursday (February 7th), Changpeng Zhao (also known simply as "CZ") held his first Q&A session on Periscope. This article features the main highlights, including his comments on Binance Chain, Binance DEX, Bitcoin ETFs, decentralization, Ripple, and XRP. Binance Chain and Binance DEX Q: How mny validator nodes will Binance Chain run? A: "I think for the testnet, we elect to run 11 test nodes. I think any number is fine. The number of validators in our network will be small, mainly for performance reasons. So, it will not be as big as a Bitcoin network with thousands of nodes. It's going to be more like NEO or even Ripple... Smaller number of nodes, and each node will be rather large. " Q: Where does the gas and fees collected by the nodes go to? A: So, ri
Read more