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XRP, Bitcoin Cash, and Bitcoin fall despite speculations for a significant rise

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The crypto market has been unstable for some time now, and as it seems, it is unpredictable. The total market cap of the crypto market has decreased by a slight percentage (stands at $194.30B currently). It was expected that the major players including XRP, Tron, Bitcoin Cash and the king itself (Bitcoin) could recover today, but the results have been inverse so far.

An in-depth look at what’s happening with Bitcoin and other cryptocurrencies right now

Last week the price of Bitcoin seemed oversold by the Williams %R – a technical oscillator that shows if a crypto asset is overbought or oversold.

Olga Kharif from Bloomberg stated that the Williams %R of BTC is moving above -83%. It is important to add that -83 to -100 indicates oversold. Even a Bitcoin rebound was speculated, lots of crypto experts say that the oversold state of Bitcoin shown by the Williams %R speculates that a rally could be upcoming which could shoot the price of Bitcoin up to the resistant level of $6900.

More importantly, lots of traders and investors were hoping this will happen, thus, making gains to be accumulated – but that hasn’t been the case.

For Bitcoin, it is rallying around $6330 at the moment. Its price has dropped from US$6,523.22 to $6,332 recording a decrease of 2.64% in the last 24 hours – even though the crypto-king was drastically oversold last week. This may be probably due to the market manipulation.

Bitcoin is still under the $8400 resistance level. The main catalyst for a sell-off at the first week of September was probably due to the cryptocurrency wallet that was dormant for four years, and then some Bitcoins were deposited into the same wallet.

Since the price of Bitcoin majorly affects other cryptocurrencies, its volume is a major concern to every crypto trader. It is also important to note that the volume of Bitcoin has dropped by a total of about 30% in 3 days. Also, at the time of writing, the 24-hour trading volume of Bitcoin is still under $3.8 Billion whereas it was $4 Billion last week.

Ethereum has dropped by a clear margin, too. Although, the current trend in the market hasn’t hit the cryptocurrency very much since Sept 11. At the beginning of this month, Ethereum was measuring an increase of 14-15% on its price. However, after the decrease in its price by 9.97% in last 24 hours only, Ethereum sits at $198 with a total market capitalization of $20,251,776,745.

Ripple’s XRP has also dipped on its value. The third largest cryptocurrency is currently down by -2.92% if we take its last 24 hours performance into account. At the time of writing, XRP is priced at $0.272. Its market capitalization is about $10.84 billion.

On the other hand, the fourth largest cryptocurrency, Bitcoin Cash, is currently down by 5.26%. At the time of writing, the price of Bitcoin Cash is $420.74 per token. Its market capitalization stands at $7,301,426,206.

Closing Words

The current market trend did not really hit some cryptocurrencies. However, it is essential to know that cryptocurrencies such as Ethereum, ICON, and DOGECOIN, made a bullish recovery last week.

Nonetheless, it is possible that in the short-term or until the end of this month, the crypto market will maintain its bearish momentum. The price of Bitcoin may still rally around $6500 to $7000 testing the $7000 price level, though.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by meredith hunter on Unsplash

Bitcoin

Trusted Crypto Tumbler To Protect Your Wealth

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Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

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5 Best Places to Bet with Bitcoin

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It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

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Bitplaza Inc Introducing Cryptocurrency to Retail

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Even though influential companies are not ready to validate cryptocurrencies as a stable form of money, Bitcoin is becoming a more frequently used currency daily. There is a rising number of companies that accept Bitcoin for the purchase of their products, validating it as a spendable currency around the globe.

Bitplaza Inc took the next step into technology and commerce, providing customers with a platform where they can spend Bitcoins for their needs through a mobile device. It opens the opportunity for companies and brands to list their products in exchange for Bitcoin, which will give more credibility to the coin.

What is Bitplaza?

Bitplaza is a shopping app that belongs to a retail company called Bitplaza Inc, located in Pennsylvania. The app is available on both Google Play and the Apple App Store. Bitplaza allows anyone globally to purchase brand new items with Bitcoin. The app has a wide variety of products to buy online, from electronic devices, video games, even groceries. The products that can be purchased from the app range from popular brands such as Sony, Starbucks, Adidas, Apple, and many more. The Bitplaza team is always adding new products to the shopping app, making more items available to be purchased with Bitcoin. The app covers a broad range of products for the different needs of the…

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