CV Market Watch™: Weekly Crypto Trading Overview (September 6-13, 2019)

Bitcoin (BTC) once again froze around the $10,000 level, still supported by high liquidity, but indecisive for a larger rally.

Bitcoin (BTC) kept up the pace this week, with volumes around $17 billion in 24 hours. Altcoins remain depressed, though giving off signals for a potential rally.

ChainLink (LINK) Price Action Suggestive of Pump-And-Dump

Bitcoin (BTC) traded at $10,326.40 ahead of the weekend, recovering from Thursday’s dip toward $10,000. Trading volumes thinned out toward the end of the week, sinking to $15 billion, lower than the usual on most days.

The share of Tether (USDT) sank toward 65%, as trading slowed down. BTC dominance shrank to 69.5% mid-week, then recovered to 70.4% on Friday, as altcoins still can’t manage to take off.

Cosmos (ATOM) Extends Rally with Growing Risks

Ethereum (ETH) hovers sideways, despite the rapid inflows of USDS on the Ethereum network. The ETH market price is at $179.63, briefly breaking above $180, with only a 2% net gain this past week.

XRP (XRP) remains at $0.25, despite the recent news of potential selling from Ripple and former partner Jed McCaleb. XRP also faces a new project that has announced a hard fork to stop the selling of XRP assets from the massive treasury of Ripple.

Bitcoin Cash (BCH) is at $297.28, with hardly any change since last week, as the network continues to draw in some of the hashrate, promising relatively robust rewards.

Litecoin (LTC) grew to $68.93, rising by about 3% this week, though the asset faces slower hashrate, with no hopes of a large-scale spike.

EOS (EOS) climbed up the charts to stand at $3.72, up more than 12% in a week, running counter to the general altcoin trend.

Binance Coin (BNB) fell to $20.95, sliding more than 7% this week, despite the news for the initial launch of Binance.US.

Bitcoin SV (BSV) fell to $117.34, down about 7% this past week, despite the project’s claims of a bright future and upcoming disaster for BTC.

Monero (XMR) fell to $73.53, still only going through small short-term rallies.

Cardano (ADA) fell to $0.042, still getting no real boost from being listed among the assets for the Binance Lending program.

Stellar (XLM) wiped another 6% of its price, down to $0.054, with no support in sight, as the asset shares the stagnant fate of XRP.

Unus Sed Leo (LEO) is clinging to $1.07, with almost no change. The asset remains unchanged, despite the recent announcement from Bitfinex that it would allow a larger circle of verified users to buy LEO.

Huobi Token (HT) continues on its track to price discovery after the recent market launch. HT is currently at $4.09,

TRON (TRX) inched down to $0.014, still losing ground despite the project’s large-scale publicity.

DASH (DASH)  grew to $86.15, rising with a better pace this Friday.

Ethereum Classic (ETC) lost 10% this week, despite the success of the Atlantis hard fork. ETC trades around $6.23, with a small net gain in the past month.

IOTA (MIOTA) is also without change at $0.24, remaining among top coins only because of its large circulating supply.

Tezos (XTZ) slid to exactly $1.00, on relatively slim trading volumes.

NEO (NEO) remained at $8.97, hovering sideways in expectation of NEO 3.0 appearing in 2020.

Cosmos (ATOM) was the big mover this week, adding more than 52% to a price of $3.04. The asset is rising on expectations of a Coinbase listing, along with the addition to Binance.US.

BTC remains directionless, with still very mixed indicators that do not give a clear scenario for the price action. Altcoins show short-term rally behavior, though it is early to estimate if the price growth would be sustainable. The market expects the launch of Bakkt futures, while taking account of a harsher regulatory climate.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.

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