Weekly Crypto Market Watch: Sept 6-13, 2019

Published on September 6-13, 2019 by Cryptovest Staff

Market Analysis & Overview

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. 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.

Cryptocurrency Market Updates

  • Bitcoin (BTC): Once again froze around the $10,000 level with high liquidity but indecisive for a larger rally. It kept up momentum with 24-hour volumes of around $17 billion, then traded at $10,326.40 ahead of the weekend – following a dip toward $10,000 and a drop in trading volumes to $15 billion.
  • ChainLink (LINK): Price Action Suggestive of Pump-And-Dump.
  • Cosmos (ATOM): Extends Rally with Growing Risks. It 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.
  • Ethereum (ETH): Hovers sideways, despite the rapid inflows of USDS on the Ethereum network. The market price stands at $179.63, briefly breaking above $180, with only a 2% net gain this past week.
  • XRP (XRP): Remains at $0.25, despite 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 Ripple’s massive treasury.
  • 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; however, the asset faces a 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 regarding 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 an upcoming disaster for BTC.
  • Monero (XMR): Fell to $73.53, only experiencing small short-term rallies.
  • Cardano (ADA):