Home Daily Analysis Crypto Market sentiment Daily Crypto Brief, The Buyers Dominate!

Daily Crypto Brief, The Buyers Dominate!

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Yesterday morning there were hesitation and selling pressure, but the approaching of the opening of the US session brought buyers back to move Bitcoin and the rest of the altcoins to a healthy 4.46%. Market Capitalisation moved to $282.313 billion while Bitcoin dominance grew to 65.9%. The notable exception among the top ten altcoins was Ripple, which declined -039%.

What is happening?

The NBA and Dapper Labs, the company behind CryptoKitties, announces the launching of blockchain-based collectibles platform dubbed NBA Top Shot.

The community that will bring about a mainstream moment for blockchain is the NBA. We want to give basketball fans something that they have never seen before, but also something that is immediately familiar and they want to actually play with. It will be a new type of digital collection experience. –  Dapper Labs CEO Roham Gharegozlou.

Source: Cryptoslate.com

Brazilian-based cryptocurrency exchange M Intermediação e Prestação de Serviço Ltda has won a lawsuit against Banco Bradesco. Bradesco blocked the MIPSLTDA account in 2018. More information here.

The first stablecoin linked to cannabis will be created in Switzerland. The Swissx Bank of Cannabis, a Swiss-based consortium, will offer and operate SWX Coin. One unit of SWX Coin will be equivalent to one unit of the average price of premium hemp flower. According to the SBoC Ceo, Alkiviades David, the project is aimed at facilitating transactions in the cannabis industry, according to a crypto.iq article.

California City manager, Steve Schwabauer said that Lode City’s computers were the victim of a ransomware attack, early this year. More information by newsbtc.com.

Coinbase CEO, Brian Armstrong, stated Crypto is the path to financial inclusion. He also said that the firm would continue to lead in the development and expanse of the blockchain technology — more info by coindesk.com.

Abra Crypto Wallet, a non-custodial wallet, restricts U.S. support due to regulatory barriers. The company told their customers that all digital currencies except for BTC, BCH, Ether and LTC will be moved to a native hosted wallet solution.

US users holding positions in these crypto assets will have to exchange or withdraw their investments from Abra by 11:59 PM EST on August 29, 2019. After that date, any remaining balances in those assets will be converted to Bitcoin in the app

source: financemagnates.com.

Technical Analysis

Bitcoin



Bitcoin’s price has overcome the $10,200 barrier and now is trying to move above $10,500 and heading to the real challenge and cross the $11,000 again. The MACD is bullish, and the price keeps moving above the +1 Bollinger band. Just the Stochastic oscillator warns about the price being overbought. We can see also that the latest trendline (red) is steeper than the previous one (blue), meaning momentum is growing.

Ripple



We see that the bullishness of the bitcoin has also influenced the price of XRPUSD. The MACD is making a bullish transition, and the price above +1 BB is indicative of the beginning of an upward movement. Also, the Stochastics is aligned with this upward movement.

Etherum



Ethereum is tracking the bitcoin. The price has made a 4H very bullish candle, and the latest trendline points up. Now, it needs to pierce through the $224.22 level and continue its path to $225 and $261 in the following days.

Litecoin



Litecoin has been very bullish in the past dates bit now is finding resistance and selling pressure when it tries to cross the $100 level. The MACD is still bullish, and the price is above the +1 Bollinger line, which, as we already stated, is also bullish. The level to be bettered to continue moving up is $100. Maybe the proximity to its halving event makes investors nervous.

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