Thursday, Aug. 15 - Bitcoin is seeing some upward movement as Ether and XRP continue to slump.
Bitcoin is trading at $10,407 at press time, representing a 0.82% price increase on the day.
Ether is currently trading at $188.32 and trending down by 1.99%. Bad news for investors in ETH and BTC alike broke earlier today, with a blockchain investment company founding partner telling the public on Twitter that a Chinese Ponzi scheme has robbed investors of $3 billion.
XRP, the number two alt by market cap, is trading at $0.267 and trending down by 4.97% on the day at press time.
As recently reported by Cointelegraph, trader Peter Brandt accused Ripple, the issuer of XRP, of price manipulation.
"Will Ripple be able to manipulate the market to keep $XRP above.2400? A serious breakdown at this level, and.020725 is in the cards."
Brandt does not appear to be speaking hyperbolically, as he further clarified that he does believe Ripple is quite literally manipulating XRP price.
"I used 'manipulate' because it is exactly what Ripple has been doing since it introduced XRP The chart pattern for many, many months has shown the distribution of XRP by Ripple - it has manipulated the price to hold support. But if support gives way Ripple will be forced to dump in a major way."
The 10th top cryptocurrency Algorand is also falling in price at press time.
ALGO is currently trading a little over $0.699 and is trending down by over 12%. Interestingly, ALGO was scheduled to begin its listing process on the professional trading platform Coinbase Pro yesterday, which correlated with a boost in price for other tokens such as Chainlink.
Bitcoin Price Shows Signs of Recovery as Altcoin Market Stays Red
gepubliceerd op Aug 15, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.