CV Market Watch™: Weekly Crypto Trading Overview (June 1-7, 2019)
Cryptovest
Published Jun 07, 2019 11:07AM ET
Updated Jun 07, 2019 12:21PM ET
CV Market Watch™: Weekly Crypto Trading Overview (June 1-7, 2019)
Bitcoin (BTC) failed to keep the gains this week, as prices plunged below the $8,000 range during a significant sell-off starting on Tuesday. This event completed another growth-and-crash cycles for BTC, though there are indicators the coming months may see further appreciation.
Litecoin (LTC) Technical Analysis: Leads Market Recovery But Unlikely to Stay Above $100 For Long |
Tether (USDT) trading slowed down to 65% of all volumes, as Coinbase increased the activity of dollar-based trading. Still, USDT may gain importance as the coin increased its supply by 400 million in the past month, and Asian exchanges boosted their holdings significantly. BTC dominance over the entire market capitalization remained around 55.5%, as altcoins achieved a balance, with only separate short-term rallies. BTC trading volumes somewhat slowed down to around $20 billion in 24 hours.
Tether (USDT) Inflows Boost Chinese Exchanges; Stablecoin Continues to Grow Despite Concerns |
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.