This week’s price movements for Bitcoin (BTC), gold, and our stock picks, Visa and Coinbase.
BTC
Bitcoin appears to have been on average for the past two weeks as it hit $ 50,000 again for the first time since May, but it seems to have found resistance at this point since then. Trading around $ 45,000 on August 19, BTC then rose to $ 47,000 the next day, $ 49,000 the next day, finally breaking the $ 50,000 mark on August 23. Having hit a price target, BTC naturally encountered selling pressure and fell to $ 48,000 on August 25, where it briefly returned to $ 50,000, before dropping to $ 47,000. Although between there and $ 49,500 has since been funneled, it is currently trading around $ 50,000.
png »alt =» »width =» 1459 ″ height = »794 ″ class =» amp-wp-enforced-sizes i-amphtml-layout-intrinsic i-amphtml-layout-size-defined »layout =» intrinsic »i- amphtml-layout = »intrinsic»> cryptoshitcompra.com/wp-content/uploads/2021/09/Oro-acciones-y-Bitcoin-descripcion-general-semanal-3-de.png »alt =» »width =» 1459 ″ Height = »794 ″ class =» »/>
Despite getting back into shape, the August Bitcoin rally didn’t attract many new buyers. Cryptocurrency funds posted outflows of $ 61 million in August, according to data from asset manager CoinShares, and outflows in 14 of the last 16 weeks. Bret Oliver, a structural analysis analyst at Momentum, wrote that bitcoin’s trading pattern since its April high resembles what happened after the 2017 peak. This decline doesn’t have to last until 2017, he said, but expects the market remains stagnant in a range after this year’s sell-off before building a new base.
Gold
Gold has had a solid couple of weeks. Since August 19, gold has been trading at around $ 1,780. It continued to trade there until August 23, when it jumped to around $ 1,804. Although it stayed there for a short time, on August 25 it had started to decline reaching around $ 1,784 on August 26. n on August 27, gold rose again, this time to around $ 1,820, where it was trading last week.
Read also DYDX flies as the protocol doubles Coinbase’s trading volume
Gold prices rose while the dollar remained weak, although it was trading in a tight range ahead of August US non-farm payroll data deemed crucial to the Federal Reserve’s phase-down strategy. “We have seen a slightly weaker dollar that has helped boost gold prices since the end of last week. At the moment, gold is still a ‘buy-down’ case and has managed to stay above $ 1,800 an ounce, ” said Michael Hewson, chief market analyst at CMC Markets UK. “Gold prices should try to climb to the highs we saw in August, around $ 1,830, but for now, you probably won’t see much movement ahead of payroll figures.”
VISA
Overall, Visa did not have a good August. After hitting an all-time high of $ 250, V continued to decline, hitting $ 234 on August 3. From there it rallied to $ 242, however it fell again, this time to $ 230 on August 12. It continued to funnel between there and $ 236 until today, when it plunged to $ 223.
Earlier this week, Visa released its initial whitepaper on non-fungible tokens (NFTs), which praises digital assets as a “promising medium” and continues its crypto-positive positivity. financial services giant recently published its overview of the NFT industry in a whitepaper. non-fungible token deed praised digital assets and provided an outline of the technology.
BADGE
Meanwhile, Coinbase ended the month of August better than it started it. After starting the month at around $ 240, it quickly dipped to $ 230. But from there it took off, rising over $ 256 on August 5, $ 280 on August 9, and down to $ 294 on August 11. However, it fell from there, dropping to around $ 264 on August 12 and dropping further below $ 240 in August. 19. From there, it rallied again, trading only around $ 255. n, after falling below $ 50 on August 26, it rallied again and is trading around $ 270.
Read also Woe to cryptocurrency exchanges in South Korea as the national lockdown approaches
Earlier this week, Coinbase acknowledged a bogus security message sent to 125,000 customers, claiming that their stock settings had changed. In a comment to CNBC, the cryptocurrency exchange claimed that the message was the result of an internal error. company noted that it was not a hostile actor. “All of a sudden, the system started sending things like a bug to the system, but it wasn’t a malicious or third-party bug,” a spokesperson commented.
Disclaimer
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.
Source link
more
