Market Wrap: Bitcoin, Ether and Steem all down, easy Bitcoin for Austrians and chaos on the M7

in #cryptocurrency9 years ago (edited)

Hey everyone and welcome to my final wrap for the week. Will be back Monday, though will pop in with some charts on the weekend if the market warrants.

My spam report warning seemed to work yesterday, as I didn't get any spam comments ... maybe they do actually read your posts?

Here's the latest movements in ...


Crypto Markets


BTCUSD finished the day slightly lower yesterday and is currently down on the day. We need a break back above 2400 to relieve selling pressure, but 2220 remains well bid for the moment:



Ether also finished Thursday lower against the USD and is down on the day. We have the ingredients for a bottom here, but yet to see a clear cut reversal. Would like to see close above yesterday's highs around 225:


Same story with Steem: down yesterday and down on the day. Still amazed at just how closely correlated all these markets are. Reminds me of the Risk On/Risk Off dynamics in the good ol' QE days: Crypto On/Crypto Off. Still really like this pair - it is well off the lows when compared to the Ether and Bitcoin charts above. Even so, the down-day does cloud things up a little and can't rule out a retest of the mid 30's:



We are trading at 1.54 AUD this evening, down from $1.80 yesterday afternoon. Also down against the US Dollar: currently fetching $1.16, down from $1.36 yesterday. You can pick Steem Dollars up at a 2% discount right now at Bittrex - bargain!


Crypto News


Want to buy crypto at your local post office? Austrians can now do this thanks to a deal between Österreichische Post and Vienna exchange Bitpanda. Austrian post offices and 1700 stockists will now sell Bitpanda vouchers in €50, €100 and €500 denominations. Pretty cool.

In other news, Coinbase has been granted a one month delay in the Cryptsy law suit, "Bitcoin Guy" netted himself a clean 15k trolling Yellen, and Goldman Sachs has finally had it's SETLcoin patent approved after first applying back in 2014. Would like to have a go at mining that one ... probably be all pre-mine though :P

Coindesk with those stories.


Aussie News


In local news, Greens Senator for WA Scott Ludlam has resigned due to the fact he holds dual NZ/AU citizenship, which makes his election invalid. His resignation will likely lead to the election of 22 yo WA Greens candidate Jordon Steele-John ... youngest senator ever? ABC with that story.

In other news, there was chaos on the M7 in Sydney after a multi-truck crash shut down both southbound lanes. Luckily, only two people were hospitalized and their injuries were not life threatening - could have been a lot worse. The Herald has more.

Finally, no more plastic bags across the country as both Wooloworths and Coles begin to phase them out in each and every state. This change will only affect shoppers in WA, Victoria and NSW, as the other states and territories already had state wide bans in place. I'm a pretty half-arsed greeny - I still haven't got one of those green shopping bags - guess I'd better grab one. The Herald again with that one.

Edit: A man, a mother and her two children have been reported missing and police have issued an "amber alert". There's something a little strange re: this story as they have only been "missing" for 24 hours. ABC has the details and I hope everyone's alright.

Anyway, that's me for the week folks. I'll be back with another (probably late) wrap on Monday and then back in the office from Tuesday and back to schedule.



As usual, 20% of the rewards from this post will be split with @centerlink for the communal benefit of #TeamAustralia

Team Aus footer by the amazing @bearone

Sort:  

I think if ETH drops below $195 again I'm going to buy back in and try and grow my stack as it approaches $210. Good way to make some easy money!

Great news for Austrians. Bad news or good news for Steemians (sellers vs buyers). Id throw SETLcoin in the bin if i could but probably wind up a holder because GS is the goose that lays golden turds. Like to visit Australia someday. Thanks for the update Bulleth!

I think the next two weeks are going to be very interesting. The whole bitcoin potential hardfork is on the horizon and, depending on what the miners do, it could either go through the roof or the floor. Either way, given its market share and influence, I think it's going to pull everything else along with it.

I don't think the market really knows what to do at the moment, which probably means rumours are going to play a big part. Perhaps pick up some coins at decent prices, but I'll have some stop loss orders in place. If the worst happens and Bitcoin forks this could get real bumpy, real fast.

This post received a 2.6% upvote from @randowhale thanks to @bulleth! For more information, click here!

Yup bro you are right I think it's right time to hold coins :)

Thanks again!

Time to buy some steem and power up

I hadn't noticed that ETH/USD trend line retest before. Niceeee.

Also cheers for the heads up to the Bitcoin guy nets $15,000 article. I've added my own thoughts to the article here. What do you think?

yes !! its a good news for Austrians , its the time to buy more coins.... thanks for this post.
upvote...

@bulleth got you a $1.76 @minnowbooster upgoat, nice!
@bulleth got you a $1.76 @minnowbooster upgoat, nice! (Image: pixabay.com)


Want a boost? Click here to read more!

Coin Marketplace

STEEM 0.05
TRX 0.29
JST 0.043
BTC 67972.72
ETH 1973.58
USDT 1.00
SBD 0.38