Market Analysis Report

17 June 2019

Bitcoin Price Falls Below $1000

The price of Bitcoin fell below the $1000 mark during the weekend, reaching as low as $890. Since then, Bitcoin has recovered but is still below 1k, at $980. The reason for the decline in the price is connected to the prospect of a possible hard fork in the Bitcoin blockchain and the recent altcoin rally in which alternative cryptocurrencies are experiencing extreme volatility. These factors are causing investors to look for other investment opportunities in the blockchain space.

See live charts here

Bats Exchange to Formally Object SEC Rejection

According to a letter posted on the SEC’s website, the Bats BZX Exchange, operated by CBOE Holdings Inc., plans on appealing the the Securities and Exchange Commission’s (SEC) rejection of the first bitcoin exchange-traded fund (ETF), which would have seen the exchange list it to track the price of bitcoin. The letter, which was received on 20 March, states:

"Bats BZX Exchange, Inc. submits this letter, pursuant to Rule 430(b)(1) of the Securities and Exchange Commission’s Rules of Practice, as written notice of Bats’ intent to petitions for review of the Order Disapproving a Proposed Rule Change, as Modified by Amendments No. 1 and 2, to BZX Rule 14.11(e)(4), Commodity-Based Trust Shares, to List and Trade Shares Issued by the Winklevoss Bitcoin Trust; Exchange Act Release No. 80206, File No. SR-BatsBZX-2016-30."

Read more here

What is Segwit?

We have already covered the Block size limit and the debate that has been revolving around this issue for years - Read more here. We have also covered one of the scaling solutions that has been put forward, Bitcoin Unlimited. Now it’s time to talk about SegWit, the scaling solution proposed by the Bitcoin Core development team

Read full guide here

 

State of the Crypto

Bitcoin is up 3.07% at $988.46with a volume of Ƀ 84k - 82M on the USD pairs.

Litecoin is up 0.73% against the dollar for the day at $4.12 and down 1.09% to Ƀ 0.004186 on volumes of 1.3k BTC.

Ether is down 5.50% against Bitcoin at Ƀ 0.05064 per Ether and down 2.51% against the dollar to $50.18 with average volume 68.5k BTC on the ETH/BTC pair. 

Dash is down 4.98% at Ƀ 0.09187 with 14k BTC volume and down 2.99% against the dollar at $90.72.

Zcash is up 7.09% for the day to 0.06607 BTC per ZEC and down 3.88% against the dollar to $60.68 with average volume of 2.1k BTC for the 24 hour period.

Monero is down 3.51% against the dollar at $19.50 and down 6.91% against Bitcoin at Ƀ 0.01968 on volumes of 6.5k BTC. 

Ether Classic is down 4.50% to Ƀ 0.002334 with volumes of 2.9k BTC and down 2.13% against the dollar at $2.30.

Waves is up 13.66% Ƀ 0.0003578 on 183 BTC volume. 

PASC is up 5.29% Ƀ 0.0002569 on 143 BTC volume. 
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