Market Analysis Report

28 September 2017

Bitcoin Price Drops Below $4,000

The price of Bitcoin across global exchanges fell below $4,000 at roughly 3:15 UTC today, hitting a low not observed since the 10th of September. The move followed a period in which the Bitcoin price repeatedly tested $4,000, but succeeded in staying above the support. All in all, the move comes during an uncertain time for the cryptocurrency market, which has seen a period of sideways trading following a torrid first half in 2017.

Currently sitting at $4,037, the BTC price has touched the 4000$ barrier once again, with over $560M worth of Bitcoin exchanged in the past 24 hours on the BTC USD pair which has a 30.28% share of daily volume, second to JPY at 44.14%.

As for the current sentiment, continued rumors that China could move to close exchanges, as well as warnings around ICO's from other jurisdictions such as the FCA, continue to temper enthusiasm.

Read more here and See live charts here

Bitcoin OTC Service Suspends Trading Citing China Pressure

BitKan, an over-the-counter (OTC) trading service for cryptocurrencies in China, announced today that it will suspend operations amid growing scrutiny from domestic regulators. In the news post, BitKan said it would suspend its trading service beginning at 12:00 on the 14th of September, a notable development, given rumors that OTC markets may be excluded from a possible ban. Withdrawals and deposits will remain active, according to the firm. The statement noted that the suspension is a result of an announcement published by People’s Bank of China on September 4 in which seven local financial regulators announced a ban on illegal ICO fundraising and trading activities. BitKan's statement explains:

"After the suspension of the OTC service, BitKan’s wallets will continue functioning normally. Deposition and withdrawal of funds will not be affected."

Read more here

Coinone Launches Physical Cryptocurrency Exchange

Korea’s third largest Bitcoin exchange, Coinone, has opened a physical cryptocurrency exchange. Six cryptocurrencies are supported including Bitcoin, Bitcoin Cash, and Ether. The complex has a Bitcoin ATM, a large display board with market information and features a face-to-face consultation service.

Read more here

IBM Joins Automakers, Banks in Blockchain Wallet Project Expansion

IBM has joined car manufacturer ZF Friedrichshafen and investment bank UBS in an effort to build and develop a blockchain-based mobile payment system for the automotive industry. Announced today at the Frankfurt Auto Show, the partnership is being positioned as one that conceives how driverless vehicles might automatically authorize payments, as well as act as a digital operator for the vehicle, in the future. The company stated:

"Car eWallet is an innovative, digital assistant in the car that allows secure and convenient payments even on the go. Moreover, it can also perform other tasks, like opening the trunk or doors."

Read more here

UK Issues Warning on ICOs

The UK has become the latest major economy to publish official guidance on the phenomenon. Literature released Tuesday by the country’s Financial Conduct Authority closely tracks the SEC. It stated:

“Whether an ICO falls within the FCA’s regulatory boundaries or not can only be decided case by case.” 

Read more here

Recently Added

FUEL added to upcoming ICO list

Press Release

State of the Crypto

Bitcoin is down 9.13% at $3,966.940 with a volume of $141.2k - $582.9M on the USD pairs.

Litecoin is down 12.94% against the dollar for the day at $62.38 and down 4.26% to Ƀ0.01577 on volumes of Ƀ10.6k.

Ether is down 1.61% against Bitcoin at Ƀ0.07068 per Ether and down 10.72% against the dollar to $280.2 with average volume Ƀ25.0k on the ETH/BTC pair.

Dash is up 1.74% at Ƀ0.07681 with Ƀ2.7k volume and down 7.53% against the dollar at $304.81.

Ripple is down 0.62% to Ƀ0.00005088 with volumes of Ƀ4k and down 9.86% against the dollar at $0.2009.

Zcash is down 2.52% for the day to ɃɃ 0.05000 per ZEC and down 10.68% against the dollar to $198.53 with an average volume of Ƀ2.5k for the 24 hour period.

Monero is down 9.63% against the dollar at $104.8 and down 0.79% against Bitcoin at Ƀ0.02645 on volumes of Ƀ3.6k.

Ether Classic is down 2.22% to Ƀ0.003612 with volumes of Ƀ2.1k and down 11.06% against the dollar at $14.32.

Waves is down 1.37% to Ƀ0.001011 on Ƀ2.5k volume.

Stratis is down 2.57% to Ƀ0.001289 on Ƀ1.8k volume.

Market risers
1 BUS +58.69%
2 WFEE +42.86%
3 DOR +28.64%
4 GNO +24.79%
5 KICK +20.12%
Market losers
1 PNT -42.42%
2 BTH -27.22%
3 MCAR -24.14%
4 LIZA -18.87%
5 ECA -13.33%
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