This week started with high hopes for a bull run. The New Zealand tax office legalized cryptocurrency salaries, and Goldman Sachs analysts advised clients to buy Bitcoin (BTC) at a relative ‘dip’ of $11,000.
Those hopes have been dashed by a significant market downturn. More than $30bn has been wiped from the market since Tuesday afternoon, and Bitcoin plummeted by nearly $1,500. Large-cap altcoins lost around 10% of their value.
Warren Davidson and Meltem Demirors may have brought shitcoins to the attention of the United States Congress, but crypto insiders have long used the term to describe projects that are heavy on hype – and light on substance.
Cardano has a bearish short-term trading outlook, with the cryptocurrency trading below all major technical support on the four-hour time frame.
Lisk has an increasingly bearish short-term outlook, with the cryptocurrency suffering a severe double-digit intraday decline.
Ethereum has a bearish short-term trading bias, with the cryptocurrency tumbling below key technical support on the four-hour time frame.
Bitcoin’s fees are on the rise. Between May and August, the average transaction cost has wavered between $2 and $6.
Most people don’t spend Bitcoin often enough to notice, but if you’re sending money home every week, those satoshis add up – especially since the average transaction cost less than $0.50 for most of early 2019.
The Celer Network (CELR) could become a scaling solution for multiple blockchains. Representatives of the NEO team are discussing the possibility of integrating Celer’s layer-two scaling protocol with NEO’s blockchain platform.
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