Summary:
- The Chinese Ministry of Civil Affairs considers using blockchain for charity sector
- 72% of cryptocurrency retail investors wants to buy more over the next 12 months
- Bitcoin (BITCOIN on xStation5) price plunged below the $6250 mark
Tuesday brought declines on the cryptocurrency market with major cryptocurrencies moving lower since midnight. Among today’s biggest laggards one can find Ethereum (over 2.5% down) and Dash (over 3.5% down). The capitalization of the whole cryptocurrency market sits a little below $195 billion whereas the market capitalization of the most popular digital currency stands slightly below the $110 billion mark. In news covered today one can find the Chinese Ministry’s blockchain-related plan and survey concerning cryptocurrency investors.
BITCOIN price experienced jump that was followed by a drop at night. In turn the coin is trading at similar levels as yesterday. At press time, the most famous cryptocurrency is trading in the vicinity of the $6250 handle and clearly below the 33-period moving average on the H4 chart (a purple line). Source: xStation5
The first piece of news covered today comes from China where one of the Chinese ministries (more precisely, the Ministry of Civil Affairs of the People’s Republic of China) has announced on Monday its plan. The mentioned plan outlines some ideas aimed at improving clarity of social media activities. One of the ideas proposed in the document is to use blockchain technology in a charity tracking system, a move that is said to make donations more visible. The integration of blockchain into current charity tracking system is said to begin by the end of 2018. The solution is said to be fully implemented by 2020.
DASH is one of the altcoins that has experienced heavy losses today. On Tuesday afternoon, the cryptocurrency is trading in the vicinity of the $190 handle. Do notice that DASH is testing the lower bound of the upward channel at press time. Source: xStation5
SharesPost ,a securities trading company, conducted a survey among cryptocurrency investors in July. According to the survey, 72% of retail crypto investors want to enlarge their cryptocurrency holdings over the next 12 months. What’s more, 66% of mentioned investors think that crypto prices will increase over the next year. The results of the survey may be interesting, but one cannot forget that it is just a survey based on a sample and therefore may not reflect overall sentiment amid investors.
ETHEREUM price slumped over 35% since the beginning of September. At press time, ETHEREUM sits a notch below the $185 mark. The cryptocurrency with the second largest market capitalization seems to be making another attempt to break below the $183 handle. Source: xStation5
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