Bitcoin Market Wrap Up 7/26 – 8/2: Markets Down, Vanillacoin Takes Lead
Since last week, Bitcoin has dropped a net total of approximately $10 (3.5%). This drop came after a brief surge to the high $290s; the Bitcoin price flirted with $300 but ultimately failed to break through the resistance. Furthermore, news of Mark Karpeles’ arrest seems to have indirectly affected the price. Just a few days ago, Mark Karpeles — the ex CEO of the now-defunct Mt Gox exchange — made headlines once again by being arrested on suspicions of fraudulent system manipulation. Japanese police estimated that Mark has profited around $1 million from alleged illicit activities. “If....
Related News
DeFi and the prospect of trading futures have crypto investors scooping up ETH.
Bitcoin takes a break after record price-setting Sunday while some traders are plowing BTC into ETH.
Bitcoin’s price takes a break while DeFi value locked is at record levels.
Here is Bitcoinist’s Bitcoin Market Wrap. It is been a relatively quiet week for Bitcoin, market-wise. Bitcoin has only fluctuated a couple percentage points every day, with usually a net difference of 1-3% daily. If we take a look at more traditional investments, 1-3% of the variation is a lot, but for Bitcoin in its current state, that is pretty stable. If we take a look at those same “traditional investments” they are down as well. For example, oil is under $2 per gallon in most states in the US, silver is under $17 an ounce, and gold is down $30 today, same with platinum.
Profit-taking helped lead bitcoin lower Monday while more investors are eyeing ether with great interest.