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Mixed Results for Cryptocurrency Market As Bitcoin Remains Stable at $8,100

October 22, 2019 at 22:11 by Matt Jackson

Bitcoin prices have continued trading sideways, peaking at $8,200 and dipping down to $8,000, but currently settling at around $8,100. Analysts have pointed to low trading volumes and a narrow trading band, and some have suggested that this could lead to substantial price movement in the coming days. Meanwhile, some altcoins have taken the opportunity to make steady gains on BTC, with Basic Attention Token (BAT) one of the leaders. From the big cryptocurrencies, Ripple has continued to make slight gains in dollar and BTC value.

Cryptocurrency exchange Binance announced that it was introducing margin trading on Basic Attention Token (BAT) earlier today. At the time, the BAT token was trading at around 2700 satoshis (0.000027 BTC) and the market has reacted favorably to the announcement. In the 15 hours since the announcement, prices have risen to 3048 Satoshis, an increase of nearly 13%. The currency has seen a similar increase in dollar value, rising from $0.22 to $0.247 in the same time period. BAT would still need to treble in value to reach its all-time high of 9400 satoshis.

Of the top 10 coins, Ripple has continued its steady increase. It was valued at $0.25 at the beginning of the month and now costs $0.295, although it is struggling to break and hold the $0.30 resistance.

Meanwhile, Facebook’s Libra continues to make headlines, despite the fact that it hasn’t launched and continues to hit obstacles and roadblocks along the way. Facebook founder, Mark Zuckerberg, has stated that Libra will not launch in any market without first receiving congressional approval.

There is good news for cryptocurrency holders and investors, however, as the Opera browser has become the first major browser to enable direct Bitcoin payments, enabling them to send and receive money directly from the browser, and even to pay for goods. Startup Moon has taken this a step further, announcing that its team is working on enabling users of their browser to make Amazon purchases using Bitcoin, Litecoin, or Ether.

Bitcoin (BTC) prices have slipped 1.1% to $8,142.79. Ethereum (ETH) prices have fallen 0.66% and the second-largest coin is now trading at $173.55. Ripple (XRP) has gained 0.9% and costs $0.296 while Bitcoin Cash (BCH) has shed 2.12% off its price to trade at $229.89. Litecoin (LTC) has seen prices fall 1.36% down to $54.29, at 23:00 GMT.

If you have any questions and comments on Bitcoin today, use the form below to reply.

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