Daily Berminal Brief (09/06/18): Markets Bleed As Bitcoin Crashes To $6,400
by Berminal - The Crypto News PlatformSeptember 6th, 2018
Too Long; Didn't Read
The State Of The Market: Bitcoin tanked in the last 24 hours, and the entire cryptocurrency market went down with it. Bitcoin (BTC) initially fell down to $7,000 where it was stable for a few hours. However, there was another crash which pushed the price to $6,400. Bitcoin is currently at $6,509.69, losing 7.34% in the last 24 hours. Ethereum (ETH) suffered bigger losses and is currently at $229.62, losing 11.51% in the last 24 hours. The total market cap went down from $240 Billion to $205 Billion, losing $35 Billion in a day. With Alts suffering greater losses, Bitcoin dominance has now gone up to 54.6%.Companies Mentioned
The State Of The Market: Bitcoin tanked in the last 24 hours, and the entire cryptocurrency market went down with it. Bitcoin (BTC) initially fell down to $7,000 where it was stable for a few hours. However, there was another crash which pushed the price to $6,400. Bitcoin is currently at $6,509.69, losing 7.34% in the last 24 hours. Ethereum (ETH) suffered bigger losses and is currently at $229.62, losing 11.51% in the last 24 hours. The total market cap went down from $240 Billion to $205 Billion, losing $35 Billion in a day. With Alts suffering greater losses, Bitcoin dominance has now gone up to 54.6%.
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A few months back, Goldman Sachs revealed that they were building a Bitcoin trading desk. Exchanges were highly profitable. Binance made as much as Nasdaq in Q1, 2018, and Goldman Sachs wanted a pie of that. However, they are no longer interested in it and has put its plan on holds. The reason behind the move was because crypto regulation is still uncertain in most parts of the world. Instead, Goldman Sachs has shifted its focus to offering custodial services for cryptocurrencies (read more).
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Payment service provider TransferGo has announced that it is using Ripple on its backend to facilitate transactions from Europe to India. While TransferGo offers free transfer with a delay of two days, customers can pay 3 Euros to transfer within 30 mins. Using traditional technology would cost a significant percentage of the transaction as the fee, with long delays (read more).
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Speaking to a Congressional Committee, Jack Dorsey, the CEO of Twitter revealed that blockchain is a priority at their company right now. Twitter is currently working on preventing online scams and fake news using blockchain. Jack Dorsey has been extremely bullish on Bitcoin and Blockchain. He’s also the CEO of payments app Square, which recently enabled a feature to let its customers trade Bitcoin within the app. At a previous event, Jack Dorsey claimed Bitcoin has the potential to replace the US Dollar in just 10 years (read more).
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