Bitcoin price & Altcoin analytics

Cryptocurrency market has been quite calm in August, with most digital currencies trading at certain price levels for most of the month. Only at the end of the month did we see Bitcoin and top altcoins  falling below their support points. However, some coins have managed to make a good profit this month. Let’s look through top 5 cryptocurrencies of August.

The daily and weekly trading price of Bitcoin (BTC) is back in the mud. It has moved downwards to change hands below the $10k cap. The world’s most used token has dropped by about 6% within a shortest time, which is an indication of futures-related instability tied to the long-term contracts of BitMEX, a peer-to-peer (P2P) cryptocurrency trading platform. The exchange could see more pitfall before the bearish market ends.

The oldest cryptocurrency,Bitcoin, spent most of its time tightfitting on the price marks beyond $10,000 but failed to see any significant movement. However, on Monday early morning this week, there has been a massive trading in Asia which has made Bitcoin (BTC/USD) to trade above the $10,640 level, hence, taking its new resistance level.

The beginning of a new week started with a slight uptrend with all of the top 30 cryptocurrencies trading in green. During the weekend, Bitcoin spent more of its time consolidating above the $10,000 mark.

The original cryptocurrency Bitcoin is still hustling to become the world’s most used digital asset in payment services, however, its price has plummeted sharply by more than 10% over the past 7 days and global stocks are also falling.

The world’s top cryptocurrency by market capitalization, Bitcoin (BTC), has once more managed to hit and exceed the $12,000 price level after around 3 to 4 weeks trading below that mark. The surge comes after a huge devaluation of China’s fiat currency yuan which touched the bottom level against the United States dollar (USD) since exactly nine years ago. The event is one part of the US-China trade war.

Cryptocurrency market trading has been slowed down by a prolonged price correction of Bitcoin and other major altcoins. Some of them have managed to be traded in the green most of the time, but others have suffered enormous losses. Let’s take a look at the top 100 cryptocurrencies by market cap and pick out the biggest losers.

Today, Bitcoin mining activity seems to be a hurdle for most anonymous participants due to the massive competition originating from the giant pools. So far, some of the biggest miners we have in the industry include BTC.com, F2Pool, AntPool, BTC.TOP, Poolin, Huibi.pool, SlushPool, ViaBTC and many others. However, the largest share of about 40% is currently taken by only three companies, of which two of these (BTC.com and Antpool) are managed by one company (Bitmain). This has brought a lot of queries in the blockchain and digital asset industry and has left people thinking that the flagship crypto is on the brink of becoming a centralized cryptocurrency.

Cryptocurrency market has been highly volatile over the last couple of months, with Bitcoin finding support at $9,500 per coin. This month is characterized by a prolonged price correction after super lucrative gains in June. However, some altcoins out of top 100 have managed to keep trading in the green.