Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, ETC: Price Analysis, August 17
Cryptocurrencies are pulling back, but is this really a cue to start buying? Let’s check the charts.
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The market data is provided by the HitBTC exchange.
The cryptocurrency market capitalization has risen above the $215 billion mark once again. A resilient Bitcoin was the main reason for the pullback. If the leader holds ground, the investors gain confidence and start entering the markets.
Crypto hedge fund Pantera Capital is looking to raise $175 million for its third venture fund. They had previously raised $13 million in 2013 for the first fund and $25 million for the second. This shows that the demand for cryptocurrencies and related investments is still alive.
While the decline was purportedly caused by the rejection of the ETF proposal by the SEC, some experts still hope to see a Bitcoin ETF in the near future. Others, however, are not keen on Wall Street money entering the crypto world. They believe that Wall-Street managed money will cause more problems.
Cryptocurrencies are currently pulling back from their lows. So, should the traders start buying at these levels or wait? Let’s find out.
Bitcoin continues to trade within the range of $5,900.06—$6,617.5. Currently, the bulls are making another attempt to br