Bitcoin and Ether Market Update: September 19, 2019

Total crypto market cap lost $3.3 billion of its value since Monday, September 16 and now stands at $262.6 billion. Top ten coins are all in red for the last 24 hours with EOS (EOS) and Binance Coin (BNB) being the worst performers with 6.2 and 5.7 percent of losses, respectively. At the time of writing bitcoin (BTC) is trading at $9,861 on the Bitstamp daily chart, while ether (ETH) stands at $205 and Ripple’s XRP climbed up to $0.291.

BTC/USD

Bitcoin lost one percent of its value during the previous week and closed trading on Sunday, September 15 at $10,300.

The most popular cryptocurrency opened the new trading period on September 16 by forming its fourth consecutive red candle on the daily chart. It fell as low as $10,050 during intraday just to close at $10,272 later in the evening.

Bulls were once again under heavy fire, but this time we witnessed the return of the major altcoins, which unlike BTC managed to register some gains.

On Tuesday, September 17, the BTC/USD pair declined even further to $10,193. The move was followed by another drop, to $10,158 during the mid-week session on September 18.

BTC broke below the $10k support and is currently trading at $9,888 in the early hours of September 19.

The United States Securities and Exchange Commission (US SEC) announced on September 17 the CBOE BZX Equity Exchange has withdrawn its proposal to list and trade shares of SolidX bitcoin shares issued by the Vaneck SolidX bitcoin trust. The decision comes a month before the final deadline for regulatory review of the currently registered BTC-backed exchange-traded fund applications.

Last week the company launched a new ETF-like over-the-counter product for institutional investors called VanEck SolidX Bitcoin Trust 144A Shares, which might be the main reason for the withdrawal.

In the meantime, on September 18, the Japanese messaging service giant Line officially launched its crypto trading platform Bitmax supporting five major digital assets in the likes of Bitcoin, Ether, XRP, Bitcoin Cash (BCH) and Litecoin (LTC). Users will be able to access trading via the Line Wallet and Line Pay applications.

ETH/USD

The Ethereum Project token ETH touched $190 on Sunday, September 15 and closed the previous week with a 5 percent increase.

The ETH/USD pair started trading on Monday by moving all the way up to $198. The coin added 4.2 percent during session and was now close to the psychological level at $200.

The coin continued its good performance on Tuesday, September 17 and stormed pass the mentioned resistance to close at $207. This was the fourth consecutive green candle on the daily chart since the ether surpassed the $180 mark.

On Wednesday, September 18 the ETH moved North to $210.

BitPay announced on September 16 it will soon start supporting the Ethereum blockchain’s native token ETH. The largest bitcoin payment process in the world will allow merchants from all over the globe to accept ether on their transactions. The currency will be available for storing on the BitPay wallets and BitPay Prepaid Visa Card.

The company already supports Bitcoin, Bitcoin Cash and various stablecoins including Gemini Dollar and Paxos.