14 Aug 2017 - Daily Price Action With Bitcoin and Alt-Coins
Another wild day. Bitcoin has been up $250, about 6%, in the previous 24 hours. This may be related to the coming Bitcoin derivatives.
For the Bitcoin trader in you, the current Bitcoin price is about $4,300 with the 200-day moving average is at $1,836 and the 50-day moving average is at $2,746. Both are rising sharply. This puts the relative 200-day moving average price at 2.34 and relative 50-day moving average price at 1.57.
Many of the alt-coins have been retreating. Exceptions include IOTA which is up 18%, NEO which is up 4.7% and Bytom which is up 45%. The IOTA market capitalization is $2.448B. The NEO market capitalization is $2.259B. The Bytom market capitalization is $164m. Meanwhile, it seems that DASH has been slowly retreating in price being down 2.9% to a $1.488B market capitalization.
These alt-coins all have decentralized exchanges as a key factor in their development.
IOTA is mainly traded on Bitfinex which is barring US customers.
About the Alt-Coins
IOTA enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees.
NEO, formerly Antshares, is China's first ever open source blockchain. Founded in 2014, NEO’s mission has been to reinvent the way commerce is done. We believe technology drives progress and together we can create the future. Motivated by this, NEO has been created to shift our traditional economy into the new era of the Smart Economy.
Bytom is a block-chain interchange of a variety of bit assets, and different types of assets (proceeds, unlisted equity, claims, digital currency, etc.) that run on the original chain can be exchanged through the agreement, The interaction with gambling and complexity based on intelligent contracts.
DASH is focused on being an open sourced digital currency with instant transactions.
What are your thoughts? Where might we see the price action today? Any other key news items we should be aware of? Please help us out and leave your comments. Thanks!