Hello and welcome to News BTC’s Market Outlook September 5.
ETH/USD
Ethereum has been falling precipitously against the US dollar as China has outlawed ICOs. This is a major step in governments taking back the power from crypto currencies, and it course has caused a significant amount of concern. On Monday alone, Ethereum has lost 16% at the time of this writing. There is no substantial sign of a bottom at this point, and we could continue to see even more bearish pressure. In a market where there are no buyers, things can get ugly rather quickly. Stabilization for at least 24 hours as needed before any thoughts of buying can happen.
ETH/BTC
Obviously, Ethereum has lost value against Bitcoin as well, because Bitcoin has the advantage of being the biggest crypto currency. Monday has seen a loss of over 10% already, and it looks as if the selling is going to continue. Stepping away from this currency pair is probably the smartest thing you can do.
Thanks for watching, I’ll be back tomorrow.
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.