Bitcoin Price Remains around $575; Trading Booms in Japan

Similarly like two days ago, when the Bitcoin was trading over the $575 mark, today the cryptocurrency is still stabilised around that line. This isn’t all that surprising considering the fact that the volume was down and the indicators were sending quite a neutral, if not a discouraging, signal.

Just like the price seems to have fallen asleep and only moves up and down for several points, the Bitcoin-related world is pretty peaceful too. There are definitely certain pieces of information that should be mentioned; however, generally speaking, there hasn’t been anything too important, which could in any way drastically affect the value and the reputation of the world’s most popular currency.

Just before moving on to the price chart analysis and Bitcoin-related happenings that took part these past 48 hours, it should be noted that the alleged NSA Data auction, for now, isn’t quite going as planned by the hackers. The highest bid for the information is only 1.5 Bitcoin, while this amount combined with the rest of the 14 offers reaches a ridiculous amount of only $930; to remind you, the hackers were demanding $1 million Bitcoin i.e. around $500.

Volume Still Low; Price Virtually Unchanged

If you check the price change in the past 24 hours, you’ll notice that the Bitcoin has improved slightly i.e. for 0.15%. However, in comparison to two days ago, we can say that it slightly dropped. However, in general, the value per coin is virtually unchanged and still stuck between $570 and $580. The highest price for the day was $575.26, whereas the day’s low was $570.22. As you can notice, the Bitcoin is closer to dropping under $570, rather than breaching $580.

Once again the volume is pretty low and under $50,000,000. Its current value is $49,651,100, suggesting that drastic price changes are not an option for now. Naturally, this could change within hours, thus traders should keep an eye on it. The market cap is still over $9 billion, with a value of $9.10 billion.

The low volume is supported by nine technical indicators and 11 moving averages that send a strong sell signal. Only one average (100-day SMA) is pro-buy and two indicators (STOCH and ATR) are neutral. The STOCHRSI, additionally, is suggesting that the Bitcoin is being oversold.

Bitbet Acquired by Rakuten; Japan Witnesses Increased Bitcoin Trading Activity

Struggling Bitcoin startup Bitnet was acquired by Japanese retail giant Rakuten and the company plans to turn it into a Bitcoin lab. The deal was in the works since July, according to reports by Wall Street Journal. Reportedly, Rakuten wants to find out more about the blockchain technology and its possible application in the company’s e-commerce and fintech sectors.

Speaking of Japan, the country has noted an impressive growth in Bitcoin trading volume after the country has presented certain positive Bitcoin regulations. According to BitFlyer, the exchange in June recorded its 200,000th registered user and around 7.8 million Bitcoin coins were traded on their platform from January to June.

Finally, we would like to mention the vague warning by Bitcoin.org that the Bitcoin Core may become the target for a hacking attack. The site asked Bitcoin users to verify hashes and signature prior to running any Bitcoin Core binaries, while later Eric Lombrozo, contributor to the Blockchain consolidation software and Bitcoin wallets, said that there was no need for spreading paranoia.

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