Market data as of 10:37am, 6 August 2018
Disclaimer: The views and claims expressed here are not meant as an alternative form of investment advice. Every investment move involves risk, and you should consult professional financial advisors for guidance or conduct your own research before making a decision.
According to TokenInsight analysis, Bitcoin’s popularity growth rates have decreased for 3 consecutive days now to 0.0273% and the number of coins exchanged in the past 24 hours fell to 170,000 from last week’s figure of 207,000. Meanwhile, the number of active addresses has hit a second record low in the past month to 387,000 from last week’s figure of 525,000. Despite falling rates, Bitcoin hashing difficulties have increased to 46.83EH/s, hitting a new record high. BC trend analyst states that there may be an opportunity to enter the market if a significant decrease happens again as large mine owners have been ramping up hashing power and turning back on their machines despite the low market popularity.
According to independent analyst Tommy Tang, Bitcoin rebounded swiftly after falling to $6,800 yesterday. Outlook on BTC is still relatively weak and a huge rebound in the market is less likely to happen. It is expected to hover around the $7,200 mark then possibly fall again. Investors need to remain alert.
Block Asia Partner: TokenInsight https://tokeninsight.com/