Dollar Steady, Cryptos Fade Into The Week

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Dollar Steady, Cryptos Fade Into The Week

By Tom Whitbread
September 5th, 2018

The dollar is steady, while tech stocks took a hit and crypto market cap fell down to $217b.

Crypto markets are down, with Bitcoin breaching the 7k support as UK markets wrapped. It’s not just crypto that is in the red today, Nasdaq, Uk and German indices (FTSE and DAX), are also down amid uncertainty surrounding Brexit and NAFTA trade agreements. 

The dollar index (DXY) has remained firm at 95 aiding further bearish pressure to BTC and the subsequent run over effect to the altcoin market.

With NEO’s GAS and Verge taking the brunt, posting double digit percent losses at nearly 20% down.

In other risk off hedges, precious metals are up slightly with Gold holding onto $1200/oz currently as a key support, can Bitcoin also retain the $7000 handle as we head towards Friday? If volume doesn’t increase by then we may see lower lows during the weekend.

Amongst a sea of red, a few alts still show gains with Bitcoin Diamond still up 100% amid news of the imminent release of bitcoin diamond bazaar, offering a wide range of consumer electronics. Payable exclusively in BCD (Bitcoin diamond).