Markets Fade Into Weekend, Doge Pumps

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Markets Fade Into Weekend, Doge Pumps

Posted on August 30th, 2018 in Bitcoin News by Tom Whitbread

Crypto markets are bloody nosed across the board, with laggards Nano down 17% and IOTA shedding 13%, although Doge is up 11% as the US opened.

Bitcoin dipped below $7,000 testing support at $6,800 currently almost immediately after CNBC published their predictions for a $10k BTC.

As the weekend nears by, traders began to take profit on their positions amid a bearish Asian session on the back of news of further Chinese Crypto bans extending beyond Beijing.

Popular large cap Alt-coins Ethereum, LTC, BCH, EOS and XRP shed over 5% of their market value as the global market cap fell to $221b

BTC dominance remains high at 53%, with this being the first pullback since the daily golden cross on 9,26 moving averages, $6800 provides support for now. Although will we see lower lows over the weekend? With volume still choppy and not picking up, further tests of the 6800 support seem probable, seeing how Stochastic's has dipped from its overbought trench.