Bitcoin Price Analysis on August 22: 5% Increase Despite Negative News
During the day, the Bitcoin exchange rate rose by 2.2%, while its total volatility was 4.89%, which is $ 480. We observe that trading volume is decreasing because only a month ago it was more than $ 1,000 per day! It indicates a reassurance of the market, but at the same time, there are fewer opportunities to make money on the Bitcoin movement.
The capitalization of the cryptocurrency market has grown a little and now amounts to $ 265 billion, but the trading volume decreased by 10% to the level of 55 billion.
Altcoins and Market Trends on August 22
In general, the coins from the top 100 take good position on the last day: only five coins fell against the dollar and among them two stablecoins (USD Coin (USDC) and TrueUSD (TUSD)) and one exchange token (UNUS SED LEO (LEO)). It suggests that over the past day, traders are actively entering positions. And this is not surprising, given that Fridays are often very active trading days, and traders tend to earn money on them.
But the unexpected growth leader for the last day was RChain, which grew by as much as 178%!
But at the same time, the trading volume of the coin is very insignificant - $ 78,000. At the moment, nobody knows why this coin rose in the price. The official leadership has not yet made any important news that could affect the price so much.
Key Cryptocurrency News and Events
Quite a lot of exciting news came out yesterday:
- how workers mined cryptocurrency at nuclear power plants
- why the White House is again dissatisfied with cryptocurrencies
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