July 10, 2018

Cryptocurrency Markets Dip as Bitcoin Price Drops to Sub $6600 Levels

The cryptocurrency markets took another dip on Tuesday morning as most of the major Top 10 cryptocurrencies suffered significant losses. The big loser across the board was EOS which crashed by around 12% on Binance to trade at around $7.60 in mid-morning trading.

bitcoin had appeared to be consolidating at the $6700 level on Monday but suddenly it dropped to around $6550 on Tuesday morning before regaining to around the $6600 level at press time.

Ethereum also ceded most of the gains it had experienced in the past few days, and dropped to around the $458 level although here the decrease was only of about 5%. bitcoin Cash also experienced a considerable drop to settle at around the $720 level, a 4% decrease and appeared to be falling further to flirt with the $700 level as the day progressed. Ripple also dropped by a similar level of around 4% to settle at around the $0.46 level although there appears to be strong support at the $0.45 level. The recent news regarding lawsuits has probably knocked yet more shine off this cryptocurrency which continues to struggle of late. Litecoin ceded the $80 level and fell by around 7% to trade at around $78 at press time.

Currencies with smaller market caps also saw a considerable drop in their values overnight. NEO was down by well over 10% to the $34.50 level whilst Stellar ceded the $0.20 mark to drop below and was trading at $19 yet again after a few days beyond that figure. In NEO’s case, all the hype regarding the recent price bounce has now dissipated into thin air. Cardano experienced a 7% drop to trade at the $0.13 level – this currency is now down by around 15% from its monthly high achieved last week. Dash also declined to well below the $230 level and was trading at around $223 at press time.

Other currencies such as IOTA, QTUM and VECHAIN also experienced steep losses. The former was hit by bad news regarding its security levels and promptly dropped to the $1 level in a decline of over 8% whilst QTUM experienced a similar 8% drop to touch the $8 level again. VCHAIN was down by around 8% to trade at $2.32 at press time. Ethereum Classic lost some of the gains it experienced in the past few days when it went against the tide and fell below the $17 level yet again or an 8% drop.

Featured image from Shutterstock.

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Published at Tue, 10 Jul 2018 08:08:21 +0000

bitcoin Price News

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The true face of the EU is presently on display in Greece, not in Germany or Holland or France. Brussels must first fix what’s going wrong in Athens and the Aegean, and there’s a lot going wrong, before it can move on towards the future, indeed towards any future at all. It has a very tough job in Italy as well, which it’s trying hard to ignore.

You can’t say ‘things are fine in Germany’ or ‘Finland is recovering’ and leave it at that. Not when you’re part of a political -and to a large degree also economic- Union, let alone when you’re preaching tightening -and deepening- that Union. Not when parts of that Union are not only doing much worse than others, but are being thoroughly gutted. Then again, they’re being gutted by the very Union itself, so Brussels -and Berlin, The Hague, Paris- can’t very well feign surprise or deny responsibility.

Of course the European continent needs a ‘body’, some form of organization -and it needs it badly- that will allow its nations to cooperate, in 1000 different ways and fields, but the EU is not it. The EU is toxic. It is turning nations against each other as we speak. So much so that it’s crucial for these nations to leave the union and dismantle the entire operation before that happens, because there will be no opportunity left to do it once the toxicity takes over. The UK should count itself lucky for getting out while it did.

In its present setting, the EU has no future. And, more importantly, there is no mechanism available to change that setting. It should have been insisted on when the Union was founded, or in one of its various treaties after. This never happened, though, and that’s no coincidence, it was always about power. It’s therefore very hard -if not impossible- to see how the EU could be altered in such a way that it has a chance of survival.

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The post The EU Is One Big Fatal Flaw appeared first on Silver For The People.

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