RATE Group | Crypto Markets Attempt Recovery, Bitcoin Circles $6,500 Support
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Crypto Markets Attempt Recovery, Bitcoin Circles $6,500 Support

10 Aug Crypto Markets Attempt Recovery, Bitcoin Circles $6,500 Support

Posted at 18:05h in Bitcoin News by

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August 10: Crypto markets are tentatively holding gains today, as they stake their recovery from the week’s earlier plummet. On August 8, total market capitalization had shrunk to $219 billion –– its lowest level since mid-November 2017 –– but today has seen that figure peak as high as $233 billion.

Market visualization

Market visualization from Coin360

Bitcoin (BTC) is attempting to hold the $6,500 support at press time, trading at around $6,485 and up a fraction of a percent on the day. The leading cryptocurrency has seen a 24-hour high around $6,610, but has been trading jaggedly over trading hours, briefly dipping as low as around $6,332, before spiking upwards to re-attempt $6,500. Weekly losses remain at a weighty 13.8 percent, yet on the month Bitcoin is up around two percent.

In an interview with CNBC, head of technical research at Renaissance Macro Research Jeff deGraff said that “game‐over” for Bitcoin is on the cards if BTC/USD break year-to-date support levels.

Bitcoin’s 24-hour price chart

Bitcoin’s…

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