Bitcoin Market Report: BTC-e.com Top in BTC/USD

Brief:


Bitcoin is down -0.55% on the day, down -4.43% on the week and down -14.89% on the month on a last price of 565.66. BTC/USD is trading between a 24hr high of 573.69 and a 24hr low of 554.90 on a Bitstamp 24hr volume of 4553 BTC. The weekly trend is sideways.

Last price

565.66 BTC/USD

$USD

last price $ 565.66
one week ago $ 591.88
percentage -4.43%

Volume

Volume

The 24 hour volume on Bitstamp is 4553 BTC.

Remarks

BTC-e.com Top in BTC/USD
BTC-e.com leads the seven day BTCUSD volume this week based on data independently compiled by data.bitcoinity.org.

BTC-e, Coinbase, Itbit and others pick up slack
pie-btcusd-2016-08-15

With Bitfinex exchange suspending operations after the August 02 2016 multi-million dollar hack, this left lots of opportunity for the other exchanges. BTC-e picked up most of the slack for the last seven days – but itbit, coinbase, bitstamp, okcoin and others all profited from the Bitfinex outage. Bitfinex has characteristically been at or near the top of the bitcoin BTCUSD market for most of the year. They resumed operations on August 07 2016.

Socialized loss
In an unusual move, Bitfinex has proposed to “socialize” their loss. Typically the corporate shareholders take the resulting profit or loss from operations. Customers are typically not involved in profit or loss taking. Recently Bitfinex indicated that instead their customers would be taking the loss. There has been no official mention of shareholders taking any of the multi-million dollar loss.

In terms of legal precedent this is an interesting variation from centuries of British corporate shareholder case law, and according to some observers on social media we haven’t heard the last word on this yet.

Legal registration British Virgin Islands
Bitfinex is legally registered in the British Virgin Islands and has had a custom created customer Terms of Service agreement previously posted on their website unchanged for a long period. This has recently been updated.

The new version maintains the jurisdiction unchanged as “… these Terms of Service shall be governed by and construed and enforced in accordance with the laws of the British Virgin Islands, and shall be interpreted in all respects as a British Virgin Islands contract.” Their official announcements are here.

Price change

Price change is the percentage change within the period:

period change
day -0.55%
week -4.43%
month -14.89%

Chart

Tap or click chart to enlarge:

chart-btce-2016-08-15

Data source

Bitstamp is the data source for this market report.

chart-bitstamp-btcusd-2016-08-15

Support and Resistance data not available on Bitstamp.net
The data for support and resistance typically offered in these reports is not available on Bitstamp.net.

Market capitalization

Market capitalization is the total $US dollar value of the Bitcoin market calculated using the formula:

market cap = ( available supply x last price )
Market cap Available supply Last price
$ 8,985,197,987 15884450 $ 565.66

Daily High Low

daily high 573.69
daily low 554.90

Trend

The weekly trend is sideways.

trend is SIDEWAYS

Margin trading

no

The data source Bitstamp does NOT offer margin trading on this digital asset.

Range

Range is the difference in price within the period:

period range
day 18.79000000
week -26.22000000
month -98.94000000

Market sentiment

Market sentiment is neutral.

sentiment neutral

Image courtesy Pixabay.com

Summary

Bitcoin is down -0.55% on the day, down -4.43% on the week and down -14.89% on the month. The weekly trend is sideways. Market sentiment is neutral. Bitcoin exchange market share has seen significant change after the Bitfinex outage.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

Printed

This report was printed on Monday August 15 2016 20:06 hours UTC. Contact KittyBitcoin to request custom reports.

Coming soon

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Tags

Bitcoin, BTC/USD, Bitstamp, Brief, Last price, Volume, Remarks, Price change, Chart, Data source, Market capitalization, Indicators, Daily high low, Trend, Support, Margin trading, Resistance, Range, Market sentiment, Summary, Disclaimer, Printed, Coming soon, cryptocurrency, bitcoins, BTC, altcoins, investing, trading, speculation, coins, investment, digital, assets, tags