Ethereum

Ethereum Market Report: $ETH Melts Down Alongside Bitcoin

Brief:


Ether price plummets as Chinese regulatory fiasco drags down price. Ethereum is down -16.84% in 24 hours, down -27.53% on the week and down -17.68% on the month on a last price of $244.28. $ETH/USD is trading between a 24hr high of $281.01 and a 24hr low of $222.94 on a 24hr Bitfinex volume of 615,658 ETH. The weekly trend is down.

Last price

244.28 $ETH/USD

$USD

last price $ 244.28
one week ago $ 337.08
percentage -27.53%

Volume

Volume

The 24 hour volume on Bitfinex is 615,658 ETH.

Remarks

The price of ether is plummeting as the Chinese regulatory fiasco continues to drag down the price. Ethereum is down -16.84% in 24 hours, down -27.53% on the week and down -17.68% on the month on a last price of $244.28.

The key news is “BTCChina Exchange will stop all trading on 09/30”:

The news sent bitcoin and most crytpo – including ether – sharply lower.

More bad news could follow soon as the other major Chinese bitcoin exchanges – such as OKCoin and Huobi – weigh in with their corporate position on trading crypto in China.

OKCoin.com has a Singapore incorporated international trading presence and so its okcoin.cn exchange may be the only one affected by the Chinese regulatory shenanigans.

If there ever was a reason for banning fiat in crypto exchanges this Chinese regulatory fiasco could be a strong case for it. The better the separation between fiat and bitcoin the less impact fiat based governments may have on the decentralized crypto economy.

CoinMarketCap YTD Chart

Bithumb Top Ether Exchange
Korean crypto exchange Bithumb.com has again topped the list of ether exchanges with the highest volume trading in twenty-four hours:

Bithumb Home Page

Bithumb.com has an English language version of their website, take a look: https://www.bithumb.com/

Bitfinex holds second most daily ether market share with 12.43%. The primary data within this report is based on bitfinex.com:

One Day Candles

XBTLivePriceTM
Bitcoin spot prices from four major exchanges at print time:

Yesterday

Previous Days

Altcoin Market Reports
We publish recent and topical Market Reports on many altcoins. Browse our extensive collection of Altcoin Market Reports.

Price change

Price change is the percentage change within the period:

period change
day -16.84%
week -27.53%
month -17.68%

Featured Chart

One Hour Candles – Bitfinex

Data source

Bitfinex is the data source for this market report – except as noted.

Market capitalization

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

market cap = ( circulating supply x last price )
Market cap $ 23,113,406,691
Circulating supply 94,618,498
Last price $ 244.28
Circulating supply data courtesy of CoinMarketCap.com.

Daily High Low

daily high 281.01
daily low 222.94

Trend

The weekly trend is down.

trend is DOWN

Support

Support is the lowest price within the period:

period support
day 222.94
week 222.94

Resistance

Resistance is the highest price within the period:

period resistance
day 281.01
week 338.66

Range

Range is the difference in price within the period:

period range
day 58.07000000
week -92.80000000

Market sentiment

Market sentiment is bearish.

sentiment bearish

Image courtesy Pixabay.com

Summary

Ether price plummets as Chinese regulatory fiasco drags down price. Ethereum is down -16.84% in 24 hours, down -27.53% on the week and down -17.68% on the month on a last price of $244.28. The weekly trend is down. $ETH/USD saw weekly resistance at $338.66 and weekly support at $222.94. Market sentiment is bearish.

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 Thursday September 14 2017 19:19 hours UTC. Contact KittyBitcoin to request custom reports. Share your thoughts with @KittyBitcoin on Twitter.

Coming soon

Thanks for reading! 🙂

Tags

Ethereum, $ETH, USD, Bitfinex, Market, Report, $ETH/USD, altcoins

@KittyBitcoin supplies mobile friendly blockchain intelligence on http://kittybitcoin.com. Their favorite color is pink and the bigger the wool ball the better.
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