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Market Update For Bitcoin, Bitcoin Cash, Cardano, and Chainlink

The recent price action of Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), and Chainlink (LINK).

Bitcoin (BTC)

Since Saturday (August 10, 00:00 UTC), the Bitcoin price has gone from $11,921 to $10,514, where it is at press time (11:04 UTC), a drop of 11.8%.

BTC-USD 24 Hour Chart on 14 August 2019.png

Around 3.7% of this drop might be due to the U.S. government softening its stance in the trade with China by announcing on Tuesday (August 13) that it would “delay imposing a 10 per cent tariff on a series of consumer goods imported from China — including laptops and cell phones — until December, in a bid to ease fears about the trade war’s impact on markets and the economy.”

This news helped U.S. equities, but what is good for the U.S. stock market tends to have a negative impact on crypto prices, especially Bitcoin, which many people are starting to think of as a safe haven asset even if the evidence for this belief is not overwhelming just yet.

Bitcoin Cash (BCH)

Although yesterday Bitcoin Cash was doing unusually well by being, at one point, the only cryptoasset in the green among the top 20 cryptoassets by market cap, it no longer enjoys that distinction, and at press time, it is trading at $339, down 0.43% in the past 24-hour period:

BCH-USD 24 Hour Chart on 14 August 2019.png

Yesterday’s price action caused Su Zhu, Co-Founder, CIO, and CEO of Singapore-based crypto-focused hedge fund Three Arrows Capital to send out this tweet:

Cardano (ADA)

Although the ADA price is up 27% in 2019, over the past 7 days and 30 days, the ADA price is down 2.27% and 11.45% respectively. At press time (11:07 UTC), ADA is trading at $0.05196, up almost one percent in the past 24-hour period:

ADA-USD 24 Hour Chart on 14 August 2019.png

One bit of news that might help the ADA price in the coming days is the release of version 1.6 of Cardano on the mainnet, which is mentioned in the following tweet by Cardano creator Charles Hoskinson:

Chainlink (LINK)

Among the top 20 cryptoassets, LINK is the top gainer at the moment with a price increase of just over five percent in the past 24-hour period:

LINK-USD 24 Hour Chart on 14 August 2019.png

One thing that might be helping Chainlink to stand out from the crowd at the moment is the rumor about a possible partnership with NEO:

What do you think?

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Written by Marjorie Contreras

I Love math & how math will help evolvable the new technology. After graduating as Engineer, I start learning about cryptography & blockchain programs. In order to perfect my skills and explore my passion for the blockchain industry, I have been working with many new startups which gave me new exposure in blockchain marketing and startup management.I am eager to join the next companies that I believe in and help them grow. Fin-Tech is where I am stationed at the moment. When I feel that I will be ready, I will move on to other industries and implement disruptive technologies over there so that out-dated systems and ideas will die out and these particular industries shall rise and will give to the community the best that they can present, create and implement.

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