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Cryptocurrency Brief: Bitcoin and altcoins drop on likelihood of increased regulation, Litecoin slumps over 2 pct – Wednesday, September 19th, 2018

BTC/USD: Bitcoin prices continued its range-bound trading during late European session Wednesday, although remaining tad lower. This comes after New York Attorney General claimed that crypto exchanges are unsafe for businesses, being open to the risks of market manipulation, following an attempt by U.S. regulators to increase the degree of regulation in the digital currency market. At the time of writing, BTC/USD fell 0.23 percent to $6,320.00. Meanwhile, the near-term support is seen at $6,200.00 and resistance at $6,500.00.

ETH/USD: Similar to Bitcoin prices, Ethereum too traded tad slightly on the downside, tracking traces of pessimism from NY Attorney General, who claimed that crypto exchanges have turned riskier for businesses, highly conducive for manipulation. At the time of writing, ETH/USD slipped 0.33 percent to $208.05; the day’s high was seen at $215.83 and low at $206.01. Meanwhile, the near-term support is seen at $193.00 and resistance at $225.00.

XRP/USD: Ripple, also, declined, imitating the downtrend in its bigger peers despite hopes of the launch of Ripple company-based commercial application for xRapid by early next month. At the time of writing, XRP/USD traded 0.88 percent lower at $0.31678. Meanwhile, the near-term support is seen at $0.2600 and resistance at $0.3500.

BCH/USD: Bitcoin Cash, is trading close to the day’s low of 423.1 in a tight-knit session that witnessed steady trade over the past two days. However, the price of BCH has slumped over one percent during Wednesday’s afternoon session. At the time of writing, BCH/USD lost 1.13 percent to $427.80. Meanwhile, the near-term support is seen at $410.00 and resistance at $460.00.

EOS/USD: The EOS, too fell, in line with Bitcoin, tracking comments from UK’s Treasury Committee that has called for an immediate regulation of the entire crypto sphere, in addition to earlier claims from NY Attorney General that cryptocurrency exchanges are risky businesses. At the time of writing, EOS/USD also declined nearly 1.50 percent to $4.9700. Meanwhile, the near-term support is seen at $4.75 and resistance at $5.47.

LTC/USD: Litecoin, also, remained no different, slumping during late European trading hours on Wednesday, following a similar movement in its counterparts as higher authorities of the financial sphere disburse sentiments for increased regulation into the virtual currency market. At the time of writing, LTC/USD plunged 2.50 percent to $52.674. Meanwhile, the near-term support is seen at $47.00 and resistance at $60.00.

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