Cryptocurrency Brief: Bitcoin tests $6,500 mark, Chinese regulators arrest 3 in $87 mln digital theft, Ethereum’s Lubin views bearishness as no hurdle to growth – Monday, August 20th, 2018

BTC/USD: Bitcoin prices, once again disappointed market participants is testing the $6,500 mark during European session Monday after Chinese regulators have arrested three individuals found accused and guilty for $87 million worth of digital assets’ theft. At the time of writing, BTC/USD fell nearly 1 percent to $6,424.90. Meanwhile, the near-term support is seen at $6,200.00 and resistance at $6,600.00.

ETH/USD: Following Bitcoin’s trend, Ethereum prices also suffered, below the $300 psychological mark, proportionately higher than its wider peer. In the meantime, a California-based bitcoin dealer has been prosecuted for carrying out innumerable acts of illegal money transmission and money laundering, according to a report from CoinDesk. Also, Ethereum co-founder Joseph Lubin said that he does not foresee the recent bearishness in crypto prices as a hurdle to growth in the digital industry. At the time of writing, ETH/USD slumped 2.75 percent to $291.13, hitting day’s low of 286.04. Meanwhile, the near-term support is seen at $275.00 and resistance at $320.00.

XRP/USD: Ripple also followed its wider counterparts, after a short-lived recovery late last week. In other news, a South Korean based business man has lost $2.3 million in a scam involved in converting bitcoin to fiat currencies. Further, recent reports have also confirmed that Hong Kong-based cryptocurrency exchange, Okex announced the delisting of various altcoin pairs from its trading platform. At the time of writing, XRP/USD suffered 1.68 percent to $0.33521. Meanwhile, the near-term support is seen at $0.3100 and resistance at $0.3700.

BCH/USD: Bitcoin Cash, remained no different, falling, in line with its counterparts, after a negligible day of recovery last week. At the time of writing, BCH/USD traded 3.44 percent down at $551.30. Meanwhile, the near-term support is seen at $530.00 and resistance at $572.00.

EOS/USD: The EOS, also displayed red patterns, trading near to the day’s low of 4.99, albeit breaching the previous resistance. At the time of writing, EOS/USD slumped 3.48 percent to $5.1080. Meanwhile, the near-term support is seen at $4.8000 and resistance at $5.3500.

LTC/USD: The Litecoin also plunged, similar to its peers, tightly holding above the $55 mark, in a very range-bound trading during Monday’s afternoon session. At the time of writing, LTC/USD traded 3.47 percent lower at $55.89. Meanwhile, the near-term support is seen at $49.00 and resistance at $62.00.