BTC becoming more affordable

Bitcoin is becoming more affordable as the price continues to be reduced as investors, bankers, traders, and other industry players are making moves into new coins, cash, or other securities on the market during the turbulent market shifts. Most recently ETC passed the $3 USD as a top volume gainer, while BTC dropped below the $600 USD for the first time in months:

Screen shot 2016-08-02 at 1.25.16 PM

Other indicators include a sell-off on the dupe ETH, as well as a slide in LTC, making the market caps shift, putting ETH in second place behind BTC, followed by ETC, STEEM, XRP, and LTC.

Mining Revenue has all but disappeared since the halving, and with the lower prices, some miners are switching their mining operations to other coins.

Screen shot 2016-08-02 at 1.21.42 PM

In Other News

Bitfinex, one of the top exchanges in the US has experienced a security breach and is working with authorities to resolve the issue, and is handling their investigation expediently so traders can get back in and continue to work their hedges.

It is unclear whether all the balances will be settled into USD, but if the market continue to slide during the normalization period, then some traders may be shorted on price points on coins that rise, but will also have the option of buying in on coins that are lower if prices fall, so it should work out. There is no word on how much funding was breached, but stay tuned for all the latest details.


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