There appears to be a relationship between the higher volume trading and the recent downtrend in the Bitcoin and Altcoin markets. With over $1 Billion USD in market trading in Bitcoin, and hundreds of millions in the top Altcoins like Litecoin and Ethereum, it is clear that the markets are being pushed lower by some large players.
Some analysts predict that the prices will continue in a downtrend before climbing again, and with the higher than average volume, it is tough to say where the majority of the coins are going at this point.
A little bit of light in the dark is coming from the BTU – Bitcoin Unlimited Futures, which has been trading on Bitfinex and HitBTC, where there was a price gap for a long time between the two exchanges, and has since aligned around the $239.00 USD price point. While there hasn’t been much movement on the BTU fork, it is clear that the Bitcoin developers have been working hard to maintain a steady development around the mining of Bitcoin, as well as increase transaction times without increasing the file size too much.
In Other News
There are a ton of conferences coming up in the financial sectors, which shed some light on the future of the industry, including Day 3 of the Igaming Super Show, including a panel discussion from Craig Wright:
Bitcoin’s Smart Future: Artificial Intelligence, Intelligent Bots & How The Bitcoin Network Will Change the World
Dr. Craig Wright, a key luminary in the Bitcoin community and one of the early minds behind Bitcoin, explains his vision of the future – where blockchain goes beyond recording transactions, and becomes a Super-Network of AI and Bots, creating deep neural networks and swarm-based systems that will control the internet of things and intelligent objects around the worldDr. Craig Wright, Chief Scientist, nChain
We also have the State of Digital Money Conference coming up in Los Angeles, California on July 22, 2017, where panelists will discuss some of the challenges and opportunities coming.