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Bitcoin, Binance Coin, Polkadot, and Polygon Daily Price Analyses – 6 August Morning Price Prediction

Bitcoin
TL;DR Breakdown
  • The global crypto market couldn’t retain its gains as it has shed 0.47% in the last 24 hours.
  • The value of Bitcoin has seen a downtrend as it has regressed 1.03% over the last day.
  • The performance of Binance Coin has also seen lows as it has lost 1.31% in 24 hours.
  • Polkadot is still bullish as it has added 1.88%, while Polygon has seen a depreciation of 1.23%.

The global crypto market has not been able to continue its momentum. The recent changes show that it has shed a considerable amount. If we look at the performance of Bitcoin, Binance Coin, and other names, there is a trend for losses. The recent positive change was a ray of hope for the investors as the market might have crossed the current barrier. The ongoing changes have halted its progress, but it is yet to be seen how long it will continue.

CME Group has plans to issue Euro-based BTC and ETH futures. According to the available information, one of the largest derivatives markets, i.e., CME Group, has plans to launch this service on 29 August. It revealed the details of the upcoming service on 4 August, and it will be an expansion of the services that it offers.

Tim McCourt, a company representative, said that the increased demand has forced them to take this step despite uncertainty. Their futures contracts will provide accurate trading tools, enabling them to access top digital currencies. As these contracts are available in Euro, it will spur the investors’ interest.  

Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.

BTC back to bearish lows

There have been claims from various persons regarding the creation of Bitcoin. In a recent verdict, a UK court has declared the lawsuit of a self-proclaimed Bitcoin innovator null. He had filed the lawsuit against a podcaster, but it couldn’t gain him anything.

BTCUSD 2022 08 06 17 10 32
Source: TradingView

The changes for Bitcoin show that it has returned to bearishness. The ongoing changes have brought losses of 1.02% over the last 24 hours. The seven-day data shows a loss of 3.29%.

The price value for Bitcoin is in the $23,176.38 range. The market cap value for Bitcoin is estimated to be $442,896,432,004. The 24-hour trading volume of Bitcoin is about $24,080,259,965.

BNB loses momentum

Digital ID solution provider Lifeform will receive support from Binance Labs. Binance co-founder Yi He will own the company’s capital arm. It will help the company innovate and create opportunities for further development.

BNBUSDT 2022 08 06 17 10 58
Source: TradingView

Binance Coin has seen a loss of 0.33% over the last day. The changes have brought it back from bullishness. The weekly changes show a gain of 8.33%, affecting its consolidated value.

The price value for BNB is in the $314.42 range. In comparison, the market cap value for this coin is estimated to be $50,747,450,969. The 24-hour trading volume of this coin is about $1,305,823,279.

DOT still bullish

Polkadot has little been affected by the ongoing market changes. The latest data shows a gain of 1.88% over the last 24 hours. The seven-day data shows a gain of 0.66%. The price value for DOT is in the $8.69 range.

DOTUSDT 2022 08 06 17 11 28
Source: TradingView

The market cap value for Polkadot is estimated to be $9,592,791,502. The 24-hour trading volume of this coin is about $520,608,640. The same amount in its native currency is about 59,929,655 DOT.

MATIC losing further

Polygon has also been in loss due to market bearishness. The latest data shows a loss of 1.23% over the last day. The weekly data shows a loss of 1.64% as it couldn’t retain its gains. The ongoing changes have brought its price value to the $0.9243 range.

MATICUSDT 2022 08 06 17 11 59
Source: TradingView

The market cap value for MATIC is estimated to be $7,432,654,229. The 24-hour trading volume of this coin is about $434,367,722. The circulating supply of this coin is about 8,034,803,943 MATIC.

Final Thoughts

The global crypto market has seen a change of pace due to reduced gains. The ongoing changes have left the market with dominant bears compared to the previous two days. The bearish trend has affected leading coins like Bitcoin, Ethereum, Binance Coin, etc. The mentioned changes have also affected the global market cap value. It is currently at $1.10 trillion, but it might see negative changes. The previous bullish wave might have taken it forward.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Muhammad Ali

Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

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