Bitcoin, Ethereum, Filecoin and Hedera Hashgraph Daily Price Analysis – October 6 Roundup

The global crypto market has seen a performance change due to recessive bouts. The recent changes made Bitcoin, Ethereum and others in a bearish mood as they could not keep their gains. The recent change in the market shows that different coins will retest the resistance levels. The decline in the market is mainly due to the unstable political situation and uncertainty about the value of the dollar. Another addition to that is the continuation of hackers’ strike on crypto.

EU MPs have backed a recent resolution on crypto taxation in the EU. On Tuesday, the members of the European Parliament voted for the taxation of crypto. The resolution by Lidia Pereira calls for a general framework for crypto taxation. In addition, the EU has plans to explore blockchain networks to automate the tax process.

The resolution from Lidia Pereira has been given a name The Impact of New Technologies on Taxation: Cryptocurrency and Blockchain. The resolution covers two important areas, which is the examination of the issue of taxation on crypto, while the second is the evaluation of the use of blockchain to simplify the process. An important aspect of this resolution is the use of blockchain to simplify the tax process.

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

BTC bearish

Investors in the US have remained positive on Bitcoin despite the negative trend. There have been calls for the state of Louisiana to buy Bitcoin after the BlackRock sale. Recently, the Louisiana State Treasury announced the sale of approximately $794 million held with BlackRock.

Bitcoin’s performance has lagged as a result of reduced gains. The latest data shows that it has fallen 1.43% in the last 24 hours. The performance of Bitcoin in the last seven days shows a gain of 3.30%.

The price value of Bitcoin is currently in the area of ​​$20,039.18. The market value of Bitcoin is estimated to be $384,065,916,502. The 24-hour trading volume for Bitcoin is around $32,043,444,115.

ETH affected by downward moves

Although Ethereum has not performed as expected after the merger, market analysts have continued to expect great things from it. DeFi economist David Shuttleworth, who serves at blockchain firm Consensys, has called post-merger Ethereum the foundation of the internet. He suggested that it will serve the purpose of reshaping the internet soon.

The performance of Ethereum also shows a decrease in gains. The latest data shows that it has gone down 1.14% in the last day. The seven-day data for this coin shows that it has added 2.11%.

The price value for ETH is currently in the area of ​​$1,357.38. The market cap of this coin is approximately $166,409,225,197. The 24-hour trading volume for this coin is around $11,014,795,041.

FILE in loss

Filecoin has also been in losses due to the bearish trend. The latest data shows that it has decreased 1.51% in the last 24 hours. The seven-day data shows that it has declined by 3.92%. The price value for FIL has dropped to the $5.52 range.

The market cap of FIL is estimated at $1,627,013,755. The 24 hour trading volume for this coin is around $106,698,346. The same amount in its original currency is approximately 19,343,556 FIL.

The performance of Hedera Hashgraph has not been different from other coins on the market. The latest data shows that it has retreated by 0.79% in a day. The weekly data shows that it has increased by 0.50%. The price value for HBAR is currently in the area of ​​0.5794.

The market capitalization of Hedera is estimated at $1,329,455,974. The 24 hour trading volume for this coin is approximately $35,691,578. The circulating supply of this coin is approximately 22,968,168,351 HBAR.

Final thoughts

The performance of the global crypto market has shown a trend of decline. The latest data shows that it has affected Bitcoin, Binance Coin and others. The negative trend in the market is a result of instability at a global level. The effect of these changes is a decrease in the global market value. The latest changes show that it is estimated at 958.23 billion dollars.