New Bitcoin cash dives sharply in face of a split

Bitcoin was traded lower in the previous session as digital currency miners completed a split of the digital currency in order to create more of the new, split-off coin called “Bitcoin cash”

Futures for the so called “bitcoin cash”, which are an alternative version promoted by a minority of developers, gave back all of its initial 48% increase and dropped by 26% in the session closing at near $214 according to CoinMarketCap.

Bitcoin traded 4 percent lower near $2,754 after dropping to a low of $2,670 earlier in the morning. It should be noted, however, that the Digital currency has doubled its value this year as investors continue to discover it as a lucrative investment channel.

Ethereum gained nearly 12 percent to trade almost at $229.

Oil prices tumble by 2% due to reports of rising Saudi output

Oil prices plunged back below $49 a barrel in the previous session on account of reports that OPEC’s output rose last month despite its deal to slash production.

A survey of analysts conducted by Bloomberg News suggested OPEC’s July output rose by 210,000 barrels a day. Market-monitoring form Petro-logistics said the producer group’s output was up by 145,000 barrels a day last month.

U.S. West Texas Intermediate crude price tumbled by $1.01, a 2% drop, closing at $48.37.

International Benchmark Brent crude futures were trading down $1.04, also a 2% drop, closing at $51.68 per barrel.

* The details mentioned above have been partially adopted from third party sources, including websites, and are displayed “AS-IS” Readers should take into account that all the data that appear in this review can change based on the dynamic of global markets. The information provided by the review ought not to be considered as advice or financial guidance nor can it relate to any investor’s personal requirements or investment goals. In addition, the data should not be conceived as any kind of recommendation to trade and / or carry out a transaction and / or deposit funds.