Markets Update: Short Term Recovery – Is a Bullish Reversal in Sight?

Markets Update: Short Term Recovery - Is a Bullish Reversal in Sight?

Cryptocurrency prices are back on the mend after a great majority of digital assets plunged last week losing 10-20 percent or more in value. Since then, the digital currency economy has regained some strength bouncing back from a low of US$186 billion to $205 billion on Saturday, September 15.

Also read: Test Driving the Money Button — Simple Enough for a 9-Year Old

Crypto-Markets See Some Gains After Some Slashed Prices Last Week — But Is It Enough for a Recovery Rally?

Last week, as BTC/USD and ETH/USD short positions (bets against the cryptocurrency’s price) stacked up reaching all-time highs, many traders were unsure of the outcome. Then, throughout much of the week, a good portion of digital assets except bitcoin core (BTC) lost significant value, bringing BTC market dominance close to 60 percent. However, 48 hours later cryptocurrencies like ethereum (ETH) rebounded in value and spiked 20 percent, bitcoin cash jumped over 15 percent and BTC prices saw a minimal 5 percent lift. This has led to BTC’s market dominance among 1900+ coins down to 55 percent. All of the consecutive rises in value pushed the entire crypto-economy up over $19 billion leading to today’s overall $205 billion dollar market valuation. The top ten cryptocurrencies are seeing gains between 1-9 percent with ETH and LTC leading the pack today. 

Markets Update: Short Term Recovery - Is a Bullish Reversal in Sight?
Top ten crypto-market caps on Saturday, September 15, 2018.

There’s a bit more optimism this week as there’s been plenty of positive news within the cryptocurrency ecosystem. Overstock.com revealed recently that customers will soon be able to purchase digital assets through its portfolio company Bitsy. Abra added native bitcoin cash (BCH) support this week to their multi-currency wallet. Meanwhile, Bitgo has received regulatory approval to begin offering custodial services for institutional digital currency investors.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) this Saturday is trading for an average spot price of around $458 per BCH. The decentralized cryptocurrency has an overall market capitalization of around $7.9 billion and 24-hour trade volume is $280 million. According to Satoshi Pulse statistics, the top five exchanges swapping the most BCH this weekend include Lbank, Coinex, Okex, Huobi-pro, and Hitbtc. The top currency pairs traded for bitcoin cash this weekend include USDT (46.5%), BTC (32.7%), ETH (10.1%), USD (5.6%), and QC (2.2%). Bitcoin cash markets hold the sixth highest trade volumes today below litecoin (LTC) and just above dash (DASH) volumes.

BCH/USD Technical Indicators

Looking at the 4-hour and daily charts for BCH/USD on Bitfinex shows BCH dropped about 22 percent since the first week of September. But over the last 48 hours BCH bulls have managed to recover over 15 percent of those losses. On the 4-hour chart, the two Simple Moving Averages (SMA) have recently cross paths with the 200SMA above the 100SMA trendline. This indicates the path towards the least resistance is still the downside. However, the daily Relative Strength Index (RSI) is meandering around 37.4 indicating bears are likely growing exhausted trying to hammer these markets. BCH bulls need to close out today and tomorrow’s trading sessions with some higher highs in order for them to reverse the current trends. Looking at order books shows there are large buy walls between the current vantage point and $550. On the back side, if bearish sentiment regains strength, then there are solid foundations from here until $388.

Bitcoin Core (BTC) Market Action

Bitcoin core (BTC) is trading for $6,555 per coin today and the entire market valuation is around $113 billion. Similarly to BCH trade volume, BTC’s global trade volume is much lower than usual this weekend at $3.52 billion swapped over the last 24 hours. The top trading platforms today exchanging the most BTC include Bitflyer, Binance, Bitmart, Coinex, and Idax. BTC’s volume by currency shows tether (USDT) holds 58 percent of today’s market trades. This is followed by USD (20%), JPY (10.2%), KRW (3.4%), EUR (2.7%), and BCH (2%).

BTC/USD Technical Indicators

The BTC/USD daily and 4-hour charts on Coinbase Pro and Bitstamp indicate bears are showing signs of tiring out. BTC/USD charts are similar to BCH/USD with some slight differences this weekend. For instance, the 100SMA is above the 200SMA trendline showing the path towards the least resistance may be towards the upside. However, the two SMAs look as though they may cross hairs in the short term indicating a different outlook. The daily RSI (47.6) shows the bulls and bears are parting ways and a trend reversal could be in the cards. Order books show there’s some heavy resistance from here until $6,900 and another pitstop around $7,100-7,200 range. Looking behind us we can see some foundational support between now until the $5,900-5,700 and bears will be stopped there for what looks like a while.

The Verdict: Cryptocurrency Markets Need to Close the Weekend With Some Daily Highs

Positivity in the news is a bit better but in order to see a significant bullish trend reversal crypto-markets need users, traders, and demand from emerging markets. As mentioned above, crypto-bulls need to tread past some higher highs and close out the day’s trading sessions on a good note. But as we’ve seen in the past there’s been plenty of bull traps this year, making traders leery of betting on a trend reversal. The next few days will determine if digital asset markets can recover or drop below the bottoms they’ve held for the past nine months.

Where do you see the price of BTC, BCH, and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Short Term Recovery – Is a Bullish Reversal in Sight? appeared first on Bitcoin News.

Markets Update: Cryptocurrencies See Some Small Gains This Weekend

Markets Update: Cryptocurrencies See Some Small Gains This Weekend

Over the past few days, a good portion of cryptocurrency assets have been increasing in value. In fact, this Saturday, August 25, 19 out of the top 20 digital assets have seen gains in the past 24 hours. Today the total market capitalization of the entire crypto-economy is around $219B USD with about $10.88B in daily trade volume. Most cryptocurrencies this weekend are up in value between 2-6 percent during this morning’s trading sessions.

Also Read: $1.1 Million Landmark Crypto Fraud Case Establishes CFTC Jurisdiction

Cryptocurrency Markets See Some Slight Upswing

This weekend cryptocurrencies are seeing some slight jumps in value after roughly 8 full days of consolidation and sideways action. For instance, for most of the week BTC/USD prices hovered around the $6400 region but four days ago spiked really quickly to $6900 squeezing out a bunch of shorts. However, the squeeze was short-lived and did not last long as BTC/USD prices dipped back down to the $6400 zone again. Bitcoin cash (BCH) markets did the same thing touching a high of $567 on August 21 but reverted back to the $530 range.

The Top Digital Assets

The top trading volumes today belong to bitcoin core (BTC), tether (USDT), ethereum (ETH), EOS, and bitcoin cash (BCH). At the moment, BTC/USD values are hovering around $6749 per coin with $3.93B worth of daily trade volumes. BTC/USD is up around 3 percent this Saturday. Ethereum commands the second largest market valuation and ETH market prices are up 2.2 percent this weekend. One ETH is trading for $281 per coin at the time of publication. Ripple (XRP) prices are doing better today and are up 2.6 percent as one XRP’s spot price is averaging around $0.32 per coin. Lastly, EOS values have gained 2.84 percent today as each coin is worth about $5.06 across global exchanges.

Markets Update: Cryptocurrencies See Some Small Gains This Weekend
The top cryptocurrency markets on August 25, 2018.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) markets are up 2.3 percent and each BCH is trading for $536 per coin. At press time BCH has around $293M in 24-hour global trade volume swapped on worldwide trading platforms. The top exchanges swapping the most BCH today include Binance ($44.92M), Okex ($40.75M), Coinex ($40.13M), Huobi Pro ($33.86M), and Hitbtc ($30.86M). The top currency pairs today swapped with BCH include tether (USDT 49.8%), bitcoin core (BTC 39.3%), USD (4.3%), KRW (2.1%), and QC (1.7%). Ethereum (ETH) captures about 1.54 percent of daily BCH trades this Saturday.

Markets Update: Cryptocurrencies See Some Small Gains This Weekend
BCH/USD is up 2.3% on Saturday, August 25, 2018.

BCH/USD Technical Indicators

Looking at BCH/USD 4-hour charts on Bitfinex and Bitstamp shows the two Simple Moving Averages (SMA 100 & 200) have a decent gap with the longer term 200 SMA above the 100 SMA trendline. This indicates presently the path towards the least resistance is still towards the downside. The Relative Strength Index (RSI) is meandering around 50 at the moment showing consolidation and indecisiveness amongst traders. MACd has been heading northbound during the early morning BCH/USD trading sessions and shows room for improvement. Looking at order books indicates BCH bulls have some strong resistance up until $575. They will catch a short breather before being stopped again at $590-640 per BCH. On the backside, if bears gain control of markets then there are some solid foundations from the current vantage point up until $490 and then some beefier support around $475.

Markets Update: Cryptocurrencies See Some Small Gains This Weekend
BCH/USD charts Bitfinex, August 25, 2018.

The Verdict: Positivity Increases but Skepticism Remains

Right now traders seem to have some increased optimism because markets are showing some slight gains over the past two days. Smart traders understand that betting on the eight months of bear markets ending is still not the greatest wager right now, and most remain cautious. A lot more bullish signals must be confirmed before a great majority of traders start betting long again. Until then people will remain skeptical of all the market action after the last eight months of bull traps and dead cat bounces.

Where do you see the price of BTC, BCH and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Cryptocurrencies See Some Small Gains This Weekend appeared first on Bitcoin News.

Introducing Bitcoin Cash Charts a Graphical Constellation of BCH Data

Introducing Bitcoin Cash Charts a Graphical Constellation of BCH Data

Since we launched Bitcoin.com back in 2015 all of us have been extremely busy building our website to be the number one go-to source for all things Bitcoin related. These days we have forums, a non-custodial wallet, games, educational resources, a crypto-market data portal called Satoshi Pulse, a newsdesk, and so much more. This week Bitcoin.com has launched our newly revamped charts portal which now shows the entire Bitcoin Cash (BCH) ecosystem at a glance. We’re super pumped to share our new chart page that shows the BCH price, market capitalization, daily transactions, money supply and a myriad of other charted factoids that’s sure to make any BCH supporter’s life a whole lot nicer.

Also read: Coingeek Speaks on Consensus Changes and Next-Gen ASIC Chip

Bitcoin Cash Charts

Bitcoin.com is pleased to announce our new Bitcoin Cash Charts web portal a site that’s dedicated to providing the public with a beautiful and rich display of the BCH ecosystem. Every single day there’s a lot going on within the Bitcoin Cash environment and people usually have to jump around to multiple websites to get charts and data in order to get certain info on their favorite cryptocurrency. With Bitcoin Cash Charts we’ve packaged everything all in one place for BCH enthusiasts, businesses, traders, merchants and basically anyone interested in this innovative technology.

Introducing Bitcoin Cash Charts a Graphical Constellation of BCH DataOur re-charged charts portal for BCH market action shows viewers:

  • The Bitcoin Cash Price
  • BCH Market Capitalization
  • BCH Daily Transactions
  • BCH Money Supply
  • Chain Value Density
  • Price Volatility

Bitcoin Cash Activity, Blocks, and Economics

Our charts take things a bit further with information on BCH transaction values, total transactions, fee percentage, fee rate, transaction amount, average UTXO amount, and the avg. UTXO value. Big block fans can get a glimpse at the Bitcoin Cash network’s blocks as our charts also measure block size, block intervals, blockchain size, block height, daily blocks, and the number of transactions per block. The economic section covers a broad constellation of Bitcoin Cash data as well showing the decentralized currency’s inflation rate, Metcalfe’s Law, the Velocity of Money and more.

Introducing Bitcoin Cash Charts a Graphical Constellation of BCH Data

Advanced Charts and Customizable Toggles  

Lastly, for the tech-savvy Bitcoin Cashers, the advanced section shows transaction size, output volume, UTXO growth and other statistics. Moreover, there are many toggles within each chart interface that can change a wide array of perspectives like a linear or logarithmic view, night & day mode, grid display, and a few more features that give the user experience a more custom feel.

Introducing Bitcoin Cash Charts a Graphical Constellation of BCH DataAt Bitcoin.com we are thrilled to launch such a rich display of charts and graphical information for people seeking knowledge about the BCH ecosystem. We also want people to share our recorded data and Bitcoin Cash Charts gives our visitors the ability to download a chart’s CSV file, an embedding code, and a markdown Reddit link as well. So if you like data that charts a large portion of the flourishing Bitcoin Cash network then our charts section is the place to be.

What do you think about Bitcoin.com’s recharged charts section covering the Bitcoin Cash ecosystem? Let us know your thoughts on this subject in the comment section below.


Images via Shutterstock, and Bitcoin Cash Charts


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Introducing Bitcoin Cash Charts a Graphical Constellation of BCH Data appeared first on Bitcoin News.

Markets Update: Crypto Prices Consolidate After Some Volatility

Markets Update: Crypto Prices Consolidate After Some Volatility

Cryptocurrencies markets have been volatile and very indecisive over the last 48-hours as the entire digital asset economy lost billions in value since US regulators postponed their decision concerning the Cboe/Vaneck BTC-based exchange-traded fund (ETF) last week. This Saturday, August 11, during the afternoon’s digital currency trading sessions (EDT), cryptocurrency trade volumes and price values are seeing some slight recovery.

Also Read: Wormhole Mainnet and Developers’ Guide Launched

Saturday Trading Sessions Show Some Market Rebounds

At the moment a vast number of digital assets have rebounded back a hair after being smashed down by bearish forces over the last two days. At the time of writing the entire cryptocurrency economy is valued at $219B and there’s been $13.5B worth of digital assets traded over the last day. The top cryptocurrency market capitalizations are seeing some recovery after dropping very low during the early morning trading sessions. For instance, bitcoin core dipped to a low of $6,062 this morning, but around 1 pm EDT BTC/USD market valued pumped back up to a high of $6,494 per coin. However, most coins besides BTC have lost significantly more and BTC’s market dominance among all 1,600+ capitalizations has crossed the 50 percent region.

Bitcoin Core (BTC) Market Action

At the time of publication, the price of bitcoin core (BTC) per coin is roughly $6,390 on Bitstamp. The currency’s market valuation is $110B and there’s been $4.6B traded over the last 24-hours. The top trading platforms swapping the most BTC today includes Bitflyer, Okex, Binance, Bitfinex, and Fcoin. The biggest pair traded with BTC on August 11 is tether (USDT) which is capturing 54 percent of trades. This is followed by USD (25.6%), JPY (9.7%), EUR (3.12%), and BCH (2.6%).

Markets Update: Crypto Prices Consolidate After Some Volatility

BTC/USD Technical Indicators

After the quick pump up, BTC/USD charts are moving sideways for the time being after losing a touch of the gains. Right now the 4-hour BTC chart on Bitstamp and Coinbase show the MA100 is above the MA200 but the trend lines look like they may cross hairs. Currently, this indicates the path of less resistance could be towards the upside if things stay positive. RSI levels are mid-range (47.15) confirming indecisiveness at the moment, for now, buyers are able to keep the current support afloat. Looking at order books on the upside is not so bad if BTC bulls keep pressing without exhaustion. There will be definite pit stops at $6,650 through $7K for bulls to penetrate the higher ground. On the flipside, if bears can manage to fight harder then things will be tough for them at $6,100-6,200 and broader support at $5,850.

Markets Update: Crypto Prices Consolidate After Some Volatility

Bitcoin Cash (BCH) Market Action  

Bitcoin cash (BCH) prices are around $568 per coin right now and the overall market valuation of BCH is $9.87B today. BCH markets hold the fifth highest trade volume above ripple (XRP) and below EOS. There’s been $359M worth of BCH traded over the last 24-hours and the top BCH exchange today is Coinex. The other top exchanges swapping the most BCH this Saturday includes Okex, Binance, Huobi, and Hitbtc. Tether (USDT) captures the most BCH trades today with 56 percent of all bitcoin cash swaps. This is followed by BTC (27.5%), USD (9.2%), QC (2.3%) and ETH (1.9%).

Markets Update: Crypto Prices Consolidate After Some Volatility

BCH/USD Technical Indicators

Looking at charts today shows BCH markets have also seen a small uptick in price values this Saturday. The MA200 is above the MA100 trendline which could mean some downside dips after the day’s higher percentages. RSI levels (38) are lower than BTC as BCH/USD trading session showing signs of bears getting exhausted. Similarly to BTC/USD prices, BCH peaked earlier but since then the heat has simmered down. Looking at order books towards the northside shows BCH bulls must muster up enough energy to surpass resistance between the current vantage point and $600. Beyond that, there could be another pitstop around $650 per BCH as well. If bears find a way to bring markets down again there’s plenty of foundational support at $550 through $530.

Markets Update: Crypto Prices Consolidate After Some Volatility

The Verdict: Short-Term Uncertainty and Indecisive Markets

As we stated above the verdict this weekend is uncertainty mixed with a dose of indecisive markets. With the ETF decision postponed and the past seven months of pumps and dumps its hard to know what’s in store for cryptocurrency values over the next few weeks.

Markets Update: Crypto Prices Consolidate After Some Volatility

For now, prices are showing signs of consolidation and traders are moving into new positions — While some traders definitely are hoping to catch some cheap prices others think a reversal may be in the cards soon.

Where do you see the price of BTC, BCH and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

 

The post Markets Update: Crypto Prices Consolidate After Some Volatility appeared first on Bitcoin News.

Markets Update: Crypto-Prices Slide After SEC Announcement

Markets Update: Crypto-Prices Slide After SEC Announcement

Cryptocurrencies are dropping in value once again on Wednesday, August 8 as most of the top digital assets are down between 9 to 18 percent over the last 24 hours. Prices started dropping yesterday after the U.S. Securities and Exchange Commission (SEC) extended the Cboe exchange-traded fund decision. Immediately after the announcement, bitcoin core (BTC) values shaved off $400 in an hour and the currency has lost another $300 in spot value today.

Also read: CFTC-Regulated Ledgerx Launches Interest-Bearing BTC Savings Platform

After the SEC Announcement Cryptocurrency Prices Slide Significantly  

Digital currency values are hurting today as the entire cryptocurrency market capitalization has dropped since our last markets update from $250B to $231B on August 8. Despite the drop in value, trade volumes for all 1600+ coins has increased to $15B over the last day. A few days ago, cryptocurrencies saw the first dip before the SEC announcement, which took place after the Intercontinental Exchange (ICE) deal was revealed. However, after the quick dip, BTC/USD prices moved back up to the $7,140 region for a short period of time. The next two significant drops in value occurred after the SEC revealed delaying the ETF decision leading to today’s BTC/USD low of $6,391 per coin.

Markets Update: Crypto-Prices Slide After SEC Announcement
BTC/USD prices over the last 48 hours on Bitcoinwisdom (15M-chart).

Bitcoin Core (BTC) Market Action

Markets Update: Crypto-Prices Slide After SEC AnnouncementBitcoin core (BTC) prices at the moment are around $6481 per BTC and the cryptocurrency’s market valuation today is $111B. Daily trade volume is decent but nothing spectacular at $5B USD in BTC traded over the last 24 hours. According to Satoshi Pulse statistics, the exchanges swapping the most bitcoin core this Wednesday include Bitflyer FX, Binance, Bitfinex, Okex, and Coinbene. The top currency traded with BTC currently is tether (USDT) which captures 54.2 percent of trades. This is followed by USD (24%), JPY (11.3%), EUR (3.9%), and KRW (2.6%). BTC is seeing a daily loss of around 8 percent today but the coin’s market dominance among all 1600+ currencies is 49 percent.

Markets Update: Crypto-Prices Slide After SEC Announcement

BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD chart on Bitstamp and Coinbase shows bears have a tight grip over markets right now. The chart’s two moving averages (MA) has the 100MA above the longer-term 200MA trendline which means things will likely stay bearish for the short term. However, RSI levels (24.5) show extremely oversold conditions and there could be a small uptick if prices sink lower. Order books show heavy resistance from the current vantage point up until $6750 if bulls can manage to climb that high. On the backside, foundational support is bountiful and moving back is going to take some time. If negative prices continue, there will be longer pitstops between $6,300 and $5,900 as there is solid support in this region.

Markets Update: Crypto-Prices Slide After SEC Announcement
BTC/USD Coinbase August 8, 2018.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH)Markets Update: Crypto-Prices Slide After SEC Announcement values have also dipped considerably since our last markets update as one BCH is trading for $604 at press time. This Wednesday, BCH has an overall market capitalization of around $10.5B and 24-hour trade volume is about $443M. The top five bitcoin cash trading platforms on August 8 include Coinex, Huobi, Okex, Binance, and Hitbtc. BCH is seeing a daily loss of around 14.2 percent and is the fourth highest market valuation among every coin in existence. The top currency swapped for BCH today is tether (USDT) with 54 percent of today’s BCH trades. Tether is followed by BTC (26%), USD (10.9%), QC (2.2%), and ETH (2.1%).

Markets Update: Crypto-Prices Slide After SEC Announcement

BCH/USD Technical Indicators

The 4-hour BCH charts on Bitfinex and Bitstamp indicate that BCH markets have seen better days. Now the 100MA and 200MA gap is much smaller on the BCH/USD 4-hour chart and it looks like the two may cross hairs soon. If they do cross hairs, this means the path towards the least resistance would be the upside but for now, it remains on the downside. RSI levels also show oversold conditions as the oscillator hovers around 21.4 at press time. Looking ahead at order books, BCH bulls need to surpass mega-resistance from now until $640 and after that, it may be easier to move northbound. If bears get their way, the fall to sub-$600 regions will hold decently between $590 through $530 for some time.

Markets Update: Crypto-Prices Slide After SEC Announcement
BCH/USD Bitfinex August 8, 2018.

The Verdict: Skepticism Increases as Prices Draw Closer to the Perceived Bottoms

Of course, now there are a bunch of traders calling for lower prices and most cryptocurrencies are nearing close to the bottoms they touched a few times already. For instance, BTC/USD spot prices have dipped three times to the $5,600-5,800 region but have not dropped lower than that yet.

Markets Update: Crypto-Prices Slide After SEC Announcement
The top ten cryptocurrency capitalizations on August 8, 2018, according to Satoshi Pulse.

Today’s verdict adds increased skepticism towards bullish prices in the short term, and most traders assume things will trade sideways for a while and values may slide a touch further. Questions still remain: Will crypto-prices stay above the last few bottoms or will they sink lower this time around?

Where do you see the price of BTC, BCH and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

 

The post Markets Update: Crypto-Prices Slide After SEC Announcement appeared first on Bitcoin News.

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

Cryptocurrency markets are steadily coasting along after suffering from some volatile low swings last week. Over the past 24 hours, most cryptocurrencies are still in the red nurturing losses between 1-3 percent, and a few are in the green by a few percentages. At the time of publication, the price of bitcoin cash (BCH) is hovering around $850 per coin. Meanwhile, bitcoin core values are meandering just above the $6,500 region.

Also read: William Shatner Joins Bitcoin Mining Project, Admits He Doesn’t Quite Get It

SEC Announcement Adds Second Wind Into the Cryptocurrency Market Sails

Since last week’s ‘Bloody Sunday’ cryptocurrency market have seen some slight recovery but not by much. Markets were dropping pretty low up until the U.S. Securities and Exchange Commission (SEC) revealed cryptocurrencies that are decentralized are not securities. After the SEC’s head of the Division of Corporate Finance, William Hinman, made these statements digital asset markets saw a small rally and this push has kept markets from drawing lower, at least for a short period of time. The overall market valuation for all 1600+ cryptocurrencies is currently worth around $280Bn USD and 24-hour trade volume for the entire lot of digital currencies is $10.8Bn.

BCH Market Action

Bitcoin cash markets have steadily held above the $840 – $855 region over the past few hours with around $303Mn in 24-hour trade volume. Just like before last week’s dump, trade volume is pretty flat and action has simmered down over the past day. The top exchanges swapping the most BCH today are Okex, Exx, Hitbtc, and Bitz. Bitcoin core (BTC) currently represents 48.8 percent of the trades swapped with BCH today. This is followed by tether (USDT 28.8%), USD (13%), KRW (4%) and ETH (2%). As of this writing, one BCH is equivalent to 0.1309 BTC, and bitcoin cash is the fifth highest trade volume.

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

BCH/USD Technical Indicators

The daily and 4-hour charts on Bitfinex show that BCH bulls have some resistance ahead in order for the markets to progress upwards. The two Simple Moving Averages (SMA) on the 4-hour BCH/USD chart show the short-term 100 SMA is above the long-term 200 trendline.

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

The two SMAs recently crossed hairs and this indicates a move to the upside could be in the cards. Both the Relative Strength Index (RSI) oscillator (54) and the MACd show deep consolidation and a touch of uncertainty. Looking at order books shows BCH bulls have some solid resistance past the $870 mark and some more between $900 – $950. On the backside, stronger foundations have been built up over the past few days and BCH bears will see some pit stops around $825 and $775.

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

BTC Market Action

As mentioned above, bitcoin core markets have been hovering just above the $6,500 territory for most of today’s trading sessions. Trade volume over the past 24 hours for BTC is around $3.1Bn and the overall market capitalization today is $111Bn. The top five exchanges by BTC trade volume on June 16 are Bitfinex, Coinbase, Bitstamp, Kraken, and Neraex. The Japanese yen today is dominating BTC trades today by over 71 percent. This is followed by tether (USDT 14.3%), USD (9.1%), KRW (1.6%), and the EUR (1.3%). Currently, BTC dominance amongst all the other markets is 39.9 percent.

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

BTC/USD Technical Indicators

4-hour and daily charts for GDAX and Bitstamp’s BTC/USD markets show quite a bit of consolidation as well. We can see from this chart that the two SMAs have also crossed paths with the 100 SMA just above the 200 SMA trendline. This indicates the path of least resistance will be towards the upside, but much like the BCH/USD 4-hour chart the gap is small, and the two could easily cross again.

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

RSI levels are the same as well (52) and the MACd looks to be heading southbound soon. The current resistance zone for BTC bulls is between $6650 and $6775 (20 and 50 MA) at press time. On the back side, bears will meet resistance between 6400 and 6200 and significant foundational buy support beyond that. If things were to go into the sub-$6K region, the $5K region will likely hold for a very long time. However, at any time between this vantage point and that theoretical region, we could see a strong impulse leg upward.

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

The Top Cryptocurrency Markets

On Saturday, June 16 the second highest valued market held by ethereum (ETH) is up 1.7 percent and one ETH is averaging around $500. Ethereum values over the last seven days are down 14 percent. Ripple XRP markets are down 0.4 percent over the last 24-hours and down 18 percent during the course of the week. One XRP is trading for $0.53 cents per token. The fifth largest market, EOS, is up 0.12 percent and down 23 percent over the last seven days. The EOS token is trading for $10.67 and the currency holds the fourth highest trade volumes today.

Markets Update: SEC Adds a Brief Market Spike — But Will It Last?

The Verdict: Skepticism Remains Strong

The verdict this weekend still leans towards the bearish side taking into consideration the current charts, but mostly, market volumes have been considerably low. The SEC news helped add some positivity to an otherwise extremely gloomy week as far as markets were concerned. Traders are likely to remain skeptical for the time being until some bullish signals appear. The good news is markets have found support once again but where it will take us from here is hard to say.

Where do you see the price of BCH, BTC, and other coins headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, Crypto Compare, and Satoshi Pulse.


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The post Markets Update: SEC Adds a Brief Market Spike — But Will It Last? appeared first on Bitcoin News.

Markets Update: Digital Currency Market Bulls Push Back After Decline

Markets Update: Digital Currency Market Bulls Push Back After Decline

Cryptocurrency prices are making some headway today after suffering from a bearish onslaught last week. Since our last markets update the digital asset economy has gained $26 billion over the last five days. The price of bitcoin cash (BCH) touched a high of $1,160 earlier today but now hovers around $1,140 per BCH. Bitcoin core (BTC) values reached $7,790 per BTC but subsequently dropped to an average of $7,713 at 7am EDT.

Also Read: Devere Group Adds Bitcoin Cash and EOS to Crypto Exchange App

Cryptocurrency Markets See a Short Term Push Upwards

The question over the past few months is — How long will the cryptocurrency bear run last? A few weeks ago things were trending upwards showing signs of a reversal after digital assets lost considerable value after touching all-time highs. Today cryptocurrency markets are showing some deep consolidation as traders have been shifting positions in hopes of another bull run this year. However ever since BTC touched a high of $19,600 digital currency bears have been storming the markets and shorting them to profit from the downturn.

Bitcoin Cash Market Action

On Sunday, June 3, 2018 bitcoin cash markets are commanding an overall valuation of $19.5Bn and the decentralized currency has gained 10 percent over the past 24-hours. Seven day gains for BCH show the digital asset has jumped upwards 13.9 percent in value. BCH purchasing volume has also increased and rests at $753Mn over the past 24-hours. The top five exchanges swapping the most bitcoin cash today include Okex, Huobi, Bitfinex, Lbank, and Binance. One BCH is roughly 0.1465 BTC and bitcoin core is the most traded pair with BCH today. BTC captures 40.8 percent of BCH trades followed by tether (USDT 28.9%), USD (17.7%), KRW (8.9%), and the EUR (1.3%).

Markets Update: Digital Currency Market Bulls Push Back After Decline

BCH/USD Technical Indicators

Looking at the 4-hour BCH/USD chart on Bitfinex shows bulls are tiring out a touch from this morning’s upward push. Before the spike, the market appeared to form a deep consolidated diagonal formation as Bollinger Bands have been extremely tight. BCH buyers are currently facing resistance and the two Simple Moving Averages (SMA) indicate the path to resistance may be towards the upside. The short-term 100 SMA is above the 200 SMA trendline but not by much. After this morning’s rise, the MACd still shows room for improvement and the Relative Strength Index (RSI) points to (71) overbought conditions. Order books show BCH bulls need to press past $1,185 to find smoother seas while on the backside there are foundations between the current vantage point and $925.

Markets Update: Digital Currency Market Bulls Push Back After Decline

Bitcoin Core Market Action

Bitcoin Core’s (BTC) upwards action is slowing down right now after touching a high of close to $7,800 earlier this morning. The price of BTC is up 0.88 percent over the last 24 hours and 5.2 percent over the last seven days. Trading volume has increased only a little bit since our last markets update as BTC traders this Sunday are swapping $4.95Bn in trade volume. The top exchanges trading the most of this action are Binance, Okex, Bitfinex, Huobi, and BTCC. The Japanese yen today is the forerunning pair traded with BTC capturing 55 percent of trades. Tether (USDT 18.6%) follows the yen, and then the USD (16.3%), KRW (3.3%), and the RUB (2.3%). The Russian Ruble has sort of silently sneaked into the top five currency pairs position with BTC. Furthermore on the peer-to-peer exchange Shapeshift.io the top trade today is ETH for BTC.

Markets Update: Digital Currency Market Bulls Push Back After Decline

BTC/USD Technical Indicators

Looking at the same 4-hour timeline for BTC/USD on Coinbase and Bitstamp show bulls are feeling exhausted after that last push. The cryptocurrency is holding just above the $7,700 region and resistance is piling up across exchange order books. The two SMA trendlines for BTC show similar action as the short term 100 SMA is just above the long-term 200 SMA. With this said we may see some more northbound action if bulls can manage to press through current resistance. MACd is meandering downwards indicating bears are attacking and RSI levels are around 56, showing conditions could go either way after the last spike. Order books are not too bad looking at the upside as bulls need to muster up strength to get past $7,900-8,100 in order to approach far safer and less bearish conditions. Looking down we can see that bears will be stopped at $7,200 and there are considerably sized walls through $6,600 as well.

Markets Update: Digital Currency Market Bulls Push Back After Decline

The Top Digital Assets Today

Cryptocurrency markets in general throughout the top positions are seeing gains today. The second highest market capitalization commanded by ethereum (ETH) has seen a 4.6 percent increase this Sunday. The price of ethereum has gained 7.3 percent this week in total and the price per ETH today is $619. Ripple (XRP) values are up 2.7 percent as one XRP is averaging around $0.66 cents per token. The token EOS which just launched its mainnet is up 5.7 percent this Sunday and 19 percent this week. One EOS is priced at $14.84 per token at the time of publication.

Markets Update: Digital Currency Market Bulls Push Back After Decline

The Verdict: Skepticism Remains

The upswing has added a touch of positivity throughout the cryptocurrency trading environment as markets managed to hold steady at current levels. But many are still skeptical of the current direction and we are most definitely not outside the bear market just yet. Currently, the verdict is traders are skeptical after losing optimism the past three weeks, but some believe the next step is to move upwards as most markets have triple bottomed this year.

Where do you see the price of BCH, BTC, and other coins headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

 

The post Markets Update: Digital Currency Market Bulls Push Back After Decline appeared first on Bitcoin News.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Over the past few days, cryptocurrency markets have been losing steam as many digital assets have lost a good amount of value. Most coins are down anywhere between 3-15 percent over the past 24-hours. Bitcoin Cash (BCH) values have dipped 10 percent over the last day and prices hover around $1,055 today. Bitcoin Core (BTC) prices are under the $8K zone losing 4.1 percent today as BTC values average around $7,909 at the time of publication.

Also Read: Bank in Argentina Launches BTC Settlement Services

Stormy Weather Continues to Dump on Crypto-Markets This Spring

Last spring and more specifically in May of 2017 digital currency markets were on fire but this year is a whole different story. Cryptocurrency markets are not doing so well today as every single coin among the top 50 largest valuations are in the red showing losses. The overall market capitalization of all 1,600+ digital assets is around $345Bn today and 24-hour trade volume hovers around 17.8Bn. Trade volume pales in comparison to two weeks ago when cryptocurrency daily trade volumes where much higher. For instance, BCH 24-hour volumes today are around $722Mn when two weeks ago it was about $2Bn+. The same goes for BTC as its daily volumes used to be around $8-9Bn and now the metric stands at $5Bn during today’s trading sessions.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Bitcoin Cash (BCH) Market Action

Markets Update: Stormy Weather Continues to Plague Cryptocurrency TradersBitcoin Cash values have dipped a good eight percent today, and roughly sixteen percent during the past seven days. The top exchanges today swapping the most BCH include Okex, Hitbtc, Bitfinex, Lbank, and Huobi. The top three currencies on these specific trading platforms traded for BCH includes tether (USDT), BTC, and USD. Today the most traded pairs with BCH is BTC by 39.3 percent, Tether (USDT 24.7%), USD (20.5%), KRW (10.3%), and the EUR (2.3%). Ethereum, the Japanese yen, and Waves are also capturing decent percentages of BCH trade volume on May 23.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

BCH/USD Technical Indicators

Looking at the 4-hour BCH/USD chart on Bitfinex and Bitstamp shows bulls are attempting to regain some upper ground this morning after the dips. As we mentioned during our last markets update the two Simple Moving Averages (SMA) trend lines were about to cross hairs and this happened earlier today. The 100 SMA is now below the longer-term 200 SMA indicating the path to resistance will likely be on the downside. The Relative Strength Index is meandering in the middle showing some consolidation taking place and uncertainty towards the next big move.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

MACd shows similar sentiment as the indicator is hovering around -23 but shows room for improvement. Order books on the upside show BCH bulls need to press past big sell walls between $1,090-1,160. On the backside if bears manage to bring BCH down there is decent support between $950-1,000 at press time but if that resistance breaks things could drop much lower. Presently it looks like bears won’t get prices that low in the short-term, but these ranges are not out of the question.

Bitcoin Core (BTC) Market Action

Markets Update: Stormy Weather Continues to Plague Cryptocurrency TradersBitcoin Core (BTC) prices are below the $8K region after holding above this zone for a couple weeks. Now prices are hovering around $7,927 per BTC and markets are down 4.6 percent during the last seven days. Daily trade volume is weaker than usual as traders are only swapping $5.6Bn worth of BTC during this morning’s trading sessions. The top exchange today trading the most BTC is Binance followed by Bitfinex, Okex, Huobi, and Bitflyer. The Japanese yen is the most dominating pair today with BTC at 55 percent and followed by the USD (19.8%), Tether (USDT 15%), KRW (3.7%), and the EUR (3.2%).

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD chart on Coinbase/GDAX and Bitstamp shows buyers are stepping up their positions this morning. The two SMAs have also crossed paths during the earlier morning BTC trading sessions as well with the short term 100 SMA now below the 200 SMA. This also indicates bears currently have the reigns and they may take the dips further in the coming hours if resistance above $8K cannot be broken. However, RSI levels show oversold conditions and this shows a bounce back may be in the cards today as well.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Looking at order books shows much less resistance on the BTC/USD side in comparison to the BCH/USD side. Bulls only need to muster past the $8-8200 zone to get to higher regions but things become more difficult between $8,500-8,750. On the back side buy orders show solid foundations between $7,400 and $6,900 but after that things don’t look so hot. Overall chart patterns show it’s unlikely prices will get below the $7,400 region anytime soon, and bulls are fighting back with some success at the time of publication.

The Verdict: Stormy Weather and Uncertainty is Slowly Breaking Optimism Down  

Overall most coins are feeling the losses and trying to regain some of the upper hand. Litecoin (LTC) and Ripple (XRP) are two coins who have managed to take less of a beating. Another market oddity today is the BTC/ZEC cryptocurrency fork called Bitcoin Private (BTCP) which is up 13 percent over the past 24-hours.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Top 24-hour trade volume coins today are Tether (USDT), Ethereum (ETH), EOS, Bitcoin Cash (BCH), and Tron (TRX). The losses today throw another black cloud on enthusiasts and traders hoping for long positions to pull through this spring. However, for cryptocurrency traders, it has been nothing but stormy weather with a few brief instances of sunshine here and there. Positivity is lessening and people are definitely more skeptical this week than the past three weeks prior.

Where do you see the price of BCH, BTC, and other cryptocurrencies headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders appeared first on Bitcoin News.

Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips

Digital asset markets are doing some healing during the past 24-hours of trading after touching some lows the day prior. At the moment the entire cryptocurrency market capitalization of all 1,600+ tokens is around $377Bn with around $16Bn worth of 24-hour trade volume. Bitcoin Core (BTC) markets are up 2.3 percent averaging $8,314 per coin while Bitcoin Cash (BCH) prices are up 1.5 percent at around $1,180 per BCH.

Also read: “Stablecoin” Trueusd Pumps After Binance Listing

The Week-Long ‘Consensus Pump’ Never Came to Fruition

The mid-May ‘blockchain week’ Consensus pump never materialized last week even though there was plenty of positive cryptocurrency news. During the course of the week, most digital assets in the top 500 lost a good portion of gains. This weekend is a different story as a bunch of markets are seeing some recovery from the dips. Bitcoin Cash markets are up 2.3 percent averaging roughly $1,188 per BCH at the time of publication. The decentralized currency’s 24-hour trade volume has dropped considerably to $683Mn which doesn’t give traders hope for a bigger weekend push. The top five exchanges swapping the most BCH today include Okex, Huobi, Hitbtc, Lbank, and EXX. BTC pairs with BCH has increased significantly as BTC represents 41 percent of today’s BCH trades. This is followed by tether (USDT 30%), USD (13%), KRW (11%), and the Euro (1.2%).

Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips
BCH/USD prices on May 19, 2018.

BCH/USD Technical Indicators

Looking at the BCH/USD four-hour charts on both Bitstamp and Bitfinex shows bulls need to muster up more strength to break upper resistance. The two Simple Moving Averages (SMA) still have a gap with the 100 SMA above the 200 SMA indicating a good path to the upside. However even though there is a gap it looks as though the two trend lines may cross hairs shortly. RSI oscillator levels point towards an oversold region at 38, and the MACd indicates there will be improvement shortly as well. Looking at the order books towards the upside shows bulls have gigantic sell walls to eat through between the current vantage point and $1,250. On the back side if the BCH bears remain in power there are still some solid foundations between now and $1,130. Traders are looking out for some deeper consolidation before the next breakout as positions currently look like musical chairs at the moment.

Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips
BCH/USD prices on May 19, 2018, Bitfinex $1,880 per BCH.

The Top Digital Currencies See Some Recovery

Overall most cryptocurrencies today are in the green and nurturing the market wounds from the past 72-hours. Bitcoin Core (BTC) prices are doing decent rebounding today at $8,318 per coin but trade volumes are also low at $5Bn. Ethereum (ETH) the second highest valued market cap is doing very well as markets are up 4.3 percent. One ETH is trading at $708 during Saturdays mid-afternoon trading sessions. Ripple (XRP) prices are up 2.1 percent as each XRP trades at $0.68 cents. Lastly, the fifth position held by EOS is doing the best out of the top five contenders as EOS prices are up 5.6 percent — a single EOS today trades for $13.13 per token.

Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips

The Verdict: Bullish Optimism Wanes

Optimism is there among cryptocurrency traders and enthusiasts but people are becoming skeptical of the positivity and those predicting bullish pumps. Of course, while the dips take place traders are finding shelter in Tether, and True USD while they wait out the storm. For now, there’s a whole lot of consolidation happening until traders decide when the next big move happens which could go either way at this vantage point.

Where do you see the price of BCH and other cryptocurrencies headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips appeared first on Bitcoin News.

Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets

Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets

Cryptocurrency markets are losing some gains today, as most digital assets are down between 3-15 percent during this morning’s trading sessions on May 16, 2018. The overall cryptocurrency market cap has shaved a few billion in losses since our last markets update, leading to the valuation of all 1,600 cryptocurrencies hovering around $374Bn today. During the last 24-hours Bitcoin Cash (BCH) value has dropped 10.4 percent and prices are around $1,258 per BCH. Bitcoin Core (BTC) prices have also dipped, but by only 5.6 percent with one BTC priced at $8,234 at the time of publication.

Also read: Circle Raises $110Mn With Plans to Launch USD-Backed Coin

BCH Markets Down 20% This Week

At least three-quarters of the entire cryptocurrency ecosystem has lost value today as many coins are seeing losses this Wednesday. Total 24-hour trade volume for today’s trading session is around $22.6B worth of exchanges. Bitcoin Cash markets have lost a bit of value since yesterday as the network experienced an upgrade which increased its block size to 32MB. BCH trade volume is thinner than the week prior as only $1Bn has been traded during the last day. The top five exchanges swapping the most BCH during today’s trading sessions are Okex, Bitfinex, Huobi, Upbit, and Hitbtc. Both the South Korean won and tether (USDT) BCH trading pairs have seen exponential volumes but BTC still dominates pairs by 34 percent. The BCH/BTC pair is followed by tether (USDT 25.4%), USD (22%), KRW (14%), and the EUR (1.4%).

Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets
BCH/USD market action on May 16, 2018, according to Satoshi Pulse.

BCH/USD Technical Indicators

Looking at the four-hour BCH/USD chart on Bitfinex the price is seeing some deep triangular consolidation at the moment. The MACd is on the rise after the initial dip took place and show more improvement could be in the cards. RSI levels show the oscillator is around 38 right now, showing oversold conditions seem imminent. Looking at the two Simple Moving Averages indicates the path to resistance to the upside still looks obtainable as the short term 100 SMA rides above the longer term 200 SMA trend line. Looking at order books on the upside, BCH bulls need to muster up the strength to break past $1,330-1,355 in order to make headway northbound. On the flipside, if the dips continue there are some solid foundations between the current vantage point and $1,210.

Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets
Bitfinex — BCH/USD May 16, 2018, at 10 am EDT.

A Brief Glimpse at Overall Cryptocurrency Market Action

The entire cryptocurrency ecosystem is seeing pretty decent losses today even though there’s been loads of good news coming from the industry this week. The number one cryptocurrency market cap held by Bitcoin Core (BTC) is wavering just below the $8,400 region with $7Bn in trade volume over the past 24-hours. Ethereum (ETH) markets has seen some dippage as well, as prices have lost 4 percent today. One ETH is hovering just above $700 USD at the time of publication. Ripple (XRP) markets are seeing heavier losses around 6.3 percent as one XRP is $0.69 cents today. Lastly, the fifth highest capitalization has been a contested position for a while now as many coins have been filling this area over the past year. EOS has held the number five spot for a few weeks now but its markets are down 11.7 percent today as one EOS is averaging $12 per coin.

Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets
The top ten cryptocurrencies today according to Satoshi Pulse.

The Verdict: Mid-May Market Action is Lackluster but Positivity Remains

So far, the mid-May bull run lots of enthusiasts were hoping for has been nothing but a fizzle this week. Many believed cryptocurrencies would begin to see larger gains after the Consensus conference in New York started but that forecast never came to fruition, at least not yet. The only coins that are doing well today are a few miscellaneous tokens and stablecoins like tether (USD, and TrueUSD showing traders are likely using these ‘stable’ currencies as shelter from the current storm). Optimism and positivity among traders on social media and trader groups on Telegram still seems bright, even though markets have shaved some decent gains over the past 72-hours.

Where do you see the price of BCH and other cryptocurrencies headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets appeared first on Bitcoin News.

Markets Update: Cryptocurrency Prices See Relief After Three Day Losses

Markets Update: Cryptocurrency Prices See Relief After Three Day Losses

Cryptocurrency prices have dropped significantly over the past 72 hours after reaching new highs on May 5. When Bitcoin Core (BTC) prices touched a high of $9,940 USD this past Saturday buyers met resistance and the price tumbled to a low of $8,975. BTC prices today are hovering along between $9,100 and $9,400. Bitcoin Cash (BCH) market values touched a high of $1,829 on May 5, but have subsequently dropped to an average of $1,625 during today’s trading sessions. Overall most cryptocurrency markets are seeing some gains today after suffering from three days of losses.

Also read: Court Orders Chilean Banks to Re-Open Crypto Exchange Accounts 

Bitcoin Cash Markets See 4% Gains Today

Cryptocurrencies have lost value over the past 72 hours but are starting to rebound at the time of publication. Currently out of the 1,595 different digital assets, the entire cryptocurrency market cap is around $437Bn today with $22Bn in 24-hour trade volumes. Bitcoin Cash markets today are up over 4 percent and have seen 14.3 percent worth of gains over the past seven days. BCH trade volume during the May 9 trading sessions is around $1.2Bn over the past 24 hours. The top five exchanges swapping the most BCH today are Okex, Upbit, Bithumb, Bitfinex, and Huobi. In terms of price compared to Bitcoin Core values, BCH is worth Ƀ0.1770 at the time of writing and has been slowly approaching the Ƀ0.2 region. BTC captures 35 percent of today’s BCH trades and this is followed by tether (USDT 22.8%), KRW (20%), the USD (17%) and the euro (1.3%).

Markets Update: Cryptocurrency Prices See Relief After Three Day Losses
Bitcoin Cash (BCH) May 9, 2018.

Technical Indicators

Looking at charts shows BCH bulls are trying hard to push past resistance at the moment. The 4-hour chart reveals the two SMA trendlines still have a decent gap between the 100 SMA and the 200 SMA. The short-term 100 SMA is well above the 200 SMA indicating the path to resistance should be on the upside. MACd is dipping southbound at the moment while the Relative Strength Index oscillator is holding around 55 indicating some consolidation forming.

Markets Update: Cryptocurrency Prices See Relief After Three Day Losses
Bitfinex BCH/USD markets on May 9, 2018.

Bollinger Bands are extremely tight during the day’s trading sessions as a breakout could be imminent. Looking at order books shows that bulls have some thick resistance ahead up until $1,700, and then another large mountain of sell orders between $1,750-1,850. If things turn for the worse then foundations can be found on the backside between now and $1,550. A break below $1,550 will lead to another solid pitstop around $1,460. At the moment it doesn’t look like bears will take the reins anytime soon.

The Top Cryptocurrencies Today

Overall cryptocurrency markets are doing pretty well today. Looking at the number one market valuation shows Bitcoin Core (BTC) markets are up 1.4 percent and 1.99 percent over the course of the last week. Currently, one BTC is trading for $9,343 and has a 24-hour trade volume of about $7.2Bn. Ethereum (ETH) is the second largest market cap and its currency is averaging around $754 per ETH. Ripple (XRP) is down today around 0.53 percent and 5.2 percent over the past seven days. One XRP is trading at $0.80 cents per coin. Lastly, the number five position below BCH is the digital asset EOS which is down 1.9 percent today and is priced at $17.91 per token.

Markets Update: Cryptocurrency Prices See Relief After Three Day Losses
Cryptocurrency market caps via Satoshi Pulse on May 9, 2018.

The Verdict: Market Sentiment Remains Optimistic

Over the past week, most cryptocurrencies have seen some negative decline but a lot of traders are positive this month will be a turning point.

Markets Update: Cryptocurrency Prices See Relief After Three Day Losses
Data from the past three years just before the Consensus conference and this year’s charts make Tom Lee think that BTC will rally by 70% next week.

Nearly every year for the past four years just before the Consensus conference in New York BTC prices and other cryptocurrency values have rallied significantly. Fundstrat advisor Tom Lee thinks the same thing may happen during the event in mid-May stating that BTC and other digital assets could rally more than 70 percent soon. Even after three days worth of dips, market sentiment is still optimistic.

Where do you see the price of BCH and other cryptocurrencies headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Cryptocurrency Prices See Relief After Three Day Losses appeared first on Bitcoin News.

Markets Update: BCH Prices See Uncorrelated Movement Gain 13%

Markets Update: BCH Prices See Uncorrelated Movement Gain 13%

Cryptocurrency markets are seeing some gains today as most digital assets are up over the past 24-hours between 3-15 percent. Bitcoin Cash (BCH) values spiked considerably during the day’s trading sessions on May 5 touching a high of $1,740 per BCH. At the time of publication, the price of BCH is hovering around $1,720 per coin, adding another $500Mn in 24-hour trade volume.

Also read: Court Orders Chilean Banks to Re-Open Crypto Exchange Accounts 

Bitcoin Cash Markets See Action as BCH Values Spike Considerably During the Weekend Trading Sessions

Bitcoin Cash markets have been surging on Saturday, May 5 as the decentralized cryptocurrency surpassed the $1,700 range during the days earlier morning trading sessions. Overall most digital assets markets are up in general, as at least 2/3rds of the top 500 cryptocurrencies are all seeing gains. BCH, in particular, has made a notable rise jumping over 13 percent over the past 24-hours. After a few weeks of BCH averaging over 0.1 BTC per BCH, the cryptocurrency is slowly approaching 0.2 BTC per coin showing some distinct non-correlated market activity lately. At the moment the top five exchanges swapping the most BCH today include Upbit, Huobi, Okex, Bitfinex, and Bithumb. Over the past few days on South Korean exchanges, BCH spot prices have been consistently $20-80 higher on trading platforms like Upbit and Bithumb.

Markets Update: BCH Prices See Uncorrelated Movement Gain 13%

The top currency swapped for bitcoin cash today is Bitcoin Core (BTC), capturing 36.9 percent of all BCH trades. Following the BTC pair volume, is tether (USDT 24.6%), USD (16.8%), KRW (16.8%), and the EUR (1.4%). Two other notable currencies paired with BCH that have increased in trade volumes over the past day are ethereum (ETH 1%), and the Japanese yen (1%). The Korean won paired with BCH has also seen double the volumes since our last markets update. Further, over $3Bn has been added to the BCH market capitalization since our last report as well, as the total BCH valuation in circulation rests at $28.8Bn at the time of publication.

Technical Indicators

Looking at the charts shows BCH bulls are struggling to break resistance around the $1,750 mark at the moment. The 4-hour chart shows the two Simple Moving Averages (SMA) have a nice gap in between with the 100 SMA well above the longer term 200 SMA trendline. This indicates after eating through some sell orders the path to resistance should be on the upside. RSI levels are 71 right now, showing markets are a touch overbought at the moment and some slight downtrend and consolidation taking place at this vantage point is to be expected.

Markets Update: BCH Prices See Uncorrelated Movement Gain 13%

The MACd, however, is heading northbound and it shows there’s more room for improvement over the next few hours. On the upside looking at order books shows bulls will need to muster enough strength to surpass thick resistance up until the $1,775 price range. On the flip side if bears take the reigns then there are some strong foundations between $1,625 down to the $1,500 zone before buys start to thin out.

The Verdict: Optimistic — Market Action Will Likely Continue to Emulate from Consistent BCH Progress

BCH advocates have been happy about the price but most are more concerned about development, spreading adoption, and preparing for the upcoming 32 MB upgrade that’s now ten days away. There’s been a bunch of development with things like Memo, Joystream, Blockpress, Cointext, Cash Shuffle, and many more projects on the horizon. The price to most BCH supporters is rather unimportant and its considered merely a reflection of all the effort that’s been put into the growing BCH ecosystem since the project’s inception.

Where do you see the price of BCH headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


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Markets Update: Trading Action Heats Up During the First Week of May

Markets Update: Trading Action Heats Up During the First Week of May

Cryptocurrency markets are seeing some action today as digital asset values have been fluctuating over the past 72 hours. During yesterday’s trading sessions a lot of digital currencies dropped anywhere between 2-6 percent but many are erasing some of those losses today. On April 28, BTC/USD markets touched a high of $9,538 but dipped below the sub-$9,000 regions on May 1. Bitcoin Cash (BCH) markets touched a high of close to $1,500 on the 28th as well but dropped to $1,320. Today, however, BCH has managed to capture most of those gains back as it hovers around $1,430 at the time of publication.

Also read: Court Orders Chilean Banks to Re-Open Crypto Exchange Accounts 

Markets See Slight Recovery After Yesterday’s Dips

May is here and many digital currency enthusiasts believe the ‘Crypto Spring’ is about to bloom after the long and hard Crypto Winter. Right now a good majority of cryptocurrency assets are in the green during today’s trading sessions as most of them saw some losses yesterday. The entire cryptocurrency market capitalization of all 1,600 coins is around $429 billion USD today. BTC/USD markets are currently averaging around $9,060 per coin and trade volume is lighter this week as it hovers around $6.8Bn over the past 24 hours. The top five exchanges today swapping the most BTC are Binance, Okex, Bitfinex, Upbit, and Huobi. The Japanese yen still dominates BTC trades by 39 percent but is much lower than last week’s percentages. This is followed by the USD (29.7%), tether (USDT 22.3%), the Korean won (7.4%), and the euro (3.9%). The top trade today on the peer-to-peer platform Shapeshift is ethereum (ETH) for bitcoin core (BTC).

Markets Update: Trading Action Heats Up During the First Week of May

BTC/USD Technical Indicators

The daily, weekly and 4-hour BTC/USD charts show some consolidation taking place once again as traders are seeking new positions. At the time of publication, the two Simple Moving Averages (100 & 200 SMA) have a decent gap with the short term 100 SMA above the long-term trendline. This indicates today’s trading action and the path to resistance should be on the upside. MACd is meandering around 23.43 showing it has a lot of room for improvement. Both the Relative Strength Index (RSI) and Stochastic oscillators are following the same pattern as the RSI hovers around 46.9. These signs indicate that bulls could manage to muster up strength but BTC/USD trade volumes today are quite flat. Order books show that bulls need to push past tough resistance at $9,250 through $9,600 to gain some better ground ahead. On the backside, if bears grab the reins again there’s some good foundational support around $8,800 to $8,500 for the time being.

At the time of publication on May 2, 2018, the BTC/USD price is $9,089 per BTC.

Bitcoin Cash Markets Jump Over 10%

At the moment Bitcoin Cash markets have seen a considerable spike during today’s trading sessions. Over the past 24 hours, BCH/USD markets are up over 10 percent, while BCH weighted price averages are hovering around $1,430 right now. BCH 24-hour trade volume is decent hovering around $1Bn USD worth of daily trades. The total valuation of the BCH market cap at the moment is over $24Bn and most of the trades today are in BTC. Bitcoin core trades account for 40 percent of today’s BCH trades which is followed by the USD at 19 percent. BCH global trades are also seeing heavy volume from tether (USDT 19%), the Korean won (14.8%), and the euro (1.6%). Both binance coin (BNB), and ethereum (ETH) are also top trades with BCH on May 2.

BCH/USD Technical Indicators

Looking at BCH/USD charts on Bitfinex and Bitstamp shows there are some differences between BTC/USD markets. The 4-hour BCH/USD chart indicates some overbought signals as the two SMAs are completely different for BCH. The short-term 100 SMA is well below the longer term 200 indicating the path to resistance will likely be on the downside. MACd is still riding northbound and RSI levels are around 66 showing market bulls are awfully close to showing exhaustion. On the flipside, resistance isn’t too tough approaching the $1,540 range and if bulls can manage to make it to that price area then they will see one more nice pitstop around $1,640. We can see on the backside that some nice consolidation has taken place as order books show good support around $1,395, but after that, it is a lot thinner. Most markets are down 0.5 to 1 percent today and BCH/USD prices will likely follow along, but the market has been seeing its own strong movements these past few weeks.

At the time of publication on May 2, 2018, the BCH/USD price is $1,433 per BCH.

The Verdict: Crypto-Market Optimism Still Trumps Skepticism But Uncertainty Still Remains

Overall cryptocurrency market participants seem positive today as more consolidation forms across the digital asset economy. Some notable market movers on May 2nd include EOS which is up 7.6 percent and the Cardano platform’s ADA seeing gains of around 6.6 percent. Further, the cryptocurrency Tron (TRX) has silently moved into the top ten cryptocurrency market caps. Optimism is still on high as traders and enthusiasts believe markets will manage to only get better but there’s still some skepticism after the last four months of downward price trends.

Markets Update: Trading Action Heats Up During the First Week of May
The top ten market valuations according to Satoshi Pulse.

Where do you see the price of BCH and BTC headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Trading Action Heats Up During the First Week of May appeared first on Bitcoin News.

Meet Bitcoin.com’s Cryptocurrency Market Cap Aggregator — Satoshi Pulse

Meet Bitcoin.com’s Cryptocurrency Market Cap Aggregator — Satoshi Pulse

This week the website Bitcoin.com, the go-to web portal for all things Bitcoin, has launched ‘Satoshi Pulse’ a cryptocurrency market capitalization page that shows total digital asset market valuations, current prices, hourly – daily – weekly percentages, charts and more. Just like the rest of the informative resources and tools hosted on our website, with Satoshi Pulse, cryptocurrency enthusiasts can get their favorite digital currency’s data in real-time in one easy to find place.

Also read: Steps towards Self-Regulation in Croatia and Slovenia

Satoshi Pulse: 500 Digital Currency Market Caps

The cryptocurrency economy has grown exponentially over the past year and a half, and digital asset proponents are very fond of checking price tickers regularly. Further, some enthusiasts like to view the entire cryptocurrency ecosystem that has more than 1,500 different cryptocurrencies in order to see the value of the asset, and its market performance. There are a few market capitalization sites out there that aggregate data across the digital currency economy, but lots of them can be confusing and filled with unfavorable advertisements. Instead of 1,500 digital currencies, Bitcoin.com’s Satoshi Pulse evaluates only the top 500 cryptocurrencies making navigation a bit easier.

Meet Bitcoin.com’s Cryptocurrency Market Cap Aggregator — Satoshi Pulse

The Satoshi Pulse User Interface

Satoshi Pulse shows cryptocurrency statistics for top currencies such as Bitcoin Core (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and more. Users can choose a set of favorites to watch, and filter just the coins they appreciate, rather than a whole list of coins they don’t care about. In order to add a bunch of favorites simply choose the heart symbol next to each coin then press filter and your own customized list of digital assets will appear. Additionally, Satoshi Pulse aggregates digital currency price increases or losses throughout hourly, daily, and weekly time frames.

When a user directly clicks a specific cryptocurrency it will direct them to a page that shows the digital asset’s price chart which can be toggled to show daily, weekly, one month, six months, and a year’s worth of price plots. The page will also show the cryptocurrency’s statistics such as capitalization rank, the current spot price, market capitalization, and 24-hour trade volume. Moreover, Satoshi Pulse features data like the coin’s consensus algorithm, the current number of coins in circulation, and the cryptocurrency’s maximum supply.

Meet Bitcoin.com’s Cryptocurrency Market Cap Aggregator — Satoshi Pulse

Bringing Our Users Continued Improvements to This Already Robust Platform

The first angel investor in Bitcoin technology and the CEO of Bitcoin.com, Roger Ver, is thrilled to add Satoshi Pulse to the wide range of services and resources offered by our web portal. Ver stated during the webpage launch:    

Satoshi Pulse offers a beautiful, interactive way to visualize the cryptocurrency marketplace. The service offers real-time as well as historical stats for the top cryptocurrencies — We look forward to bringing our users continued improvements to this already robust platform.

Bitcoin.com continues to grow, and our site has many more cool features coming this year. Already the Bitcoin-focused web portal has an uncensored forum, games, a newsdesk, a Wiki, block explorer, a robust wallet for every operating system, podcasts, widgets, merchants solutions, educational resources and so much more. Alongside this, the Satoshi Pulse development team says there will be a slew of new additions on the way.  Bitcoin.com looks forward to offering top of the line resources to billions of people across the planet, and we hope cryptocurrency enthusiasts enjoy the new Satoshi Pulse service as much as we do.

What do you think about Satoshi Pulse? Let us know your thoughts about the market cap web page in the comments below.


Images via Shutterstock, and Satoshi Pulse.   


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Bitcoin Futures Markets See a Big Uptick in Trade Volume

Bitcoin Futures Markets See a Big Uptick in Trade Volume

Bitcoin prices and cryptocurrency spot markets, in general, have been recovering after the downturn that took place from mid-December 2017 up until three weeks ago. At the time, when BTC derivatives products were introduced to the public, futures contracts got off to a slow start. Now bitcoin-based futures markets from the Chicago Board Options Exchange (Cboe) and the Chicago Mercantile Exchange (CME) have seen a significant uptick in product sales for the trading sessions during the month of April and May.

Also read: Bitcoin Markets Steady for Another Gox Dump, 16,000 Coins Moved by Trustee

Bitcoin Futures Products from CME and Cboe Start Seeing Significant Trade Volume

In March, news.Bitcoin.com reported on bitcoin-based derivatives products from CME and Cboe starting to pick up in volume. CME contracts at the time had around 1,000 contracts per day and zero sold for the month of May as it stood. However, that month Cboe saw a great influx of volume as March expiries closed above 10,000 contracts and May products were starting to sell steadily. Fast forward to this week as cryptocurrency spot markets start seeing some signs of recovery, bitcoin futures products are selling like hotcakes.

Bitcoin Futures Markets See a Big Uptick in Trade Volume

Last Wednesday’s Futures Volumes Were Nearly Three Times the Average Daily Volume

This past Wednesday Cboe’s bitcoin futures (XBT) spiked in volume as more than 18,000 contracts were traded for May. Furthermore, public data shows June and July Cboe XBT products have starting selling as well but there are zero sold for the month of August.

Bitcoin Futures Markets See a Big Uptick in Trade Volume

The next three months of predictions show price stability as contracts hover around the $8,900-9,100 region per XBT. Right now daily May volumes are around 3,700 contracts and 24-hour statistics have been between 3,000-6,000 products a day. Last week’s 18,000+ record beat Cboe’s first milestone of 15,000+ contracts when the futures markets first launched but slowed down considerably since then.

“[The] average daily volume (ADV) runs about 6,600 in XBT Bitcoin Futures. Yesterday’s volume was nearly three times ADV,” Kevin Davitt Cboe Options Institute senior instructor explained this Thursday.

Yesterday was the highest daily volume for bitcoin futures since their introduction here at CBOE nearly five months ago. The lead month May futures traded 18,210 contracts, and across the term structure, a total of 19,000 bitcoin futures traded here yesterday. The previous high-volume session was January 17 with just less than 15,500 contracts traded.     

Bitcoin Futures Markets See a Big Uptick in Trade Volume

Last Week’s Volumes Were Different to January’s Bitcoin Futures Volumes

The same day CME Group saw a similar uptick in bitcoin futures volumes for its April 2018 contracts. Wednesday saw 11,000+ contracts on CME’s bitcoin markets according to public data. Cboe’s Davitt says that January’s volume coincided with the first set of contracts but this past Wednesday’s volumes did not, the Cboe senior instructor explained. Nor did it have a 15-20 percent range in futures he would otherwise have expected, he added.    

What do you think about Cboe and CME’s bitcoin futures markets seeing considerable contract volume this past week? Let us know in the comments below.


Images via Pixabay, CME Group, Cboe, and CNBC charts. 


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Researchers Chart BTC holding Periods Called ‘Hodl Waves’

Researchers Chart BTC holding Periods Called 'Hodl Waves'

This week Dhruv Bansal the co-founder of Unchained Capital, a cryptocurrency based financial services lending firm released a research study called ‘Bitcoin Data Science: Hodl Waves’ part one. Bansal and his team analyzed the BTC network’s ledger of Unspent Transaction Outputs (UTXO) over a few years and discovered how when BTC lost a large share of value transactions occurred less because of new investors and distinct holding periods materializing. 

Also Read: Indian Exchange Takes Central Bank to Court Over Bank Ban

Unchained Capital’s ‘Hodl Wave’ Research

The cash to crypto lending service Unchained Capital had analyzed the Bitcoin core (BTC) blockchain and the network’s UTXOs a few years ago and decided to publish the firm’s data. Blockchains use a ledger mechanism called Unspent Transaction Outputs or UTXOs and this data is timestamped. This means blockchain researchers can figure out when UTXOs were last used in a transaction which has given the company a rich set of data throughout the years.

Unchained Capital created a colored coded chart which calculates waves of age distribution within the digital currency’s UTXOs and their age distribution set back to the genesis block in 2009.

“This chart is fascinating because it displays the macroscopic shifts that have occurred in bitcoin’s ownership through history. Spikes in the bottom, warmer-colored age bands (<1 day, 1 day — 1 week, 1 week — 1 month) indicate large amounts of bitcoin suddenly transacting,” explains Unchained Capital’s research. “The steady growth of the top, color-colored age bands (2–3 years, 3–5 years, >5 years) shows bitcoin that’s not being transacted with, idling between rallies — The interaction between these two patterns illustrates the behavior of bitcoin’s investors during market cycles.”

It is not possible to make charts such as the one above for traditional asset classes. It’s only bitcoin and other public blockchains that meticulously track these data throughout their whole histories. This enables post-hoc analyses of large-scale market behavior.

Researchers Chart BTC holding Periods Called 'Hodl Waves'
This image from Unchained Capital’s research shows UTXO age distribution with price peaks labeled. The white lines are ‘Hodl Waves’ which starts a new aging period.

Essentially, Bansal and his team found a pattern after every rally that they call the ‘Hodl Waves.’ Unchained Capital says basically the wave is created when a large amount of BTC transacts towards market price spikes, and then the UTXOs age with new owners. The firm’s chart shows a visual depiction of waves forming distinct patterns of curves. “[The] pattern of nested curves caused by each age band becoming suddenly much fatter (taller) at progressively later times from the rally,” Bansal states.

The Genesis Wave to the Largest Wave in Blockchain History

The first wave began during the Genesis period between January 2009 through June 2011, when the price was 0-$33 USD per coin. Unchained Capital says this wave was not caused by a price rally, but because BTC had no significant value at the time. Early adopters and Satoshi held on to their coins, because they were not worth much for a good period of time.

Researchers Chart BTC holding Periods Called 'Hodl Waves'
The Genesis wave is the shortest wave in history.

The next wave began between June 2011 ($33) to the December rally of 2013 ($1K).

“Right after the rally to $1k, more than 60% of BTC had been spent within the last 12 months. This was the most “recent” moment for BTC’s money supply in history — the moment at which the average last time of use of a Bitcoin was lowest,” explains the study. “Who sold? Once more, it was the investors who purchased in the prior 2–3 years, through the $33 peak and the $198 peak.”

Researchers Chart BTC holding Periods Called 'Hodl Waves'
Unchained Capital calls this wave the ‘Great Hodl’ of 2014.

The largest ‘Hodl Wave’ was between the 2013 rally at $1K, all the way to December of 2017 spike past $19K. Last year when BTC jumped to $1K per coin, close to 60 percent of BTC was older than twelve months. One year later during the $19K top, only 40 percent of BTC was older than a year. “During 2017, 20% of bitcoin in existence was transacted with for the first time in years,” explains the company. The researchers believe the three main reasons for this effect was due to the Bitcoin Cash hard fork and Segregated Witness soft fork, initial coin offerings (ICOs), and capturing gains.  

At the moment after the big spike and following ‘Crypto Winter’ a new wave is forming which shows BTC fractions older than 12 months have dropped to 40 percent.

“After every great rally, there’s been a great Hodl. As the data shows us, there is already the development of another generation of holders settling in for the long haul,” Bansal concludes.  

Beginning in January 2018, the category of bitcoin that are 6–12 months old rebounded from a low of 7.76% to 14.63%, a doubling of its population.

Bansal and the research teams’ study has an interactive chart which shows a far more in-depth look at these waves. The Unchained Capital’s research paper can be found in its entirety here.  

What do you think about the ‘Hodl Wave’ research done by Unchained Capital? Do you find statistics like these interesting? Let us know your thoughts in the comments below.


Pictures via Shutterstock, and Unchained Capital’s research study images.  


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Bitcoin Cash Gains Advance 4% Above BTC

Markets Update: Bitcoin Cash Gains Advance 4% Above BTC

On Wednesday, April 18, cryptocurrency markets have been bouncing all around over the past twelve hours as a few coins have seen some higher gains than most. Three-day charts show bitcoin core markets took a slight dip after touching a high of $8,425 USD on April 15, as spot prices are up 2 percent today and the fiat value per BTC currently rests between $7,900-8,100. Bitcoin cash markets are on a tear and have seen a significant upswing in market action during the day’s trading sessions. The value of bitcoin cash is up 6.8 percent at a price of $825 per BCH.

Also Read: Significant Trade Volume Triggers Localbitcoins KYC Requirement

Cryptocurrency Market Volumes Remain Healthy

Markets Update: Bitcoin Cash Gains Advance 4% Above BTC Digital currency markets are seeing some action today, after a majority of coins took a slight tumble yesterday during the early evening trading sessions (EDT). At the time of publication BTC’s market value is hovering between $7,900-8,100 with a decent amount of trade volume over the past 24-hours. Daily global trade volume for BTC shows an accumulation of $7Bn worth of trades. The top five trading platforms swapping the most BTC volume today include Binance, Upbit, Bittrex, Okex, and Bitfinex. With over 1,500 digital currency markets in existence and an overall cryptocurrency market valuation of $335Bn bitcoin core dominance has slipped today down to 41 percent. The Japanese yen is again dominating the global trade volume on April 18 as the currency covers over 57 percent of the BTC trades. This metric is followed by the USD (18.8%), tether (USDT 13.8%), the South Korean won (3.3%), and the euro (3%).

BTC/USD Technical Indicators

Looking at the weekly, 30-minute and 4-hour BTC/USD charts show bulls are trying to press past resistance at the $8,100-8,400 territory which is quite thick. The two Simple Moving Averages (SMA) both long-term (200 SMA) and the short-term (100 SMA) have a decent gap between them with the 200 SMA above. This indicates the path to resistance will look to the downside as bulls are showing some exhaustion. However, the 4-hour chart shows the trend lines are looking to meet again in the short term. MACd is heading southbound while the Relative Strength Index (RSI) is meandering between 50-60 showing some consolidation is taking place.

Markets Update: Bitcoin Cash Gains Advance 4% Above BTC
BTC/USD Bitstamp 4-18-18

Order books show on the upside bulls have to muster through some thick sell orders between $8,200 and $8,600 after that could be some smoother sailing. BTC/USD charts have shown a bullish reversal above the downward trend line and these attempts at resistance will likely take place today. If bears manage to claw prices down then there is some key support between $7,800-$7,700. If the Displaced Moving Average (DMA) breaks below these foundations, prices will likely find a way to the $7,500-7,250 territories.

Markets Update: Bitcoin Cash Gains Advance 4% Above BTC
BTC/USD Coinbase 4-18-18

BCH Markets See Some Uncorrelated Activity Spiking 4.8 Percent Higher Than BTC

Markets Update: Bitcoin Cash Gains Advance 4% Above BTCBitcoin cash markets are showing a decent rebound during today’s trading sessions as BCH prices are up 6.8 percent. Daily global trade volume has jumped to $472Mn over the past 24-hours as BCH takes the seventh position in global volume out of all 1500+ cryptocurrencies. The top five exchanges trading the most bitcoin cash today include Hitbtc, Huobi, Okex, Lbank, and Binance. BTC is the most traded cryptocurrency with BCH today as BTC for BCH trades account for 52 percent of the global market. Following BTC the ‘stablecoin’ tether (USDT) captures 20 percent, the USD (16.2%), the South Korean won (6.7%), and Binance coin (BNB 1.5%).

BCH/USD Technical Indicators

Bitcoin cash 4-hour charts show the same SMA gap between the short and long-term trend lines. Again this indicates that the resistance will be tough for BCH bulls to tackle at the current vantage point. 4-hour Ichimoku shows BCH/USD levels are a touch oversold while RSI oscillators are hovering around the same regions as BTC. Bitcoin cash volumes showed some strong momentum this morning which escalated it 4 percent higher than a majority of cryptocurrency markets. MACd is also heading downwards as some sell-off is ensuing at this current price range but still holding steady.

Markets Update: Bitcoin Cash Gains Advance 4% Above BTC
BCH/USD Bitstamp 4-18-18 

Order books show bulls have to break past resistance at $840-880 to see some better movement towards the upside. There will be another pitstop around the $900 territory and if bulls can manage to muster strength past this region $1,000-1,100 is attainable. On the back side for support, there are foundations between now and $820 per BCH and then another stop around the $750 area. If the Displaced Moving Average (DMA) dips under $720 sub-$700 prices will likely come to fruition.

Markets Update: Bitcoin Cash Gains Advance 4% Above BTC
BCH/USD Bitfinex 4-18-18 

The Verdict: Traders Are Confident Spring Will Bring More Bullish Action

Overall cryptocurrencies, in general, are seeing some gains during today’s trading sessions. Ripple (XRP) and stellar (XLM) are showing some notable rises today between 2-6 percent and the privacy-centric coin monero (XMR) has spiked 12 percent. Verge (XVG) pumped pretty hard after the Pornhub integration announcement but the cryptocurrency dumped immediately after as XVG is down 25 percent. Digital asset enthusiasts seem confident a ‘true reversal’ is heading our way this spring as bulls are showing renewed energy after the ‘crypto winter’ comes to an end.

Where do you see the price of BCH and BTC heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Bitstamp, and Trading View.


Want to create your own secure cold storage paper wallet? Check our tools section.

 

The post Bitcoin Cash Gains Advance 4% Above BTC appeared first on Bitcoin News.

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour

The price of bitcoin and a wide range of other digital assets have seen some significant gains today. Earlier during the morning trading sessions (EDT) BTC/USD markets spiked over $1,000 in less than 60 minutes gaining 10 percent and reaching a high of $8,060 per coin. Following the phenomenal jump in value, buyers met some resistance and BTC’s value has dipped back some and is currently averaging a touch above $7,600.

Also read: Huobi’s Sentiment Index Shows Cryptocurrency Investors Still Bullish

BTC Markets See Gains of 10 Percent

Cryptocurrency markets are on a tear today as most digital assets jumped in value from 10-20 percent during the morning trading sessions on April 12. BTC trade volumes have spiked considerably worldwide as our last Markets Update six days ago reports a daily volume of $4Bn USD. That metric has doubled today as BTC trade volumes worldwide now rests at $8.1Bn over the past 24 hours. The top five exchanges swapping the most BTC today are Bitfinex, Okex, Binance, Upbit, and Huobi. Bitfinex has over $664Mn in 24-hour volume and USD trades have spiked significantly today. Last week the Japanese yen accounted for well over 60 percent of the BTC global trade volume but that metric has dropped to 45.4 percent. The USD is now up to 28.7 percent as the fiat currency has gained some steam this week. This is followed by tether (USDT 13.7%), the euro (4.3%), and the South Korean won (4.1%).

Markets Update: BTC Prices Jump Over $1000 in Less Than an Hour

Technical Indicators

Looking at the 30-minute and 4-hour price charts on the exchange Bitstamp shows bulls are currently trying to push past resistance right now at the $7,600 range. After a few weeks of the long-term Simple Moving Average (200 SMA) being well above the short-term 100 SMA, the two have crossed hairs again. At the time of writing, the 100 SMA is above the 200 SMA indicating the path to resistance should be on the upside.  

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour
At 12:30 PM EDT on Bitstamp the price of BTC is hovering just above $7,600.

After dipping southbound over the last two hours the MACd is showing an upward trend as buyers eat through current sell orders. However, the Relative Strength Index (RSI) and Stochastic oscillators are well above the 80 range showing BTC/USD markets are overbought. Order books on the upside show some resistance at the current vantage point ($7,600) and another pitstop at $8,150. On the backside, if this run-up turns out to be another fake out bull trap then there are strong foundations between $7,500 through $7,100.  

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour
BTC trade volumes have doubled since last week.

The Top Digital Assets

Overall cryptocurrency markets, in general, are up well over 10-20 percent and the top 100 digital currencies are all in the green. The second highest market valuation commanded by ethereum (ETH) is up 10.1 percent as one ETH is averaging $463 per coin. Ripple (XRP) has seen gains today around 12.1 percent and each XRP is $0.55 cents. The fourth highest market capitalization is held by bitcoin cash and its markets are up 8 percent. One BCH today is trading just above $700 per coin during the afternoon trading sessions. A newcomer has joined the top five cryptocurrency market valuations as EOS has pushed litecoin (LTC) out of the fifth position. EOS was up over 40 percent yesterday and is still up 22 percent at the time of publication.

Markets Update: BTC Price Jumps Over $1000 in Less Than an Hour

The Verdict: Uncertainty Remains After the Last Few Bull Traps Faked Everyone Out

Its safe to say a lot of cryptocurrency holders are pleased with the spikes in value this morning. Some traders not so much, as short contracts on Bitfinex and Bitmex had stacked up like a mountain over the past week and this morning most of them were liquidated. The jump in value still doesn’t show concrete evidence we will see a bullish reversal, but the increase does give some people a little hope. There have been bull traps and ‘dead cat bounces’ over the past few weeks so a quick and sudden rally is not surprising, but the question remains — How long will it last?

Where do you see the price of BTC and other digital assets heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Bitstamp, Trading View, and Coinmarketcap.


Want to create your own secure cold storage paper wallet? Check our tools section.

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Markets Update: Trader Sentiment Optimistic But Signals Still Unclear

Markets Update: Trader Sentiment Optimistic But Signals Still Unclear

Cryptocurrency markets are bouncing around in value over the course of the weekend as the entire crypto-market capitalization currently rests at $329 billion USD. BTC/USD markets briefly jumped above the $9K region on Sunday, March 25 but dropped an hour later to a low of $8,398. Most of the digital currencies within the crypto-economy have followed suit with BTC as most coins have lost 3-5 percent in value during the late night (EDT) trading sessions.

Also read: Slush Pool Mines the First ASIC Boost Block Sparking More Debate  

Crypto Markets Hold Steady As Traders Wait for the Next Big Move

Markets Update: Trader Sentiment Optimistic But Signals Still UnclearThe past few days most cryptocurrencies have been somewhat stable as they have been following the same triangular sideways pattern as BTC/USD markets. At the time of publication BTC’s price is hovering above the $8,540 range as global markets are swapping roughly $5.4Bn worth of trades over the past 24-hours. The top five exchanges trading the most BTC includes Bitfinex, Binance, Okex, Bitflyer, and Upbit.

One of the most traded cryptocurrencies traded with BTC right now is Tron on the Binance exchange. According to Shapeshift, the top trade today on the peer-to-peer platform is ETH for BTC. At the moment Japan is leading the global trades for BTC markets as the yen is capturing over 57 percent of trade volume. This is followed by the USD (20.8%), tether (USDT 13.6%), the South Korean won (3%), and the euro (2.4%).

Technical Indicators

Looking at the 4-hour, daily, and weekly BTC/USD charts show some bearish divergence taking place during the Saturday evening trading sessions. The two Simple Moving Averages (100-200 SMA) have crossed hairs just a few hours ago as the long-term 200 SMA is now above the short term 100 SMA. This indicates bears have taken control for now as BTC/USD markets lost $500 in value today. However, a reversal pattern took place during yesterday’s trading sessions showing a long bullish engulfing candle. This indicates the current bearish divergence may not last long.

Markets Update: Trader Sentiment Optimistic But Signals Still Unclear

MACd is currently heading southbound following suit with both RSI and Stochastic oscillators. Another indication that bears have taken control for the moment after resistance above $9K could not be broken. Order books show that there’s some solid resistance around the $9K territory but even more so around $9,250. From there if bulls manage to muster up some strength after the last dip resistance is less after the $9,550 area. On the back side, if bears manage to keep dragging the price down with shorts then there are some solid foundations between the current price to $7,900. If the Displaced Moving Average ($7,245) breaks then BTC/USD prices could sink back to much lower levels. However, it doesn’t look like bears can bring the price down that low from the current vantage point.

Markets Update: Trader Sentiment Optimistic But Signals Still Unclear

Digital Asset Markets in General

Cryptocurrency markets, in general, are seeing losses over the past 24-hours. Although over the last hour there have been improvements across the board. The weekly charts show the top ten digital assets are all still up between 5-51 percent, except ethereum markets which are down 0.69 percent. Ethereum (ETH) prices are hovering around $521 per token and over the past 24-hours, ETH is down 3.7 percent. Ripple (XRP) markets are down today 3.5 percent as one XRP $0.63 cents per coin. The fourth highest market capitalization bitcoin cash (BCH) is down 3.7 percent and one BCH today is coasting along around $982. Lastly, litecoin (LTC) markets are also down 4.1 percent and each LTC is roughly $159 per token. Overall cryptocurrency volume across all 1583 digital assets is around $14.1Bn over the past 24-hours.

Markets Update: Trader Sentiment Optimistic But Signals Still Unclear

The Verdict: Short-Term Bearish Sentiment — Long-Term Bullish Optimism

Digital asset proponents seem very optimistic that markets will recover in the short term. The reversal has added some positivity among a lot of traders as there are far more long bets than shorts this week as opposed to two weeks ago. There is far less regulatory FUD swarming through the community and there’s been a lot more positivity lately. However, trade volumes are still fairly flat and its nowhere near what it was during the all-time highs. Even though there have been some bullish signals, hardcore traders are still skeptical that we are out of the woods and safe from bear attacks.  

Where do you see the price of BTC and other digital assets heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Bitstamp, Trading View, and Coinmarketcap.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Trader Sentiment Optimistic But Signals Still Unclear appeared first on Bitcoin News.

BCH Markets & Infrastructure Roundup: Optimism in the Air

BCH Markets & Infrastructure Roundup: Optimism in the Air

This week bitcoin cash (BCH) prices touched a low of $850 per coin, after following suit with the majority of other digital assets taking losses over the past five days. The price started to reverse yesterday evening and has climbed 11 percent in value touching $992 during the March 19 afternoon trading sessions (EDT).

Also Read: Wirex to Launch Cryptocurrency Debit Cards in Asia During Q2 2018

Bitcoin Cash Markets Show Some Recovery

Bitcoin cash markets are looking better on Monday, March 19, as the price has lifted from its $850 dip back towards the $1K zone. BCH global trade volume has increased since the weekend, as it commands $449Mn in global trade volume over the past 24-hours. Bitcoin cash markets also hold the sixth highest trade volumes today just under litecoin and ripple. The top exchanges trading the most BCH include Okex, Huobi, Lbank, Hitbtc, and Bitfinex. Looking at the statistical data for BCH volume-by-currency the most traded currency with bitcoin cash right now is BTC. BTC/BCH swaps represent 38 percent of the market, and this is followed by tether (USDT 26%), USD (22%), the South Korean won (8.9%), and ethereum (ETH 2.1%).

BCH Markets & Infrastructure Roundup: Optimism in the Air
Bitcoin Cash (BCH) Volume by Currency

The BCH chain is over 7800 blocks ahead of the core network, but the BTC chain is still 28.5 GB larger. The bitcoin cash difficulty is operating at 10.8 percent of the core chain’s difficulty, and BCH is 4.2 percent more profitable to mine at the time of publication. There are roughly 13 mining pools processing BCH blocks including Antpool, SBI Crypto, Coingeek, Bitcoin.com, Viabtc, BTC.top, Bitclub, BTC.com, and roughly three unknown mining pools. BTC.top has the largest slice of the BCH network hashrate capturing 25 percent today.

Technical Indicators

Looking at charts show that bulls have taken charge for the time being, and BCH/USD prices have spiked considerably since yesterday. Looking at the two Simple Moving Averages both short and long-term show a gap between the 100 SMA and 200 SMA on the 4-hour chart. The longer-term 200 SMA is above the short-term 100 trendline indicating the path upwards towards resistance will be difficult. At press time bulls are attempting to break the $1K price per BCH marker.

BCH Markets & Infrastructure Roundup: Optimism in the Air
BCH/USD chart 30-min. Bitstamp 1:30 pm EDT

MACd is on heading southbound as bulls are being pressed backward at the moment by resistance. Relative Strength Index (RSI) levels have bottomed out temporarily, and the indicator looks to be poised for another upswing.

BCH Markets & Infrastructure Roundup: Optimism in the Air
BCH/USD RSI 4-hour. Bitfinex 1:30 pm EDT

Order books looking northbound have stiff resistance from the $1K zone all the way to the $1,050 before opposition starts to taper. On the back side there’s a strong foundation all the way back to the $930 zone through the $850 region.

BCH Markets & Infrastructure Roundup: Optimism in the Air
BCH/USD chart 4-hour. Bitfinex 1:30 pm EDT, MACd, and BBands.

Infrastructure and Support

This week saw some new bitcoin cash infrastructure and support for the nascent cryptocurrency. For instance, a point-of-sale bitcoin cash payment processor called Mini-POS announced its pre-order phase for brick n’ mortar terminals. A popular Japanese app producer Mikan announced the beta launch of ‘Yenom’ a BCH-centric mobile wallet. The Bittorrent application Joystream announced it would go live on the bitcoin cash mainnet and revealed yesterday the protocol would launch this Monday.

BCH Markets & Infrastructure Roundup: Optimism in the Air
Cointext launches private beta trials enabling bitcoin cash sends over SMS texts.

Another announcement came from the project Cointext, an application that allows BCH payments across SMS. The texting application has started beta testing, and BCH supporters seem very pleased with the trials. Cointext’s protocol enables basic commands like “send, withdraw, deposit, and balance” and transactions are settled on-chain. One native from South Africa was thrilled about the SMS texting options as he’s been able to receive BCH without an internet connection.  

“Bitcoin cash goes live in south Africa through Cointext,” he explains.

Finally, we can send and receive BCH in Africa without internet and with any type of mobile phone, Hurray!! This is a big win for the crypto universe. BCH and Cointext just broke a record in history.

The Verdict: Optimism is in the Air

The BCH community was also pleased with the recent 0-confirmation test against the firm Cryptonize.it. According to the company, an unknown person lost $2,000 when buying a $1,000 gift card in a failed ‘double spend’ attack. The test created by Cryptonize has solidified the argument that 0-confirmations are safe, a firm belief held by on-chain scaling supporters. Cryptonize says they plan to launch other challenges soon as well so people can attempt to double spend on the BCH chain.

Overall the bitcoin cash community seems confident and positive about the future. Markets look more favorable for the week ahead, and there have been lots of new BCH announcements over the past seven days.

Where do you see the price of bitcoin cash heading from here? Let us know in the comments below.


Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Bitstamp, Trading View, Cointext, and Cryptocompare.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post BCH Markets & Infrastructure Roundup: Optimism in the Air appeared first on Bitcoin News.