Markets Update: Bears Claw Billions Off Digital Currency Valuations

Markets Update: Bears Claw Billions Off Digital Currency Valuations

Cryptocurrencies tumbled once again today in value as a great majority of digital assets are seeing losses this Saturday. Since our last markets update the entire digital currency economy shaved another $15 billion off the market capitalizations of all 1,600+ cryptocurrencies. Alongside the dreary prices, trade volumes have also been lackluster, leading many individuals to believe there may be more dips to come down the line.

Also read: High Times Becomes the First IPO to Accept Cryptocurrencies

Cryptocurrencies Fall in Value Once Again This Weekend

A bunch of the top digital assets took a hit again today after a bit of consolidation and while other coins nurtured the wounds suffered from the last dip on August 1. During the past four days, the entire market valuation of all the digital currencies in existence has lost $15Bn USD. At the moment bitcoin core (BTC) markets are hovering just above the $7,000 mark after dropping earlier today from $7300 down to $6926 very quickly. During the first hour of August 4, bitcoin cash (BCH) values were around $731 per BCH, but at the same time all the other cryptocurrency markets dipped, BCH followed suit by dropping down to $692. At the moment BCH is hovering around $696 per coin. The other currencies in the top five market capitalizations ETH, XRP, and EOS have also seen losses over the last 24-hours between 2-4 percent.

Markets Update: Bears Claw Billions Off Digital Currency Valuations
Tether (USDT) takes the ninth position on Saturday, August 4, 2018.

Bitcoin Core (BTC) Market Action

Today bitcoin core markets have lost around 5.4 percent and over the last seven days 14.9 percent in value. Right now the most traded pair with BTC this Saturday is tether (USDT), commanding 51 percent of trades. This is followed by USD (25.8%), JPY (13.2%), EUR (3.6%), and KRW (2.6%). The top five exchanges swapping the most BTC include Bitflyer FX, Binance, Bitfinex, Coinbene, and Okex. Bitcoin core’s entire market valuation at the time of publication is $121B, and over the last 24 hours, there’s been $4.2B worth of BTC traded. The top cryptocurrencies traded on the peer-to-peer platform Shapeshift is ethereum (ETH) for BTC and the coin’s dominance rating amongst all other market valuations is 47.7 percent.

Markets Update: Bears Claw Billions Off Digital Currency Valuations

BTC/USD Technical Indicators

Looking at the hourly and 4-hour BTC/USD charts on Coinbase and Bitstamp shows bulls are trying to push ahead but are failing to surpass heavy resistance. 4-hour RSI levels are showing oversold conditions at press time (24.12) while the MACd looks like it may continue heading southbound. The MA 100 is well above the MA 200 trendline which gives traders another indication that the path towards the least resistance is the downside. Unfortunately for BTC and a large majority of other top performing digital assets, there are many signs the price could go lower if bears continue to break down support levels. Order books show BTC bulls would need to muster up the strength to surpass $7,100 through $7,300 but even then the upward battle continues. On the backside, there’s massive support holding all the way until $6,700 but support after that is still pretty hefty until right around $6,300.

Markets Update: Bears Claw Billions Off Digital Currency Valuations

Bitcoin Cash (BCH) Market Action

At the moment bitcoin cash (BCH) markets are down 3.9 percent today and over the last seven days 15.8 percent in value. BCH volume has jumped a hair as the cryptocurrency today is capturing the fourth highest trade volume above EOS. The biggest pair swapped with BCH today is tether (USDT) which captures 53.5 percent of bitcoin cash trades. Other currencies that follow include BTC (33.3%), USD (5%), ETH (2.9%), and QC (2.3%). The top trading platforms exchanging the most BCH include Coinex, Okex, Binance, Huobi Pro, and Hitbtc.

Markets Update: Bears Claw Billions Off Digital Currency Valuations

BCH/USD Technical Indicators

Looking at BCH/USD charts on Bitstamp and Bitfinex show things have definitely been grim over the last 24-hours. Just like BTC/USD bears are pushing the BCH/USD market as well making certain their presence is here. Most traders have their eyes glued to that 200 moving average (MA) support level as bulls must reject any new lows in order to proceed upward. However much like BTC, the 100 MA is above the 200 MA showing another downside push could easily take place. RSI levels (4-H/ 32.24) are oversold at the moment which means prices could have a slight reversal and the 4-hour MACd is meandering very low at press time. Traders can see that order books show there is heavy resistance for BCH traders all the way until $740 which will give bulls a short break until they hit huge resistance just before $800. There’s plenty of support for BCH until $625 and there is good foundations beneath the sub-$600 zone.

Markets Update: Bears Claw Billions Off Digital Currency Valuations

The Verdict: Skepticism and Doubt Remains

As our previous markets update confirmed the stormy seas are not over within the world of cryptocurrency markets at the moment. Things have been volatile in crypto-land, to say the least, and there have been a few surprising dips over the last week. The verdict this weekend is even more skepticism and doubt unless there’s a sudden turn around soon. On the bright side, there have been a lot of long contracts stacking up on leverage exchanges, showing some are betting on a reversal alongside the fact there is strong buy support in these regions for most digital assets.

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: Bears Claw Billions Off Digital Currency Valuations appeared first on Bitcoin News.

Markets Update: Cryptocurrency Valuations Gain Billions in One Day

Markets Update: Cryptocurrency Valuations Gain Billions in One Day

Two days ago, cryptocurrency bulls were attempting to break strong resistance and managed to push digital asset values to much higher price regions. The price of bitcoin core (BTC) was averaging $6,740 per BTC during the early morning trading sessions on July 17, then the digital currency spiked to $7,300 a few hours later. Then again, BTC touched a high of $7,546 gaining over $800 over the course of the day. Digital currency prices, in general, followed BTC’s path as most of the top cryptocurrencies gained 10-20 percent in 24-hours.

Also read: Bitcoin ABC Developers Publish Bitcoin Cash Upgrade Timeline 

Crypto-Bulls Return But Will They Run Out of Steam?

The crypto-bulls are back, at least for time being, bringing most of the top digital assets back into the green after months of bearish sentiment. Most of the digital currencies are seeing gains between 10-20 percent but some coins like Stellar are up well over 30 percent today. The overall market capitalization of all 1600+ assets on July 18, is hovering around $296Bn with 24-hour trade volume around $20Bn. Cryptocurrency trade volumes across the boards have spiked considerably since our last markets update two days ago.

Bitcoin Core (BTC) Markets

Bitcoin core (BTC) market action has seen 24-hour trade volume jump from $4.4Bn on Monday to $6.6Bn today. Currently, BTC/USD is valued at approximately $7,435 per BTC. At the time of publication, the entire BTC market valuation is roughly $127Bn and BTC commands the top trade volume out of all the top markets. The top exchanges swapping the most bitcoin core today include Bitflyer, Coinbene, Bitfinex, Binance, and Fcoin. The Japanese yen is the most traded pair today with BTC capturing 54 percent of global trades. This is followed by tether (USDT 26.5%), USD (13.6%), EUR (2%), and the KRW (1.4%). Bitcoin dominance among the entire list of market capitalizations is approximately 43 percent at the time of publication.

BTC/USD Technical Indicators

Looking at the daily, 30-minute, and 4-hour BTC/USD charts on Bitstamp and Coinbase shows BTC reversed trends after completing an inverse head & shoulders pattern. Right now, looking at the two Simple Moving Averages (SMA), the short term 100 SMA is now well above the 200 SMA trendline. This gap indicates the path of least resistance is toward the upside for the time being. The MACd looks maxed out and may head southbound while the Relative Strength Index (RSI) is hovering above 86 showing overbought conditions. With this being said, a jump to the $8K region may not be in the cards, at least for today. Order books show resistance is strong between $7600 to $8K so BTC bulls will have to overtake this area. On the backside, if bears took control, which seems unlikely, there is strong foundational support all the way back to $6,400.

Bitcoin Cash (BCH) Markets

Bitcoin cash (BCH) markets are also doing very well this Wednesday as the currency now captures a $14.5Bn market capitalization. Trade volume for BCH has increased since our last report as well by doubling to $794Mn over the last 24-hours. The top exchanges by BCH trade volume today include Okex, Binance, Bitfinex, Coinex, and Bigone. The top currency swapped with BCH on July 18 is tether (USDT) at 42.6 percent. Following tether is BTC (27.5%), USD (17.5%), KRW (3.5%), and ETH (2.5%). Bitcoin cash holds the fifth highest trade volumes today on global exchanges.

BCH/USD Technical Indicators

Right now, looking at BCH/USD daily, 30-minute, and 4-hour charts on Bitfinex and Bitstamp shows BCH has a price average of around $869 per coin. Just like two days ago, the SMA trendlines show the long-term 200 SMA is still above the 100 SMA indicating the path to least resistance is towards the downside. However, this gap is shrinking and it looks like the two will cross hairs soon. MACd touched a high and is heading southbound at the moment and BCH RSI levels are around 73 right now. This means conditions are overbought but not as much as the BTC/USD charts. Order books are large on both sides and BCH bulls need to muster up the strength to surpass the current vantage point to $925, after that they will face less resistance. Looking at the buy side shows some solid foundations between now and the $740 zone.

The Verdict: Steady Flow of Market Optimism

Overall, things are looking good for cryptocurrency markets but prices may retract in the short term so bulls can gather more steam and keep the upward momentum going strong. Other digital currency markets that have done significantly better than BTC and BCH include EOS, XLM, ADA, and Doge. The infamous dog-meme cryptocurrency is up 60 percent over the past seven days and 32 percent over the past 24 hours.

The verdict this week shows a steady flow of optimism stemming from cryptocurrency proponents and traders. A good portion of traders on social media channels believe brighter days are ahead and the bullish reversal will continue at least up until the bitcoin-based ETF decision in August.    

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: Cryptocurrency Valuations Gain Billions in One Day appeared first on Bitcoin News.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Cryptocurrency markets are slumping today as most digital asset markets are seeing losses between 8-20 percent over the past 24-hours. Lots of speculators are attributing the dump to the recent measures taken by Japan’s Financial Services Agency (FSA), asking cryptocurrency exchanges like Bitflyer to make improvements to the Japanese trading platforms’ anti-money laundering practices.

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

The Crypto-Bears Are Back

Just a few days ago digital currency market prices were reversing northbound after the extremely bearish first two weeks of June. Now markets are once again being attacked by bears, and most of the top cryptocurrencies are seeing deep losses over the past day. Bitcoin Core (BTC) values have tumbled 8.5 percent over the last 24-hours and the currency is down 6.3 percent over the last week. Bitcoin Cash (BCH) markets are also down 12.5 percent during the past day, and over the last seven days BCH is down 11.7 percent. The decline in prices started after Japan’s FSA began telling exchanges they need to upgrade their systems and anti-money laundering procedures. We don’t really know whether or not this announcement is the true reason behind the dump, but traders and speculators have tethered the two together.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Bitcoin Cash Market Action

Bitcoin Cash market prices are hovering around $759 USD per BCH at the time of publication. BCH is the fifth most traded cryptocurrency today as far as volume is concerned as the market has traded roughly $496Mn over the past day. At the moment the BCH market capitalization is 13.2Bn. The top exchanges swapping the most BCH today are Okex, Bitfinex, Huobi, Hitbtc, and EXX. The top currency traded with bitcoin cash today is BTC holding an average of around 42 percent of trades. This is followed by tether (USDT 22.8%), USD (21.2%), ETH (3.7%), and KRW (3.4%).

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

BCH/USD Technical Indicators

Looking at the charts show things are uglier today than our last markets update. The two Simple Moving Averages (100 & 200 SMA) have a deep gap between each other looking at the 4-hour BCH/USD chart on Bitfinex. The short-term 100 SMA is well below the longer term 200 SMA which indicates the path of least resistance will likely be towards the downside. However, MACd is steadily heading southbound and could reverse and show improvement in the next few hours. The Relative Strength Index (RSI) levels are showing oversold conditions around -29 at the time of publication. This also reveals we could see a small trend reversal soon for a short period of time and volume indicates this as well. Looking at order books towards the upside bulls need to muster up strength and push past strong resistance at $800. There’s another upside pitstop at $875 if bulls really push it to the limit before getting exhausted. On the backside, bears will see some stops between the current vantage point and $680 as there are some strong foundations there for the time being.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Bitcoin Core Market Action

Bitcoin Core (BTC) market prices are around $6,135 on Friday, June 22, 2018. The currency is the largest traded cryptocurrency as far as volume and BTC has traded $4.3Bn over the last day. The digital assets total market valuation today is 106Bn and BTC market dominance is 40.7 percent a slight increase since last week. The top exchanges trading the most BTC today include Binance, Bitfinex, Okex, Huobi, and Bitflyer. The Japanese yen accounts for over 60 percent of trades on June 22 as yen volume has decreased. This is followed by the USD (31%) USDT (7%), EUR (1.9%), and KRW (1.1%).

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD chart on Coinbase and Bitstamp shows similar action taking place compared to the BCH/USD analysis. The 100 SMA is below the 200 moving average which shows again that bears may continue holding the reigns. MACd just saw a small push up but is now heading southbound once again. RSI levels are around -21 indicating oversold conditions as well. BTC bulls need to jump past the $6,400 range again and will see more resistance around $6,700 where the price hovered for a few days prior. On the backside, bears will need to crunch through buy orders between now and $5,400 which are mountainous walls, at least for now.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

The Top Crypto-Markets Tumble — EOS Suffers

Overall most of the top currencies are seeing losses, and the second highest capitalization belonging to ethereum (ETH) is down 10.7 percent today. One ETH is priced at $474 per coin, and the currency is down 5.2 percent over the last week. The second highest market, ripple (XRP), is down 7 percent today and one XRP is $0.49 cents per token. Lastly, the fifth largest valuation still belongs to EOS but the token is down 16.8 percent today. One EOS is priced at around $8.63, and markets have shaved 20.3 percent over the last week.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

The Verdict: Skepticism Remains Strong

The verdict today is far less positive then our last markets update as things are starting to look gloomy again as the weekend approaches. Traders are all calling newer and lower bottoms, and many are skeptical of brighter skies in the short term.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Of course most are optimistic about the long-term but for now, no one is sure how long this bear run will last. With the naysayers saying 2018 is nothing like 2014 (including myself), it just may be that we are going through similar circumstances that may last just as long.

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, Coinlib.io, and Satoshi Pulse.


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

The post Markets Update: Cryptocurrency Prices Tumble Before the Weekend 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.


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

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

Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward

Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward

Digital assets are seeing some recovery today on May 29, as cryptocurrency bulls are attempting to press market prices higher. Cryptocurrency values dropped pretty low this weekend once again after being unable to hold steady earlier last week. Bitcoin Cash (BCH) weighted price values are averaging $975-986 at press time, gaining 5.3 percent over the past 24-hours. Bitcoin Core (BTC) values are around $7,420-7,460 per coin, and have seen an increase of around 2.4 percent during today’s trading sessions.

 Also read: The Exahash Era: SHA-256 Mining is a Significant Achievement in Computer Engineering

Crypto-Markets Rally Back on Tuesday, May 29 — But Will the Gains Be Short-Lived?

Today we’re seeing a bit of a minor cryptocurrency rally after prices dipped to significant lows yesterday across the board. There’s definitely been a slight surge in purchasing as on-balance-volumes (OBV) showed a great divergence towards lower levels yesterday. At the moment the entire cryptocurrency market is hovering around $323 billion USD and 24-hour volume is around $17.6 billion. This shows that over the last 30 days the entire cryptocurrency economy has lost $106 billion USD in value. The May 29 minor recovery taking place today is testing major resistance across most digital asset market action, and the next day or so will decide where market values are headed.

Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward

BTC Market Action

Bitcoin Core (BTC) markets are showing a bit of a comeback this Monday morning gaining around 2.4 percent. 24-hour trade volume has increased to $5.4Bn since our last markets update which has helped push the current rally. The top exchanges today swapping the most BTC are Binance, Okex, Bitfinex, Huobi, and Bitflyer. The Japanese yen commands the top position today traded with BTC capturing 53.9 percent. This is followed by other pairs traded with BTC by the USD (20.4%), tether (USDT 16.1%), KRW (3.5%), and the EUR (3.4%).

Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward

BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD chart on Bitstamp shows BTC bulls are attempting to push through some major resistance. Currently, the two Simple Moving Averages (SMA) still show the longer-term 200 SMA above the 100 SMA trendline. This indicates the path to resistance is still looking towards the downside, and today’s intraday traders may feel like shorting at certain vantage points above this region. RSI levels are around 53 right now and meandering higher, indicating today’s rally could keep pressing onwards. Today’s trading sessions also show that BTC bulls need to surpass the 50-week Moving Average (MA) in order to see a more affirmative bullish signal. Right now order books on the upside have heavy resistance from the current price level to $8,100, and after that things are a bit smoother. On the back side, books show that bears will see resistance around $6,900 to $6,300, and if the market goes below that then things will look uglier.

Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward

BCH Market Action

Bitcoin Cash (BCH) market action is seeing some bigger gains today, jumping 5.3 percent in value over the last 24-hours. BCH trade volume at the moment is $665 million amongst the world’s top exchanges. Today the trading platforms trading the most BCH include Okex, Hitbtc, Bitfinex, Huobi, and EXX. On the peer-to-peer exchange, Shapeshift.io, the most popular trade today is Dash for Bitcoin Cash swaps. BTC is the dominant pair with BCH on May 29 encompassing 39 percent of all trades. This is followed by tether (USDT 27.4%), USD (20.8%), KRW (8.7%), and the EUR (1.4%).

Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward

BCH/USD Technical Indicators

4-hour BCH charts show bulls are pushing hard against resistance and have made some progress today. However, the 200 SMA is still well above the short-term 100 SMA, indicating when resistance is met there may be a downside break again. Unfortunately, other indicators reveal the same thing as the RSI oscillator at 75.9 shows overbought conditions and the MACd looks to be retreating as well. Order books show if buyers managed to press past $1,025 then there will be smoother seas up until $1,145. On the back side, it looks pretty decent for foundations and support between now and $885, but from there it won’t look pretty like we said in the aforementioned BTC charts.

Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward

The Top Five Cryptocurrency Markets

A majority of the top cryptocurrency markets are seeing gains today and are in the green. The second highest valued market capitalization is still Ethereum (ETH) as prices hover today around $563 per ETH. Ripple (XRP) has shown some improvement as well seeing 2.5 percent gains with one XRP averaging $0.59 U.S. cents per coin. Lastly, the coin that’s been a forerunner this past couple of weeks, EOS, is seeing decent market losses on May 29. EOS is down 2.66 percent and the price per token is around $11.96. The downturn is likely due to the Chinese-based firm, Qihoo, releasing data on serious security “vulnerabilities” tethered to the EOS platform.

Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward

The Verdict: The Song Remains the Same

During our last markets update the overall verdict was “uncertainty,” and unfortunately this short-term outlook still remains the same. Enthusiasts and traders throughout forums, social media, and Telegram trade groups still are skeptical of a significant reversal at this time. One of the biggest reasons being — Trade volume is just not as strong as it was weeks and months ago, and its been growing weaker. On a more positive note, cryptocurrency development continues in full swing and there have been a lot of optimistic announcements made over the past three weeks about growing infrastructure and new investment vehicles. Right now cryptocurrencies are at major resistance levels, and whether they’re surpassed or not will show a clearer indication of where the cryptocurrency economy is going from here.

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: Slight Comeback Shows Cryptocurrencies Press Forward appeared first on Bitcoin News.

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

Cryptocurrency markets have had a rough week over the last seven days as many digital assets lost quite a bit of value that most coins had gained two weeks prior. Currently, markets are seemingly consolidating and have remained somewhat stable over the last 24-hours. At the moment Bitcoin Core (BTC) values have been hovering around $7,470-7,560 during the last few hours. Meanwhile, Bitcoin Cash (BCH) prices are steadily holding just above the $1K region at $1,038 per BCH at the time of publication.

Also Read: Bank in Argentina Launches BTC Settlement Services

A Crazy Volatile Week in Crypto-Land Filled With Lots of FUD

It’s been another crazy week in the world of cryptocurrency markets as most of the recovered gains most digital assets gathered from three weeks ago have been erased. Trade volume has been considerably low for nearly every market as the $13Bn worth of trades is less than half the volume we saw two weeks ago. Many cryptocurrency enthusiasts witnessed the U.S. Department of Justice (DoJ) initiated a probe earlier this week that aims to look for manipulation in Bitcoin market values. Interestingly enough those watching order books watched thousands of cryptos being sold at market rates just before the mainstream media announced the DoJ probe, which to some traders that phenomenon indicated actual manipulation from the very organization’s initiating the probe.    

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
Cryptos have been in a bear market since the year started.

Bitcoin Cash Market Action

Bitcoin Cash markets have been seeing some losses over the past few days since our last markets update. Today’s trading sessions show BCH prices hovering around $1,038 as the past 24-hours have seen a drop of about 1 percent. Over the last seven days, BCH markets are down 13 percent with today’s trade volume hovering around $538Mn. Top exchanges trading the most BCH on May 26 are Okex, Hitbtc, Lbank, EXX, and Huobi. The top currency swapped with BCH today is BTC as the asset captures 44.8 percent of trades today. This is followed by tether (USDT 29.9%), USD (15.5%), KRW (7%), and the ETH (1%).

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

BCH/USD Technical Indicators

Looking at the 4-hour and 1-day charts for Bitfinex (BCH/USD) shows some mixed signals and deep consolidation. Right now RSI levels are around 39, showing oversold conditions, and the MACd shows convergence around -5 revealing momentum may pick up today. However, the two Simple Moving Averages (SMA) trend lines are still spread with the 100 SMA below the long-term 200 SMA. This indicates a continued bearish outlook as the path to resistance looks to the downside.

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
May 26, 2018, BCH/USD Bitfinex.

Bulls have eaten through lots of resistance over the past 24 hours and need to push past $1,070 for smoother seas. The next pitstop will be around $1,125 as BCH bulls will need to break this zone. If the bears continue relentlessly beating crypto-markets there are some solid foundations on the backside of BCH order books. Going downwards we will see pit stops at 950 and 900 per BCH if prices happened to drop that low going forward. Beyond that books become much thinner.

The Top Cryptocurrency Market Performances This Weekend

Overall most cryptocurrency markets are seeing some slight recovery today and consolidated behavior. Bitcoin Core (BTC) markets are up a hair at 0.61 percent for the intra-day but over the past seven days, markets are down 8.8 percent. BTC’s current weighted price average is $7,560 as BTC bulls are trying to break above current resistance. The second highest market cap held by Ethereum (ETH) is up today 0.42 percent and the price hovers around $605 per ETH. Ripple (XRP) markets are up 1 percent as one XRP is priced today at $0.62 cents. Lastly, the fifth position is still held by EOS, and out of the top five, it has improved the most seeing a 2 percent gain today. EOS is averaging around $12.65 per token at the time of publication.

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
Top ten cryptocurrency valuations on May 26, 2018.

The Verdict: Uncertainty Remains

The verdict this week is similar to our last markets update as traders still seem uncertain to where the ‘Good Ship Crypto’ will take them. 2017 was a wild ride but 2018 has been nothing but FUD, regulations, and bearish market sentiment. Even exciting developments and positive developments this spring have not been able to lift markets beyond the $10K region for weeks on end. Currently across social media, forums, and big trading groups on Telegram the sentiment remains uncertain over the course of the short term but long term sentiment continues to be bullish.

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: Bear Market Adds Cryptocurrency Trading Uncertainty 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: Cryptocurrencies Lose Steam During the Weekend

Markets Update: Cryptocurrencies Lose Steam During the Weekend

Cryptocurrencies have been dropping in value this Saturday, May 12 as most digital assets are down between 3-15 percent. The price of Bitcoin Cash (BCH) is hovering around $1,446 at press time while gaining 3.4 percent today  And Bitcoin Core (BTC) values are averaging roughly $8,473 per BTC and its markets are down 1.4 percent this weekend.

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

Digital Assets Take a Dip During This Weekend’s Trading Sessions

Traders and cryptocurrency enthusiasts are uncertain of the short-term path ahead for digital assets, as most cryptocurrencies have lost a bunch of value once again. Many believe digital assets will see a rise at some point next week, as cryptocurrency markets have consistently risen every year in mid-May year after year. News has been fairly positive as Wall Street seems to be embracing cryptocurrencies even more so these days as new indexes and funds have launched. However, crypto-proponents are still concerned about regulations as exchanges are still being raided in South Korea and other governments enforce new measures. Moreover, the infamous Mt Gox trustee has moved bitcoins once again, and many believe those coins are being liquidated for fiat.

Markets Update: Cryptocurrencies Lose Steam During the Weekend
Top ten cryptocurrencies on Saturday, May 12, 2018, according to Satoshi Pulse. 

BCH Market Action

Bitcoin Cash (BCH) values have dipped considerably since our last markets update as BCH prices over the past seven days have lost 13.6 percent. Even though prices are down volumes have risen and the past 24-hours worth of trade volume is around $1.49Bn today. Right now the top five exchanges swapping the most BCH today are Okex, Upbit, Bitfinex, Bithumb, and Huobi. South Korean markets (KRW/BTC) have spiked considerably when it comes to BCH trades this weekend. BTC pairs with BCH have dropped but is still the most dominant pair as BTC encompasses 28.3 percent of BCH trades. This is followed by tether (USDT 26.4%), KRW (21%), USD (20.1%), and the euro (1.9%).

Markets Update: Cryptocurrencies Lose Steam During the Weekend

BCH/USD Technical Indicators

Looking at charts show some consolidation taking place and new positions being staked. The two Simple Moving Averages (SMA) show bulls could still take the game back to the upside, as the 100 SMA is still largely above the 200 SMA. MACd indicates some uncertainty at -42.17 which could show some improvement may take place in the near future. Relative Strength Index oscillator indicates the same sentiment, as it meanders around 42 at press time. Order books show bulls need to break resistance at $1,490 to move further ahead and from this vantage point, it still looks attainable. On the back side if bears try and short the market books indicate there are solid foundations between $1,360 and $1,250.

Markets Update: Cryptocurrencies Lose Steam During the Weekend
BCH/USD Bitfinex May 12, 2018

BTC Market Action

Bitcoin Core (BTC) markets are down 14 percent over the past seven days and one BTC is priced at $8,473 per unit. BTC volumes are decent today with over $7Bn worth traded over the past 24-hours. The top five exchanges trading the most BTC today includes Binance, Bitfinex, Okex, Huobi, and Bitflyer. The Japanese yen is the dominant currency traded with BTC as the yen is capturing 52.9 percent of today’s trades. This is followed by the USD (21%), tether (USDT 16.7%), KRW (3.8%), and the euro (2.6%). The most popular swap today on May 12 on the peer-to-peer platform Shapeshift is BTC for BCH.

Markets Update: Cryptocurrencies Lose Steam During the Weekend  BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD chart shows the two SMA trend lines are currently different than BCH markets. The short-term 100 SMA is below the long-term 200 SMA which indicates the path to resistance may be towards the downside. At press time bulls have attempted to cross above the $8,550-8,650 range, with little luck. MACd shows this action just took place but more improvements can happen within the coming hours. RSI levels are around 45.5 which indicates some consolidation and some upwards movements are still in the cards. BTC bulls have to eat through massive sell walls to get above $9K again and then more mountains above $9,600. On the backside there are stiff foundations around $8,150, and if that area breaks we will see another pitstop at $7,800.

Markets Update: Cryptocurrencies Lose Steam During the Weekend
BTC/USD Coinbase May 12, 2018

The Verdict: Market Optimism Remains

As stated above, there are a lot of cryptocurrency enthusiasts and traders betting on a rise in digital asset markets in the near future. But this past dip seems to show a bit of consolidation before any type of break out takes place, as most currencies touched a three-week low this week. Even so, most people still seem optimistic for the coming weeks ahead.

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: Cryptocurrencies Lose Steam During the Weekend appeared first on Bitcoin News.

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.

Markets Update: Cryptocurrencies Erase Two-Day Losses

Markets Update: Cryptocurrencies Erase Two-Day Losses

Cryptocurrencies are seeing some relief during today’s trading sessions just before the weekend, as the top ten digital assets are currently up 3-11 percent. Most of the losses that took place two days ago have been erased as the total market capitalization of all digital currencies now tops $420Bn USD.

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

Cryptocurrencies Rebound Erasing Most of the Week’s Losses

Digital currencies are showing bullish momentum today as the losses 48-hours ago seemed to be a ‘bear trap.’ BTC/USD markets reached a low of $8,647 yesterday but then rebounded back to the $9,380 region earlier this morning EDT. At the moment the current weighted average for BTC/USD prices is hovering around $9,250 per coin and trade volume has been around $7.9Bn over the last 24-hours. Daily BTC/USD values are up 4.6 percent at the time of publication and 9.8 percent over the last week. The top five exchanges today swapping the most BTC include Okex, Binance, Bitfinex, Bitflyer, and Huobi. Out of all 1591 cryptocurrencies, BTC has an overall market valuation dominance today around 37 percent. The Japanese yen currently commands the most BTC trades today, capturing 53 percent of the market. This is followed by the USD (20%), tether (USDT 15%), KRW (4.9%), and the EUR (3.6%). The most popular trade today on the peer-to-peer platform Shapeshift is ETH for BTC swaps.

Markets Update: Cryptocurrencies Erase Two-Day Losses

BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD chart shows that bulls are trying to muster up the strength to break resistance at $9,500 and above. The two Simple Moving Averages (SMA) show the short term 100 SMA is well above the long-term 200 trendline. This indicates the path towards resistance should head towards the upside after some deep sell walls. The Relative Strength Index (RSI) shows the oscillator is meandering around 56.3, indicating consolidation is taking place. MACd looks poised to move northbound in the short term after dropping very low 8 hours ago. Order Books show BTC bulls need to smash past the $9,400 range all the to the $9,900 territory in order to surpass the $10K mark. At the moment this play could be in the cards unless the weekend brings a bunch of bear action. On the backside if bears do grab the reins again foundations look decent at $9,150 through $8,600, and after that things begin to thin.

Markets Update: Cryptocurrencies Erase Two-Day Losses
BTC markets are hovering around $9,250 USD at 11:30 am EDT.

Bitcoin Cash Markets See Recovery

Bitcoin Cash (BCH) markets are doing quite well today as BCH values are up 3.8 percent. One BCH is hovering around the $1,388 territory and markets are still up by 31.7 percent over the last seven days. Trade volume has dipped a good amount since our last markets update down to close to $1Bn over the past 24-hours. The top exchanges swapping the most bitcoin cash during the April 27 trading sessions include Okex, Huobi, Bitfinex, Hitbtc, and Lbank. The top currency traded for BCH today is BTC as bitcoin core trades account for 35 percent of the 24-hour market volume. This is followed by tether (USDT 26%), USD (21%), the Korean won (11%), and the euro (1.7%). Alongside this, both ETH and BNB represent 1 percent of the BCH trades per coin.

BCH/USD Technical Indicators

BCH/USD charts show some similar activities taking place looking at indicators. The SMAs have a gap in between them but the 100 SMA and 200 SMA trendlines are not quite as wide as BTC charts. Still, with the 100 SMA above the long-term 200 trendline, the path to resistance for bitcoin cash should also be on the upside. 4-hour RSI indicates the oscillator is hovering around 58.6 while the MACd is around 36. This means currently BCH bulls are facing stiff resistance but should be able to chew through orders. Bulls will face some big sell orders around $1,420 and $1,500 again. Further, there are much tougher walls around $1,550-1,600 and after that is smoother sailing. On the backside, there are strong buy walls between now and $1,300 flat before things get thinner.

Markets Update: Cryptocurrencies Erase Two-Day Losses
BCH markets are hovering around $1,388 USD at 11:30 am EDT.

The Verdict: The Past Four Months Left Traders Skeptical But Most Proponents Are Optimistic

Of course, the spikes during today’s trading sessions have created some confidence among traders today, and many believe some more price highs are coming. Some other notable increases today came from ETH markets, EOS, and Stellar. The past four months of bearish prices have added some skepticism towards price hikes but it seems a good majority of traders believe the bearish sentiment is over.   

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 Coinmarketcap.


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

The post Markets Update: Cryptocurrencies Erase Two-Day Losses appeared first on Bitcoin News.

Markets Update: Bears Return to Crypto Markets for Some Action

Markets Update: Bears Return to Crypto Markets for Some Action

On April 25 digital assets are seeing volatile price declines today across cryptocurrency markets worldwide. Over the past 24-hours, the entire cryptocurrency market capitalization has lost more than $30Bn since our last markets update. Bitcoin Core (BTC) market prices are averaging $8,920 right now after tumbling to the $8,700 territories earlier today. Bitcoin (BCH) market values have also dropped from their $1,550 high and currently hover around the $1,270 zone.

Also read: ‘Coindaddy’ Another Crypto-Rapper Rhymes About Bitcoin Life

Bears Claw BTC Prices Below the $9K Zone

Bears have managed to claw digital asset markets as many are nurturing fresh losses today. BTC/USD prices are seeing a 24-hour decline of around 4.19 percent as prices have dipped below the $9K zone. Trade volume for BTC markets is still very steady and there’s a lot of action taking place with $11.9Bn traded over the past 24-hours. The top five exchanges swapping the most BTC include Binance, Bitfinex, Okex, Huobi, and Bitflyer. Meanwhile, the Japanese yen captures 49 percent of today’s BTC trades. This is followed by the USD (26%), tether (USDT, 14%), the euro (4%), and the South Korean won (3.3%). The euro has jumped above the won’s metrics as the currency takes the fifth global position today.

BTC/USD Technical Indicators

Charts show that BTC bulls hit some severe resistance after briefly touching $9,755 during yesterday’s trading sessions. Although there’s been a dip, the two Simple Moving Averages (SMA) on the 4-hour show, the 100 SMA is still above the longer-term 200 SMA. This indicates the downturn may be short-lived and the path to resistance will be headed towards the upside. MACd is dipping southbound while the Relative Strength (RSI) Levels have followed suit showing oversold conditions. Order books on the BTC/USD side indicate bulls need to break resistance again above the $9,200 region to get some better stride. There will also be another pitstop around the $9,700 range again, if they can make it that far. On the back side, there are strong buy walls between the current vantage point and $8,200.

Markets Update: Bears Return to Crypto Markets for Some Action
BTC/USD prices hover around $8,920.

Bitcoin Cash Markets Daily Gains Drop 13% But Still Gained 49% Over the Past Week

The bear market action has also affected BCH markets over the past 24 hours, as well. At the moment, BCH markets are down today 13.6 percent but are still up 49 percent over the past seven days. Bitcoin cash volume is still pretty good with close to $2Bn in daily trade volumes. The top five exchanges trading the most bitcoin cash today include Okex, Bitfinex, Huobi, Upbit, and GDAX. The top currency swapped with BCH today is BTC by 33.1 percent. This is followed by the USD (30%), tether (USDT, 20%), the South Korean won (10.5%), and the euro (2%). Ethereum pairs with BCH account for 1.2 percent of today’s trading action.

Markets Update: Bears Return to Crypto Markets for Some Action

BCH/USD Technical Indicators

BCH/USD charts show that bitcoin cash bulls also hit hard resistance but hours before BTC did. Both BCH and BTC markets have been showing some uncorrelated activities between both markets. Still, just like BTC charts, the 4-hour BCH/USD SMAs have a nice gap between the 100 and 200 SMA trendlines. This indicates the path to resistance should also continue towards the upside, unless BCH bulls get too exhausted. MACd and RSI levels are also heading southbound showing market look oversold and will likely see some improvements. Order books show BCH bulls have some tough resistance to get past the $1,300 region all the way to the $1,375 territory. On the backside, if bears manage to keep relentlessly clawing back, the price foundations between $1,250 and $1,150 are solid.

Markets Update: Bears Return to Crypto Markets for Some Action
BCH/USD prices hover around $1,270.

The Verdict: Optimism Still Remains

The bear market could very well be a ‘bear trap’ where investors are lured into selling at lower prices because they panic. Most traders across social forums on Telegram and Reddit are optimistic about the past two weeks of bullish upswings. So far, sentiment remains positive even during the past 24-hour downturn. Some coins are still up, well over 40-50 percent, looking at the past thirty days, and the quick dip was to be expected.

Where do you see the price of BCH, BTC, and other digital assets 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 Coinmarketcap.


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

The post Markets Update: Bears Return to Crypto Markets for Some Action appeared first on Bitcoin News.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week

Markets Update: Bitcoin Cash Prices Up Over 60% This Week

The price of Bitcoin (BCH) has spiked considerably over the past two weeks as the decentralized cryptocurrency’s market has just captured a $20Bn capitalization. The market value of BCH is currently hovering around $1,250 per coin and the digital asset commands close to $1Bn in trades over the past 24-hours.

Also read: ‘Coindaddy’ Another Crypto-Rapper Rhymes About Bitcoin Life

Bitcoin Cash Markets Surge

Bitcoin (BCH) is on a rampage, surpassing most of the 1,500 cryptocurrency performances this week recorded on Coinmarketcap. Today the market value of one BCH is 13.80 percent of the price of one Bitcoin Core (BTC) token. The reason for this is due to the significant demand for BCH this past week as the currency’s trade volume has doubled in less than three days. Over the past 48-hours, the top trade on the peer-to-peer exchange Shapeshift is BTC for BCH. Over the past seven days, data shows bitcoin cash markets have seen a 60 percent gain.  

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
Over the past few days, the top trade on the peer-to-peer trading platform Shapeshift has been Bitcoin (BTC) Core for Bitcoin (BCH).

Although, Bitcoin Core swaps against BCH have dropped significantly over the past few days, as bitcoin cash is capturing a lot more direct fiat trades during today’s trading sessions. BTC trades represent 40 percent of the BCH trades today, when last week they were well over 50 percent. This is followed by tether (USDT 24%), the U.S. dollar (22%), the South Korean won (7.8%), and the euro (1.8%). The influx of USD, EUR, and KRW into BCH has increased significantly this week.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
Today Bitcoin’s (BCH) price and market cap are close to 14% of the legacy BTC’s market valuations. 

  BCH/USD Technical Indicators

Technical indicators show on the daily, weekly, and 4-hour charts that BCH is positioned to continue its rally. The two Simple Moving Averages (100 SMA & 200 SMA) on the 4-hour chart are about to cross hairs with the short term 100 rising above the longer term trendline. This indicates the path to resistance will be on the upside which could lead to higher price ranges in the short term. At the moment prices are overbought according to the Relative Strength Index (RSI) which is meandering around 70.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
At the time of writing on Sunday, April 22, 2018, at 2:30 pm EDT one BCH is averaging around $1,253 per coin.

Meanwhile, the MACd is relentlessly headed northbound so a drop in price after bulls hit resistance may soon follow this run-up. Bulls have to muster up some more strength from the current vantage point all the way to $1,290 range to get some smoother seas and less sell walls. On the backside, there are solid foundations all the way back to $1,145 and more pit stops before the sub-$1,100 territories.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week

BCH Infrastructure and Support Grows This Week

Bitcoin cash infrastructure and support have increased again this week as the firm Bitpay has added more BCH features to its merchant services solution. The exchange Coinmama recently added BCH and LTC to the trading platform. Meanwhile, the firm Cheapair.com’s CEO detailed how it would likely be using Bitpay over Coinbase for merchant services and will be accepting BCH. Additionally, the bitcoin cash community has been very excited about a new BCH micro-transaction powered social media system called Memo. The platform allows users to follow other profiles feeds and makes content sharing immutable by utilizing the BCH chain. Lastly, the mining operation Antpool revealed this week it would be burning 12 percent of BCH fees in order to bolster digital scarcity.

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, Shapeshift, Coin Salad, Trading View, and Coinmarketcap.


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

The post Markets Update: Bitcoin Cash Prices Up Over 60% This Week appeared first on Bitcoin News.

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 and BCH Prices Continue to Slide

Markets Update: BTC and BCH Prices Continue to Slide

Cryptocurrency values are still slumping downwards as they have been for the past three consecutive months. Currently, the overall cryptocurrency market valuation of all 1,500+ digital assets is $248Bn after losing billions over the past few days. BTC/USD markets are below the $7K territory and recently touched a low of $6,510 per coin.

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

The Dumping Continues to Plague Cryptocurrency Markets

Markets Update: BTC and BCH Prices Continue to SlideThe dumping continues to ensue as markets are still feeling the effects of a bearish phase the past few months. So far BTC/USD values have not yet double bottomed to the $5,900 low point but have been meandering awfully close to that price region. Today BTC volumes are weaker than usual as the past 24-hour trade volume has shaved a billion and rests at $4B right now. The top five exchanges swapping the most BTC includes Bitfinex, Okex, Binance, Bitflyer, and Huobi. All of the trading platforms are seeing much lighter trade volumes than our recently published Markets Update.

The Japanese Yen Comes Close to Capturing 60% of Global BTC Trades

One striking metric during today’s trading sessions is the amount of trade volume with BTC against the Japanese yen. The yen currently captures 57 percent of the global trade volume today with the USD falling behind (21%). Below the USD is tether (USDT 12.6%), the euro (3.1%), and the South Korean won (2.8%). BTC prices have a market cap dominance level of 45 percent out of the $248Bn and all 1500+ assets are swapping a measly $10.5 billion today.   

BTC/USD Technical Indicators

Technical indicators show buyers are trying to breach past the $6,600 zone but have been unsuccessful so far. Most of yesterday’s trading sessions remained sideways at $6,800. Today there’s a touch of bullish action happening at the moment looking at the 4-hour BTC/USD chart but it’s not much. Both Simple Moving Averages (SMA) are again spread with the 100 SMA well below the long-term 200 SMA trendline. Both Macd and RSI Stochastic oscillators have been sliding southbound following the bearish divergence. Order books show that walls above the $7,600-8,200 zones are not too bad but bulls need to accumulate momentum to take the price to those levels. On the back side, BTC/USD order books show some really strong support around the $5,900 range once again. That specific foundational support flows all the way to the $5,400 range and traders can expect pit stops in those areas.

Markets Update: BTC and BCH Prices Continue to Slide

Bitcoin Cash Markets Nurse Deep Price Wounds and Flat Volumes

Markets Update: BTC and BCH Prices Continue to SlideBitcoin cash (BCH/USD) markets are down 4 percent and the price is hovering just above the $600 territory at the time of publication. Volume is flat for global trade volumes as the BCH market has traded only $228Mn over the past 24-hours. The top five exchanges trading the most bitcoin cash during today’s trading sessions includes Hitbtc, Lbank, Okex, Huobi, and Bit-Z. Bitcoin core (BTC) trades against BCH is the most prominent currency pair today as the currency captures 54 percent of exchanges. This is followed by the USD (18%), tether (USDT 17.2%), the South Korean won (3.7) and Binance Coin (BNB 2.2%). Bitcoin cash is the eighth most traded cryptocurrency today by volume and the market holds a $10.3Bn market capitalization.

BCH/USD Technical Indicators

BCH/USD charts also show a significant bearish divergence as bitcoin cash has lost roughly $50 in USD value per coin since yesterday. Just like BTC, the SMA trendlines for BCH/USD markets are very similar as there’s a gap in between the 100 SMA and 200 SMA. The 100 SMA is well below the 200 SMA which indicates the path to resistance will be on the downside. Looking at the 4-hour window shows RSI Stochastic oscillators also indicate some bearish short-term sentiment. BCH/USD order books show much tougher buy and sell walls. There’s some solid resistance from the current vantage point of $650-675. On the backside, there are strong foundations between the $575 and $540 territories.

Markets Update: BTC and BCH Prices Continue to Slide

The Verdict: In the Real World Spring is Approaching but the Dreaded ‘Crypto Winter’ is Still Scaring Traders

Nearly every single cryptocurrency market besides tether USDT is down in value and some digital assets are struggling to recover. One notable altcoin market the past couple days is EOS/USD which actually has seen some gains. The cryptocurrency EOS has silently captured the number six position on Coinmarketcap just behind litecoin (LTC). The bearish markets have set a thick layer of uncertainty and skepticism towards crypto markets lately. Many traders are hoping for a reversal but there haven’t been any good signals indicating a frothy comeback is in the cards. For now, most traders are either weathering the storm by ‘hodling’ or riding the waves by shorting bitcoin all the way down on exchanges like Kraken and Bitmex.

Where do you see the price of BTC and BCH 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: BTC and BCH Prices Continue to Slide appeared first on Bitcoin News.

Markets Update: Cryptocurrency Prices See Some Slight Recovery

Markets Update: Cryptocurrency Prices See Some Slight Recovery

The price of bitcoin and a slew of other cryptocurrencies have started to see some slight recovery on Tuesday, April 3rd’s morning (EDT) trading sessions. The entire economy of over 1,500 different cryptocurrencies has increased in value surpassing a $278 billion market capitalization with 5-20 percent gains.

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

Some Brief Market Recovery

Markets Update: Cryptocurrency Prices See Some Slight RecoveryOver the last few days, cryptocurrency markets have been nurturing losses as digital asset values slid significantly. Currently, the entire crypto-economy is trading $13.1Bn USD in 24-hour volume, and most coins saw some gains over the past day. Right now daily statistics for BTC/USD markets are up 5.5 percent and BTC prices are hovering just below the $7,400 region. BTC trade volume is still flat as traders are swapping roughly $5.1Bn in trades over the past 24-hours. The top five exchanges facilitating these trades include Bitfinex, Okex, Binance, Huobi, and Upbit. These trading platforms are exchanging over $150Mn or more in global trade volume over the last day.

During the past few weeks, the Japanese yen has gradually captured over 50 percent of the global BTC trade volume. The case remains the same today as the yen currently commands 56.4 percent of the world’s trades. This is followed by the U.S. dollar (22.1%), tether (USDT 12.7%), the South Korean won (3.2%), and the euro (3%). Currently, on the peer-to-peer platform Shapeshift the most traded coin against BTC is BCH. Tether USDT is still the second most traded digital currency for the past couple of weeks. There is over $1.6Bn USD in tether swaps today likely because the bear market is still not over.

Markets Update: Cryptocurrency Prices See Some Slight Recovery
At the time of publication, BTC/USD is averaging around $7,375 at 12 pm EDT. 

Technical Indicators

Technical indicators show some slight differences between now and three days ago. For instance, the 100 Simple Moving Average has crossed paths above the long-term 200 SMA trendline. This indicates that bears are now exhausted, and bullish participants temporarily have the reigns. Moreover, the path to resistance should be on the upside going forward at least for the next 12-hours. The Relative Strength Index is steadily approaching the 70 zone indicating some bearish sentiment may be in the cards after this run-up. Macd is also converging upwards showing similar readings.

Markets Update: Cryptocurrency Prices See Some Slight Recovery
RSI/STCH BTC/USD Bitstamp 4/3/18

In order to maintain a reliable bullish reversal, traders must rally past the $7,800 zone and hold the momentum in order for things to look a bit more positive. At the present moment, BTC/USD order books show some tough resistance around the $7,500 zone and some stronger walls around $8,100. Bulls need to close the daily above the $8,100 territory for the current rise to be more than just a ‘dead cat bounce.’ On the back side order books also show foundations are relatively weak all the way back to the $6,500 price area. After that position, books show some tighter support and more extensive buy orders.

Markets Update: Cryptocurrency Prices See Some Slight Recovery
BTC/USD markets trend above the $7K zone.

The Top Digital Asset Markets

Overall the cryptocurrency market, in general, is seeing some gains and many digital assets are nursing wounds. The second highest market capitalization held by ethereum (ETH) is up 3.8 percent as one ETH is hovering around $404. Ripple (XRP) is also in the green as markets are up 8.3 percent today and XRP is trading at $0.53 cents. The fourth highest market valuation held by bitcoin cash (BCH) markets is up over 5.6 percent as one BCH is testing $705 per coin. Lastly, litecoin (LTC) prices are seeing gains around 5 percent as well with market averages around $125 per LTC.

Markets Update: Cryptocurrency Prices See Some Slight Recovery
A great majority of digital assets are in the green today seeing gains.

The Verdict: Sentiment Across Market Participants Remains Extremely Skeptical

Basically, cryptocurrency traders across the boards are still skeptical even after seeing the latest rebound in price. BTC/USD market prices have been following a consistent pattern of lower highs and deeper lows. Most alternative digital assets continue to be correlated with BTC market trends and BTC dominance among all 1,599 cryptocurrencies is currently 45 percent. Sentiment among the community is a bag of mixed emotions including denial, those who think they are the Nostradamus of crypto-markets, and those who believe cryptocurrencies are going to see much lower values than today.  

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: Cryptocurrency Prices See Some Slight Recovery appeared first on Bitcoin News.

Trading Cryptocurrencies Like a Boss Takes Time and Research

Trading Cryptocurrencies Like a Boss Takes Time and Research

Over the years there have been many news.Bitcoin.com tutorials about the very basics of trading, market indicators, and the multitude of websites that collect vast amounts of data. Some of these resources give traders a step towards making their first trades. Now after a few losses and some lucky gains these individuals are interested in how to read the market.

Also Read: PBOC to Strengthen Cryptocurrency Regulations in 2018

Confidence is Silent

Trading Cryptocurrencies Like a Boss Takes Time and Research
Head n Shoulders pattern.

Learning to trade can be difficult but there are so many experts in the field and online resources that can teach anyone to trade cryptocurrencies. The first thing to realize is that bitcoin markets or any cryptocurrency markets are very different than your average stock or FX trading arenas. In fact, many people will tell you that traditional technical analysis (TA) will never be accurate when it comes to digital currency markets. However, there are those that use regularly to day trade, make a living, and predict the short-term price swings we all know and love.

The first thing a trader should get to know is the most common financial chart used in the cryptocurrency industry which is the candlestick chart. The size of each candlestick represents a certain time interval, and individuals who study TA look for patterns in the market. This is when you will hear about certain chart patterns like the ‘Head n Shoulders, the Cup n Handle, Triple Top & Triple Bottom,” and many more funky phrases. However, these pattern help traders predict cryptocurrency price movements in the short and long term. They say after memorizing enough patterns individuals can see them subconsciously while day trading.

Trading Cryptocurrencies Like a Boss Takes Time and Research
Studying Japanese candlestick charts can produce patterns that may be helpful towards predicting short and long-term price movements.

Cryptocurrency traders then take things to the next level by using a wide variety of tools that are also known to help forecast price movements in markets. One of the biggest indicators in the market many traders utilize is moving average data. For instance, a Simple Moving Average (SMA) is used by calculating the average of a digital assets closing value over a set interval. An Exponential Moving Average (EMA) and Displaced Moving Average (DMA) are more complex than the SMA. An EMA responds in a swifter manner to price fluctuations while the DMA is moved in set periods of time so a trader can predict market trends.

Trading Cryptocurrencies Like a Boss Takes Time and Research
Moving averages are common trendlines followed by traders.

Another helpful tool used in trading digital assets is the Relative Strength Index (RSI). The oscillator basically determines the price momentum whether it climbs or falls. The measurement of speed is recorded between 0-100 and it’s one of the most popular trading indicators in many markets. The squiggly line typically meanders about sideways, or up or down, and if the line dips below 30 the market is oversold. When the RSI starts climbing past 70 then the analyst will say the price is overbought.

Trading Cryptocurrencies Like a Boss Takes Time and Research

Trading Cryptocurrencies Like a Boss Takes Time and Research
The RSI and MACd are just a couple of different indicators that help traders forecast price movements.

Moving averages and the RSI is just the tip of the iceberg when it comes to cryptocurrency trading tools. Traders use other tools such as Bollinger Bands, Moving Average Convergence/Divergence (MACd), Stochastic, the Detrended oscillator, Fibonacci retracement and so much more. All of these tools and more are combined with plotting chart patterns used by traders flipping cryptocurrencies on the side or for a living. They are also incorporating other methods like Elliott Wave Theory and the tenets of the Dow theory so they can forecast the infamous bitcoin ups and downs in value.

Trading Cryptocurrencies Like a Boss Takes Time and Research
The basic five wave sequence found in common Elliot Wave patterns.

Now good traders can study all of this stuff and figure out how to use these types of indicators. However, smart traders are also listening to the streets of crypto, so to speak, as many cryptocurrency enthusiasts have realized that news and community emotions can move the price of bitcoin. For instance, if there is a large exchange hack or some government ruling in the short term you can probably guess bitcoin’s price will go down a touch. If there is positive news like CME and Cboe opening futures markets some people bet the price would go up. Most traders are listening very closely to all that happens in bitcoin because they have a lot of skin in the game.

Trading Cryptocurrencies Like a Boss Takes Time and Research
Trading crypto is not easy and it takes time and patience. Even if you think you know all the chart patterns, indicators, and cryptocurrency street knowledge you can still lose everything.

Lastly even an individual who is very knowledgeable about technical analysis, and they also follow the street very closely, might make some very wrong predictions. Cryptocurrencies like bitcoin can often trick traders, and all that street knowledge and TA goes out the window. Traders with extremely crafted TA skills can lose their shirt in a matter of minutes in bitcoin-land. So, make sure you know for certain that’s a legitimate head n shoulder or bull flag.

Do you trade cryptocurrencies? Let us know your techniques in the comments below. 


Images via Shutterstock, Stock charts, Pixabay, Wiki Commons, and Paramount Pictures. 


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Markets Update: Cryptocurrencies Lose Over 20 Percent This Week

Markets Update: Cryptocurrencies Lose Over 20 Percent This Week

The market value of all cryptocurrencies within the digital asset economy has dropped significantly over the past few days. Since the last year’s all-time high, most cryptocurrencies have lost between 60-70% of those gains. While lots of coins are following suit in relative unison with BTC/USD market losses, some digital currencies have received more severe cuts in value.

Also read: Bitkan CEO Discusses China, Bitcoin Cash, and the ‘K Site’

Bull Traps, Bear Runs, and Falling Knives

The digital currency bear market is still in full swing this week even though many cryptocurrency enthusiasts are begging for the storm to end. Meanwhile, other proponents are using the lower prices to get some cheaper cryptocurrencies as they believe the bull market will return soon. At the moment BTC/USD markets are kicking back into gear after reaching a low of $6,590 a few hours back and now bulls have breached past $7K once again. Market volume has not changed over the past few market updates and still rests at around $5.9Bn in 24-hour trade volume. Top exchanges processing the most volume this evening are Bitfinex, Binance, Okex, Huobi, and Bitflyer. Over the past seven days, BTC/USD markets have lost 19 percent in value but markets are up over the past 24 hours.

Markets Update: Cryptocurrencies Lose Over 20 Percent This Week
Tether USDT holds the second largest trade volume.

The Japanese yen is still dominating the pack of currencies traded against BTC as the fiat currency captures 54 percent at the time of publication. This is followed by the USD (23%), tether (USDT 12.5%), the euro (4%), and South Korean won (2.8%). Of course during the dumps tether volume is seeing demand as it’s the only currency that’s been in the green all week long. Another interesting thing to notice is USDT is occupying the second highest volume just under BTC and above ethereum (ETH). The biggest trade on Shapeshift this evening is trading BTC for ETH as 44 percent of Shapeshifters are trading BTC for another currency.

Markets Update: Cryptocurrencies Lose Over 20 Percent This Week
During the early morning hours (EDT) bulls have managed to break the $7K resistance.

Technical Indicators

Looking at the 4-hour window showed some earlier retractions and a bearish MACd and RSI. The 100 Simple Moving Average (SMA) is well below the long-term 200 SMA which indicates the path to resistance may continue to the downside. Projections today pushed well below the 78.6 Fibonacci Retracement level as BTC/USD prices touched $6,590. A crucial low below $5,900 would mean a double bottom or lower than prices that scarred markets just a few weeks ago. Looking at order books, if bulls manage to gather some momentum then the resistance past $7,500 and $8K might not be that bad to manage. However on the backside, order book foundations are far more solid around $6,400 than they are now.

Markets Update: Cryptocurrencies Lose Over 20 Percent This Week
BTC/USD prices touch $7,120 per coin but continue to struggle from that vantage point.

The Top Digital Asset Markets

Most cryptocurrencies are up right now, but over the past seven days they have all suffered immensely. The second highest market capitalization held by ethereum is down 23 percent as one ETH is around $411 per token. Ripple (XRP) lost 20 percent this week and XRP prices are $0.52 cents right now. Moving on to the fourth highest market valuation, bitcoin cash (BCH) is down 28 percent over the past seven days. BCH market values are around $727 per coin this evening. Lastly, litecoin (LTC) markets are still resting in the fifth position but LTC values are down 26 percent this week as prices are around $122.

Markets Update: Cryptocurrencies Lose Over 20 Percent This Week
The top ten digital asset markets on March 31, 2018.

When Will the ‘Crypto-Winter’ End?

Traders are either having fun surfing the shorts all the way down or they don’t know what to think as it’s been a tumultuous trading season this year. So far most of the market action in 2018 has been downward prices and a long bear market. Short contracts on Bitmex are stacked more than longs and traders in forums are calling for a double bottom. Some of them are repositioning their musical chairs either trying to catch a falling knife or profit from a bullish reversal.

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.


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Markets Update: Cryptocurrency Prices Begin to Sink Once Again

Markets Update: Cryptocurrency Prices Begin to Sink Once Again

Cryptocurrency prices have dropped considerably over the past 48 hours since our last markets update. Currently, the entire digital asset ecosystem has lost more than $32 billion since that time, and BTC/USD values have once again dipped under the $8K range.  

Also Read: 80,000 New Merchants in Europe Gain Option to Accept Crypto

BTC Sees Another Drop Below $8,000 USD

Markets Update: Cryptocurrency Prices Begin to Sink Once AgainTraders are seeing quite a bit of bearish sentiment within cryptocurrency markets as more than 60 percent of the top digital assets are seeing losses. BTC/USD markets are hovering just above the $7,800 region after losing momentum just above the $8K zone during today’s early morning trading sessions. BTC global trade volume is only a few million lower than our last analysis, as the past 24-hours has seen about $5.2Bn in trades. The top five exchanges worldwide trading the most BTC today include Bitfinex, Okex, Binance, Bitflyer, and Huobi. The Japanese yen is once again dominating the fiat pack traded with BTC as the yen has commanded over 54 percent of global trade volume. The rest of the currencies traded behind the yen include the USD (22%), tether (13.9%), the euro (3.5%) and the Korean won (2.9%). There’s around $14.4Bn worth of global trade volume among all 1,500+ cryptocurrencies during the past 24-hour trading sessions.

BTC/USD Technical Indicators

Looking at BTC/USD charts show bulls have shown signs of exhaustion after the price was hovering around $8,500+ just a short time ago. The 4-hour chart shows the Macd is heading southbound around -207.29. RSI and Stochastic have been following the same downwards pattern, however, the oscillators have started kicking upwards a bit over the past 4-hours. This indicates BTC prices are struggling at the moment with failed attempts to keep the price above $8K.

Markets Update: Cryptocurrency Prices Begin to Sink Once Again

Since our last markets update, the long and short term Simple Moving Averages (SMA) had crossed hairs and split, showing signs of bearish sentiment. The gap between the 100 SMA and the 200 SMA is now much more extensive, indicating the path to resistance looks to the downside. Order books show a pretty good temporary foundation until the $7,600 territory. After that, there’s a good amount of buyers all the way to the $6,900 zone. On the upside, bulls breaching the $8K region again, continuing to drive past $9K, could indicate some bullish momentum.

Markets Update: Cryptocurrency Prices Begin to Sink Once Again
At the time of publication, BTC/USD prices hover around $7,820.

Bitcoin Cash Markets Continue to Follow a Similar Correlated Pattern

Markets Update: Cryptocurrency Prices Begin to Sink Once AgainBitcoin cash (BCH) markets are also feeling today’s losses, as the currency is now around 890 per BCH. Over the past 24-hours, BCH trade volumes across popular exchanges is about $339Bn. The most traded currency swapped for BCH today is BTC (51%), and traders have seen many opportunities over the past 24-hours. This is followed by tether (USDT 25%), USD (14.4%), the South Korean won (3.2%), and Binance coin (1.6%). The leading trading platforms show a small kick upwards on the 4-hour chart. Although the jump northbound could be a bull trap in the making. Last week’s bearish divergence indicated the price of BCH could drop below $1K, as signs of the dip started showing just three days ago.

BCH/USD Technical Indicators

BCH/USD charts show a similar correlation to BTC/USD patterns across the 4-hour template. There’s not much difference between the two, as both cryptocurrencies are down in value compared to a few days ago. The 100 SMA and 200 SMA are similarly gapped with the short term 100 well above the 200 trendline. This indicates resistance is fierce at the moment, and, if the price of BCH doesn’t get past the current vantage point, the coin’s value could go lower. RSI and Stoch levels are seeing a temporary bounce up, but both have been heading southbound. Order books show the value should hold pretty decent between $825 and $780 per BCH. On the flip side, if bulls manage to push past resistance during the eastern side of the world’s trading sessions there will be some pit stops around $910 and $1K. 

Markets Update: Cryptocurrency Prices Begin to Sink Once Again
At the time of publication, BCH/USD prices are roughly $877 per coin.

The Verdict: Crypto-Traders Uncertainty and Doubt Remain

As mentioned in our last markets update, traders have been uncertain after the BTC/USD price dropped, trying to stay above $9K. Shorts (betting against the price) started stacking up on exchanges like Bitmex and other trading platforms, offering margin trading. Long (betting the value will be bullish) contracts have slimmed as well over the past weekend. Regulatory FUD has lessened a touch in the news but overall the past few months of doubt still plagues cryptocurrency markets today.

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: Cryptocurrency Prices Begin to Sink Once Again appeared first on Bitcoin News.