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.”


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Markets Update: Crypto Markets Tests Key Support Levels

Markets Update: Crypto Markets Tests Key Support Levels

Bearish momentum appears to be accelerating across the cryptocurrency markets following the failure of BTC to hold above the long-term ascending trendline dating back to July 2017. As of this writing, the BTC markets appear to be falling to test support at the $6,000 USD area after forming a large descending triangle. The leading alternative cryptocurrency markets are following suit, with all of the top ten cryptocurrency markets having lost approximately 10% against USD in the last 24 hours.

Also Read: As Bitcoin Futures Volumes Increase Credit Agencies Look to Downgrade Dealers 

Bitcoin Breaks Below Symmetrical Triangle

It has been a rough week for the BTC market so far, with the price of bitcoin having lost roughly 15% in the last four days. The accelerating selling pressure can be attributed to bitcoin’s failure to break above the long-term symmetrical triangle comprised of an ascending trendline running from July 2017, and a descending trendline connecting the all-time of $20,000 to the local high of $10,000.

As of this writing, the immediate price action shows BTC trading for approximately $6,300 after producing a small bounce following a sharp drop down to $6,100. The bitcoin markets are yet to retest the prior local support area of roughly $6,600. In breaking below the symmetrical triangle, BTC has formed a descending triangle, with current price action testing the $6,000 resistance area for the third time this year.

Markets Update: Crypto Markets Tests Key Support Levels

Many trades are inferring from current price action that the short to medium term outlook may have a bearish bias – as BTC has broken below a key long-term ascending trendline, and have broken below the local low produced during April.

Bitcoin Cash Tests Major Trendline

The BCH markets are currently trading for approximately $815 after making a third point of contact with a descending trendline from the all-time price high and breaking below the $1,000 area for the third time in 2018 on Monday.

Markets Update: Crypto Markets Tests Key Support Levels

The price of BCH has lost 23.5% in the last four recent days, with current price action approaching the support-line of a large symmetrical triangle spanning the entirety of the market’s history. Immediate price action appears to be readying for a modest bounce off the key price area of approximately $775 – which shows confluence with the breakout area from November 2017, in addition to comprising February’s low. A bounce off this area would also comprise a fourth point of contact with the long-term ascending trendline dating back to the first week of BCH trading.

Whilst the Bitcoin Cash markets are not bucking the bearish trend, should the current support area hold, BCH could produce a higher low – which, after May’s bounce, posted a higher top than was produced in February, would comprise a confluence of notable bullish signals.

However, even if BCH is able to bounce off the approximately $750 area, it remains to be seen as to whether the market will be able to break above the large symmetrical triangle which appears to be guiding recent price action. BCH has also been highly correlated with BTC in recent months, suggesting that if BTC continues to bleed, it is highly likely that BCH will follow suit. A break below the year-long ascending trendline would likely signal further bearish action.

Ethereum Forms Symmetrical Triangle

Ethereum has lost approximately 20% in the last four days, with the price of ETH falling from approximately $600 to roughly $465 as of this writing. ETH is testing the support-line of large symmetrical triangle formation stemming from the market’s all-time price high of roughly $1,400, with current price action making a fifth point of contact with the ascending trendline dated from late-May 2017.

Markets Update: Crypto Markets Tests Key Support Levels

As with many other markets, even if Ethereum is able to bounce off the long-term ascending trendline, it is unlikely that the ETH markets will produce significant recovery unless Ethereum is able to break above large symmetrical triangle in which price action is currently trending.

EOS Drops by 55% in 6 Weeks

After rallying to produce a record high of approximately $23 at the start of May, the EOS markets have since produced heavy losses of over 55% in six weeks, including a drop of nearly $30% in last four days. As of this writing, the price of EOS is testing support at roughly $10.

Markets Update: Crypto Markets Tests Key Support Levels

Throughout June, EOS has maintained its position as the fourth most traded cryptocurrency by 24-hour volume.

Do you think that the markets are set to produce further bearish action in the short term? Join the discussion in the comments section below!


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Markets Update: Crypto Prices Take a Weekend Beating

Markets Update: Crypto Prices Take a Weekend Beating

Cryptocurrency markets are suffering from deep losses today, on June 10, 2018, as most digital assets are seeing 24-hour declines between 9 and 25 percent. The number one position, held by Bitcoin Core (BTC), dropped more than a $1,000 just a few hours ago, from $7,600 to $6,600, but prices have rebounded back to $6,787 per BTC. The fourth highest valued market, held by Bitcoin Cash (BCH), dropped around $225 in value after hovering around $1,150 for a while. The currency is now averaging $933 per BCH. It’s safe to say market participants are shaken and many are curious about why the market keeps sliding.

Also Read: CFTC Subpoenas Leading Exchanges for Trading Data

Crypto Markets Take a Jab to the Gut This Weekend

Markets Update: Crypto Prices Take a Weekend BeatingA dump took place today that hit markets below the belt, as most cryptocurrencies lost significant values. Last week, towards the beginning of the weekend, markets were pretty stable and consolidating tightly into a triangular formation. Then, on Saturday, the United States Commodity Futures Trading Commission (CFTC) and the U.S. Justice Department revealed they had subpoenaed four major exchanges while looking into their cryptocurrency price manipulation investigation. Just before that moment on June 9, just like last time when U.S. regulators initially announced the manipulation probe, markets slid about 1-hour before the announcement. Today’s drop was harder to put the blame on as it could have been an after effect from yesterday’s announcement, the fact that market volumes are extremely thin, or some blamed it on the small exchange from South Korea Coinrail being hacked this weekend for $40Mn worth of ICO tokens.

BTC Market Action

On Sunday, June 10, Bitcoin Core (BTC) markets are down 9.8 percent and over the past seven days, BTC markets are under by 11 percent. This means most of the losses have taken place this weekend as BTC volatility was fairly nonexistent at the beginning of the week. Right now BTC’s overall market capitalization is around $115Bn with a dominance level of around 38 percent. Trade volume is super weak and this is why a lot of traders are skeptical these days because 24-hour volumes today were around $4Bn, but since the last drop volumes jumped to $5.5Bn over the past hour. The top exchanges today swapping the most BTC are Bitfinex, Binance, Okex, Huobi, and GDAX. The Japanese yen is dominating BTC currency pairs big time commanding more than 60 percent of BTC trades at the time of publication. This is followed by the USD (19.2%) tether (USDT 13.5%), EUR (2.7%), and the KRW (2.2%). Of course, there was a significant drop in South Korean won-BTC pair action today.

Markets Update: Crypto Prices Take a Weekend Beating

BTC/USD Technical Indicators

Looking at the charts shows BTC bulls had mustered up some strength to push above the $6800 zone but the fight was a real struggle. 4-hour charts show the two Simple Moving Averages (SMA) have a good sized gap between them with the 200 SMA well above the 100 SMA trendline. This means bearish sentiment may continue during the short term and markets are very close to a triple bottom. After the last push the MACd is heading downwards and RSI levels are very low too (15.78) indicating oversold conditions. Daily Bollinger Bands (B-bands) are seeing a significant coil and buyers below the current vantage point are itching for lower prices. Looking at order books shows bears will see pit stops around $6,400 and the triple bottom $5,900 region. If bulls can heal right now, after that intense beating, then they need to overcome big walls around $7,300 and 7,800 to at least catch some fresh air from the onslaught.

Markets Update: Crypto Prices Take a Weekend Beating

BCH Market Action

After a few solid weeks of BTC being the dominant pair with Bitcoin Cash (BCH), today tether USDT has taken the lead at 31.77 percent. This is followed by BTC (31.5%), USD (21.9%), KRW (9.1%), and the EUR (1.9%). Bitcoin Cash has lost around 16.4 percent over the last 24-hours and 19 percent over the last seven days. This Sunday, the total market capitalization for BCH is around $15.9Bn with about $693Mn in 24-hour trade volume. The top trading platforms exchanging the most Bitcoin Cash today include Okex, Binance, Huobi, Bitfinex, and Lbank. The losses in BCH values have been very much correlated with BTC market tumbles but prices have still remained around 0.14 BTC per BCH.

Markets Update: Crypto Prices Take a Weekend Beating

BCH/USD Technical Indicators

Looking at BCH charts on Bitfinex shows similar indicators, as the two Simple Moving Averages have a decent gap like BTC with the 100 SMA below the long-term 200 SMA. Again, this indicates the path of least resistance will be towards the downside. RSI levels show oversold conditions (30) and the MACd is sliding southbound as well at the time of writing. Daily B-bands are also extremely tight, showing a massive consolidation period taking place. Looking at order books indicates that bears will have a hard fight until 910 and then another pit stop at $860. If things go lower than that, markets are going to look ugly all around. BCH bulls need to recharge and bust past $985 but buyers will also be deterred around $1,020, as sell orders are piling up around that region.

Markets Update: Crypto Prices Take a Weekend Beating

The Top Cryptocurrency Markets

Overall, the top cryptocurrencies are down, except for ‘stablecoins’ like tether and the various others allegedly pegged to the USD. The second largest market valuation today belongs to Ethereum (ETH) but its markets are down 13.9 percent. One ETH is trading for $517 and the currency is the most swapped coin on Shapeshift today, but traded for BTC. The third largest market, Ripple (XRP), is down 13.8 percent and one XRP is trading for $0.57 cents per token. Lastly, the fifth highest valued market commanded by EOS is down significantly at 21 percent this Sunday. At the moment, EOS is trading around $11.25 per coin and holds the fourth largest trade volume over the last 24-hours.

Markets Update: Crypto Prices Take a Weekend Beating

The Verdict: Skepticism and the Search for That Confounded Bottom

You can probably guess what our market verdict is today without reading the sub-title above, as things are looking bearish and everyone knows this fact. Because markets keep sliding, then recovering, then sliding downwards, even more, has caused enthusiasts and traders to be skeptical of any bullish signals. Most traders are looking curiously for ‘the bottom’ and when that time will be, so right now many are just playing musical chairs looking for the right positions.

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.


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BTC Markets Update: Major Symmetrical Triangle Set to Break

BTC Markets Update: Major Symmetrical Triangle Set to Break

The BTC markets are currently testing two major trendlines comprising a major symmetrical triangle. As of this writing, bitcoin appears to be following a major ascending trendline that dates back to mid-2017, whilst simultaneously testing a descending trendline that runs from December’s all-time high of nearly $20,000 USD to the local high of approximately $10,000. Many traders are expecting that the resolution of the triangle will determine the direction of the next significant move in the BTC markets.

Also Read: Data Prediction Sites Show More Conservative Cryptocurrency Price Forecasts

Consolidatory Range Tightens for BTC

In recent months, the BTC markets have consolidated in an increasing tightening range between approximately $6,000 and $10,000. After last month’s local high of nearly $10,000, the markets have formed a large lopsided symmetrical triangle pattern.

As of this writing, price action appears poised to break either above or below the symmetrical triangle formation, with the current price of roughly $7,700 brushing up against both the ascending trendline that dates back to July 2017’s prices of approximately $1,800, and the descending trendline running from the all-time high of nearly $20,000 to May’s local high of roughly $10,000.

Break Out or Break Down?

BTC Markets Update: Major Symmetrical Triangle Set to BreakFor traders, the BTC markets are producing frustratingly mixed signals, with the steadily declining trade volume witnessed in recent weeks likely indicating an increasing number of market participants opting to sit on the sidelines and wait for confirmation of bitcoin’s next major move.

When looking at the stochastic RSI, bitcoin is producing conflicting signals across different time-frames. Shorter time-frames, such as the 1-day, 12-hour, 6-hour, and 4-hour, suggest that the BTC markets may be over-bought, with the stochastic RSI sitting above the 80-threshold.

BTC Markets Update: Major Symmetrical Triangle Set to Break
BTC Stoch RSI, 1-Day, Bitfinex

However, both the 1-week and the 3-day charts show the stochastic RSI to be underneath the 20-threshold – suggesting that an upward momentum shift could be imminent.

BTC Markets Update: Major Symmetrical Triangle Set to Break
BTC Stoch RSI, 1-Week, Bitfinex

Short-Term Outlook

If the BTC markets are able to break above the symmetrical pattern in which the markets have been consolidating, the move may be interpreted as a confirmation that the recent retrace has produced a higher low, and will likely serve as a catalyst for a retest of the $9,000 to $10,000 area.

Should the markets snap below the long-term ascending trendline, many traders are predicting that the bitcoin will see a test of support at the $6,000 area for the third time this year.

Bitcoin Cash Consolidates Above $1,000

The BCH markets have continued to consolidate above $1,000 in recent days, following an impressive bullish rally that saw Bitcoin Cash gain more than 30% and break out of the bear-channel that drove price action for most of May.

As of this writing, Bitcoin Cash is trading for $1,140, with the markets appearing poised to test resistance at approximately $1,200 – a price area that converges with the descending trendline running from the November all-time high to the local high of roughly $1,800 posted last month.

When looking at the BCH/BTC charts, the Bitcoin Cash markets appear to have produced its second higher low for 2018. The recent bullish momentum saw BCH gain more than 20% as it bounced from roughly 0.124 BTC to test resistance at the 0.15 BTC area.

As of this writing, BCH is trading for approximately 0.148 BTC.

Do you think the markets will break down, or break out of the symmetrical triangle formation? Share your thoughts in the comments section below!


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Markets Update: Leading Cryptocurrencies Break Above Bear Channels

Markets Update: Leading Cryptocurrencies Break Above Bear Channels

The bullish action witnessed by the cryptocurrency markets last week has seen many leading markets break above the bearish descending channels which have guided price action in recent weeks. The last couple of days has seen the many markets retrace – with many traders closely watching to see if the markets can hold up and confirm the formation of a higher low, or if they will wash out to produce more bearish momentum.

Also Read: Bitcoin Cash and Ethereum Trading Volume Soars But Ripple Keeps Falling

BTC Tests Major Trendline

The BTC markets recently posted a green weekly candle for the first time in the last four weeks – signaling for the potential for bitcoin to produce a second consecutive higher low since February’s washout down to $6,000 USD. Should support at approximately $7,000 successfully hold, many traders predicting that more bullish momentum may be in store the BTC markets. Transversely, a break-down from the current price area to retest $6,000 would also comprise the rejection of the long-term ascending trendline dated from July 2017. Should this trendline break, such would likely comprise the catalyst for further bearish price action across the cryptocurrency markets.

Looking at BTC on the 4-hour chart, one can see that it has broken above the immediate descending bear-channel in which the markets have trended for several weeks, as with many other cryptocurrency markets. If BTC can stay outside of said channel, such may be a signal for coming upward price action.

As of this writing, BTC is trading for approximately $7,600 and exerts a market dominance of 37.7%. The market capitalization of the bitcoin markets is $130.2 billion.

BCH Consolidates Above $1,000

BCH/USD has also broken out the bear channel in which price action has trend since early May after gaining approximately 15% since the start of June. If prices are able to hold up, BCH will have produced its first higher low for 2018 – potentially comprising the first signal that Bitcoin Cash may be exiting the bear trend that has dominated market action throughout 2018.

The BCH/BTC markets have also broken above a bear-channel, with Bitcoin Cash gaining over BTC by approximately 10% in the last week.

As of this writing, BCH is trading for approximately $1,150 USD, or 0.15 BTC, with BCH comprising roughly 5.7% of the total capitalization of all crypto markets combined. Bitcoin Cash is the fourth largest crypto market by capitalization with a market cap of nearly $19.8 billion.

 

ETH/BTC Forms Symmetrical Triangle

As of this writing, ETH appears to have bounced off an ascending trendline for the second time since in 2018 that dates back to December, after ETH gained approximately 10% during the last weekend over bitcoin. Whilst ETH/BTC currently appears to be forming one of several potential symmetrical triangles, a break of the immediate ascending trendline could lead to a significant breakdown relative to BTC. ETH is trading for 0.0777 BTC as of this writing.

When paired against USD, ETH has gained roughly 17% in the last week – bouncing from a recent low of approximately $520 to currently be trading for nearly $610. Looking at the daily chart, the ETH/USD markets appear to be creating a new price channel above the long-term ascending trendline from early 2017, and outside of the descending trendline that drove price action from January until early-April.

Looking at immediate price action on a 4-hour chart, ETH appears to have just crept above last month’s bear-channel, however, a break-out above the descending trendline is still far from confirmed as of this writing.

The market dominance of Ethereum is approximately 17.6% as of this writing. The market capitalization of ETH is nearly $60.9 billion.

Other Leading Markets Bounce Above Bear-Channels

The third largest crypto market by capitalization, Ripple has gained approximately 11.5% over USD this week, rallying from approximately $0.605 to $0.676.

When measuring against BTC, XRP has gained roughly 10% in the last 7 days and is currently trading for 8915 satoshis after having broken above last month’s bear-channel. Ripple has a market capitalization of $26.67 billion.

EOS has produced a significant bounce in recent days, gaining around over 16% from the last month’s low of roughly $12.15 and breaking above May’s descending channel. EOS/USD currently appears to have bounced off support at the previous all-time-high area from 2017 of approximately $14. When compared with BTC, EOS gained approximately 12% from $0.00165 to $0.00185.

EOS is currently the fifth largest cryptocurrency by market cap with $12.67 billion.

Do you think that the markets are forming a higher low? Or a dead cat bounce before more downward price action? Share your thoughts in the comments section below!


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Markets Update: Digital Currency Market Bulls Push Back After Decline

Markets Update: Digital Currency Market Bulls Push Back After Decline

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

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

Cryptocurrency Markets See a Short Term Push Upwards

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

Bitcoin Cash Market Action

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

BCH/USD Technical Indicators

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

Bitcoin Core Market Action

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

BTC/USD Technical Indicators

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

The Top Digital Assets Today

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

The Verdict: Skepticism Remains

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

 

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

Markets Update: Volume Rankings Report for May 2018 – EOS Dominates Leading Exchanges

Markets Update: Volume Rankings Report for May 2018 - EOS Dominates Leading Exchanges

May witnessed sustained bearish action in the cryptocurrency markets, with many markets giving back most of the gains made during April. When looking at trade volume, we can see that BTC was by far the most traded cryptocurrency, followed by Tether and Ethereum. EOS also saw significant action, rising to become the fourth most traded cryptocurrency during the month.

Also Read: 80% of the Top Cryptocurrency Exchanges From 2016 Have Been Replaced

$185 Billion USD Worth of BTC Traded in May

Markets Update: Volume Rankings Report for May 2018 - EOS Dominates Leading ExchangesAccording to Coinmarketcap, nearly $185 billion worth of BTC has been traded over the course of the last thirty days.

During May, more BTC was traded on the 3rd than any other day – during which $10.2 billion worth of bitcoins exchanged hands whilst the BTC markets ramped up to unsuccessfully test resistance at the $10,000 area.

By contrast, the weakest trading volume was witnessed on May 26th – with $4.05 billion worth of BTC being traded as the markets steadily broke below the $7,500 area. The first two weeks of May produced daily trading volume of roughly $5.8 billion and $10.2 billion worth of BTC daily, with volume declining to between $4.05 billion and $6.75 billion worth of BTC daily during late-May.

Tether and Ethereum Comprise $170 Billion Worth of Trade Combined

Markets Update: Volume Rankings Report for May 2018The the second most traded cryptocurrency during May was Tether – with almost $93 billion worth of USDT exchanging hands. The volume of USDT traded during May oscillated between approximately $4.75 billion and $1.8 billion daily. As with BTC, trading volume was much heavier during the early weeks of May (between approximately 3.2 billion USDT and 4.75 billion USDT daily), before declining to between 1.8 billion USDT and roughly 3.5 billion USDT daily later into the month. The largest amount of USDT was traded on the 11th of May (4.75 billion), with the least amount of USDT being traded 26th of May (1.8 billion).

Ethereum was the third most traded cryptocurrency of the last 30 days, with approximately $76.6 billion worth of ETH exchanging hands during May. The daily volume was fairly steady for ETH, with between $2 billion and $4 billion worth of ETH being traded each day except for May 3rd ($4.2 billion), May 7th ($4.3 billion), May 26th ($1.7 billion), and May 27th ($1.8 billion).

EOS Fourth Ranked Cryptocurrency By Volume Over Last 30 Days

Markets Update: Volume Rankings Report for May 2018 - EOS Dominates Leading ExchangesMay saw significant action in the EOS markets, with EOS consistently grind downwards to lose approximately 40% of its value when compared with the all-time high of approximately $20 posted at the end of April. EOS also maintained its position as a leading cryptocurrency by trade volume, comprising the fourth most traded cryptocurrency during May with a thirty-day volume of $47.5 billion USD.

When looking at 24-hour volume, we can see that EOS pairings are among most traded on the leading exchanges by volume. EOS pairings are the second and sixth highest volume pairs on the top two cryptocurrency exchanges by volume, Binance, and Okex, and comprise the top volume pairing on the third, fifth, and sixth highest volume exchanges – Huobi, Upbit, and Bithumb.

Other Top Markets by Volume Rankings

Markets Update: Volume Rankings Report for May 2018 - EOS Dominates Leading ExchangesBitcoin Cash was the fifth most traded cryptocurrency during May – producing almost $28 billion USD worth of trades during the last thirty days. The volume for BCH fluctuated between approximately $500 million and $2 billion worth of trades daily.

The sixth most traded cryptocurrency was Tron with almost $14 billion worth of trades during May, slightly edging out Ripple – which saw approximately $13.7 billion worth of XRP exchange hands over the last thirty days. Litecoin was the eighth most traded cryptocurrency with nearly $11.9 billion worth of trades, followed by Ethereum Classic with $6.5 billion, and True Chain with $6.1 billion.

24-Hour Volume Rankings Mirror Monthly Top Ten

Markets Update: Volume Rankings Report for May 2018 - EOS Dominates Leading ExchangesThe list of leading cryptocurrencies by 24-hour volume is nearly identical to the 30-day rankings.

BTC was the most traded cryptocurrency of the last day – with BTC parings accounting for 30% of trading activity over the preceding 24 hours. Tether has the second most volume with 15.5%, followed by Ethereum (13%), EOS (8.5%), Bitcoin Cash (3.75%), Tron (2.6%), Ripple (2.10%), and Litecoin (1.9%).

The sole deviation between the 24-hour and the monthly rankings is the appearance of Cardano rather than Ethereum Classic in ninth place with 1.3%. True Chain has the tenth largest volume of the last 24 hours, accounting for approximately 1% of total cryptocurrency trade.

Do you think that EOS will continue to sit as high in the volume rankings once main net launch hype subsides? Share your thoughts in the comments section below!


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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: 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.


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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.


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The post Markets Update: Cryptocurrencies Lose Steam During the Weekend appeared first on Bitcoin News.

Markets Update: Cryptocurrency Prices See Relief After Three Day Losses

Markets Update: Cryptocurrency Prices See Relief After Three Day Losses

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

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

Bitcoin Cash Markets See 4% Gains Today

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

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

Technical Indicators

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

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

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

The Top Cryptocurrencies Today

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

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

The Verdict: Market Sentiment Remains Optimistic

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

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

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

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

Markets Update: BCH Prices See Uncorrelated Movement Gain 13%

Markets Update: BCH Prices See Uncorrelated Movement Gain 13%

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

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

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

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

Markets Update: BCH Prices See Uncorrelated Movement Gain 13%

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

Technical Indicators

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

Markets Update: BCH Prices See Uncorrelated Movement Gain 13%

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

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

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: BCH Prices See Uncorrelated Movement Gain 13% 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.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

The Localbitcoins markets of several nations have produced significant spikes in recent weeks, with the peer-to-peer (P2P) markets of Hungary, Peru, and Venezuela establishing new all-time highs for volume when measuring in trade in fiat currency.

Also Read: Bitcoin in Brief Monday: Outage Downs Telegram, Bitcoin Shines on a Bank

P2P Markets of Latin America Surge

The P2P trading volume of numerous South American markets have shown considerable strength in recent weeks, with many markets producing among the strongest weeks of trading in recent history when measuring volume in fiat currency.

Peru set a new record for weekly volume for the second week in a row when measuring against fiat currency, with 1,944,396 PEN (nearly $600,000 USD) worth of bitcoin exchanging hands this past week – an approximately 14% increase from last week’s record of 1,705,992 PEN.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

When measuring volume in BTC, the last two weeks both posted approximately 71 bitcoins – the second largest number of BTC traded in a single week for Peru’s P2P markets since the 80 bitcoins traded during the week of the 19th of December 2017.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

The Brazilian Localbitcoins markets produced a spike in volume during the week of the 14th of April, with trade volume reaching 3,158,258 BRL (approximately $905,000 USD), comprising the third largest weekly volume candle in the history of Brazilian P2P trade.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Argentinian and Venezuelan Peer-to-Peer Markets Rally

Argentina’s P2P markets also rallied during the week of the 14th of April, spiking to comprise the fourth most traded week in the history of Argentinian Localbitcoins trade. The week of the 14th posted a trading volume of 4,506,932 (almost $220,000 USD).

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

When measuring volume in bitcoins, the 29 BTC traded during the 14th comprises the largest number of bitcoin traded in a single week since August 2017; however, it is dwarfed by the more than 150 BTC regularly traded on a weekly basis via Argentina’s P2P markets during 2015.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Venezuela’s Localbitcoins markets have produced a new record for weekly trade volume when measuring trade in Venezuelan Bolivars for the seventh time in eight weeks.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

When measuring trade in bitcoins, volume has actually declined for two weeks in a row – despite both weeks producing new all-time volume highs when measuring in Bolivars.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Hungarian Localbitcoins Trade Produces New Volume Record

During the week of the 14th of April, Hungary’s P2P markets produced record trading volume of 7,473,600 HUF (approximately $28,800 USD). Despite comprising a record when measured in fiat currency, only 4 bitcoins changed hands during the week of the 14th of April – a relatively small weekly volume when compared to Hungarian P2P trade in 2015. Still, the 4 BTC was the most bitcoin traded in a single week since July 2017.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Swedish trading on Localbitcoins also surged during the week of the 14th of April, posting 14,189,350 SEK (approximately $1,618,600 USD) worth of trade – the fourth largest volume candle posted in the history of Sweden’s P2P markets. When measuring trade in BTC, the 231 bitcoins that exchanged hands is the highest in a single week since November 2017, however, is dwarfed by the volume consistently produced by the Swedish bitcoin markets between 2015 and 2016.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Canada’s P2P markets have continued to produce substantial trading volume – posting the third largest weekly volume candle of 7,784,463 CAD (almost $6,075,000 USD) this week. When measuring in BTC, this past week’s volume of 893 bitcoins is the third largest in history. The most recent four weeks of trade currently comprises the four largest weeks for Canadian Localbitcoins trading.

Hungarian and Peruvian Localbitcoins Markets Post Record Volume

Do you trade using the P2P markets? Discuss your trading preferences in the comments section below!


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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.


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

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

The cryptocurrency markets have enjoyed a strong week, with BTC, BCH, and many altcoins generating significant gains in recent days. There is considerable uniformity shared among major altcoin markets, with many cryptocurrencies recovering to test the 0.236% retracement areas after breaking above descending trendlines.

Also Read: Kraken CEO Condemns “Hostile” Questionnaire Issued by New York AG

BCH Gains Over BTC

Whilst bitcoin (BTC) has made gains of 10%, this past week has seen Bitcoin Cash (BCH) perform with considerable strength, ramping up to gain nearly 50% against the dollar in just 7 days. Yesterday, the markets surged past resistance at $1,000 USD, breaking into the four-figure threshold for the first time since March. As of this writing, BCH appears to be consolidating above $1,000, with current prices sitting at roughly $1,080.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

When measuring against BTC, BCH has gained 40% in a week – bouncing from a low of approximately 0.092 BTC to the current levels of roughly 0.13 BTC. When measuring from 2018’s high of 0.25BTC, BCH is currently consolidating at the 23.6% retracement area. Bitcoin Cash is currently the fourth largest cryptocurrency by market capitalization, with a total capitalization of approximately $18.5 billion according to Coinmarketcap.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Altcoin Markets Begin to Reverse During April

After months of sustained downward price action that saw many markets lose upwards of 80% – 85%, many altcoins have produced substantial gains over the course of recent weeks after breaking above major descending trend lines against both BTC and the dollar. Many markets are now testing their respective 0.236% retracement areas when measuring from 2018’s highs.

The second largest crypto by market cap, Ethereum, has made gains of approximately 60% over the last fortnight, rallying from the local low of approximately $370 USD during early April to test the $600 area in recent days. After a strong initial bounce, ETH has made consistent gains over the past week, gaining approximately 20% in the last 7 days.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

When analyzing the ETH/BTC charts, we can see that ETH has gained roughly 28% from April’s lows of approximately 0.054. As of this writing, ETH is testing the 0.236% retracement area of approximately 0.069 BTC and boasts a market capitalization of $59 billion.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Ripple Among Top Gaining Markets

Ripple is currently the third largest cryptocurrency with a market capitalization of $33.25 billion. In the last two weeks, XRP has made significant gains of over 80%, rallying from a low of $0.45 to test resistance at the approximately $0.90 area. As of this writing, the price of XRP is roughly $0.86.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

When measuring against BTC, XRP has bounced by approximately 40% since it’s April low of approximately 0.00007 BTC. As of this writing, XRP is consolidating just below the 0.236% retracement area of 0.0001, when measuring from Ripple’s early 2018 record highs.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Top Ten Crypto Markets Produce Significant Gains

Coinmarketcap’s list of the top ten cryptocurrency markets by capitalization has remained fairly steady during April, with all leading altcoins markets posting substantial gains.

EOS and Litecoin have been vying for the position of the fifth largest crypto market, with EOS leading with a nearly $9 billion market capitalization as of this writing. EOS has gained almost 90% in just two weeks, quickly surging from below $6 to the current price levels of $11.15. When priced against BTC, EOS has gained over 45% in the last fortnight, with current prices at around 0.0012676 BTC, and is currently testing a key resistance area.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Litecoin is currently the sixth largest crypto market with a total capitalization roughly $8.4 billion. In the preceding fortnight, LTC has gained over 30%, bouncing from $115 to $150. Measuring against bitcoin, LTC has made modest gains of roughly 10% from it’s April low. As of this writing, the price of LTC is approximately 0.017 BTC. LTC is the least correlated of the major altcoin markets, having spent the majority of 2018 channeling within a 30% when paired against BTC.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Cardano, Stellar, and IOTA Double During April

The price of Cardano has nearly doubled during April, with the ADA markets rallying from a low of $0.145 two weeks ago to now be testing resistance at $0.285. ADA has gained roughly 47.5% over BTC in the last fortnight, bouncing from roughly 0.00002200 BTC to the current prices of 0.00003250 BTC. Cardano is currently the seventh largest crypto market, boasting a market capitalization of $7.4 billion.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Stellar has also nearly doubled during April, surging from a low of $0.19 to test current levels at $0.37. When paired against bitcoin, Stellar has gained roughly 46.25% in two weeks, bouncing from 0.00002900 BTC to 0.00004250 BTC. Stellar is the eighth largest crypto market with a capitalization of $6.91 billion. Stellar rallied as high as the 0.618% retracement when measuring against BTC, and is now consolidating at the 0.5% retracement area.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

IOTA is currently the ninth largest crypto market with a capitalization of $5.25 billion. IOTA has doubled in two weeks, bouncing from $0.095 to the current levels price are of $1.89. IOTA has gained 49% over BTC in the last fortnight.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

NEO has gained 60% in two weeks, bouncing from roughly $46 to $74. Against BTC, NEO has gained 25%, rallying from 0.000675 to 0.000847. NEO is the tenth largest crypto market with a capitalization of $4.8 billion.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Altcoins Are Back?

Markets Update: Altcoins Rally During Week of Bullish Action for CryptoAlthough the cryptocurrency markets have produced impressive performance during April, whether or not the markets can sustain the bullish momentum in the medium term remains to be seen.

With so many altcoin markets breaking above descending triangles and rallying to test the 0.236% fibonacci retracement areas, many analysts are waiting for the markets to pull back and produce a higher low on larger time frame charts before proclaiming that the first altcoin season of 2018 is indeed kicking off.

Do you that the altcoin markets will continue to rally in the coming weeks, or are altcoins just experiencing a dead cat bounce? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Trading View


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