Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

Cryptocurrency prices have seen some recovery after our last markets update four days ago when a large majority of digital assets lost quite a bit of value. Since then, and more so over the last 48 hours, the entire crypto-economy capitalization ($216B) has gained roughly $20B. The action yesterday was more bullish as most of the top digital assets were up between 6-20 percent but have since lost some of those gains during this weekend’s trading sessions.

Also read: Testing the Newly Transformed Non-Custodial Coinbase Wallet

Up Moves, Down Moves, and Eight Months of Corrections

Last week was pretty bad for most of the top digital asset markets, except we mentioned during our last markets update that bitcoin core (BTC) spot market prices took the least of the blows downward. Then a little less than 48 hours ago and mostly yesterday cryptocurrency markets picked up again with BTC touching a high of $6,615 on Bitstamp. But on Friday, August 17 most digital asset markets besides BTC reaped a lot more gains as a good portion of the top markets saw 10-20 percent spikes.

Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

The biggest gainers were ripple (XRP), monero (XMR), and stellar (XLM) as the values of each currency are up between 2-5 percent over the last seven days. Top digital currency trade volumes today are held by BTC, USDT, ETH, EOS, XRP, and BCH. There’s been about $14B USD worth of trade volume swapped among all 1600+ virtual currencies.  

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) markets are down today 4.3 percent while the past seven days show BCH is also down 2.2 percent. At the time of writing, BCH/USD markets are valued at $560 per coin with an overall market valuation of around $9.68B today. The top five exchanges swapping the most BCH this weekend are Okex, Coinex, Binance, Hitbtc, and Bitfinex.

Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

Market volume is fairly decent, but weaker with $420M USD worth of BCH traded over the last 24 hours. Right now the top currency paired with bitcoin cash on exchanges is tether (USDT) which captures 49.2 percent of all trades. This is followed by BTC (27.5%), USD (10.5%), ZB (3.44%), QC (3.16%), and the KRW (2.15%).

Bitcoin Core (BTC) Market Action

Bitcoin core (BTC) prices are up about 1 percent over the last seven days worth of trading sessions but are down 1.9 percent today. At press time the average price for BTC is around $6,430 per coin and BTC’s market capitalization is $110B. The top exchanges today trading the most BTC include Bitflyer, Binance, Coinbene, Bitfinex, and Okex.

Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

As mentioned above, BTC captures the top volume position with around $4B in 24-hour trade volume which is much weaker than the $5.5B traded four days ago. The top pairs trading with BTC involve the following currencies tether (USDT 59.1%), USD (19.6%), JPY (11.5%), EUR (2.9%), KRW (2.3%) and bitcoin cash (BCH 1.7%).

The Verdict: Uncertain Predictions

At the moment, even with prices showing some upswing, and some traders believing cryptocurrencies will enter a bullish trend, most traders still seem pessimistic. It’s difficult to see digital assets rise with dwindling trade volumes. Furthermore, a lot of confidence has been shot over the last eight months of false bull flags and many psychological price levels degrading. Some believe there is a noticeable support zone and prices may still move sideways and test these zones again. Other, more optimistic traders think the path of least resistance is towards the upside and markets are entering a bearish-to-bullish trend. Much of these short-term theories will likely be confirmed within the next 48 hours.

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

 

The post Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance appeared first on Bitcoin News.

Five Benefits to a Bear Market

Five Benefits to a Bear Market

We’ve been in a slump for a while now, and by the looks of it will remain in one for a good while longer. How long, how low, and how slow the recovery is anyone’s guess. If you’re reading these words, you’re still here, and thus it’s safe to assume you’re in this for the long haul. Even the most ardent of bitcoin believers is apt to feel despondent amidst the prolonged doom and gloom, but it’s not all bad; in fact bear markets can bestow some considerable benefits.

Also read: How to Get a Cryptocurrency Job

You Discover Who You Can Trust

Crypto Twitter (CT) tends to be bipolar: when things are good, they’re great, and when they’re bad, they’re awful. Right now, things have been so bad for so long that most pro traders have stopped dispensing tips and switched to full-time shitposting. Meanwhile, the less scrupulous “experts” have been quietly deleting all their previous tweets predicting the moon, sun and every other planetary position a crypto asset can conceivably reach. Bear markets are great for discovering who you can trust. The CT veterans you learn to rely on aren’t the ones who’ve never issued a wrong call – it’s the ones who have the humility to admit when they’re wrong, and who refuse to take a lengthy hiatus when the market turns sour you can trust.

Five Benefits to a Bear Market
True OGs remember Mt Gox and have been trading crypto for longer than 18 months

Bad Coins Die Faster

Bear markets are great for separating the wheat from the chaff. This applies to identifying influencers and “experts” you can trust and it also applies to coins. There’s schadenfreude in watching your most hated altcoins get rekt, or that moon-bound ICO you missed out on return to its starting price, but don’t obsess over their fate – all that stuff’s just popcorn. The real benefit with bear markets is that the literal scamcoins die faster. The ponzi schemes, lending scams and arbitrage rackets fall faster and then rebound slower when conditions improve. Despite Bitconnect exit scamming six months ago, watchdog @bccponzi has continued to monitor the projects that have emerged to take its place. There will always be scam, but you can thank a protracted bear market for killing off the worst of the worst. Oh, and for inspiring better memes…

There’s Time to Learn

During peak mania, such as in late 2017, there’s no time to study trades and no incentive to either. You could print out the first page of Coinmarketcap, throw darts at it and be guaranteed to profit from your picks. In a bear market, when there’s no dopamine rush to be gained from refreshing your portfolio every two minutes, and profitable trades are few and far between, there’s actually time in which to educate yourself. That could involve improving your technical analysis, learning leverage, identifying signs of the inevitable full market reversal, or researching the next moon-bound coins. The work you put in now will pay off 10x over the next time bulls reign supreme.

There’s Time to Accumulate

It’s easy to talk about accumulating crypto, but that’s not so easy when your portfolio’s down 80% and you have nothing else to invest. If you remain a crypto maximialist, however, and are convinced that it’s a case of when, not if, major digital assets such as bitcoin test record highs again, now is the time to act. The building work hasn’t stopped just because the markets have turned red – in fact it’s been ramping up all year, as the infrastructure that will power the next bull run is assembled. Getting a crypto job is one way to stock up on satoshis while they’re going cheap. Spend what you need to survive and keep the rest locked away till alt season – or even just bitcoin season – returns.

Five Benefits to a Bear Market

There’s Time to Develop New Interests

The world of cryptocurrency is a wonderful one, but it can be all-consuming. It’s not healthy to spend your every waking hour glued to a screen – or three screens if you’re a serious trader – powered by a cocktail of nootropics and jolted from infrequent slumber by an alarm every time a target is reached. Don’t give up on crypto, but use the market downturn as an opportunity to step away from the screen and get out of the house. Take up a new sport; go hiking; read more books; enroll in evening classes; pursue that thing you’ve always wanted to pursue.

In the words of Ferris Bueller, “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” Cryptocurrency isn’t going anywhere. When you’re ready to make it your oneitis again, it’ll still be here, right where you left it. While powerless to control the mood of the markets, you have the power to control your own. Spend your time and choose your associates – both on crypto Twitter and in real life – wisely. The investment, educational, and personal decisions you make now, in the darkest depths of this bear market, could be some of the best decisions you will ever make.

What other benefits do you think bear markets bring? Let us know in the comments section below.


Images courtesy of Pixabay and Twitter.


Need to calculate your bitcoin holdings? Check our tools section.

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Markets Update: Bloody Crypto-Markets Suffer More Losses

Markets Update: Bloody Crypto-Markets Suffer More Losses

Leading up until this Tuesday a great majority of cryptocurrency markets have lost considerable value over the past few days. Since our last markets update this past Saturday, the overall cryptocurrency capitalization as a whole has dropped significantly by losing $20 billion USD. All eyes will surely be fixed on digital asset charts this week as there’s been a plague of bearish market sentiment cast over the entire crypto-economy.

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

There’s Blood in the Crypto-Streets

When it comes to cryptocurrency markets today on August 14, there’s an awful lot of ‘blood in the streets.’ During yesterday’s trading sessions, the entire cryptocurrency economy dropped under the sub-$200B zone and today the valuation is hovering around $195-199B. This is due to the extreme losses many digital currencies have suffered through over the past three days. A great majority of coins are seeing losses between 3-25 percent today as many assets have touched their previous bottoms or lower. Overall trade volume this Tuesday has increased, likely because prices are so low right now, and over the last 24-hours around $15.9B cryptocurrencies have been traded.

Markets Update: Bloody Crypto-Markets Suffer More Losses
The top ten digital assets today on August 14, 2018, at 10 am EDT.

Bitcoin core (BTC) has been able to dodge a lot of the downward blows as the currency has lost a lot less percentage wise than most other coins. This has led to BTC dominance or its market capitalization measured in comparison with the entire crypto-economy valuation to spike upwards of over 54 percent. Out of the top ten digital assets, cardano (ADA) has taken the biggest blow and has sunk to the 8th highest position because it lost over 16.8 percent in value over the last 24-hours. The price of ADA has dipped to around $0.09 per coin at the time of publication.

Markets Update: Bloody Crypto-Markets Suffer More Losses
Out of the top ten digital assets, cardano (ADA) has lost the most over the last 48-hours.

This is followed by the second biggest top ten loss with ethereum (ETH) seeing its market value lose 16.1 percent today with one ETH trading for $268. The third largest top ten loss today belongs to EOS as its markets are down 13.7 percent with one EOS trading for $4.44 per coin.

Bitcoin Core Market Action

Bitcoin core markets are down 3.94 percent today, and the cryptocurrency has been fighting to hold above $6,050-$6,175 per coin over the last day. Last night the BTC/USD price dropped to $5,880 coming awfully close to the currency’s assumed bottom at $5,774. Today BTC trade volume over the last day has been fairly decent at $5.5B and the currency’s entire market valuation is about $106B at press time.

Markets Update: Bloody Crypto-Markets Suffer More Losses

The top five exchanges swapping the most BTC includes Bitflyer, Okex, Bitfinex, Binance, and Coinbene. The trading pairs seeing the most swaps today with BTC includes tether (USDT 50.2%), USD (26.5%), JPY (11.3%), EUR (4.7%), KRW (2.4%) and bitcoin cash (BCH 1.88%).

Markets Update: Bloody Crypto-Markets Suffer More Losses
BTC/USD 4-H, August 14, 2018, 10 am EDT Coinbase.

Bitcoin Cash (BCH) Market Action

Bitcoin cash markets have seen a 24-hour loss of around 15 percent today and the currency’s market capitalization is around $8.5B. At the moment bitcoin cash is trying to stay above $490-515 at the time of writing but bulls have been struggling. Last night BCH dipped to a low of $472 on Bitstamp, but trade volume had spiked over $400M+ pushing the price back up after the drop.

Markets Update: Bloody Crypto-Markets Suffer More Losses

The five leading bitcoin cash exchanges today include Coinex, Okex, Binance, Hitbtc, and Bitfinex. The currencies that are currently being traded with bitcoin cash the most includes tether (USDT 49.1%), BTC (27%), USD (13.1%), QC (2.83%), ETH (2.79%), and the KRW (1.88%).

Markets Update: Bloody Crypto-Markets Suffer More Losses
BCH/USD 4-H, August 14, 2018, 10 am EDT Bitfinex.

The Verdict: Volatile Markets and Heavy Losses Increase Uncertainty

Digital asset markets have been wild over the past few weeks and many traders seem uncertain about where the ‘good-ship-crypto’ will go from here. 2017 was an exceptional year and the past seven months of 2018 has been literally the exact opposite as far as cryptocurrency values are concerned. The cryptocurrency economy as a whole has lost considerable value which in turn is brewing deep skepticism towards the future of certain crypto-markets. For now, most traders remain uncertain of where things will go and many are praying they played their positions correctly in hopes they don’t get squeezed. At the moment digital asset prices are starting to see a slight recovery after the significant losses last night. 

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

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Turkish Bitcoin Volume Soars as Traders Flee the Lira

Turkish Bitcoin Volume Soars as Traders Flee the Lira

Trading volume on Turkish cryptocurrency exchanges has soared over the last 24 hours as citizens have sought refuge from the weakened lira. Turkey’s national currency has faced a torrid time on a day when President Recep Tayyip Erdogan accused the US of trying to “stab it in the back”. Trade volume on domestic exchange Btcturk is up 350% in the last 24 hours, with BTC capturing 38% of the action.

Also read: Crypto Cafe and Coworking Space ‘Hash House’ Established in Xi’an, China

Turks Seek a Haven from the Crumbling Lira

The Turkish lira (TRY) plunged to record lows against the US dollar today as tensions between the stricken nation and western counterparts ramped up. The embattled President Erdogan sees Turkey’s financial straits as a US-led plot to cripple the country, as opposed to the consequences of an imprudent economic policy that’s lead to rising inflation and spiraling debt accrued in foreign currency, exacerbated by borrowing to fund a construction boom.

Turkish Bitcoin Volume Soars as Traders Flee the Lira
The Turkish lira hit new lows against the US dollar today

While Turkey’s interior ministry has been threatening to take legal action against almost 350 social media accounts deemed to have made “provocative” comments against the lira, cryptocurrency holders have been busy exchanging their TRY for BTC, XRP, and ETH. After bitcoin core and the dollar-pegged tether (USDT), ripple and ether formed the leading trading pairs at Btcturk over the last 24 hours; the site also offers LTC.

Turkish Lira is the Third Worst Performing Fiat Currency This Year

Only the Venezuelan bolivar and Sudanese pound have performed worse than the Turkish lira, which is down 45% this year. While BTC has lost close to 54% this year, it’s looked a veritable fortress of strength against TRY of late, and with limited options for swapping their lira into a more stable currency, Turkish citizens have flocked to bitcoin. In addition to Btcturk, which has exchanged close to $14 million of BTC in the last 24 hours, regional exchanges Paribu, Koinim, and Koineks have witnessed a major increase in volume this week, as has Localbitcoins.com.

Turkish Bitcoin Volume Soars as Traders Flee the Lira
Trade volume (in USD) on Btcturk this week

Amidst rumors of Turkish banks ending support for customer accounts holding USD, and President Erdogan desperate to quell the flight to the currency whose issuing nation he blames for the lira’s plight, citizens are left with few places to turn. (Tether is the closest most Turkish traders can get to the US dollar right now.) While predictions of ‘hyperbitcoinization’ in Turkey may be premature, it is evident that cryptocurrencies such as BTC are proving a lifeline in nations whose fiat currency is devaluing by the day.

Do you think the Turkish lira can recover or will the flight to cryptocurrency increase? Let us know in the comments section below.


Images courtesy of Shutterstock, Xe.com, and Coingecko.


Need to calculate your bitcoin holdings? Check our tools section.

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Markets Update: Crypto Prices Consolidate After Some Volatility

Markets Update: Crypto Prices Consolidate After Some Volatility

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

Also Read: Wormhole Mainnet and Developers’ Guide Launched

Saturday Trading Sessions Show Some Market Rebounds

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

Bitcoin Core (BTC) Market Action

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

Markets Update: Crypto Prices Consolidate After Some Volatility

BTC/USD Technical Indicators

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

Markets Update: Crypto Prices Consolidate After Some Volatility

Bitcoin Cash (BCH) Market Action  

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

Markets Update: Crypto Prices Consolidate After Some Volatility

BCH/USD Technical Indicators

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

Markets Update: Crypto Prices Consolidate After Some Volatility

The Verdict: Short-Term Uncertainty and Indecisive Markets

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

Markets Update: Crypto Prices Consolidate After Some Volatility

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

 

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

Markets Update: Crypto-Prices Slide After SEC Announcement

Markets Update: Crypto-Prices Slide After SEC Announcement

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

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

After the SEC Announcement Cryptocurrency Prices Slide Significantly  

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

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

Bitcoin Core (BTC) Market Action

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

Markets Update: Crypto-Prices Slide After SEC Announcement

BTC/USD Technical Indicators

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

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

Bitcoin Cash (BCH) Market Action

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

Markets Update: Crypto-Prices Slide After SEC Announcement

BCH/USD Technical Indicators

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

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

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

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

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

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

 

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

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

One of the largest cryptocurrency exchanges in India, Zebpay, has enabled Trueusd (TUSD) trading, deposits and withdrawals. The dollar-pegged stablecoin is offered as an alternative to fiat trading which is problematic under the Indian central bank’s ban.

Also Read: The Daily: New Education Centers, Vietnamese Ask for Fraudster’s Extradition

Zebpay Enables Trueusd

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin TradingMumbai-headquartered cryptocurrency exchange Zebpay has announced the addition of Trueusd (TUSD) trading, deposits and withdrawals going live, starting today, August 6, 2018. Trueusd is part of the recent torrent of so-called stablecoins to have hit the market as fears around the performance of Tether (USDT) refuse to die down.

According to its promoters, each TUSD can be redeemed 1-for-1 for US dollars. Trust Token is said to partner with registered banks and fiduciaries to securely hold the funds backing the tokens. And for increased security, the banks and fiduciaries handle all funds directly. Moreover, the Trueusd system supposedly does not handle or even have access to the escrowed funds. Any institution or individual with a verified True Coin account that passes a KYC/AML check can redeem TUSD for USD.

INR-Crypto Trading Alternative

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin TradingIndian exchanges have been looking for creative ways to stay in business ever since the country’s central bank, The Reserve Bank of India, enforced a ban on all financial institutions under its control from providing services to companies dealing in cryptocurrencies. They have been doing this mainly by stopping fiat support and ramping up peer-to-peer and crypto-to-crypto trading. Zebpay itself launched crypto-to-crypto trading pairs back in April.

Explaining the situation to their clients, the team stated: “We are amidst the phase where our industry in India is facing an unprecedented situation. The recent events led to pausing the INR transactions. Traders across India are curious to find an alternative to INR-crypto trading. At Zebpay, we are working to resolve any trading limitations. As one of the best possible solution, we welcome TUSD as an INR alternative on Zebpay exchange. Being a stable coin, Trueusd is secure to invest and trade in the cryptocurrency market.”

Are stablecoins a suitable replacement for fiat trading, deposits and withdrawals? Share your thoughts in the comments section below.


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P2P Markets Report: Selling Drives Upswing in Emerging Markets’ Volume

P2P Markets Report: Selling Drives Upswing in Emerging Markets' P2P Volume

The recent selling pressure experienced by BTC has driven a surge in the peer-to-peer trade volume for numerous emerging cryptocurrency markets. The Localbitcoins markets for the Philippines, Iran, and Kazakhstan have all seen a significant upswing in the number of bitcoins traded in recent weeks.

Also Read: Blockchain States Lure Citizens with Political Nostalgia and Voting Rights

Philippine P2P Markets Witness Spike in Trade Volume

P2P Markets Report: Selling Drives Upswing in Emerging Markets' VolumeThe week of the 28th of July posted the second highest weekly volume for trade between BTC and the Philippine Peso (PHP) on Localbitcoins for 2018, according to Coin.dance.

This past week saw 39 BTC trade hands via the Philippines’ Localbitcoins markets – comprising the highest of number of BTC traded since the week of the 24th of February, 2018 – during which 40 BTC exchanged hands. The volume for the week of the 28th of July saw a 30% increase in the number of BTC traded week-over-week – up from 30 BTC during the week of the 21st of July.

P2P Markets Report: Selling Drives Upswing in Emerging Markets' Volume

When measuring volume in fiat currency, this past week produced the second strongest volume of 2018 and the fourth highest weekly trade volume in the history of the Philippine Localbitcoins markets – with approximately 16.9 million PHP worth of trade taking place during the week of the 28th of July.

P2P Markets Report: Selling Drives Upswing in Emerging Markets' Volume

Iranian Localbitcoins Trade Surges

The Iranian Localbitcoins markets posted the strongest volume since the week of the 2nd of June, with 25 BTC exchanging hands via the platform this past week.

P2P Markets Report: Selling Drives Upswing in Emerging Markets' Volume

When measuring in Iranian Rial (IRR), the week of the 28th of July saw the second strongest weekly trade volume since February, with over 19.6 million IRR worth of BTC changing hands this past week.

P2P Markets Report: Selling Drives Upswing in Emerging Markets' Volume

Kazakhstan Experiences Upswing in P2P Trade Activity

The P2P BTC markets for Kazakhstan has also seen the strongest trade volume in roughly a month this past week, with 9 BTC trading hands.

P2P Markets Report: Selling Drives Upswing in Emerging Markets' Volume

When measuring in Kazakhstani Tenge (KZT), this past week saw the second strongest trade volume between KZT and BTC since February, with over 24 million KZT worth of trade taking place.

P2P Markets Report: Selling Drives Upswing in Emerging Markets' Volume

Do you think that the trade volume for emerging P2P cryptocurrency markets will continue to rally? Share your thoughts in the comments section below!


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Markets Update: Bears Claw Billions Off Digital Currency Valuations

Markets Update: Bears Claw Billions Off Digital Currency Valuations

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

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

Cryptocurrencies Fall in Value Once Again This Weekend

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

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

Bitcoin Core (BTC) Market Action

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

BTC/USD Technical Indicators

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

Bitcoin Cash (BCH) Market Action

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

BCH/USD Technical Indicators

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

The Verdict: Skepticism and Doubt Remains

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

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

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


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Report: Mood About Crypto Markets Changes Two Months After Trends

Report: Mood About Crypto Markets Changes Two Months After Trends

It takes about two months for the public sentiment to adjust to new trends in the cryptocurrency markets. That’s according to a recently published report whose authors have examined the changes in the opinions of thousands of active followers of crypto markets over a period of nine months. They found that the collective mood can be bullish long after a downward trend has started.

 Also read: Boerse Stuttgart to Host Crypto Trading and Coin Offerings

Optimistic Mood Persists Despite Decline in Prices

Report: Mood About Crypto Markets Changes Two Months After TrendsInvestors, traders and market watchers need two months to adjust to new long-term trends in the cryptocurrency markets, a study conducted by the fintech company Cindicator has revealed. For example, one of the key findings is that in January and February of this year the collective mood was still bullish and most participants were forecasting growth, despite a clear downward trend. Sentiments changed in March after the total capitalization had already fallen below $300 billion during the previous month.

The “Collective Crypto Mood Swings” report is based on data from over 111,000 users of Cindicator’s mobile and web applications that allow them to make daily forecasts about a range of digital and traditional assets. They are asked almost 200 questions every month about the likelihood of certain events and are granted points for correct predictions but lose points in case of incorrect answers. At the end of each month, the “analysts” are rewarded in ETH if they have earned at least 1 point. The survey covers the nine-month period between September 2017 and May 2018.

The company also claims that 5,000 traders and investors are using indicators created by combining collective forecasts based on the opinions of these subscribers who come from more than 135 countries and are active followers of crypto markets from different age groups and backgrounds. Their inputs are enhanced by AI using machine learning algorithms and a neural network to produce predictions with high accuracy.

Report: Mood About Crypto Markets Changes Two Months After Trends

According to the authors, the expectations regarding crypto markets change similarly to those about other asset classes. It took investors 60 to 100 days on average to adapt to a new long-term trend in the markets of the different assets they were asked about. The researchers also found that the higher volatility leads to greater mood swings. They’ve provided an example with ethereum, noting the strongly polarized public view of the cryptocurrency in March when the price of ETH in US dollars dropped by more than 50%.

Bullish on BTC and ETH Months After the Peak

Cindicator reports that in the studied period the median opinions remained positive for both bitcoin core (BTC) and ethereum (ETH). More fluctuations were registered in the case of ethereum, while the median mood for bitcoin core remained consistent, despite the significant market ups and downs between September and May.

Report: Mood About Crypto Markets Changes Two Months After Trends

The analysis of the forecasts shows that the public was highly optimistic about the future of bitcoin (BTC) for two months after the leading cryptocurrency reached its peak of almost $20,000 in December, 2017. Then the distribution of opinions became more balanced in March, long after the four-month decline had started.

The situation with ethereum looks pretty similar. The polled subscribers were highly optimistic in February after the USD price of ETH peaked at $1,400 in January. In both cases, opinions were most positive during the months with the highest volatility: December, January and February. According to the report, this is likely due to expectations of mean reversion after the big drops.

Report: Mood About Crypto Markets Changes Two Months After Trends
Changes in opinions and prices.

The data for May, the last month covered in the study, shows that optimism for ethereum had returned to the levels recorded in February, while the mood about bitcoin core remained subtle as the price of BTC dropped to the low $7,000s. Ether markets were again volatile while the volatility of the bitcoin core markets dropped to its lowest level since September. Cindicator analysts have interpreted that as an indication of the new perceived norm – the range between $7,000 and $8,000.

What are your expectations about the future of crypto markets? Tell us in the comments section below.


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Markets Update: Monster Liquidations and Flash Crash Fear

Markets Update: Monster Liquidations and Flash Crash Fear

For more than six months of 2018, cryptocurrency markets have been extremely bearish considering the massive bull run in 2017. Last month many digital asset prices performed better than they had in months and some enthusiasts thought crypto markets might be on the mend. However, bitcoin markets and many other cryptocurrency values have started to slide and some traders and analysts believe the storm may get much worse.

Also Read: The Bitcoin Cash Network Processed 687,000 Transactions on August 1st

Watch Out  Cryptocurrency Prices Can Invalidate Your Trading Position In a Matter of Minutes

Cryptocurrency bears, love them or hate them, exist in great magnitude this year, for as everyone knows, digital assets have been in a slump. Many cryptocurrencies seemingly have hit the ‘bottom’ at least three times so far, but that may not hold true for very long. A market bottom is what’s considered the lowest the price of a cryptocurrency will go for a period of time until markets rise in value again. For instance, BTC/USD prices touched a high of $19,600 per coin last December and since then BTC values have dipped to roughly $5,700 per BTC a few times. This has led some people to believe that the $5,700 region is the bottom, at least for now, unless things go southbound during a flash crash. Many respected cryptocurrency traders have different types of views when it comes to what will happen next in the land of digital currency markets.  

One respected digital asset trader called Mr. Jozza details that right now bitcoin markets are not looking very nice. “The bitcoin market is ugly,” Mr. Jozza emphasizes. “It completely invalidated my previous bullish interpretation. No follow through on break up of a bearish trend.”

While Okcoin 415 mm contract liquidation sits on the books, expecting $7200 test for support.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by Mr. Jozza on August 2, 2018.

Are High-Frequency Trading Firms Joining the Party?

Another respected trader and administrator of the large Telegram trading chat room Whale Club, BTCVIX, says High-Frequency Trading (HFT) firms are trading bitcoin.

“Hey crypto trading noobs — this pattern look familiar? The Judas candle — yeah BTC moves more and more like forex every day — you have the same forex HFT firms joining the BTC party,” BTCVIX details on August 2.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by BTCVIX on August 2, 2018.

The Greatest Danger in Crypto: Flash Crashes

Because of the volatile movements over the last few days, digital asset margin traders on exchanges like Okex and Bitmex have literally been getting ‘rekt.’ Three days ago on July 31, the exchange Okex liquidated more than $400 million USD worth of Bitcoin futures contracts from just one customer. Two days later the well-known cryptocurrency trader Philakone explained to his 100,000 Twitter followers that people should be careful of ‘flash crashes’ in crypto markets, especially when trading with leverage.

“Here are my positions — I’ve set aside another $200K now in my margin that I can play just in case something violent like a flash crash happens — Always be mindful of that,” Philakone emphasizes.

Always remember the greatest danger in crypto: Flash crashes. If you forget about this, it’s not good. It could happen only ONE time for you to destroy your crypto career. I’ve been there. Be careful baby whales.

On August 1 the respected cryptocurrency analyst Willy Woo explained to his Twitter followers that he thinks BTC will “flash dump, then moon” during a global banking crisis. People believe the analyst because Woo has predicted cryptocurrency variances correctly a few times in the past.

Markets Update: Monster Liquidations and Flash Crash Fear“Interesting to see most think BTC will moon,” Woo details. “I think BTC will flash dump, then moon afterward, just like with Gold in WFC 2008.”

Flight to safety: everything else sells off to USD, then used to unwind leveraged positions, then afterward havens like Gold and BTC have a bull run.

“Probably also contingent on how many institutional players are in the BTC market over that period. Normal retail HODLers won’t tend to have large leveraged positions to unwind from, apart from maybe mortgages,” Woo notes.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by Willy Woo on July 27, 2018. 

The Last Dead Cat Bounce? Short Positions Begin to Pile Up Before the Weekend Trading Sessions

Currently, most cryptocurrency markets are still in the red seeing losses over the last 24 hours. Bitcoin core (BTC) has been trading between $7,250-7,520 over the last day, while bitcoin cash (BCH) is swapping for $660-740 per coin. Both markets have seen consistent drops in trade volume (BCH $375M, BTC $4.4B), and billions shaved off their market capitalizations. Many leverage traders lost their shirts over the last three days due to margin liquidations, as there were some very quick drops in value this week. As we approach the weekend short contracts are already starting to pile up on Bitfinex, Kraken, and Bitmex once again.

Markets Update: Monster Liquidations and Flash Crash Fear

The last few weeks of gains gave traders a breath of fresh air, but the bullish sentiment didn’t last long. Unlike the slew of Wall Street bigwigs that believe bitcoin will touch $50K or zero by the year’s end, there are many traders out there who are more in touch with reality and telling people they should trade carefully.

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

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


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Markets Report: July Posts Second Strongest Monthly BTC Performance of 2018

Markets Report: July Posts Second Strongest Monthly BTC Performance for 2018

Looking at the monthly charts, July saw BTC produce its second best performing month of price action during 2018 after gaining in value by more than 20%. By contrast, the majority of leading cryptocurrency markets by capitalization posted their third consecutive red monthly candle. Stellar was the highest performing top crypto market during July, gaining roughly 45% over USD.

Also Read: Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish 

BTC Gains 20% During July

In July, the BTC markets posted their second strongest performing month for 2018 so far. BTC gained approximately 21%, rallying from an opening price of roughly $6,400 USD at the start of the month to close at $7,730.

July saw a price action range of approximately 40%, bouncing from a low of roughly $6,100 on the 12th before posting a local top at $8,500 on the 24th. Despite the bullish price action, July’s monthly trade volume was the second lowest of 2018 thus far.

As of this writing, BTC has a market capitalization of $130.5 billion and is trading for approximately $7,610.

BCH Posts Modest Gains

The Bitcoin Cash markets produced a modest green candle for the month of July, gaining approximately 3.5% from roughly $750 at the start of the month before closing at around $775.

Despite the modest gain, BCH traded within a 35% range, with Bitcoin Cash testing support at roughly $660 on the 12th of July before ramping up to test resistance at $890 on the 18th. When measuring against BTC, BCH lost approximately 17%, with BCH/BTC starting the month at roughly 0.117 BTC before closing at 0.1 BTC.

As of this writing, Bitcoin Cash has the fourth largest market capitalization with nearly $13.2 billion and is trading for roughly $760.

Many Leading Altcoins Post Third Consecutive Monthly Red Candle Against USD

Ethereum posted its third consecutive red monthly candle for July after dropping by 5% from an opening price of roughly $455 to close at around $430. ETH traded within an approximately 19% range, with ETH/USD posting a low of $420 on the 12th of July before ramping up to test resistance at $515 on the 18th. The trade volume for ETH/USD during July was the lowest monthly volume posted this year thus far.

Ethereum also lost 22% of its value when measured against BTC in July, falling from an opening price of 0.071 BTC to close at roughly 0.055 BTC. Ethereum currently boasts the second largest cryptocurrency market cap of almost $43 billion and is trading for roughly $420.

The USD price of XRP fell for the third month in a row, by 7% from July’s opening price of $0.468 to close at $0.435. XRP traded within a roughly 19% range for the month, bouncing off a low of $0.425 on the 12th of July before rallying to test resistance at $0.525 on the 18th.

When measuring against BTC, XRP fell by roughly 23% from the month’s opening price of 0.0000732 BTC to close at 0.0000562 BTC. Monthly trading volume for both BTC and USD XRP pairing was the lowest of 2018 so far. XRP is currently the third largest market cap with $17.7 billion and is trading for $0.45.

EOS also posted its 3rd consecutive red monthly candle after falling by roughly 10% during July from an opening price of $8.11 to close at roughly $7.3. EOS traded within a 30% range after testing a low of $6.6 on the 12th before rallying to test resistance at $9.35 on the 18th of July.

When measuring against BTC, EOS fell by 25.5% from the month’s opening price of 0.001275 before closing at roughly 0.0095. EOS is currently the fifth largest market by capitalization with $6.6 billion and is trading for $7.33.

Stellar Gains 45% During July

Of the top cryptocurrency markets by capitalization, Stellar produced the strongest performance during July.

The Stellar markets gained roughly 45% from the month’s opening price of roughly $0.1935 before closing at $0.28. The total range for the month’s price action was more than 95%, with Stellar bouncing off $0.18 on the 12th of July before testing $0.35 on the 25th of July.

Stellar was the only leading altcoin to gain over BTC during July, gaining nearly 20% from 0.00003 BTC before losing at roughly 0.000036.

Poloniex – STR/BTC – 1M

The month’s bullish action has propelled Stellar to the position of sixth largest market capitalization with $5.17 billion. Stellar is trading for approximately $0.27 as of this writing.

Do you think that altcoins will continue to bleed out against BTC this coming month? Share your outlook in the comments section below!


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Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish

Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish

On Tuesday, July 31 a great majority of cryptocurrency prices dropped in value with many coins losing anywhere between 3-10 percent during the last 24-hours. Currently, with the sudden cryptocurrency market turbulence, bears have taken control of the exhausted bulls. In one intra-day of trading, the entire cryptocurrency market capitalization of all 1,600+ coins ($270Bn USD) has lost roughly $25Bn in value.

Also Read: Bitcoin Cash Fans Celebrate Independence Day One Year Later

Digital Asset Prices Turn Bearish as the Entire Cryptocurrency Economy Loses $25 Billion USD

Markets Update: Cryptocurrency Price Trends Turn from Bullish to BearishBearish sentiment is starting to haunt cryptocurrency markets once again as many digital assets saw prices tumble today. Bitcoin Core (BTC) prices dropped to a low of $7,503 on July 31 as the currency’s trade volume had started to drift a bit lower after the price hovered around $8,125 the day prior. A large portion of other cryptocurrency markets followed suit with BTC as the top ten virtual currencies are seeing losses across the board of course except for tether (USDT).

Ethereum (ETH) continues to hold the second highest market valuation with a market capitalization that’s around $42.28Bn. One ETH is being traded for $418 and the market is down 7.6 percent today. ETH markets are followed by ripple (XRP) which is down 2.8 percent over the last 24-hours as one XRP is trading for $0.42 cents. Lastly, the fifth highest market capitalization held by EOS is also down 6.6 percent and the currency is trading at $7.13 per coin.

Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish

Bitcoin Cash Market Action

This Tuesday bitcoin cash (BCH) markets are seeing losses as well as BCH is down 8 percent over the last 24-hours. Bitcoin cash markets are also down 13.2 percent for the last seven days. One BCH is trading for $741, and the decentralized cryptocurrency has a market valuation of around $12.8Bn. The last 24 hours show BCH trade volumes are around $432Mn at the time of publication. The top exchanges swapping the most BCH today include Coinex ($106.53Mn), Huobi Pro ($69.38Mn), Okex ($64.81Mn), Binance ($46.80Mn) and Hitbtc ($34.79Mn).

Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish

The top currency traded with BCH on July 31 is tether (USDT) with 55.2 percent of swaps. This is followed by BTC (28.5%), USD (7.6%), QC (2.8), ETH (2.4%) and the KRW (1.2%). Bitcoin cash holds the fifth highest volume over the past 24-hours among all 1,600+ other cryptocurrencies.

Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish

BCH/USD Technical Indicators

Looking at the daily and 4-hour charts on Bitfinex and Bitstamp shows bears have grabbed the reins and still have a good portion of control. RSI levels are screaming oversold conditions (33), while the MACd has swooped down to -85. The SMA 100 is far higher now above the longer-term 200 SMA trendline which means BCH bulls may lose a bit more grip over the short term. Many traders can see looking at charts that the price was rolling sideways for close to three days and many were convinced of a bull flag after the inverse head & shoulders. But just before the dip sell orders on popular exchanges worldwide began stacking up. Looking at order books from the current vantage point BCH bulls have some high walls up until $775 but if they can manage to break that resistance we could return to previous levels. On the back side there’s solid support between now and $710 but unfortunately, books are thinner until $650.

Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish   The Verdict: Flat Volumes and Bearish Sentiment Brings Market Skepticism

Overall skeptics and bearish cheerleaders are hoping for some stronger dips and they just may get them. Volumes across the board for many cryptocurrencies has been getting flatter as each day passes. Traders and enthusiasts are now unsure the upcoming ETF decision will pull prices up until then for two reasons: One the Winklevoss Twins fund was denied again, putting a black cloud over positive vibes toward the Cboe ETF, and secondly everyone is unsure exactly when the Securities and Exchange Commission (SEC) will make their ultimate decision. This week the current market sentiment, and our price verdict, point to far more skepticism and shade towards bullish prices returning soon.

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

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


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July 2018 Volume Rankings Report: BTC Extends Dominance

July 2018 Volume Rankings Report: BTC Extends Dominance

During July, the majority of leading cryptocurrency markets have produced stagnant or declining volume month-over-month. BTC, USDT, and DASH were the sole top ten markets able to buck the trend, with BTC’s trade volume notably increasing by 4.6%.

Also Read: Mining Round-Up: Sky Mining CEO Flees with $35 Million, Texas Attracts Miners

BTC Extends Lead Relative to Other Top Markets

July 2018 Volume Rankings Report: BTC Extends DominanceAs of this writing, more than $131 billion USD worth of trade has reportedly taken place on the BTC markets in the last 30 days. The trading activity has seen BTC extend its lead as the dominant cryptocurrency, with the combined trading volume of the other top ten most traded cryptocurrencies excluding USDT equating to roughly $121 billion.

The 30-day trade volume for the BTC markets has increased by 4.6% over June’s $125.5 billion. However, it is significantly lower than the $185 billion in trade recorded during May.

July also saw BTC extend its dominance by market capitalization – which grew from approximately 42.75% at the start of the month, to 47.5% as of this writing.

USDT Sees Highest Percentage Increase in Monthly Trade Volume for July

July 2018 Volume Rankings Report: BTC Extends DominanceOf the top traded cryptocurrencies for July, USDT showed the largest percentage increase in trade volume, gaining 11% over June’s $77 billion to post $85.5 worth of trades during the last 30 days.

ETH has held its position as the third most traded cryptocurrency token, producing roughly $53 in trade during July – which comprises a nearly one billion drop from June.

EOS has maintained its position as the fourth most traded cryptocurrency, however, also suffered the largest percentage drop in 30-day volume. EOS’ trade volume fell from $32 billion, posting a monthly volume of $20.4 billion – a 36% drop in total trading activity.

BCH Volume Grows Slightly

July 2018 Volume Rankings Report: BTC Extends DominanceBitcoin Cash trade volume increased slightly this month, gaining from $14.7 billion in June to $14.85 billion. BCH has continued to hold as the fifth most traded cryptocurrency markets.

Litecoin has held its position as the sixth most traded cryptocurrency for the second consecutive month, after having gained two positions during June. 30-day trade volume for LTC decreased by 7.8%, falling from $9.3 billion in June to $8.57 billion.

The seventh most traded cryptocurrency, XRP, also experienced a notable drop in volume – which fell by nearly 17% from $8.3 billion last month to $6.9 bn in the last 30 days.

Dash Breaks Into Top Ten Most Traded Cryptocurrencies

July 2018 Volume Rankings Report: BTC Extends DominanceFor the second consecutive month, 30-day volume for Ethereum Classic increased by $100 million month-over-month. ETC is the eighth most traded cryptocurrency with a monthly volume of $6.7 billion.

Tron has held onto the position of ninth most traded cryptocurrency after suffering a significant drop in volume between May and June. TRX posted $5.45 billion in trade for July, comprising a 9% drop from last month’s $6 billion.

DASH pushed into the top ten most traded cryptocurrencies during July, posting $5 billion in 30-day trade volume. DASH beat out QTUM – which despite gaining over 25% in volume month-over-month, sits at eleventh for July with $4.4 billion in trade volume.

12th to 20th Most Traded Cryptocurrencies Tightly Contested

July 2018 Volume Rankings Report: BTC Extends DominanceNEO ranked twelfth for July with nearly $3.4 billion in 30-day trade volume. ADA ranked thirteenth with almost $3.1 billion. CKUSD followed closely with $2.9 billion.

XLM ranked 15th with 2.3 billion in 30-day trade volume, followed by fellow Coinbase prospect ZEC with 2.15 billion. BTM ranked seventeenth with $2.1 billion, followed by MITH with roughly $2 billion, TRUE with $1.8 billion, and ONT with $1.66 billion.

Do you think BTC will continue to extend its dominance in trade volume relative to other cryptocurrencies in coming months? Share your thoughts in the comments section below!


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Market Caps for Privacy-Centric Currencies Have Dropped Significantly

Market Caps for Privacy-Centric Currencies Have Dropped Significantly

Over the past few years, a few privacy-centric cryptocurrencies have gained both in popularity and value. Many of these coins like monero, dash, pivx, zcash, and more were at one time top ten digital asset contenders as far as market valuation is concerned. Now even though a few of these specific digital assets have dropped out of the top ten capitalizations, some of them are not too far behind the highest valued coins, but a great majority of them have significantly lower market caps. 

Also Read: Markets Update: Crypto-Prices See Some Recovery After the Dip

It’s been close to a decade since the birth of the original Bitcoin protocol and there have been over 1600 cryptocurrencies with all types of features launched since then. One specific digital asset feature that’s always been popular among cryptocurrency fans is anonymity. Most people know bitcoin transactions are not anonymous unless a mixing application is used, and even that type of tool is not 100 percent as the method obfuscates transactions at best. Because of this issue, a myriad of privacy-centric cryptocurrencies have been introduced over the years and many of them held top ten positions among the most valued digital assets but all of them have been bumped off the list. Quite a few of the most popular privacy-focused coins have lost considerable value since last December and a few of these tokens are also approaching some new changes and protocol upgrades.

Where Are They Now?

Monero (XMR)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyMonero (XMR) is a privacy-focused cryptocurrency that claims to offer untraceable payments, unlinkable transactions, blockchain analysis resistance, and adaptive parameters. The cryptocurrency is different than most digital assets because it’s not based on the original Bitcoin protocol and its consensus is based on the Cryptonight protocol. Since Monero was launched in 2014, the currency has done well as far as market value is concerned. For instance, the first week of trading saw XMR prices reach .99 cents to $2 per coin and over the past couple years XMR has gained around 6,900 percent since launch.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Monero markets all-time.

However, this December monero touched a high of $390 per XMR and so far in 2018, with current spot prices on July 28, the coin has lost -64.10 percent of value. More recently, the XMR community found out that XMR was mineable by ASIC hardware and decided to hard fork the protocol which resulted in four different monero forks. Monero is in the midst of planning to add compatibility with a privacy method called Bulletproofs and the XMR development team has announced the first Bulletproofs audit (by Kudelski Security) was successful. Monero is currently priced at $140 per XMR and the cryptocurrency holds the 12th largest market cap position.

Dash (DASH)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyAnother coin that offers privacy sending features and enjoyed a long stay in the top ten is the cryptocurrency dash (formally known as darkcoin). Back in 2014, the cryptocurrency was trading for $1.25 -1.50 per DASH and at today’s current prices the digital asset is up 16,100 percent in value which is a pretty extraordinary feat. Although, people who didn’t get in real early on dash and bought the 2017 high have seen a loss of -83.8 percent during dash’s ATH of $1,500 per coin on December 21.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Dash markets all-time.

People like dash for a few reasons which include its private send feature which uses the protocol’s masternode program to mix coins and obfuscate transactions. The masternode protocol is a favorite among dash proponents as it allows nodes to earn revenue and it’s also used with the dash governance voting system. Recently, on the dash-focused Three Amigos Podcast, it was revealed that the financial institution Fidelity owns a 15 percent stake in Neptune Dash which is a firm that offers chunks of masternode ownership. People also dislike dash for a few reasons like how it’s always been haunted by the instamine rumors back when the currency launched. Some people accuse dash of being a planned instamine, but the developers have addressed the topic many times denying the allegations. Many dash supporters believe the its features and the community’s marketing have bolstered the coin. Dash is now four spots behind the top ten cryptocurrency capitalizations sitting in the 14th position.

Zcash (ZEC)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyAnother privacy-centric coin that has seen a lot of market action since it was launched is zcash (ZEC). In fact, ZEC markets have been pretty wild since it was introduced because if you invested in the currency during the first week of launch you might be seeing a big loss. During the first day of trading ZEC prices were around $2,044 per coin, $574 the next day, then a day later it was $1,624 a ZEC. In a few rare instances, some exchanges hit $12K per ZEC the first day. In order to make transactions private Zcash users send ‘shielded’ transactions which are protected by zero-knowledge cryptography. The zero-knowledge methods the ZEC protocol utilizes are called zk-SNARKs and zcash users can also send open and public transactions as well. However many skeptics believe the minting ceremony process of zero-knowledge proof coins (trusted setup) is not 100 percent foolproof.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Zcash markets all-time.

The ZEC protocol has some changes taking place on October 28, 2018, as the cryptocurrency will be upgrading to what’s called ‘Sapling.’ According to the developers, the upgrade will add increased efficiency to shielded addresses and transactions. As mentioned above, ZEC markets have fluctuated intensely since it was launched last October, and during the second week of December, it was roughly $500-675 per coin. Today, on July 28, ZEC is worth $220 per ZEC and investors who bought in December 2017 have lost -56 to -67.40 percent. Moreover, if you purchased during the first week you could have lost -89 to -80 percent.

PIVX (PIVX)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyThe cryptocurrency PIVX (Private Instant Verified Transaction) is a privacy-centric Proof-of-Stake (PoS) coin that derives its codebase from the bitcoin protocol 0.10 and dash. The PIVX system also uses a masternode mechanism and the developers claim to have recently introduced Zerocoin (zero-knowledge proofs) technology. If an individual bought PIVX during the first week of launch, the person would have gained 230,900 percent. However, if the person purchased PIVX on January 10, 2018, they would have lost -83.38 percent today. PIVX is not very close to the top ten positions at all, as the currency holds the 80th position amongst the top valued coins within the crypto-economy. Furthermore, the PIVX community has a long history of feuding with the dash community which is likely due to the project’s similarities.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
PIVX markets all-time.

A Bunch of Different Cryptocurrencies Aim to Provide Anonymity — But As Far As Market Performance is Concerned, Many of these Coins Have Significantly Lower Valuations Than the Top Ten Cryptos   

These four coins have all been top contenders within the cryptocurrency space and there are many other cryptocurrencies that have aimed to offer anonymity. Other cryptocurrencies that have done well within trading markets at one time and offer privacy-centric solutions include Zencash, Bitcoin Private, Komodo, Spectrecoin, Bitcoin Dark, Verge, Navcoin, Boolberry, Zcoin, Deeponion, and more. All of the methods these coins use consist of three similar ideas like zero-knowledge proofs, ring signatures, and masternode mixing services.

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyNow, most of these cryptocurrencies have some value but a great majority, minus the few mentioned above, are not very close to the top ten crypto-market valuations. The highest valued privacy coins that are somewhat close to the top ten positions include monero, dash, zcash, and verge. That’s only four digital assets, and the rest anon-coin’s market valuations are below the 40th position and don’t seem to be making it to the top-ten lineup anytime soon.

What do you think about privacy coins and how they have performed over the past year? Do you expect any of these cryptocurrencies to make it into the top ten highest valued digital assets? Let us know your thoughts in the comment section below. 


Images via Shutterstock, Pixabay, and the various logos for each coin. 


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Markets Update: Crypto-Prices See Some Recovery After the Dip

Markets Update: Crypto-Prices See Some Recovery After the Dip

Digital assets, this weekend, have recovered a touch after a temporary price dip that started roughly 48 hours ago but crypto-values have rebounded once again on July 27. This Saturday, all 1600+ digital currencies are seeing slight gains as the entire cryptocurrency market capitalization at the start of the weekend is around $297.9Bn USD, with over $32.2Bn worth of cryptos swapped in the last 24 hours.

Also Read: Crowd Psychology Driving BTC Prices, Finance Experts Say 

Cryptos See Some Slight Recovery This Weekend

A great majority of digital assets today are in the green seeing gains between 2-10 percent during the last 24 hours of trading sessions. Prices first took a big drop after the US Securities and Exchange Commission (SEC) had denied the Winklevoss twins exchange-traded fund (ETF) which may have put a black cloud over the community’s optimism concerning the upcoming Cboe ETF decision. After the ETF was denied, the price of bitcoin core (BTC) dropped from a rough average of $8,200 per BTC to a low of $7,798. However, not too long after that BTC prices jumped back up $400 to the $8,200 zone again. Most of the other digital currencies within the crypto-economy have been correlated with BTC and had followed the rebound back as most are nurturing losses today.

Bitcoin Core (BTC) Market Action

At the time of publication, the price of bitcoin core (BTC) is averaging around $8140- 8200 per coin. BTC has swapped over $6.2Bn today in global trade volume and the currency’s market valuation is around $140Bn this Saturday. The top BTC exchanges include Bitflyer ($2.02 Bn), Binance ($270.07 Mn), Bitfinex ($229.94 Mn), EXX ($212.66 Mn), and Coinbene ($169.53 Mn). The Japanese yen continues to be the dominant currency pair (49.5%) traded with BTC which is followed by tether (USDT 32.2%), USD (12.5%), EUR (1.64%), and the KRW (1.5%). BTC dominance is the highest it has been in months as the digital asset’s capitalization is 47.3 percent amongst all 1600+ market valuations. On the peer-to-peer platform, Shapeshift this Saturday shows the top swap is ethereum (ETH) for bitcoin core (BTC).   

Markets Update: Crypto-Prices See Some Recovery After the Dip

BTC/USD Technical Indicators

BTC/USD charts today on Coinbase and Bitstamp are showing some consolidated action taking place as bulls seem to be recharging. A few days ago, the BTC/USD charts’ relative strength index (RSI) signaled a bearish divergence which drowned out the bulls with buyers wanting cheaper prices. Today the RSI is lower (52) and BTC bulls could muster up some strength to surpass current resistance levels. The SMA 200 is above the short-term SMA 100 on the 4-hour chart which indicates the path to least resistance is towards the downside. MACd is meandering in the middle (27.89) and shows room for improvement in the next few hours. Order books looking northbound show deep resistance from now up until $8,660 and observations from the Average Directional Index (ADX) shows this move is possible. On the back side, there is plenty of foundational support between $8K through $7,400.

Markets Update: Crypto-Prices See Some Recovery After the Dip

Bitcoin Cash (BCH) Market Action  

Bitcoin cash (BCH) is being sold between $780 to 830 per coin this Saturday and the currency’s market valuation is around $14Bn. 24-hour trade volume is a bit lackluster since our last markets update as trades are around $567.3Mn today. The top BCH exchanges swapping the most bitcoin cash today include Coinex ($132.40 Mn), Okex ($59.30 Mn), Binance ($54.47 Mn), Hitbtc ($36.31 Mn), and Huobi Pro ($32.71 M). The top currency pair with BCH is tether (USDT 57.6%) which is followed by BTC (28.2%), USD (5.6%), ETH (2.7%), and KRW (1.14%). Bitcoin cash is the fifth most traded cryptocurrency this Saturday, just below the currency EOS.

Markets Update: Crypto-Prices See Some Recovery After the Dip

BCH/USD Technical Indicators

BCH/USD charts are somewhat similar to the BTC technical indicators. RSI levels for BCH/USD on Bitstamp and Bitfinex are hovering around the 44.76 area which shows improvements could be made in the short term. MACd is similar to BTC but looks as though its heading southbound at the time of writing.

Markets Update: Crypto-Prices See Some Recovery After the Dip

Further, the SMA 200 is also above the SMA 100 trendline which shows downside action is more tempting right now. However, the Average Directional Index (ADX) trend shows that bulls could push forward after chewing through some heavy resistance. Order books looking northbound indicate some pit stops between the current vantage point and then again at $840-870.

Markets Update: Crypto-Prices See Some Recovery After the Dip

The Verdict: Market Sentiment is Still Upbeat

Overall optimism seems pretty good this weekend as quite a few enthusiasts and traders seem positive the bearish trend is seemingly reversing. Most cryptocurrencies are up between 40-60 percent since the lows that took place on June 24. Some notable market movers this Saturday include XLM, BTC, VEN, BNB, and OX. The verdict today is still positive and a good majority of people believe prices will continue to trend higher but there are definitely a few skeptics who think the bear market may not be over just yet — But overall the verdict is still upbeat.   

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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Crowd Psychology Driving BTC Prices, Finance Experts Say

Crowd Psychology Driving BTC Prices, Finance Experts Say

According to a survey conducted among finance professionals, ‘crowd psychology’ is the main factor determining the movements of bitcoin market prices. More than half of the polled experts shared this opinion. Many of the individuals surveyed also expressed concerns about the issue with crypto custody, saying that the way cryptocurrency is stored now prevents BTC from becoming a global reserve asset.

Also read: PR Specialists in the Russian Crypto Space Paid 10x the Average Salary

The Phenomenon Behind the Recent Price Spike

Cryptocurrencies have been through a lot of downturns this year but the latest upward trend on the back of positive expectations has provided ground for optimism. Bitcoin core markets are recuperating from this year’s lows of less than $6,000 USD per one BTC in June to more than $8,000 USD this month (~40 percent increase). Now a new survey has revealed what finance professionals think about the major factors that are moving the price of the digital asset.

Crowd Psychology Driving BTC Prices, Finance Experts SayMore than half of the respondents in the poll conducted by Data Trek Research believe the recent market developments are closely correlated to the so-called “crowd psychology” phenomenon, also known as herd or pack mentality. 52 percent of the questioned said that’s the main driver of the price of the cryptocurrency with the largest market capitalization.

According to Nicholas Colas, co-founder of Data Trek Research, this is the single most surprising response of the whole survey, Market Watch reported. Commenting on the results of the study, he said:

Finance professionals make their livings by analyzing asset values through the lens of fundamental/quantifiable factors. That more than half of respondents believe valuation in the crypto space is “purely a function of crowd psychology” is refreshing in its honesty.

Usage Not a Significant Factor

Crowd Psychology Driving BTC Prices, Finance Experts SayOn the other hand, only 15 percent of the polled experts think the price of bitcoin core (BTC) is a function of the growing usage of the cryptocurrency.

The survey also found that the issue with crypto custody, or the way cryptocurrencies are held and stored, is a major concern for many investors. 38 percent of the questioned said BTC would never become a reserve asset on a global scale.

Of the 216 professionals that have participated in the Data Trek poll, 42 percent are employed in the traditional money management industry and another 24 percent are working as brokers.

Just in the past two weeks, BTC markets have gained approximately 30%. After a brief descent below $8,000, at the time of writing bitcoin (BTC) is again trading above this threshold.

What is your opinion about the major factors influencing the prices of cryptocurrencies? Tell us in the comments section below.


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Markets Update: BTC Gains 30% in Two Weeks, Alts Lose Correlation

Markets Update: BTC Gains 30% in 2 Weeks, Alts Lose Correlation

The BTC markets have gained approximately 30% in two weeks, with prices currently sitting at $8,300 USD after roughly 48 hours of consolidation above $8,000. After producing gains against the dollar, many other leading cryptocurrency markets have continued to produce inverse correlation when measured against BTC.

Also Read: Japanese Crypto Exchanges Working on Lowering Margin Trading Limits

BTC Consolidates Above $8,000

The price of Bitcoin Core (BTC) has gained roughly 30% in the last two weeks following the strongest fortnight of trading since April. Ten of the last thirteen days have produced red candles, with prices rising from approximately $6,200 to $8,200 as of this writing. The last two weeks of trading have also produced a notable spike in daily volume, with the 24th of July producing the highest trade volume for BTC/USD on Bitfinex since the 25th of April.

BTC/USD – Bitfinex – 1D

With the markets appearing to have established an immediate bull channel, many analysts are expecting that FOMO leading up to the United States Securities and Exchange Commission’s determinations regarding Chicago Board Options Exchange (CBOE)’s proposed bitcoin exchange-traded fund may drive the BTC markets to test resistance at approximately $10,000. Should the immediate trend fail, the markets will likely drop to retest the local support areas of either $7,500 or $6,800.

BTC currently has a market capitalization of $142 billion and a market dominance of nearly 47%.

BCH Gains Over 25% in Two Weeks

Bitcoin Cash has also enjoyed a bullish fortnight of price action, with the BCH markets gaining approximately 28% since testing support at roughly $660 on the 12th of July. Since then, the BCH/USD markets appear to have begun to form an ascending triangle formation – with current prices sitting at approximately $830 on Bitfinex.

BCH/USD – Bitfinex – 1W

Despite the gains against the dollar, BCH/BTC has continued to lose value against BTC, with the BCH/BTC markets continuing to follow the descending channel that has guided price action since May. Since the start of June, Bitcoin Cash has lost roughly 30% against BTC – falling from 0.15 BTC to the current levels just above 0.1 BTC.

BCH/BTC – Bitfinex – 1W

As of this writing, the BCH/BTC markets appear to be testing both the ascending and descending trendlines comprising a symmetrical triangle formation that has guided price action from the markets’ inception 12 months ago. BCH is the fourth largest cryptocurrency market with a total capitalization of roughly $14.6 billion and a market dominance of nearly 5%.

ETH Suffers Losses Against BTC

By contrast, the second largest cryptocurrency by market capitalization, Ethereum, has gained just 10% over the last ten days, rising from approximately $435 to $475 as of this writing. So far, the long-term ascending trendline on the ETH/USD chart dating back to May last year has continued to hold up.

ETH/USD – Bitfinex – 1W

Between the 15th and 18th of July, Ethereum gained 15% in three days, rallying to test support above $500. The markets immediately gave back most of the gains, retracing by 10% over the next three days before consolidating. On the 24th of July, ETH rallied by 7% over the dollar.

ETH/USD – Bitfinex – 1D

When measuring against BTC, Ethereum has lost 18.5% in the last two weeks, falling from 0.708 BTC to roughly 0.058. The market capitalization of ETH is $48.6 billion. Ethereum has a market dominance of 16%.

ETH/BTC – Bitfinex – 1W

XRP and EOS Channel Sideways

The price of XRP, the third-ranked cryptocurrency by market cap, has consolidated within a roughly 20% range over the last 30 days, with fiat prices fluctuating between approximately $0.43 and $0.52 since the last week of June. As of this writing, XRP is trading for $0.46.

ETH/USD – Bitfinex – 1W

When measuring against BTC, the XRP markets have produced an eighth consecutive red candle after falling from approximately 0.00009 BTC in the last week of April to roughly 0.0000565 as of this writing. Over the course of the last two weeks, XRP/BTC lost approximately 20% to break into new lows for 2018. The market capitalization of XRP is $18.25 billion, and the market dominance is 6%.

ETH/BTC – Bitfinex – 1W

The fifth largest crypto market by capitalization, EOS, has produced comparable price action to XRP in recent weeks, consolidating within a nearly 30% range over the course of the last five weeks when measuring against the dollar. As of this writing, EOS is trading for $8.6 after gaining 15% in two weeks following a bounce from the third point of contact with a major ascending trendline dating back to November 2017.

EOS/USD – Bitfinex – 1W

When measuring against BTC, seven of the last eight weekly candles produced by the EOS/BTC markets have been red, with EOS having lost nearly 45% in two months, falling from over 0.00185 BTC at the start of June to roughly 0.00105 BTC as of this writing. EOS has a market cap of $7.865 billion and a market dominance of 2.6%.

EOS/BTC – Bitfinex – 1W

Stellar Bucks Trend, Gains Over BTC

Of the top ten cryptocurrency markets by market capitalization, Stellar has been the sole market that has posted consistent gains over BTC in recent weeks. Stellar has gained roughly 28% during the last two and a half weeks, rallying from approximately 0.000031 to nearly 0.0004 as of this writing.

STR/BTC – Poloniex – 1W

When measuring against USD, Stellar is up 45% in the last ten days rallying from $0.22 to $0.32. In the last 30 days, Stellar has gained nearly 70% from roughly $0.19 on the 25th of June.

STR/USD – Poloniex – 1W

Stellar is the sixth largest cryptocurrency by market cap with a capitalization of $6.3 billion and a market dominance of over 2%.

Do you think that the altcoin markets will continue to shed correlation with BTC? Share your thoughts in the comments section below!


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Markets Update: Cryptocurrency Bulls Continue to Charge

Markets Update: Cryptocurrency Bulls Continue to Charge

Over the past few days, cryptocurrency markets have been showing bullish gains after a few small retractions during the weekend. At the moment the entire digital asset economy is valued at $285Bn while $14.3Bn worth of trades were swapped over the past 24-hours. Today on July 23 bitcoin core (BTC) markets are holding an average price of $7,700 per BTC. Meanwhile, bitcoin cash (BCH) prices are hovering around $815 per BCH at press time.

Also read: A Discussion With the Prolific Bitcoin Developer Unwriter

Are the Tides Turning for Cryptocurrencies?

A good portion of cryptocurrencies on Monday are seeing some gains after some good dips that took place over the weekend. Most digital assets are consolidating losses while a few others like BTC, BCH, LTC, and XMR are up between 1-2% today. Bitcoin core dominance  (the percentage of BTC’s market capitalization among all 1,600+ assets) has been steadily moving up over the past few weeks and touched a high of 46 percent today. The top five digital currencies with the most trade volume today includes BTC, USDT, ETH, EOS, and BCH. Many crypto-enthusiasts and traders are optimistic the tides have changed after months of bearish prices plagued cryptocurrency markets.

Bitcoin Core (BTC) Market Action

Bitcoin core (BTC) market action shows the cryptocurrency is being sold at prices between $7,650-7,710 per coin. BTC’s market capitalization is around $132Bn, and 24-hour trade volume is about $4.8Bn worth of swaps. The top exchanges trading the most BTC include Bitlfyer, Bitfinex, Fcoin, Binance, and Coinbene.

Markets Update: Cryptocurrency Bulls Continue to Charge

The Japanese yen is the most dominant pair today with BTC commanding more than 54 percent of global trades. This is followed by tether (USDT 28.8%) USD (11.3%), EUR (2%), and KRW (1.5%). The top trade today on the peer-to-peer cryptocurrency exchange Shapeshift.io is ethereum (ETH) for bitcoin core.

Markets Update: Cryptocurrency Bulls Continue to Charge

BTC/USD Technical Indicators

Looking at the BTC/USD charts on Bitstamp and Coinbase shows BTC bulls are trying to break massive resistance between the current vantage point to get past the $7,950-8,100 regions. The 4-hour chart shows the Relative Strength Index (RSI 62.9) is nearing the overbought zone at press time. However, the 100 Simple Moving Average (SMA) is above the longer term 200 SMA, which means buyers could take the upside after breaking some more resistance. MACd lines continue to confirm short-term upper movement is in the cards as the MACd histogram shows room for more improvement.

Markets Update: Cryptocurrency Bulls Continue to Charge

So far it looks as though bulls could press past the $8K region as the upside trend looks strong while observing the Average Directional Index (ADX). Looking at order books shows BTC bulls have some thick resistance to crack above the EMA 200 resistance $7,950 zone and there will be another pitstop around the $8,250 region. On the backside, if bulls get exhausted and bearish sentiment takes over there is strong support between now and $7,350 and also another stop at $6,850 if markets dropped lower.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) markets are showing an average price of $820 per coin this Monday. The cryptocurrency currently has a market valuation of around $14.1Bn and trade volume has dropped a touch since our last markets update to $617Mn over the last 24-hours. The top trading platforms exchanging the most BCH today includes Coinex, Okex, Binance, Hitbtc, and Bitfinex.

Markets Update: Cryptocurrency Bulls Continue to Charge

The biggest trading pair with BCH today is tether (USDT) which captures 50.4 percent of global BCH trades. This is followed by BTC (29.1%), USD (9.8%), KRW (2.4%) and ETH (2.35%). The EUR also commands roughly 1.7 percent of today’s BCH swaps on July 23.

Markets Update: Cryptocurrency Bulls Continue to Charge

BCH/USD Technical Indicators

Observing the technical indicators on the daily and 4-hour Bitfinex BCH/USD charts show the price has been somewhat stable lately with charts showing slight variances here and there over the past week. The short-term 100 SMA is slightly above the 200 SMA trendline indicating the path of least resistance should be towards the upside. The 4-hour chart indicates that the Relative Strength Index (RSI 52.4) is meandering in the middle showing a small period of trading uncertainty.

Markets Update: Cryptocurrency Bulls Continue to Charge

The Average Directional Index (ADX) confirms bulls still have the reigns, and the strength of market conditions remains solid for the short term. Looking at order books and the EMA 200 shows strong resistance between the $850-925 zone. BCH bulls will need to eat away at these orders to continue maintaining upward momentum. On the back side, order books show some strong foundations between the current vantage point and $760, while after that region books begin to thin out.

Could We Be on the Cusp of a Massive Bull Run?

Enthusiasts and traders are still skeptical of what will take place next within the land of cryptocurrency markets. All of the digital assets have had mediocre trade volumes since last week as general markets are seeing a slight dip in crypto-swaps over the past few days. Bulls are making some moves northbound but the volumes show conviction is lacking. However, many crypto-proponents believe the upcoming bitcoin-based exchange-traded-fund (ETF) decision this August is what’s fueling the current pumps over the last week. For example, the senior market analyst at Etoro, Mati Greenspan, believes a market reversal is imminent. Greenspan explains to his Twitter followers:

We might just be on the cusp of the largest bitcoin bull run in history.

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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