Markets Update: A Narrowing Range of Consolidation and Lower Trade Volumes

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

Not a lot has changed since our last markets update four days ago as cryptocurrency markets continue moving sideways in a consolidated pattern. The top five digital assets have seen modest northbound gains this week, with increases between 1-5% over the last seven days. This Sunday, Oct. 21, the entire cryptocurrency economy of over 2,000 digital tokens is valued at $214.4 billion.

Also read: New Qart Wallet Gives Bitcoin Cash QR Codes a Personal Touch

Boring Market Action Often Leads to Something Unexpected

It’s been a lackluster week for cryptocurrency traders as not much has been happening, except for a few stablecoins having some interesting breakouts a few days ago. Since then most of the stablecoins, funnily enough, have seen less volatility and actually remained ‘stable.’ Top performing digital assets like bitcoin cash (BCH), ethereum (ETH), and bitcoin core (BTC) dropped a hair in value last week as traditional finance investments plummeted. However, these digital assets have regained the very small losses that took place on Oct. 19, and most of the top coins are up over the last seven days. This weekend, bulls seem to be strengthening their positions for another attempt to intensify a bearish-to-bullish trend change.

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) is currently trading at $452 per coin this Sunday, with a market valuation of about $7.85 billion. Much like BTC and the rest of the top cryptocurrency markets, bitcoin cash trade volumes have been waning. Four days ago, BCH daily trade volumes were above $300 million, but have since dropped to $281.3 million. The top exchanges trading the most BCH today include Lbank, Hitbtc, Binance, Okex, and Bithumb. The dominant five trading pairs swapped for bitcoin cash this weekend are BTC (43%), USDT (29%), ETH (10.9%), KRW (8.6%), and USD (3.1%). The US dollar pair has dropped considerably against BCH, and the Korean won has jumped a good percentage upwards when it comes to global fiat volumes. Bitcoin cash this weekend is the sixth most traded cryptocurrency among the entire crypto-economy.

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

BCH/USD Technical Indicators

Looking at charts over the last few days is similar to looking at the ocean’s horizon or a straight line. The four-hour and daily charts for BCH/USD show bulls look as though they are attempting to breakout upwards again in the near term. However, the two simple moving averages (SMA) have crossed hairs, indicating a trend change could be imminent. The 200 SMA is now just above the 100 SMA, showing the path towards the least resistance is likely the downside at the moment.

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

Relative strength index (RSI) levels are meandering in the middle (-54.47), showing traders may be indecisive. The MACd shows a similar readout, indicating there could be room for improvement or a break toward the downside. Order books show bears will be stopped short in the $420 region and see another pitstop around $385 as well. BCH bulls need to press past the current vantage point and surpass a large sum of orders between the $460 through $500 range. After that, BCH bulls still need to defeat big walls above the $520 range and higher to keep momentum going strong.

Markets Update: A Narrowing Range of Consolidation and Digital Asset Trade Volumes

The Verdict: Positive News Hasn’t Erased Market Skepticism  

Overall there’s been a lot of news concerning institutional investment coming into the space and many crypto proponents are pleased to see these new entries. For instance, Fidelity Investments recently announced launching a trading desk, and Caspian’s multi-exchange trading platform came out of beta. Bitgo raised $57.5 million and Genesis Global Trading reports that institutional traders have borrowed $553 million worth of digital assets since March 2018. Meanwhile, Bitcoin Cash fans have seen an exponential increase in adoption and development over the last seven days. The outlook is surely positive for the future of cryptocurrencies, but markets don’t seem to be reflecting the optimism. The verdict this week is still skeptical as far as short-term market prices are concerned. This is due to weak cryptocurrency market volumes, a narrowing range of consolidation, and the previous and very interesting stablecoin fluctuations that occurred earlier this week.

Where do you see the price of bitcoin cash 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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Want to create your own secure cold storage paper wallet? Check our tools section.

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Markets Update: Stable Cryptocurrencies and Unstable Pegged Coins

Since our last markets update, cryptocurrencies have been steadily moving sideways as traders are patiently waiting for the next big move. On Wednesday, Oct. 17, bitcoin core has been hovering between $6,400-6,550, while bitcoin cash has been coasting along around $425-500 per coin. The market capitalization of all 2,000+ cryptocurrencies hasn’t budged much over the last two weeks and currently rests at $213.4 billion.

Also read: Bizarro World: Federated Sidechain Technology Promoted Over Nakamoto Consensus

Stablecoins Show More Action Than Most Cryptocurrencies This Week

Markets have been trading in a triangular and consolidated pattern since the last big spike on Sunday, Oct. 15. That day, bitcoin core (BTC) spiked to a high of $6,760 on a few exchanges like Bitstamp, and bitcoin cash touched $501. Additionally, exchanges that use the stablecoin tether (USDT) saw BTC and BCH prices rise even higher than most spot markets and BTC values saw highs above $7,000. This market behavior was due to USDT dropping below the value of USD, hitting a low of $0.86 per token.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins

Other stablecoins like TUSD, GUSD, and USDC saw significant volumes this week as lots of money poured into these specific markets. On Oct. 16, Circle’s stablecoin USDC grew 2,000 % in seven days on partner exchanges and that day’s USDC volume surpassed the week prior’s.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins

During that time, other stablecoins like GUSD and TUSD rose above their dollar pegs while USDT dipped below. Following the jump in value, BCH and BTC prices have dipped a hair and USDT values have regained momentum.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins

The Top Cryptocurrency Markets

Bitcoin core markets are down today around 1% and one BTC is trading for $6,534 according to Satoshi Pulse data. Ethereum (ETH) prices are down 1.4%, as each ETH trades at $207 this Wednesday. Following behind ETH is ripple (XRP), which is up 1.8% over the last 24 hours. XRP prices are hovering around $0.46 at the time of publication. Lastly, EOS is down 0.68% today and the digital asset is swapped for $5.39 per coin. Overall, the top contenders are down between one to 13% over the last seven days of trading sessions.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins
The top ten cryptocurrency markets on Oct. 17, 2018.

Bitcoin Cash (BCH) Market Action

Bitcoin cash spot markets are seeing BCH trade for $451 per coin with the currency’s value down 1.7% over the last 24 hours. Percentages are down even lower for the week as seven-day statistics show BCH has dipped around 11.7% this past week. The top five exchanges swapping the most BCH this Wednesday are Lbank, Hitbtc, Binance, Okex and Huobi. BTC is the top trading pair exchanged with BCH, capturing 41.8% of all spot market trades. This is followed by the trading pairs USDT (27%), ETH (16%), USD (5.2%), and KRW (5.2%). Bitcoin cash has the sixth-largest trading volume, as $301 million worth of BCH trades have been processed in the last 24 hours.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins
BCH/USD seven-day.

BCH/USD Technical Indicators

Looking at the four-hour and daily Bitstamp and Bitfinex BCH/USD charts shows some serious sideways action since the last spike. Many other digital asset charts like BTC/USD are following similar patterns, as traders seem to be finding new positions over the last two days. Currently, the BCH four-hour relative strength index (RSI -40) oscillator is meandering in the midrange and not granting many clues. The two simple moving averages (100 & 200 SMA) indicate a change may be in the cards as the two look as though they will be crossing hairs soon.

Markets Update: Seemingly Stable Markets and Unstable Pegged Coins
Oct. 17, 2018, BCH/USD Bitfinex

Unless things change, the 100 SMA looks to be dropping below the 200 SMA trendline, showing the path toward the least resistance will be the downside. Order books show there are big hurdles for BCH bulls from now until $465 and another pitstop above the $500 region. If things change and the price heads south, BCH bears will be stopped at $415 and $390 respectively.

The Verdict: Uncertainty Is in the Air

The verdict this week depends on who you ask, but can be generalized with one word: uncertainty. Some traders believe a bearish-to-bullish change is imminent, while others think cryptocurrency prices may sink lower. BTC/USD and ETH/USD shorts are fairly high, but not as much as they were a few weeks ago. The consolidated tight pattern and lack of shorts this week show uncertainty in the minds of traders waiting for a breakout in either direction.

Where do you see the price of bitcoin cash 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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Want to create your own secure cold storage paper wallet? Check our tools section.

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Markets Update: Crypto-Traders Patiently Wait for a Break Out

Markets Update: Crypto-Traders Patiently Wait for a Break Out

Cryptocurrency prices have remained in a consolidated pattern over the last two weeks with a few ups and downs, but have remained fairly stable in recent days. The overall market capitalization of all 1900+ cryptocurrencies is valued at $221 billion with close to $12 billion worth traded over the last 24-hours.

Also read: Bitpay Phases Out Crypto-Debit Cards for European Cardholders

Crypto-Markets Are Meandering Around as Traders Wait for a Break Out

Digital asset traders are patiently waiting for a break-out of some sort, in any direction, but it’s safe to say a lot of people are waiting for that bearish-to-bullish reversal. Today, just before the weekend, cryptocurrency trade volumes globally have ticked up and prices are meandering along with 2-3 percent swings at times. Bitcoin core (BTC) is hovering around $6,596 at the time of publication with a $114 billion total market valuation. BTC is the top traded coin by trade volume, as BTC markets are capturing $3.8 billion in daily trades. The second highest valued capitalization held by Ethereum (ETH) is around $22.9 billion with each ETH trading for $224 per coin. Ripple (XRP) is being swapped for $0.53 and the currency’s valuation is awfully close to Ethereum’s market cap at $21.3 billion. Eos (EOS) markets are up 3.5 percent today as one eos is being exchanged for $5.75 per coin.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
Top ten cryptocurrencies October 4, 2018.

Bitcoin Cash Market Action

Bitcoin cash (BCH) markets are up only 0.9 percent today, and over the last seven days the currency has lost 8.3 percent. Today BCH is being traded for roughly $516 per coin and the overall market capitalization is $8.99 billion. With a 24-hour volume of around $452.9 million, bitcoin cash markets hold the sixth highest trading volume throughout the crypto-economy. The top five exchanges today swapping the most BCH include Lbank, Hitbtc, Binance, Okex, and Huobi. Tether (USDT) is the currency traded with BCH the most today as USDT captures 36.5 percent of the market. This is followed by BTC (34.1%), ETH (19.4%), USD (4.6%), and KRW (1.8%).

Markets Update: Crypto-Traders Patiently Wait for a Break Out
Bitcoin Cash (BCH) 10-4-18 3:20 pm EDT.

BCH/USD Technical Indicators

Looking at the daily and 4-hour BCH/USD charts on Bitfinex and Bitstamp show bears have managed to lower the price of BCH to get in on some cheaper coins. On the 4-hour charts, both the RSI (-36) and Stochastic oscillators show markets are remaining in oversold territories at press time. One thing that’s worth noting is the two Simple-Moving-Averages (SMA) are about to cross hairs and this could mean an upside trend reversal is in the cards.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
BCH/USD Bitfinex daily 10-4-18.

The 200 SMA is still slightly above the 100 SMA trendline showing for now the path towards the least resistance is still the downside. The 4-hour MACd shows room for improvement and Bollinger bands are extra tight. Looking at order books we can see lots of opposition at the current vantage point up until $550 and then again at $580. On the backside, if bears try and claw the price down more then there are thick foundations at $480 all the way to $460.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
BCH/USD Bitfinex 4-hour 10-4-18.

The Verdict: Traders Uncertain of a Bullish Reversal or Downside Break

Of course, there are a lot of analysts who believe crypto prices will grow bullish again this year and some think BTC can hit $20K again. However this week on CNBC the CEO of crypto investment firm Galaxy Digital, Michael Novogratz said he doesn’t think BTC will go above all-time highs in 2018 and continues, “I don’t think it breaks $9,000 this year.” During an interview this week the cryptocurrency analyst Nikola Lazić forecasted a downturn in prices.

“I am expecting a breakout from the downside because the horizontal support has already been broken today, the red triangle’s support has been broken in the past when the price found support on the symmetrical triangle’s uptrend line which was respected in the past,” explains Lazić.

The analyst continues:

If that last support gets broken then we are definitely seeing a lower low which would be below $5,767 (£4,458).

Overall markets, in general, have been consolidating and traders are simply waiting for the next spike or drop depending on which way they are betting. It’s safe to say enthusiasts and traders are still uncertain where markets will take them during the last quarter of the year.

Where do you see the price of Bitcoin Cash 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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Markets Update: Digital Asset Consolidation and Accumulation Continues

Markets Update: Digital Asset Consolidation and Accumulation Continues

On Saturday September 29, cryptocurrency prices are meandering along after an interesting two weeks of ups and downs. Since last week’s crypto market dips, digital asset markets have been seemingly less volatile and many cryptocurrencies are following a tight wedge formation indicating a possible accumulation phase.

Also read: Ebang Announces 44 Terahash E-11 Miners With 10nm Chips

The Cryptocurrency Economy Gains US$13 Billion This Week

The weekend is here and digital asset traders are trying to figure out what’s next in the land of crypto trading. There’s been some improvement since our last markets update four days ago as the entire crypto-economy at the time was valued at US$210 billion. Today, thanks to gains stemming from ethereum, ripple, and bitcoin cash, the overall market capitalization has gained over $13 billion as it currently rests at $223.7 billion. The top assets today with the most 24-hour trade volume include bitcoin core (BTC), tether (USDT), ethereum (ETH), ripple (XRP), eos (EOS), and bitcoin cash (BCH).

Markets Update: Digital Asset Consolidation and Accumulation Continues
Top ten digital asset markets on Saturday, September 29, 2018.

Bitcoin core (BTC) prices are hovering around $6,587 today, but markets are down 0.86 percent over the last 24-hours, and 1.5 percent for the week. BTC has an overall market valuation of around $113 billion and trade volume is meandering around $4.6 billion this weekend. Ethereum (ETH) is up 3.6 percent this Saturday and one ETH is trading for $232 per coin at press time. Ripple (XRP) markets have seen a 7.5 percent gain over the last 24-hours and 0.11 percent over the week. XRP is trading for $0.56 per coin and the market valuation for ripple today is $22.7 billion. Lastly, eos (EOS) has lost 0.96 percent today and 2.86 percent for the last seven days. One eos is swapping for $5.75 per token with a market capitalization of around $5.2 billion.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) markets are continuing to do well this week as prices have gained 13 percent over the last seven days. However, BCH markets over the past 24 hours are down 0.18 percent leading to a price of around $542 per BCH. Currently, the market capitalization for bitcoin cash hovers around $9.42 billion and trade volume is about $639 million at the time of publication. The top five BCH swapping exchanges this weekend are Lbank, Hitbtc, Okex, Binance, and Coinex. The top currency pairs traded with bitcoin cash this weekend include USDT (39.9%), BTC (32.9%), ETH (13%), USD (7.5%), and KRW (2.8%).

Markets Update: Digital Asset Consolidation and Accumulation Continues
BCH/USD seven-day Satoshi Pulse, 9-29-18.

BCH/USD Technical Indicators

Looking at the 4-hour trading view charts on both Bitfinex and Bitstamp shows BCH bulls may be showing a bit of exhaustion after the spike a few days ago. The Macd indicator (4-H) shows bulls have leveled some upper resistance as the price approached oversold territories yesterday. Both momentum oscillators on the 4-H BCH chart indicate some bullish charges continue as RSI (-58.4) and Stochastic (-22.4) show room for more improvement today.

Markets Update: Digital Asset Consolidation and Accumulation Continues
BCH/USD 4-hour Bitfinex, 9-29-18.

The two simple-moving-averages (SMA) trendlines look as though a crossover trend could take place over the next 24 hours. However, the SMA 200 is still above the 100 SMA indicating the path towards the least resistance is still the downside. Order books towards the upside show heavy opposition from now up until $575; from there on, books show smoother seas. On the backside, if bears manage to claw price down some more we can see strong foundational support from the current vantage point and until $488. There also appears to be a massive wall holding from $485 through $470.

Markets Update: Digital Asset Consolidation and Accumulation Continues
BCH/USD daily Bitfinex, 9-29-18.

The Verdict: While Traders Wait for Higher Highs in 2018, Some Envision Momentum Building in the Fourth Quarter

There’s been a lot going on in the cryptocurrency world but this week’s headlines were definitely far less negative than last week’s crypto news. In the US a federal judge on Sep 26 declared that all cryptocurrencies should be viewed as commodities which in turn provides the Commodity Futures Trading Commission (CFTC) with the ability to charge digital currency projects with fraud. A few cryptocurrency analysts and industry executives are still positive we will see a bull run by the year’s end.

As 2018’s fourth quarter begins, Naeem Aslam, chief market analyst at Think Markets UK, says he sees momentum increasing again. “September is coming to an end and a very interesting quarter is about to start. Does it remind you of anything? Oh yes, it reminds me of last year’s bull rally,” wrote Aslam on Friday. The Think Markets researcher adds:

It appears to me that a similar momentum could be building up again — This must be music to those who are suffering from heavy losses in the crypto market.  

Speaking in an interview at the Consensus: Singapore 2018 event, Changpeng Zhao (CZ), CEO at Binance, also thinks the bull market will return and cautiously says cryptocurrency prices usually spike during fourth quarters. CZ emphasized during the interview:

I think that any minute the bull market will return, and historically, October to December are the good months — Before Christmas are usually the months when the markets go up very often, but I am not saying that it will this year, or that it will not.  

Where do you see the price of Bitcoin Cash 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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Markets Update: Cryptocurrencies Dip Again Forming Consolidated Support

Markets Update: Cryptocurrencies Dip Again Forming Consolidated Support

Just when cryptocurrency prices were starting to look better, digital asset markets shaved around $19 billion USD off the entire crypto-economy. Today the cryptocurrency ecosystem’s 1,900+ coins have an overall market capitalization of about $210 billion and about $14 billion in global trade volume.

Also read: Ebang Announces 44 Terahash E-11 Miners With 10nm Chips

The 2018 Dips

Markets are looking gloomy again as last week many markets had spiked between 5-30 percent in value over the last seven days. Of course, most of those gains were erased last night and during today’s cryptocurrency trading sessions. During our last markets update just two days ago, the entire crypto-cap was around $229 billion, but yesterday that all changed. Global digital asset trade volumes haven’t changed much as prices have begun to sink, when usually trade volumes pick up the pace during the dips.

Markets Update: Cryptocurrencies Dip Again Forming Consolidated Support

This Tuesday bitcoin core (BTC) is valued around $6,435 as the cryptocurrency is down 2.4 percent over the last 24-hours. Still holding the top trade volume position BTC has about $4.4 billion in daily volume with a market valuation of around $111 billion. Ethereum (ETH) prices have dropped by 9.9 percent this Tuesday and one ETH is trading for $210 per coin at the time of publication. The third highest valued market capitalization held by ripple (XRP) saw seven-day gains of over 103 percent last week. This week is different for XRP as the currency is down 12 percent today ($0.45 per coin), but is still up 54 percent for the entire week. Bitcoin cash (BCH) values have dipped 6.4 percent today as one BCH is trading for $434 per coin today. 

Bitcoin Cash (BCH) Market Action

Bitcoin cash markets are still up over 2 percent over the course of the last seven days. BCH holds the sixth largest trade volume today below eos and above litecoin. The decentralized cryptocurrency’s overall market valuation is hovering around $7.6 billion with $375 million in 24-hour trade volume. The top five exchanges swapping the most BCH today include EXX, Lbank, Hitbtc, Okex, and Huobi. Binance and Coinex also command 6-7 percent of the global BCH trades today each. The top currency pair traded with bitcoin cash this week is BTC as the digital asset captures 50.8 percent of worldwide exchanges. This is followed by USDT (30.9%), ETH (7.9%), USD (5.5%), QC (1.6%), and KRW (1.5%).

Markets Update: Cryptocurrencies Dip Again Forming Consolidated Support

BCH/USD Technical Indicators

Looking at the 4-hour, and daily charts BCH/USD charts on Bitfinex show that bulls have failed to push past upper resistance two days ago. The Macd indicator (4-H) shows the bearish drop may be a touch overextended at the moment. Both the 4-H RSI (-34.8) and Stochastic (-28.4) momentum oscillators also show markets are entering oversold conditions. There’s a large gap between the two Simple Moving Averages (SMA) with the 200 SMA well above the 100 SMA trendline. This gap confirms the market trend won’t crossover just yet, as the path towards the least resistance is towards the downside. Looking at order books show some key support and resistance levels. On the upside, bulls will be held back from the current vantage point up until $460. A price of $500 per BCH and above shows more resistance levels for buyers to overcome. On the backside, bears will see a temporary stop at $410 and there will also be key foundational support around $380.

Markets Update: Cryptocurrencies Dip Again Forming Consolidated Support

The Verdict: Skeptics Highlight Bets Against the Top Crypto-Markets and Consolidation

Of course, the verdict has changed for this particular markets update to a touch more skepticism. BTC/USD and ETH/USD short contracts are starting to rise again. Cryptocurrency prices are seeing some slight recovery today on September 25 after the initial drop the day before but not by much. Rob Sluymer the managing director and technical strategist at Fundstrat details that the recent dips put some cryptocurrencies in an uncertain position. Sluymer notes this week:

Last week’s decline leaves BTC in a fragile technical position as it attempts to stabilize/base at $6,100-$6,200 support. A break below $6,100 would signal a retest and possible break of $5,800 support with potential risk to $5,000.

Unless there’s a considerable trend reversal trader’s betting against crypto-markets, we could see another downside break to BCH lows of $350, BTC $5,700, and ETH $160. However others believe it is more likely digital assets will follow a consolidated pennant support, and prices will remain in these current ranges. A spike above BCH ($650), BTC ($7,200), and ETH ($290) would show a consistent bearish-to-bullish trend reversal signal.

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

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

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

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

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

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

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

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

Bitcoin Cash (BCH) Market Action

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

BCH/USD Technical Indicators

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

Bitcoin Core (BTC) Market Action

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

BTC/USD Technical Indicators

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

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

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

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

Markets Update: Cryptocurrencies See Some Small Gains This Weekend

Markets Update: Cryptocurrencies See Some Small Gains This Weekend

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

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

Cryptocurrency Markets See Some Slight Upswing

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

The Top Digital Assets

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

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

Bitcoin Cash (BCH) Market Action

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

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

BCH/USD Technical Indicators

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

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

The Verdict: Positivity Increases but Skepticism Remains

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

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

Markets Update: Crypto Prices Consolidate After Some Volatility

Markets Update: Crypto Prices Consolidate After Some Volatility

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

Also Read: Wormhole Mainnet and Developers’ Guide Launched

Saturday Trading Sessions Show Some Market Rebounds

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

Bitcoin Core (BTC) Market Action

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

Markets Update: Crypto Prices Consolidate After Some Volatility

BTC/USD Technical Indicators

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

Markets Update: Crypto Prices Consolidate After Some Volatility

Bitcoin Cash (BCH) Market Action  

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

Markets Update: Crypto Prices Consolidate After Some Volatility

BCH/USD Technical Indicators

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

Markets Update: Crypto Prices Consolidate After Some Volatility

The Verdict: Short-Term Uncertainty and Indecisive Markets

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

Markets Update: Crypto Prices Consolidate After Some Volatility

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

 

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

Markets Update: Crypto-Prices Slide After SEC Announcement

Markets Update: Crypto-Prices Slide After SEC Announcement

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

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

After the SEC Announcement Cryptocurrency Prices Slide Significantly  

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

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

Bitcoin Core (BTC) Market Action

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

Markets Update: Crypto-Prices Slide After SEC Announcement

BTC/USD Technical Indicators

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

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

Bitcoin Cash (BCH) Market Action

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

Markets Update: Crypto-Prices Slide After SEC Announcement

BCH/USD Technical Indicators

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

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

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

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

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

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

 

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

Markets Update: Bears Claw Billions Off Digital Currency Valuations

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

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

Cryptocurrencies Fall in Value Once Again This Weekend

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

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

Bitcoin Core (BTC) Market Action

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

BTC/USD Technical Indicators

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

Bitcoin Cash (BCH) Market Action

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

BCH/USD Technical Indicators

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

The Verdict: Skepticism and Doubt Remains

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: Bears Claw Billions Off Digital Currency Valuations appeared first on Bitcoin News.

Markets Update: Cryptocurrency 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.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish appeared first on Bitcoin News.

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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Markets Update: Cryptocurrency Valuations Gain Billions in One Day

Markets Update: Cryptocurrency Valuations Gain Billions in One Day

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

Also read: Bitcoin ABC Developers Publish Bitcoin Cash Upgrade Timeline 

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

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

Bitcoin Core (BTC) Markets

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

BTC/USD Technical Indicators

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

Bitcoin Cash (BCH) Markets

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

BCH/USD Technical Indicators

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

The Verdict: Steady Flow of Market Optimism

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

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: Cryptocurrency Valuations Gain Billions in One Day appeared first on Bitcoin News.

Markets Update: Bitcoin Bulls Charge Forward

Markets Update: Bitcoin Bulls Charge Forward

Cryptocurrencies are seeing some good gains over the past two days after market capitalizations lost billions last weekend. Over the last six days, the entire digital asset economy has seen an increase of around $15Bn and now averages around $268Bn on Monday, July 16. Digital currency proponents are hopeful the past six months of bearish market sentiment is over and brighter days may be ahead.

Also read: Bitcoin ABC Developers Publish Bitcoin Cash Upgrade Timeline 

Bullish Optimism Creeps Into the Cryptocurrency Market Sentiment, With a Possibility of Brighter Days Ahead

Markets Update: Bitcoin Bulls Charge ForwardDigital asset traders and enthusiasts are optimistic cryptocurrency markets may reverse their downward trend over the next few weeks leading up to the Cboe ETF decision. Last weekend markets were seeing losses across the board as the top cryptocurrency values had dropped 5-25 percent fairly quickly. But since then over the course of the week, digital currency prices have gathered steam and regained at least 2/3rds of last week’s losses. Overall trade volume is about $12.8Bn and has been relatively weak over the past few months but has seen a slight increase today.

Bitcoin Core (BTC) Market Action

The current bitcoin core (BTC) spot price right now is around $6,687 per BTC at the time of publication. BTC 24-hour trade volume is about $4.4Bn over the last day and the cryptocurrency has a $114.5Bn market valuation. The top exchanges swapping the most bitcoin core today include Bitflyer (1.8Bn), Fcoin ($325Mn), Coinbene ($281Mn), Binance ($196Mn), and Bigone ($187Mn). On July 16, the most traded currency exchanged for BTC is the Japanese yen capturing 49 percent of the intraday’s trades. This is followed by tether (USDT 33%), USD (10.2%), EUR (2.4%), and the KRW (1.8%). Out of the 1600+ digital bitcoin core’s market dominance is about 42 percent.

Markets Update: Bitcoin Bulls Charge Forward

BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD charts on Bitstamp and Coinbase shows bulls are pushing markets forward attempting to challenge the $6,800-7,000 resistance. Around 1 pm EDT relative strength index (RSI) levels show overbought conditions at 76. The two Simple Moving Averages (SMA) have crossed hairs recently and the 100 SMA is above the 200 SMA. This indicates the path of least resistance is towards the upside. MACd is heading northbound and shows more upswing could be in the cards today. Looking at order books shows BTC bulls need to crack the $6,800-7,000 territory and after that is smoother seas up until $7,200. On the backside, if bears took the reigns again there is plenty of support down to $5600 for quite some time.

Markets Update: Bitcoin Bulls Charge Forward

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) market action shows the price is around $800 per coin this Monday. The decentralized cryptocurrency’s overall market capitalization is about $13.77Bn and daily trade volume has increased to about $494Mn. BCH holds the fifth highest trade volumes today out of the top cryptocurrencies and is the fourth largest market cap. The top trading platforms exchanging the most BCH today include Bigone ($58Mn), Okex ($56Mn), Binance ($48Mn), Coinex ($48Mn), and Hitbtc ($41Mn). The top currency pairs traded with bitcoin cash today include tether (USDT 47%), BTC (28%), USD (12%), KRW (3.5%), ETH (2.7%). 

Markets Update: Bitcoin Bulls Charge Forward

BCH/USD Technical Indicators.

BCH/USD 4-hour and 30-minute charts look very similar to BTC/USD charts today and are performing similarly. However, the two SMAs are different with the 200 SMA above the 100 SMA indicating the path towards least resistance is the downside. Similarly to BTC/USD, RSI levels are about 79 right now showing overbought conditions. MACd looks like it could bump up more but might head southbound over the next hour. Looking at order books shows some very large walls between the current vantage point and $840. If BCH bulls can move past the $860 area then things may improve even more. On the backside charts show from now up until $650 there is strong support. 

Markets Update: Bitcoin Bulls Charge Forward

The Verdict: Traders Seem Positive and Hope for More Green Candles

The verdict this time around is far more positive as markets have improved a great deal this week. Most of the top cryptocurrencies have seen around 5 percent in gains over the past 24-hours but coins such as LTC, IOTA, and NEO have made notable increases. As mentioned above, a lot of traders think markets might continue to climb as the ETF decision approaches. The possible outcome of this upcoming decision may have blown a breath of fresh air into the cryptocurrency economy. 

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: Bitcoin Bulls Charge Forward appeared first on Bitcoin News.

Markets Update: Crypto-Prices Drop a Leg Down as Bulls Lose Momentum

Markets Update: Crypto-Prices Drop a Leg Down as Bulls Lose Momentum

Digital asset markets have failed to surpass heavy resistance over the weekend, and during the early morning trading sessions on Tuesday, July 10, as well. The top cryptocurrencies have slid in value once again as Bitcoin Core (BTC) has tumbled to $6,377 after touching the $6,830 region. Meanwhile, Bitcoin Cash (BCH) prices hovered around $785 per coin a few days ago but the price has dropped to $696 since that vantage point. Overall the leading digital currencies are down between 4-15 percent in value over the past 24-hours.

Also read: Bitcoin ABC Developers Publish Bitcoin Cash Upgrade Timeline

More Than $16 Billion Shaved Off Cryptocurrency Valuations Since Friday

A thick veil of bearish sentiment has once again encapsulated cryptocurrency traders as the bullish price momentum from last week reversed. Cryptocurrency bulls attempted to surpass the rallies that took place on 6/18, and several attempts to overcome resistance has seemingly failed. At $254 billion USD the entire market capitalization of all 1,600+ digital currencies has lost around $16Bn since the weekend. At the current vantage point, some traders believe cryptocurrency prices could take a major leg down again.

BTC Market Action

Since our last markets update, Bitcoin Core (BTC) trade volume has decreased a hair from $5.2Bn in daily trades to $4.18Bn over the last 24-hours. The top five exchanges today swapping the most BTC includes Bitflyer, Bigone, Fcoin, Binance, and Bitfinex. BTC markets are down 6.1 percent over the last 24-hours and 3 percent over the course of the week. The Japanese yen is still dominating BTC pairs by 44.7 percent on July 10. This is followed by tether (USDT 38.9%), USD (11.3%), EUR (1.8%), and KRW (1.6%). At the number one spot, as far as market valuation, BTC’s capitalization is around $109Bn USD which dominates all 1,600+ other markets by 43.1 percent.

Markets Update: Crypto-Prices Drop a Leg Down as Bulls Lose Momentum

BTC/USD Technical indicators

Looking at the daily and 4-hour BTC/USD charts on Coinbase and Bitfinex show bears have managed to capitalize on the current downturn. The Relative Strength Index (RSI) undervalued or oversold at 27 right now which indicates bears will see some exhaustion. Bulls had failed to surpass key resistance zones above the $6,800 range and the two Simple Moving Averages (SMA) show the long-term 200 SMA is above the 100 trendline. That means the path of least resistance will be towards the downside with the MACd rising on occasion but weakening over time. Currently, if bears manage to tug prices below the current vantage point and the Displaced Moving Average of $6,200 then we will see a break down below sub-$6K support. Order books show nice resistance now above the $6,600 mark and again it deepens at $6,800. On the backside, there are solid foundations from here to the sub-$6K range but then even bigger support at the $5,700-5,400 territories.

Markets Update: Crypto-Prices Drop a Leg Down as Bulls Lose Momentum

BCH Market Action

Bitcoin Cash (BCH) market action today is showing trade volume of around $407Bn USD worth of swaps over the past 24-hours. The top BCH market makers today includes Fcoin, Okex, Hitbtc, Coinex, and Bitfinex. Bitcoin cash is the sixth most traded cryptocurrency on July 10 and holds a market valuation of around $12Bn. Tether is playing a large role today with BCH pairs as the currency captures 65 percent of today’s trades. This is followed by BTC (20%), USD (7.4%), KRW (2.1%), and ETH (1.9%). BCH is down 6.9 percent over the last 24 hours and 10.1 percent over the past week.

Markets Update: Crypto-Prices Drop a Leg Down as Bulls Lose Momentum

BCH/USD Technical Indicators

Looking at the BCH/USD daily and 4-hour charts on Bitfinex and Bitstamp show BCH has taken some steeper dips than BTC. RSI levels at 26 show conditions are definitely oversold and some upswing could be in the cards today. SMA indicators show similar findings with the 200 SMA well above the 100 SMA on the 4-hour chart. In the charts, we saw a rising wedge with big resistance above the $800 region, and prices managed to sink below the wedge today. Looking at order books shows some solid foundational support at the current vantage point, but, if a sell trigger appears, bears will again attempt to lock in profits by shorting. Below the $690s support is very strong at $610 and lower. If BCH bulls managed to gain some momentum then they must surpass $715 and heavier resistance at $770 once again.

Markets Update: Crypto-Prices Drop a Leg Down as Bulls Lose Momentum

The Top Cryptocurrency Markets See Losses

Today, the second highest capitalization held by ethereum (ETH) is down 9.5 percent and 6.4 percent over the last week. One ETH is priced around $440 per coin and the market is valued at around $44.2Bn USD. Ripple (XRP) has lost 5.9 percent over the last 24-hours, and 9 percent over the last seven days. XRP is trading at $0.44 cents a token with a $17.6Bn market capitalization. Lastly, the fifth highest valued market, EOS, is down 15 percent today and 18 percent over the week. An EOS currently trades for $7.35 per token and the market captures $6.5Bn on July 10, 2018.

Markets Update: Crypto-Prices Drop a Leg Down as Bulls Lose Momentum

The Verdict: Crypto-Market Cynicism and Pessimism Overtake Last Week’s Positivity

Overall market sentiment has moved back towards the bearish side as bullish attempts were squashed this weekend. Traders are again guessing that newer lows will follow and skepticism and doubt has filled the air. This week’s market verdict is different than last Friday’s analysis by far, and it’s safe to say lots of traders are pessimistic.

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: Crypto-Prices Drop a Leg Down as Bulls Lose Momentum appeared first on Bitcoin News.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

Cryptocurrency markets are doing better this week since our last markets update as the entire digital asset economy is now valued at around $270.4Bn. Most digital currencies are up between 7-25 percent over the last seven days and trade volumes have picked up over the last week as well. The trend reversal has given enthusiasts and traders a bit more optimism as most cryptocurrency markets seem to be rebounding back from the recent correction of close to 70 percent since the highs last December.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Cryptocurrency Markets See Brighter Skies This July

With about $16.5Bn in 24-hour trade volume, the 1600+ cryptocurrencies within the digital asset economy have seen some big improvements since last week. A few days ago the cryptocurrency space saw some northbound action after dumping non-stop over the last six months. At the moment the top digital assets by trade volume include bitcoin core (BTC), tether (USDT), ethereum (ETH), EOS, and bitcoin cash (BCH). These five assets are up between 0.5 to 2 percent over the last 24 hours.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

BTC Market Action

BTC market action has seen some increased trade volume today on July 6, 2018, as markets are averaging around $5.23Bn. The cryptocurrency’s market valuation is hovering at $114Bn and BTC is up around 11.7 percent over the last seven days. The top five exchanges swapping the most BTC today are Bigone, Binance, ZB.com, Huobi, and Okex. At the moment the Japanese yen is capturing around 48.2 percent of BTC trades. This is followed by Tether (USDT 36.7%), USD (9.6%), KRW (1.9%), EUR (1.3%). The most popular trade on the peer-to-peer exchange Shapeshift this Friday is ETH for BTC.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

BTC/USD Technical Indicators

At press time BTC is averaging around $6,574 as bulls are desperately trying to surpass current resistance. Looking at the 4-hour and daily charts on Bitstamp and Coinbase shows the two Simple Moving Averages (SMA) have shifted since our last markets update. The long-term 200 SMA is above the short term 100 SMA indicating the path of least resistance is towards the downside. Bulls need to muster up enough strength to pass the $6,800 range in order to make a dent at the $7K region again.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July
BTC/USD July 6, 2018, 4-hour chart.

RSI levels on the 4-hour chart show some recovery (53) as traders just experienced some overbought conditions (73) about an hour ago. Looking at order books shows the resistance is at the current vantage point up until $6,800 but buyers will struggle around $7K through $7,300 as well. On the back side if bears managed to grab the reins then there are some solid foundations between $6,400 to $5,800 with monstrous support after that too. There’s a good chance bulls can keep up the good fight but some market exhaustion would make them extremely vulnerable.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July
BTC/USD July 6, 2018, daily chart.

BCH Market Action

BCH market action today is decent as well as the decentralized cryptocurrency is seeing about $436Mn in daily trades. The current market capitalization is roughly $12.63Bn at the time of writing. As we approach the weekend the top five exchanges today swapping the most BCH include Bigone, Okex, Huobi, EXX, and Hitbtc. This week BTC is not the top traded currency with BCH today as tether (USDT) is commanding the top pair with BCH by 45.9 percent. Tether is followed by BTC (32%), USD (10.1%), KRW (3.33%), and ETH (3.18%). Bitcoin cash is also the fifth most traded digital asset by trade volume today on July 6.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July  BCH/USD Technical Indicators

BCH charts show the spot price at the time of writing is $729 per coin on the exchange Bitstamp. Looking at both Bistamp and Bitfinex 4-hour charts show the same action as BTC, as far as SMA trendlines are concerned. At the moment the 200 SMA is above the 100 SMA which indicates resistance will be much tougher towards the upside.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July
BCH/USD July 6, 2018, 4-hour chart.

RSI levels show the oscillator at 53 at the moment too as BCH markets also revisited overbought conditions over an hour ago. Right now BCH bulls need to crank past $770 to make a solid move towards the lower $800s. Now if things went southbound then there’s pretty good foundations between now and $660. If BCH bulls can brush past the lower $800s, jumping to $900 faster is not out of the question.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July
BCH/USD July 6, 2018, daily chart.

The Top Cryptocurrency Positions

Most of the top cryptocurrencies are seeing gains this Friday and the digital currency tether has made the top ten spot. The second highest market valuation below BTC is ethereum (ETH) which is up 1.91 percent today.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

One ETH is trading for $477 and the currency has seen a 13.4 percent gain over the last seven days. Ripple (XRP) markets are up 0.22 percent today as an XRP currently trades for $0.47 cents. Lastly, the fifth highest capitalization is still held by EOS but markets are down 2.5 percent over the last 24 hours as one EOS trades for $8.55.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

The Verdict: Optimistic Traders Hope This Week’s Market Action May be a Bit More Than a Mere Dead Cat Bounce

The verdict this week is far brighter for cryptocurrency markets as we approach the weekend trading sessions. People are still skeptical about the bear market ending and wonder if we are just seeing a mere dead cat bounce but most seem hopeful. Furthermore, most short positions continue to liquidate big players and long positions are growing on most trading platforms that offer leveraged margin trading on exchanges such as Bitmex, and Bitfinex.

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

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


Images via Shutterstock, Trading View, Coinlib.io, and Satoshi Pulse.


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

The post Markets Update: Cryptocurrency Prices Rebound During the First Week of July appeared first on Bitcoin News.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

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

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

The Crypto-Bears Are Back

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

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Bitcoin Cash Market Action

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

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

BCH/USD Technical Indicators

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

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Bitcoin Core Market Action

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

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

BTC/USD Technical Indicators

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

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

The Top Crypto-Markets Tumble — EOS Suffers

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

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

The Verdict: Skepticism Remains Strong

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

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

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

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

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


Images via Shutterstock, Trading View, Coinlib.io, and Satoshi Pulse.


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

The post Markets Update: Cryptocurrency Prices Tumble Before the Weekend appeared first on Bitcoin News.

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

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

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

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

SEC Announcement Adds Second Wind Into the Cryptocurrency Market Sails

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

BCH Market Action

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

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

BCH/USD Technical Indicators

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

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

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

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

BTC Market Action

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

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

BTC/USD Technical Indicators

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

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

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

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

The Top Cryptocurrency Markets

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

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

The Verdict: Skepticism Remains Strong

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

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

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


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


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

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

Markets Update: Crypto Prices Take a Weekend Beating

Markets Update: Crypto Prices Take a Weekend Beating

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

Also Read: CFTC Subpoenas Leading Exchanges for Trading Data

Crypto Markets Take a Jab to the Gut This Weekend

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

BTC Market Action

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

Markets Update: Crypto Prices Take a Weekend Beating

BTC/USD Technical Indicators

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

Markets Update: Crypto Prices Take a Weekend Beating

BCH Market Action

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

Markets Update: Crypto Prices Take a Weekend Beating

BCH/USD Technical Indicators

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

Markets Update: Crypto Prices Take a Weekend Beating

The Top Cryptocurrency Markets

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

Markets Update: Crypto Prices Take a Weekend Beating

The Verdict: Skepticism and the Search for That Confounded Bottom

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: Crypto Prices Take a Weekend Beating appeared first on Bitcoin News.

Markets Update: Digital Currency Market Bulls Push Back After Decline

Markets Update: Digital Currency Market Bulls Push Back After Decline

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

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

Cryptocurrency Markets See a Short Term Push Upwards

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

Bitcoin Cash Market Action

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

BCH/USD Technical Indicators

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

Bitcoin Core Market Action

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

BTC/USD Technical Indicators

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

The Top Digital Assets Today

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

Markets Update: Digital Currency Market Bulls Push Back After Decline

The Verdict: Skepticism Remains

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

 

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