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.”


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

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

In the fast-paced world of cryptocurrency, 2016 feels like a lifetime ago. For many of the top cryptocurrency exchanges at the time it effectively was; several have fallen by the wayside and eight out of the top ten platforms by trading volume have lost their spot. It’s not just vintage altcoins that time has been unkind to: the same holds true for many of the exchanges that once listed them.

Also read: Faast Platform Connects With Popular Wallets Offering Cross-Chain Swaps

8/10 of the Top Cryptocurrency Exchanges Have Lost Their Place

80% of the Top Cryptocurrency Exchanges From 2016 Have Been ReplacedOver the past two years, the makeup of the top cryptocurrency exchanges has changed dramatically – and so has the volumes traded. In August 2016, Coinmarketcap records the top exchange as being Okcoin.cn, with a 24-hour volume of $440 million. Today, it’s ranked 188th, with a trading volume of just $17,000. Then, as now, BTC  and LTC were the top traded pairs.

Second on the list for trade volume in 2016 was Btctrade, with 24-hour volume of $218 million. Today, it sits in 54th place with volume of just $23 million. BTC and Ybcoin were its top traded pairs back then, the latter a Chinese coin which died in 2017. Today, Btctrade’s top pairs are BCH and ETH. Of the entire top 10 from 2016, just two exchanges remain there – Huobi and Kraken. Huobi occupied third place then and it lies in fourth spot today, despite its 24-hour volume having grown from $165 million to $1.3 billion. This is naturally a reflection of the increase in value that digital assets such as bitcoin have enjoyed in this period.

80% of the Top Cryptocurrency Exchanges From 2016 Have Been Replaced
The top three exchanges in August 2016

A Lot Can Happen in Two Years

Here’s how the top ten cryptocurrency exchanges looked two years ago and today:

1. Okcoin.cn (188th now). Today: Bitmex

2. Btctrade (54th now). Today: Okex

3. Huobi (4th now). Today: Binance

4. CHBTC (dead now). Today: Huobi

5. BTCC (38th now). Today: Bitfinex

6. Poloniex (29th now). Today: Upbit

7. BTC100 (dead now). Today: Bithumb

8. Btcbox (25th now). Today: Hitbtc

9. Itbit (39th now). Today: GDAX

10. Kraken. Today: Kraken

Many people write altcoins off as having no permanency and predict that the majority of cryptos will die a slow death. They may well be right, but as a look at the dominant cryptocurrency exchanges from 2016 shows, few enterprises live long. The churn rate for exchanges exceeds even that of the coins themselves. Coinmarketcap listed 105 exchanges in 2016, versus 213 today, though only 60% of the listed exchanges back then had any sort of meaningful volume of over $10,000 a day. Even accounting for inflation, 90% of today’s exchanges have some semblance of a respectable volume.

80% of the Top Cryptocurrency Exchanges From 2016 Have Been ReplacedAmong the coins that accounted for the top trading volume in 2016 you’ll find Maidsafe, Nxt, Dogecoin, and even The DAO. Today, most people would agree that the top 10 exchanges have gotten better. Whether the top 10 cryptocurrencies, outside of bitcoin, have improved in quality is another matter. A final indicator of how much the landscape has changed in two years comes from the total trading volume. In August 2016, the top 10 exchanges saw just over $1 billion in cryptocurrencies traded in a day. Today, that figure stands at $10.6 billion. It will be interesting to see, two years from now, how many of 2018’s top exchanges are still standing.

How many of 2016’s top 10 exchanges do you recall? Let us know in the comments section below.


Images courtesy of Shutterstock and Coinmarketcap.


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Caspian Partners With Bitmex to Offer All-In-One Portfolio Services

Caspian Partners With Bitmex to Offer All-In-One Portfolio Services

On May 23 the cryptocurrency portfolio and risk management platform Caspian Tech announced a partnership with the Seychelles based trading platform the Bitcoin Mercantile Exchange (Bitmex). The move aims to bring Caspian closer to being an all-in-one platform with access to multiple exchanges.

Also read: Bitcoin in Brief Friday: Luxury Jets, Cheap Air Tickets Now Offered for Bitcoin Cash

Full Stack Portfolio Management Firm Caspian Partners With Bitmex

Caspian Partners With Bitmex to Offer All-In-One Portfolio Services The firm Caspian is making partnerships across the cryptocurrency ecosystem in order to become an all-in-one institutional, investor-focused portfolio management system. This week the firm partnered with Bitmex so now Caspian customers will have a unified trading module with more liquidity. Additionally, the firm provides Order and Execution Management System (OEMS), Risk Management System (RMS), and a Portfolio Management System (PMS).

Arthur Hayes, the co-founder of Bitmex, says the collaboration with Caspian makes sense because “Bitmex employs the latest in multi-factor security, inside and out.”

Bitmex offers quite a bit of liquidity as in the last 30 days the exchange has managed to swap $3Bn in trade volume. The firm offers leveraged trading and futures for multiple cryptocurrencies and claims to have “300 percent more Bitcoin/USD liquidity than any other platform.” Robert Dykes, CEO of Caspian, believes the company can leverage the firm’s multi-factor security – which is an issue of increasing interest to the company’s target market.               

“Our aim at Caspian is to drive exponential growth in crypto-trading participation amongst institutional and sophisticated investors,” Dykes explained during the announcement.

Caspian Partners With Bitmex to Offer All-In-One Portfolio Services
Bitmex states they have 300 percent more Bitcoin/USD liquidity than any other cryptocurrency trading platform.

Caspian Has Also Partnered With the OTC Fund Octagon and the Gemini Exchange

Essentially Caspian is a joint venture tethered to the firm Tora which provides an OEMS global trading platform alongside a blockchain firm called Kenetic. The company says its main mission is to offer sophisticated traders bank-grade security and trading technology. This month Caspian has been making partnerships with market makers like Bitmex as the firm recently partnered with Octagon, Asia’s largest OTC crypto-fund, and the Gemini exchange on May 4. The news follows many cryptocurrency exchanges looking to offer institutional grade financial services within their platforms while Caspian hopes to provide a Swiss army knife of exchanges.

What do you think about the Caspian services partnering with exchanges to offer a sophisticated trading service for institutional investors? Let us know your thoughts on this subject in the comments below.


Images via Shutterstock, Caspian, and Bitmex. 


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Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

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

Also Read: Bank in Argentina Launches BTC Settlement Services

Stormy Weather Continues to Dump on Crypto-Markets This Spring

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

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Bitcoin Cash (BCH) Market Action

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

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

BCH/USD Technical Indicators

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

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

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

Bitcoin Core (BTC) Market Action

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

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

BTC/USD Technical Indicators

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

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

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

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

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

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets

Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets

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

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

BCH Markets Down 20% This Week

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

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

BCH/USD Technical Indicators

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

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

A Brief Glimpse at Overall Cryptocurrency Market Action

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

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

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

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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“Honest Coinmarketcap” Claims to Provide Accurate Cryptocurrency Data

“Honest Coinmarketcap” Claims to Provide Accurate Cryptocurrency Data

In the last 24 hours, $7 billion worth of bitcoin (BTC) was traded globally. That’s according to data provided by Coinmarketcap, the industry’s go-to aggregator of cryptocurrency data. Not everyone agrees with that figure however. “Honest Coinmarketcap” is a new project that aims to set the record straight and do away with inflated trade volumes.

Also read: Study Finds $3B Worth of Faked Cryptocurrency Volumes and Wash Trades

“Honest CMC” Alleges Massive Fake Volume

“Honest Coinmarketcap” Claims to Provide Accurate Cryptocurrency DataAllegations of wash trading and fake volume have dogged the cryptocurrency markets for years. If true, this behavior is not the fault of Coinmarketcap (CMC). But it is the duty of sites such as CMC to report data accurately, for their own reputation and for the sake of everyone in the cryptocurrency space. Due to the way it pulls its data from exchanges, exacerbated by the way these platforms record trading activity, Coinmarketcap has come in for criticism.

In an attempt to obtain a true picture of global cryptocurrency volume, Andrew Rennhack has created an alternative to CMC that he’s dubbed “Honest Coinmarketcap”. The project is rudimentary, and does not account for the many variables that can affect a coin’s trading volume. If its data is to be believed, however, cryptocurrency trading volumes have been massively overstated.

Trading Volumes Could Be Overstated by 80% or More

“Honest Coinmarketcap” Claims to Provide Accurate Cryptocurrency DataClicking on the second tab in the Honest Coinmarketcap spreadsheet compares the listed and true volume for popular cryptocurrencies traded against various fiat currencies. It reports BTC and ETH’s volume as being 80% fake, with XRP and BCH faring slightly better at 43% and 70% respectively. Most other coins in the top 20 by market cap have fake volume of between 40% and 90%.

Although the data produced by Honest CMC should not be taken as gospel, its findings do tally with a previous report that claimed trading volume on some exchanges to be exaggerated by as much as 95%. Given Coinmarketcap’s dominance – the site now ranks among the world’s top 400 websites – it will continue to serve as the industry benchmark for trading data. Unless CMC changes the way it captures its raw data, trade volumes will remain unadjusted, no matter how inaccurate they may be.

Do you think trading volume is overstated and if so do you think it’s the obligation of Coinmarketcap to record this? Let us know in the comments section below.


Images courtesy of Shutterstock.


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BCH Ecosystem Grows With May 4X Hard Fork Less Than Two Weeks Away

BCH Ecosystem Grows With May 4X Hard Fork Less Than Two Weeks Away

This week there’s a lot going on within the Bitcoin Cash (BCH) ecosystem as markets have been on fire and infrastructure continues to grow. Over the past six months, the price of BCH is up over 139 percent, and the price has jumped 13 percent higher over the last seven days. At the moment the value of BCH hovers just above the $1,500 USD price region, and traders have been swapping over $1.2Bn worth of bitcoin cash over the last 24-hours.

Also Read: Australia Cracks Down on Misleading and Deceptive Initial Coin Offerings

BCH Markets Up Over 139% Over the Past Six Months

Bitcoin cash markets have been on a roll for a few weeks now as the cryptocurrency continues to see gains. At the moment, it’s less than two weeks until the upcoming May 15 hard fork, which will up the block size to 32 MB, and re-enable some OP_Codes as well. This week lots of action has been taking place across both BCH markets and the increase of BCH infrastructure as well. Presently the BCH chain is over 7,500 blocks ahead of the Bitcoin Core (BTC) chain. Additionally, BCH is operating at 15.21 percent of BTC’s difficulty and it is 3 percent more profitable to mine BCH today. Market action shows the top five exchanges today swapping the most BCH are Okex, Bitfinex, Upbit, Houbi, and Bithumb.

BCH Ecosystem Grows With May 4X Hard Fork Less Than Two Weeks Away

BTC is the most traded currency swapped for BCH on May 3rd capturing 39 percent of all trades. This is followed by tether (USDT 22%), USD (18%), Korean won (16.2%) and the euro (1.5%). The Korean won has made a noticeable increase with BCH pairs over the past week, and volumes from Bithumb and Upbit reflect these metrics. Currently, there are 17,107,588 BCH in circulation which holds a market valuation of over $25Bn USD.

Growing BCH Infrastructure and Positive Community Sentiment

BCH infrastructure and support has increased significantly as multiple project and announcement were made this week. Blockchain Wallet announced that BCH balances are now visible in iOS mobile wallets. This week the platform Memo got some upgrades and has been seeing a bunch of traction. Following this, a new social media app that works similarly to Memo was launched yesterday called Blockpress. News.Bitcoin.com took Blockpress out for a test flight and talked with its developer yesterday.

BCH Ecosystem Grows With May 4X Hard Fork Less Than Two Weeks Away

A bunch of automobiles branding the bitcoin cash symbol were found across the globe this week, with a cool BCH Jeepney in the Philippines. Moreover, BCH is trending in mentions on the social media platform 4chan as well. BRD wallet released its ‘Augustus’ version which now fully supports bitcoin cash and in-wallet trades. Lastly, Bitpay developers upgraded the firm’s Bitcore-lib-cash protocol which adds support for the May 15 hard fork for new OP_Codes, updated carrier size, and bigger blocks.

BCH Ecosystem Grows With May 4X Hard Fork Less Than Two Weeks Away

Overall Bitcoin Cash proponents are excited about the future of the BCH economy and its growing development environment. The hard fork is getting close and supporters are also looking forward to the next upgrade which should add more robust features to the BCH network. Right now the 32 MB block size, the increased default datacarriersize, and re-enabled Satoshi OP_Codes are just three things pending activation. Alongside this, the construction of UTXO commitments, changing the Difficulty Adjustment Algorithm (DAA) so it improves BCH block times while also adding a PID control algorithm, enabling binary contracts, and the block propagation protocol Graphene is currently under development.

What do you think about the bitcoin cash ecosystem’s growth these past few weeks? Let us know your thoughts on this subject in the comments below.


Images via Reddit, Pixabay, and Satoshi Pulse. 


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Bitcoin Futures Markets See a Big Uptick in Trade Volume

Bitcoin Futures Markets See a Big Uptick in Trade Volume

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

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

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

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

Bitcoin Futures Markets See a Big Uptick in Trade Volume

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

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

Bitcoin Futures Markets See a Big Uptick in Trade Volume

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

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

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

Bitcoin Futures Markets See a Big Uptick in Trade Volume

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

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

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


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


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Markets Update: Cryptocurrencies Erase Two-Day Losses

Markets Update: Cryptocurrencies Erase Two-Day Losses

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

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

Cryptocurrencies Rebound Erasing Most of the Week’s Losses

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

Markets Update: Cryptocurrencies Erase Two-Day Losses

BTC/USD Technical Indicators

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

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

Bitcoin Cash Markets See Recovery

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

BCH/USD Technical Indicators

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

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

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

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

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

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


Images via Shutterstock, Trading View, and Coinmarketcap.


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

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

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

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

Bitcoin Cash Markets Surge

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

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

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

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

  BCH/USD Technical Indicators

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

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

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

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

BCH Infrastructure and Support Grows This Week

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

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

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


Images via Shutterstock, Shapeshift, Coin Salad, Trading View, and Coinmarketcap.


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

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

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

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

BTC Markets See Gains of 10 Percent

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

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

Technical Indicators

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

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

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

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

The Top Digital Assets

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

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

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

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

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

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


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


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Markets Update: Cryptocurrency Prices See Some Slight Recovery

Markets Update: Cryptocurrency Prices See Some Slight Recovery

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

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

Some Brief Market Recovery

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

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

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

Technical Indicators

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

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

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

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

The Top Digital Asset Markets

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

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

The Verdict: Sentiment Across Market Participants Remains Extremely Skeptical

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

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

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


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


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Markets Update: Cryptocurrency Prices Begin to Sink Once Again

Markets Update: Cryptocurrency Prices Begin to Sink Once Again

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

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

BTC Sees Another Drop Below $8,000 USD

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

BTC/USD Technical Indicators

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

Markets Update: Cryptocurrency Prices Begin to Sink Once Again

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

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

Bitcoin Cash Markets Continue to Follow a Similar Correlated Pattern

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

BCH/USD Technical Indicators

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

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

The Verdict: Crypto-Traders Uncertainty and Doubt Remain

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

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

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


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


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

The post Markets Update: Cryptocurrency Prices Begin to Sink Once Again appeared first on Bitcoin News.

Markets Update: Crypto Values Drop to Lower Vantage Points

Markets Update: Crypto Values Drop to Lower Vantage Points

The price of cryptocurrencies across all markets has been dropping in value quite a bit over the past 48 hours. BTC/USD markets started tumbling on March 5, after the price reached a high of $11,650 during the evening trading sessions. Following the peak, the value dropped to $10,600 on March 6 losing $1,000 in value. Further, the next day on March 7 after the U.S. Securities and Exchange Commission (SEC) warned about unlawful trading platforms, BTC/USD values slid once again losing another 20 percent.

Also Read: Japan’s SBI Holdings Claims 40% Stake in Hardware Wallet Company

Cryptocurrency Markets Have Been in a Downward Slump

Cryptocurrencies have lost some fiat value over the past few days as the entire market of over 1,500 digital assets has shaved billions off the overall market capitalization. Currently, the aggregated valuation of all digital assets is roughly $400 billion at the time of publication. At the moment BTC/USD markets are averaging $9,200, after coasting along at above $9,800 a few hours ago. Volume is a touch higher than last week with $9.3Bn in 24-hour global trade volume. BTC dominance amongst all 1500 digital assets within the crypto-economy is roughly 41 percent today.

Markets Update: Crypto Values Drop to Lower Vantage Points Right now the Japanese yen is still dominating global trade volumes by 48 percent. The is followed by the U.S. dollar (27%), tether (USDT 12.4%), the euro (4.9%) and the Korean won (3.8%) The euro has made a jump from fifth position to fourth, knocking out the Korean won this week. The top five exchanges trading the most BTC this week are Bitfinex, Binance, Okex, GDAX, and Upbit. The Japanese exchange Bitflyer and the European platform Bitstamp are right behind Upbit with strong volumes as well. According to Shapeshift statistics, the pair swapped the most today is ETH for BTC.

Markets Update: Crypto Values Drop to Lower Vantage Points
Prices earlier this morning have managed to get closer to the $10K region. But a few hours later markets dumped to $9,079 per BTC after meeting resistance. 

Technical Indicators

Looking at BTC/USD charts show some consolidation is forming in this region and BTC price movements are strongly correlated with nearly every other digital asset. MACd is meandering downwards after bulls managed to bring the price closer to $10K during the March 8 morning trading sessions. However, markets have dropped to just above the $9K zone just a few hours later. RSI and Stochastic levels are below the 50.00 indicating some more consolidation and possibly some lower prices in the near future. Both Simple Moving Averages (SMA) have a large gap in between them with the longer term 200 SMA well above the 100 SMA. This means bears have a tight grip ride now and the path of resistance may continue to the downside.

Markets Update: Crypto Values Drop to Lower Vantage Points
Today BTC/USD market prices are averaging roughly $9,700-9,900 over the past 4-hours. At approximately 12 pm EDT BTC/USD market prices slid again to a low of $9,079.

Buying volume and order books suggest a different story and bulls could manage to move past the sudden 15 percent drop over the past three days. Resistance past the $10K mark isn’t too bad, but there is a monster-sized sell wall leading all the way up to $10,500. Past that point bulls have to still push past the resistance at $10,800, and from there it may be smoother to forge northbound. On the back side, order books show some pretty good support up until $9,300, and things start looking thinner. After the Displaced Moving Average (DMA) at $9,100 broke, a decline to the $8-8.5K range is now looking more viable.

The Top Cryptocurrency Markets In General

Twenty four hour volumes for the top 100 cryptocurrencies are all seeing percent losses minus four assets. Most coins are seeing losses between 2-20 percent today. Ethereum (ETH) markets are down 5 percent as one ETH is averaging $749 per token. Ripple (XRP) prices are also seeing losses, and at the moment its values are down 5.8 percent. An XRP is roughly $0.85 cents at press time and holds the fifth highest trade volumes today.

Markets Update: Crypto Values Drop to Lower Vantage Points

The fourth highest valued cryptocurrency market capitalization held by bitcoin cash (BCH) is seeing losses around 7.9 percent. One BCH is averaging $1,084 per coin, and its markets have the 7th highest trade volumes today. Lastly, the fifth position is occupied by litecoin, but its prices are also down 5.8 percent as one LTC is $182. Of course, the second highest trade volume during the past 48 hours of trading belongs to tether (USDT) the digital asset that holds stability with the price of USD. Tether has $3.2Bn in 24-hour volume today, and the currency is worth a penny more than a U.S. dollar due to demand.

The Verdict: Short-Term Bearish Sentiment and Uncertainty

Optimism has definitely declined considerably recently as multiple outside forces have affected the cryptocurrency ecosystem. The SEC warning about unlawful exchanges shook up markets quite a bit yesterday. Another factor shaking up market optimism is the Mt Gox trustee for the Tokyo courts who has been selling millions of dollars worth of both BTC and BCH. The community is concerned because the trustee has a lot more BTC and BCH to sell and no one knows when he is going to dump the coins on the open market. Further regulatory actions from governments all around the world have been stirring markets considerably, and crypto enthusiasts and traders are uncertain about what the nation states will do.

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

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


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Bitcoin Cash Markets Recover — While Infrastructure Support Increases

Bitcoin Cash Markets Recover — While Infrastructure Support Increases

This past week bitcoin cash (BCH) markets have been suffering from the bearish sentiment plaguing cryptocurrencies across the board. On February 6 the price of BCH reached a low of $740 per coin but has since bounced back to the $950-1,050 region on Bitstamp Tuesday evening.

Also Read: Australian Freeze: Big Aussie Banks Denying Bitcoiners

Bitcoin Cash Markets Begin to See Recovery Ahead

This week bitcoin cash markets took a hit as BCH had lost roughly $588 USD (-39%) in value over the past seven days. At the moment the price has rebounded and is coasting along at just between the $950-1,050 zone after bouncing back much of Wednesday’s trading sessions. BCH trade volume has been averaging roughly $650 million to $1 billion over the past week. Exchanges swapping the most bitcoin cash today include Okex, Bitfinex, Hitbtc, GDAX, and Huobi. Currently, the top currencies traded with bitcoin cash include BTC (57%), USD (21%), tether (USDT 11%), the Korean won (4%), and the euro (2%).

Bitcoin Cash Markets Recover — While Infrastructure Support Increases
On February 7, 2018, the price of bitcoin cash is hovering around $1,020 at the time of publication.

New Localbitcoincash Features, Openbazaar Integration, and a Bitcoin Cash SMS Application  

Bitcoin Cash Markets Recover — While Infrastructure Support Increases
Cointext screenshot.

Even though markets were down this past week, the bitcoin cash community got a bunch of infrastructure support and new applications. For instance, everyone in the BCH community is talking about a new app called Cointext which aims to create the ability to send bitcoin cash through text (SMS). According to the creators, all texts are on-chain transactions like the tipping platform Chaintip. However, with the platform being so new, some BCH supporters are skeptical of this project being secure when used via text messages.

Another interesting BCH feature announced this week came from the Localbitcoincash exchange which announced it had added skycoin and smartcash services to the platform. The implementation features no fees to these types of trades, explains the exchange developers. “No fee exchange is exactly what it is, it’s totally free, and you can keep exchanging the different cryptocurrencies supported by our platform, and there are no trading fees involved,” Localbitcoincash reveals on February 7.

Bitcoin Cash Markets Recover — While Infrastructure Support Increases
Openbazaar integrates bitcoin cash, and zcash this past week.

Just recently the decentralized cryptocurrency infused marketplace Openbazaar integrated bitcoin cash and zcash into the latest 2.1.0 version.

“This release is the first step towards allowing more options for cryptocurrencies in Openbazaar — It includes native support for nodes using one cryptocurrency at a time, bitcoin, bitcoin cash, or zcash,” explains the Openbazaar developers.

Bitcoin Cash Markets Recover — While Infrastructure Support Increases
The AcceptBitcoin.Cash website has added an adult section to the portal.

Another addition to the BCH infrastructure is the AcceptBitcoin.Cash website has added an adult section to the portal. The developers of the website believe there is a demand for adult merchants to start accepting bitcoin cash. Further, the team said it has seen over 70 submissions since it implemented a request form, and the team added nearly every single merchant to the site in under three weeks of usage.

BCH Supporters Remain Optimistic

In other news this week a fake bitcoin cash token was created on the Omni layer chain. According to reports, the Omni chain’s ability to generate asset tokens was used to create a misleading BCH token. BCH supporters think the token was created to cause confusion while adding to the growing list of scammy snapshot forks that have come into existence over the past few months.

Overall the BCH community is in high spirits even with the past few weeks of bearish market sentiment. The protocol continues to get support nearly every day from exchanges, wallets, and merchants. Bitcoin cash markets are also starting to gather steam again alongside the rest of the cryptocurrencies who got hammered this past weekend.

What do you think about BCH market sentiment, support, and added infrastructure this week? Let us know what you think in the comments below.


Images via Shutterstock, Cointext, Openbazaar, and Acceptbitcoincash.


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Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows

Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows

Cryptocurrency markets are suffering from new lows on the first of February as nearly every digital asset is down 3-20 percent. Since the last week of December 2017, bitcoin core (BTC/USD) markets are seeing a continuous downward spiral not seen since 2014. At the moment BTC is desperately trying to climb above the $9K region at $8,950 but buying pressure is showing signs of some flat trade volume across the boards.

Also Read: U.S. Rating Agency to Issue Bitcoin and Cryptocurrency Grades 

BTC/USD Markets See the Most Continuous Price Dumps Since 2014

Last week digital assets were at a crossroads and many bitcoin traders expected either one of two scenarios — either the dumps were over, or markets would continue to slide in value. Trade volume has been weaker this week as global markets are only swapping $8-10Bn during 24-hour trading session intervals.

Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows
Bollinger Bands (BTC/USD Coinbase) are getting tighter indicating another big move will be imminent.

The top five exchanges trading the most BTC include Okex, Bitfinex, Binance, Bitflyer, and Upbit. BTC trading with the USD has dropped significantly since last week as the Japanese yen now commands the top currency pair position. The yen leads by 47.8 percent which is followed by the USD (29%), tether (USDT 9%), euro (7%) and the Korean won (2.7%). The South Korean won’s volume with BTC has dropped considerably over the past two weeks. The most-traded digital asset right now according to Shapeshift is ethereum (ETH).

Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows
The Japanese yen controls the most trade volume by currency on February 1, 2018.

Technical Indicators

BTC/USD technical indicators show the decentralized digital asset has erased most of its gains over the sixty-day average. Cryptocurrencies are suffering the most continuous losses since 2014, and traders are uncertain about the current ‘true market value.’ The two Simple Moving Averages both short-term (100 SMA) and long-term (200 SMA) have converged once again on January 30. The 200 SMA is well above the short-term 100 trendline which indicates bears will relentlessly keep pushing the value towards the downside.

Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows
RSI Stoch-levels 2/1/18

At the moment RSI and Stochastic have room to move northbound, and a spike could be in the cards today. Bollinger bands are incredibly tight which indicates an elastic-like rebound could also play out over the next 48-hours. However, traders believe it will likely be a bull trap with the current market sentiment and predictions of hitting the lower $8K regions ($8,200-8,400). Order books show some crucial foundations between $8,900 to $8,200 if things continue to fall to the back side. On the flip side, the upward path has less resistance all the way back to the $10K region.

Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows
At press time BTC/USD markets are desperately trying to exceed the $9K price region hovering around $8,950. 

Cryptocurrency Markets, In General, See Major Losses Except for Ethereum

Cryptocurrency markets, in general, are all in red minus a few digital assets. Ethereum’s value has been the strongest over the past two weeks even quietly touching an all-time high. At the moment the second highest capitalization held by ethereum shows markets are down 4.9 percent as one ETH has an average price of $1,050. The second highest valued cap still belongs to ripple (XRP) but markets are down 12.4 percent, and XRP is $0.98 per coin. Bitcoin cash (BCH) is following the downward trend as well as BCH markets are down 13.2 percent with an average of $1,285 per token. Lastly, Cardano ADA is down significantly, with prices seeing a percentage loss of around 16 percent. Cardanos are worth 0.42 per ADA at the time of publication.

Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows
Every digital asset is seeing significant losses in gains. Ethereum (ETH) has performed better than most over the past seven days.

Large Swathes of U.S. Investors Move to Equities Markets for Tax Cuts, While Crypto-Traders Try to Predict the Next Big Price Move   

Market sentiment across the boards is extremely bearish right now, and many traders expected the lowerbound $8K zone to happen. Many believe most cryptocurrencies are in deep search of their ‘fair market’ values after rising so fast two months ago. Alongside this USD trade volume commanded quite a bit of trading but since the recent U.S. tax cuts for equities markets, new money has likely jumped to those investment vehicles. With the special incentives for tax cuts, U.S. equities markets have been on fire since the announcement this past week. Further, there’s been nothing but negative news tied to cryptos, and uplifting news doesn’t seem to be in the pipeline right now. For now, some speculators believe prices could still drop to $5-7K per BTC while others think there will likely be a big rebound either at our current vantage point or around $8,200-8,400 if prices sink that low.

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

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


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The post Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows appeared first on Bitcoin News.

Markets Update: Cryptocurrency Prices Rebound But Uncertainty Still Lingers

Markets Update: Crypto Prices Rebound But Uncertainty Still Lingers

After the past few weeks of bearish market sentiment within the cryptocurrency economy, a wide variety of digital assets are starting to gain higher values. BTC/USD markets have hit a 24-hour high of $13,050 on January 20, after slowing creeping upwards from the low $10K range. Overall nearly every token market is up today anywhere between 2-50 percent higher than yesterday.

Also read: Japan’s GDP Grows Due to Bitcoin Wealth Effect

The Market Storm Has Subsided, But What Lies Ahead Is Whole Lot of Uncertainty

Markets Update: Crypto Prices Rebound But Uncertainty Still LingersCryptocurrency markets have seemingly reversed the downward trend in value and have started to gain steam again. At the moment bitcoin core markets are hovering around $12,650-12,950 for the three hours. Volume is decent for a Saturday, as BTC markets are seeing roughly $11.6Bn in global trade volume while bitcoin core, ethereum, and tether are hold the highest trade volumes today. The top exchanges swapping the most BTC this weekend include Upbit, Bitfinex, Okex, Bithumb, and Binance. The South Korean exchange Upbit has been trading some notable volumes over the past few weeks and has become one of the largest exchanges worldwide.

Over the past few weeks, the U.S. dollar has been the top nation state issued currency traded with BTC. However this week Japan has taken the lead once again, as the yen now captures 36 percent of the global trade volume. This is followed by the USD (32%), tether (USDT 12.8%), the Korean won (7.5%), and the euro (4.9%). The most popular traded cryptocurrency paired with BTC on Shapeshift is still ethereum. The overall market capitalization of all 1,469 digital assets is $635Bn, and bitcoin core markets dominate by 34 percent at the time of writing.

Technical Indicators

Looking at the charts things are a bit more bullish than a few days prior. Volume is definitely not as strong but buyers are controlling the market, and BTC/USD market values continue to rise. At the moment there is deep resistance right now at the $13,000-13,150 zone but bulls have been slowly chipping away at those orders. It’s safe to say that BTC is struggling to break past crucial resistance levels which could lead to a sell-off point if things cannot hold.  

Markets Update: Crypto Prices Rebound But Uncertainty Still Lingers
RSI and Stochastic levels.

Currently, the two Simple Moving Averages (SMA) have changed courses since our last markets update. The short-term 100 SMA is still below the longer term 200 SMA which indicates the path to resistance will likely head southbound. However, both RSI and Stochastic oscillators are headed northbound showing more room for price improvements, but there’s also room to drop as well. At present order books show thicker sell walls above the $13,500 territory alongside even more in the $14K regions. On the backside, there is excellent support at the $12,200 through $11,900 zones, but after that, the books start to thin out. A lot of traders believe the storm is not over and expected a ‘dead cat bounce’ at $13K. These negative speculators think bitcoin could range between $9,000 to even $5,000 in the short term. More optimistic traders believe the storm is over and we should be heading towards the $16K zone over the next week while also reaching all new highs next month.

Markets Update: Crypto Prices Rebound But Uncertainty Still Lingers
The price of BTC couldn’t hold above $13K and has started to head downwards slightly. The price per BTC at press time is $12,740 USD.

Cryptocurrency Markets In General

As mentioned above most cryptocurrency markets are doing very well, and only tether is suffering today because many traders have exited that strategy so they can plot new positions. The second highest market cap is still held by ethereum (ETH) as the market value is up 12 percent. One ETH is averaging $1,163 per token, and the market is the second most traded cryptocurrency today. The third position is held by ripple (XRP) as its markets are up 4 percent and each XRP is priced at $1.60. Bitcoin cash BCH markets are up by 13.9 percent, and the currency is seeing over $800Mn in global trade volume presently. One BCH has an average price of around 2,014 per coin, and the market has a valuation of around $34Bn. Lastly, the fifth highest market cap is still controlled by Cardano (ADA) as markets are up 12 percent and each token is priced at $0.71 per ADA.

Markets Update: Crypto Prices Rebound But Uncertainty Still Lingers

Again many traders are uncertain of the short-term future that lies ahead as far as government crackdowns and reaching all-time highs. Many agree that so far bear market sentiment may not be over yet and newer lows could happen. If the price can breach past $14-15K rigorously, then the trend reversal could have more of a solid foundation. Bulls are maintaining some momentum at the moment, and the next 24-hours may show some clearer signs.

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

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


Images courtesy of Pixabay, Bitcoin Wisdom, Coinmarketcap, Reddit, and Bitstamp.


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The post Markets Update: Cryptocurrency Prices Rebound But Uncertainty Still Lingers appeared first on Bitcoin News.