before Archives -
President Donald Trump heads to Northern California on Saturday to see firsthand the grief and devastation from the deadliest US wildfire in a century amid confusion over how many people remain unaccounted for, the AP reports. Authorities confirmed a new death toll of 71 and say they are trying to…
Verne Troyer’s estate is getting a harsh reminder about the high cost of medical care, because it just got a hefty bill for his final days in an L.A. hospital. According to legal docs, obtained by TMZ, Valley Presbyterian Hospital slapped…
YG is so happy with the way Todd Gurley and the Rams are playing this season … dude just had to say thanks to the running back — WITH A DOPE NEW CHAIN!!! The superstar rapper is a huge L.A. Rams fan — and with the team off to one of its best…
Since our last markets update five days ago, a lot has changed as a good chunk of the top cryptocurrency markets have dipped in value over the last three and a half days. Bitcoin cash markets touched a high of $ 638 on Wednesday, Nov. 7, but now prices are hovering around $ 544 per BCH on Sunday, Nov. 11.
Digital Assets See Some Slight Losses Over the Last Three Days
Cryptocurrency markets have had an interesting week after a long period of boring price action and stability. Last week bitcoin cash markets lead the pack out of all 2000+ digital assets, climbing over 51% in value and touching a high of $ 638 per coin. Digital asset markets, in general, have all seen some slight losses as the top ten cryptocurrencies are down 1-3% except for stellar, cardano and the stablecoin tether. The entire market valuation of the whole crypto-economy is worth $ 215.9 billion and there’s been $ 11.5 billion in global trades over the last 24 hours.
Bitcoin core (BTC) prices are hovering around $ 6,406 per coin and there’s around $ 3.7 billion in global BTC trade volume today. Following the BTC action, ethereum (ETH) prices are around $ 211 per ETH and the cryptocurrency is down 0.3% this weekend. Ripple (XRP) is down 0.9% today and each XRP is being swapped for $ 0.50 per token. Lastly, eos (EOS) has been officially bumped out of the fifth largest market capitalization and stellar (XLM) has taken its place. Stellar is currently trading for $ 0.26 per token and markets are up this Sunday 4.5%.
Bitcoin Cash (BCH) Market Action
The fourth largest market capitalization held by bitcoin cash (BCH) is down 0.5% over the last 24 hours. Data stemming from the last seven days shows BCH is down 1.7% overall for the week. Currently, BCH is trading at an average of $ 544 per coin with a market valuation of about $ 9.4 billion. The last 24 hours of trade volume shows BCH markets swapped $ 641 million this weekend. The top exchanges swapping the most BCH today include Lbank, Okex, Hitbtc, Binance, and Huobi Pro. The trading pairs today dominating BCH markets include USDT (35.2%), BTC (35%), ETH (10.2%), USD (7.7%), and KRW (3.1%).
BCH/USD Technical Indicators
Looking at the 4-hour charts for BCH/USD on both Bitfinex and Bitstamp shows BCH bears may be feeling some exhaustion in the short term going forward. Currently, there looks like a trend shift is in the cards as the 100 Simple Moving Average (SMA) has crossed above the long-term 200 SMA. This indication is positive for the bulls as the path towards the least resistance is essentially the upside. The Relative Strength Index (RSI) shows things are meandering in the middle (-44.02) but definitely closer to oversold regions.
The stochastic oscillator indicates a similar reading and the MACd also shows there’s currently room for improvement going forward. Order books show a similar forecast too as bulls need to muster enough strength past the $ 566 region to gain a lot more momentum, and there will be another pitstop at the $ 600 zone. On the backside, there is plenty of foundational support at the time of publication between the current vantage point and $ 495.
The Verdict: Traders Assume the Pending Fork Will Affect Markets Before, During, and After the Fork
Most traders seem positive that the price of BCH will trend higher as the fork approaches due to the memories of prior forks in the past. The 100-day average shows there is a lot of room for improvement over the next four days. Furthermore, BCH/USD short positions are at an all-time high this weekend which means a good majority of traders are betting against a rise.
However, others believe that these traders are setting themselves up for a “big squeeze” and expect prices to spike unexpectedly. With the fork approaching and especially the contentious nature surrounding it, it will likely drive markets in certain directions before, during, and after the network changes. Per usual in crypto-land, bitcoin traders are expecting the unexpected to take place next week and most are just crossing their fingers hoping they chose their positions correctly.
Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comments 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: All Eyes on Bitcoin Cash Prices Before the Pending Fork appeared first on Bitcoin News.
Throughout his 21-month roller-coaster ride as the nation’s top law enforcement official, Jeff Sessions had not flinched.
JERUSALEM (AP) — More than a decade before the Nazis seized power in Germany, Albert Einstein was on the run and already fearful for his country’s future, according to a newly revealed handwritten letter.
The spectacle of the Ariana Grande-Pete Davidson breakup may outlast the actual relationship: Grande dropped a single Saturday night, 30 minutes before Davidson was to appear on the latest episode of Saturday Night Live, reports BuzzFeed , and in a single verse of “Thank U, Next,” called out to a laundry…
UPDATE 8:05 PM PT — Check out the post and hear the new song. Ariana Grande isn’t going to let Pete Davidson define their relationship and breakup on “Saturday Night Live” tonight, because TMZ has learned she’s releasing a song 30 minutes…
Double murderer Edmund Zagorski was executed by electric chair Thursday night after the US Supreme Court denied an appeal that argued forcing him to choose between electrocution and lethal injection was unconstitutional. Witnesses say the 63-year-old inmate’s final words before the execution were “Let’s rock,” NBC reports. They say he…
Edmund Zagorski, the convicted killer who opted for the electric chair instead of lethal injection, was asked if he had any last words before dying and he responded, “Let’s rock.”