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Markets Update: Bears Claw Crypto Prices Back While Uncertainty Fills the Air

May 17, 2019 |

Digital asset markets fell hard during the early morning trading sessions on May 17 as the price of bitcoin core (BTC) quickly tumbled from $ 7,900 to a low of $ 6,200 on Bitstamp. Many other crypto markets followed BTC’s drop in value, but over the last few hours, a good portion of coins have regained a percentage of the intraday losses.

Also read: ‘Craig Is a Liar’ – Early Adopter Proves Ownership of Bitcoin Address Claimed by Craig Wright

Crypto Markets Dump In Unison

Markets faced extreme volatility on May 17, as the price of many coins nosedived in value from the previous day’s high. Currently, the entire market capitalization of the whole cryptoconomy is roughly $ 226 billion, but close to $ 30 billion was shaved off the overall valuation since the dump. At the moment, on Friday afternoon, the price of bitcoin core (BTC) is roughly $ 7,085 and is down 10.9% in the last 24 hours.

The second largest market valuation belongs to ethereum (ETH) markets which are currently down more than 13.6% today. Each ETH is swapping for $ 229 per coin and the market capitalization is roughly $ 24.3 billion. Ripple (XRP) prices are down 12.6% and each XRP is swapping for $ 0.36. Lastly, eos (EOS) holds the fifth largest market cap today, after knocking litecoin (LTC) out of the position. One eos is trading for $ 5.83 per coin and the market is down 10.9%.

Bitcoin Cash (BCH) Market Action

The fourth highest valued market cap on May 17 is bitcoin cash (BCH) which has lost 14.7% since the initial dip. At press time, one BCH is trading for $ 347 but BCH is still up 20% over the last seven days. BCH has around $ 3.6 billion in global trades and a market cap of about $ 6.1 billion on Friday.

BCH/USD 24-hour volume on May 17, 2019.

The top five exchanges swapping the most BCH today include Coinbene, Binance, Huobi Pro, Bitmart, and Bitforex. The top currency pair traded with BCH this Friday is tether (USDT) which captures 44.9% of today’s trades. This is followed by BTC (28.4%), USD (12.5%), KRW (7.8%) and the EUR (1.9%). Both ETH/BCH and JPY/BCH are also capturing close to 2% of the day’s global trade volume. Bitcoin cash is the sixth most traded coin by volume below eos and above ripple.

BCH/USD 4-hour, May 17, 2019.

BCH/USD Technical Indicators

Right now, looking at the 4-hour BCH/USD chart on Kraken shows the bears are struggling to break lower ground as there are strong foundations at the current $ 354 price point. The two Simple Moving Averages are growing closer with the 100 SMA, nearing the long term 200 SMA. This could indicate a trend reversal is in the cards but the Relative Strength Index (RSI 43.94) shows the dip hasn’t moved into oversold regions.

BCH/USD 4-hour, May 17, 2019.

The flash crash that affected all markets didn’t last long and the BCH MACd levels show things may go lower in the near future while the Stochastic oscillator is impartial at press time. Most technical indicators show a sell signal or some level of uncertainty which means another correction is likely on the horizon. If bulls manage to overcome the pressure, then they need to surpass prior heights again through the $ 375 and $ 400 range. On the backside, there’s some decent foundational support that’s been holding strong at the $ 340 zone and some more foundations around the $ 315 and the $ 295 range.

The Verdict: Crypto Sentiment Changed Fast Like a Mood Ring

At the moment, a decent amount of uncertainty is in the air and traders are likely hoping they played the correct positions. Right now, tether (USDT) has the strongest volume which is about $ 1 billion dollars higher than BTC’s trade volume today. Crypto markets started rising pretty fast, about a week before and during the Consensus conference in New York which typically happens on an annual basis.

However, during the early morning trading sessions this Friday, traders saw a BTC sell order worth a whopping $ 35 million on the Luxembourg-based exchange Bitstamp. As soon as the order hit the market, it triggered a very fast nosedive which saw BTC lose $ 1,000 in value. So far the cryptoconomy is calm but traders are unsettled by the extreme volatility and the mood has certainly changed.

Where do you see the price of bitcoin cash and the rest of the crypto markets heading from here? Let us know what you think about this subject 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, Bitcoin.com Markets, and Coinlib.io.


Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

 

The post Markets Update: Bears Claw Crypto Prices Back While Uncertainty Fills the Air appeared first on Bitcoin News.

Bitcoin News

Stocks claw back from early slide, extending win streak to five days

January 11, 2019 |

U.S. stocks had a day of uneven trading Thursday but ended higher, notching their fifth straight win. Industrial companies such as Boeing and General Electric rose while retailers fell as Macy’s suffered its biggest loss of all time.

Stocks struggled in the early going after U.S. and Chinese officials…


L.A. Times – Business

Stocks dive, then claw most of their way back

December 6, 2018 |

U.S. stocks clawed most of their way back from a deep slide Thursday that at one point had wiped out the market’s gains for the year.

An early dive briefly knocked nearly 800 points off the Dow Jones industrial average as the arrest of a senior Chinese technology executive threatened to cause another…


L.A. Times – Business

Stocks Claw Back After Early Plunge

December 6, 2018 |

Stocks clawed back much of the ground they lost in an early plunge triggered by the arrest of a senior Chinese technology executive, the AP reports. The Dow Jones Industrial Average and the S&P 500 index ended slightly lower Thursday, having taken a nosedive in the morning. Technology shares including…
Newser

A toy called the Black Panther Slash Claw — what could possibly go wrong?

November 20, 2018 |

It’s the sort of toy many parents would look at and immediately say, “I don’t think so.”

Toymaker Hasbro calls it the Marvel Black Panther Slash Claw and says it will make children as young as 5 “ready to pounce!”

“Kids can imagine slashing into action like the warrior hero, Black Panther, with…


L.A. Times – Business

Stocks Claw Their Way Higher

October 31, 2018 |

Stocks are closing solidly higher on Wall Street as the market claws back a small part of the ground it has lost this month, the AP reports. Several companies gained ground Tuesday after reporting results that pleased investors. Oreo maker Mondelez International climbed 5% Tuesday, and athletic clothing maker Under…
Newser

Markets Update: Bears Claw Billions Off Digital Currency Valuations

August 5, 2018 |

Markets Update: Bears Claw Billions Off Digital Currency Valuations

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

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

Cryptocurrencies Fall in Value Once Again This Weekend

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

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

Bitcoin Core (BTC) Market Action

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

BTC/USD Technical Indicators

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

Bitcoin Cash (BCH) Market Action

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

BCH/USD Technical Indicators

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

Markets Update: Bears Claw Billions Off Digital Currency Valuations

The Verdict: Skepticism and Doubt Remains

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

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

Bitcoin News

Stocks claw back early losses; Apple leads tech higher

May 1, 2018 |

U.S. stocks clawed back early losses Tuesday as Apple led a rally in technology companies. Smaller, more domestically focused companies also climbed. The late push offset a slump in household goods-makers and industrial companies.

Stocks fell in the early going as investors focused on trade tensions,…


L.A. Times – Business

Markets Update: Bears Claw Cryptocurrency Prices Down to New Lows

February 1, 2018 |

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.”


Images via Shutterstock, the film ‘The Revenant’, Bitstamp, Bitcoin Wisdom, AP, and Coinmarketcap.


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

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

Bitcoin News

U.S. indexes inch higher as energy stocks claw back some steep losses

June 24, 2017 |

U.S. stock indexes nudged higher Friday after energy companies clawed back some of their sharp losses from earlier in the week.

After meandering up and down through the day, the Standard & Poor’s 500 rose 3.80 points, or 0.2%, to end at 2,438.30. The Dow Jones industrial average slipped 2.53 points,…


L.A. Times – Business