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Papa John’s Founder: I Shouldn’t Have Stepped Down

July 17, 2018 |

John Schnatter is having second thoughts about resigning from the company he created. The Papa John’s founder, who stepped down as chairman of the company’s board of directors last week after admitting he had used the n-word on a conference call, said in a letter to the directors dated Saturday…
Newser

CNN

Trump’s walk with the Queen: Like ‘wandering up and down a golf course’

July 15, 2018 |

The British public does not appear amused with President Donald Trump walking in front of Queen Elizabeth II on Friday, with one royal commentator describing the awkward stroll as reminiscent of “wandering up and down a golf course.”
CNN.com – RSS Channel – World

Teens Ends Up in Burn Unit After Cutting Down ‘Weed’

July 13, 2018 |

The “giant horror plant” that recently popped up in Virginia sent a teen working his summer job to the VCU Medical Center burn unit in Richmond, reports the Richmond Times-Dispatch . Alex Childress, who plans on attending Virginia Tech in the fall, was weed-whacking around Fredericksburg on Tuesday when he stumbled…
Newser

Navy Finally Allows Women to Let Their Hair Down

July 12, 2018 |

The Navy says it will now allow servicewomen to sport ponytails and other hairstyles, reversing a policy that long forbade females from letting their hair down. Chief of Naval Operations Adm. John Richardson says it makes the Navy more inclusive. Many black women had asked for changes to the female…
Newser

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

July 11, 2018 |

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

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

Also read: Bitcoin ABC Developers Publish Bitcoin Cash Upgrade Timeline

More Than $ 16 Billion Shaved Off Cryptocurrency Valuations Since Friday

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

BTC Market Action

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

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

BTC/USD Technical indicators

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

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

BCH Market Action

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

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

BCH/USD Technical Indicators

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

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

The Top Cryptocurrency Markets See Losses

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

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

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

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

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

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

Bitcoin News

TMZ

Sarah Huckabee Sanders Says Restaurant Confronters Should Calm Down

July 9, 2018 |

Sarah Huckabee Sanders has some words for folks confronting Trump associates in public — especially at restaurants — and it starts with c … CHIIILLLLL OUT. We got President Trump’s Press Sec. Sunday in D.C., where we asked if the country should…

TMZ.com

TMZ

Halsey Breaks Down During Concert After Breakup with G-Eazy

July 7, 2018 |

Halsey broke down — sort of — during a performance Friday night, and given the song it has all the markings of an emotional toll taken by her breakup with G-Eazy. Halsey performed at the Common Ground Music Festival in Lansing, Michigan, and…

TMZ.com

TMZ

Justin Bieber’s Car Breaks Down During Hamptons Date with Hailey Baldwin

July 3, 2018 |

Justin Bieber and Hailey Baldwin’s relationship is speeding along, but everything came to a sudden, grinding halt Monday when his fancy sports car broke down.  Biebs and Hailey were cruising in the Hamptons in a Mercedes-Benz SLS — with…

TMZ.com

Analysis: Trump’s top economic advisor says deficit is ‘coming down rapidly,’ contradicting virtually all available data

June 29, 2018 |

President Trump’s top economic advisor said Friday that the federal deficit is “coming down rapidly,” contradicting estimates by nonpartisan analysts, Congress’ official scorekeeper and a branch of the White House.

Larry Kudlow, director of the White House’s National Economic Council, said on Fox…


L.A. Times – Business

Trump: I’m ‘Honored’ Justice Kennedy Is Stepping Down

June 28, 2018 |

President Trump praised Anthony Kennedy during a rally in North Dakota Wednesday evening and said he is “honored” the Supreme Court justice made his bombshell retirement decision when he did. “I’m very honored that he chose to do it during my term in office, because he felt confident in me…
Newser