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| January 23, 2018

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Shutdown News Lifts Markets to Record Highs

January 22, 2018 |

Stocks closed higher on Wall Street Monday, setting more all-time highs for major US indexes. Technology, energy, and consumer-focused companies contributed most to the gains, per the AP . Microsoft rose 1.8%, Schlumberger jumped 4.4%, and Amazon rose 2.5%. The market got off to a weak start but…
Newser

Markets Update: Cryptocurrency Prices Rebound But Uncertainty Still Lingers

January 20, 2018 |

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.

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A Visual Comparison Between Bitcoin and Other Markets

January 13, 2018 |

A Visual Comparison Between Bitcoin and Other Markets

The market cap of cryptocurrencies, the world’s fastest growing asset class, has surpassed $ 677 billion. And bitcoin itself has surged past the payment processing company Paypal and the fast food company McDonald’s. Still, it looks tiny compared to other global markets.

Also Read: Chinese Bitcoin Mining Giant Bitmain Establishes Branch in Zug, Switzerland

A Visual Comparison Between Bitcoin and Other Markets

The site The Money Project has put together a series of interesting pictures describing the market cap of the world’s money and markets. Each block square is worth $ 100 billion.

Apple, a world leading tech giant, has a market cap of over $ 800 billion. But Bitcoin prognosticator Ronnie Moas, founder and director of Standpoint Research, predicted that “Bitcoin needs to be taken seriously as within five years it could reach $ 800 billion.”

A Visual Comparison Between Bitcoin and Other Markets

The world top 50 richest people are worth a whopping $ 1.9 trillion. Bitcoin’s pseudonymous creator Satoshi Nakamoto with his coins unmoved from day one is also in the billionaire league. And in recent weeks, ripple’s record highs have propelled its co-founder creator Chris Larsen to one of the world’s richest people. He owns 5.19 billion of its XRP cryptocurrency, which gives his holdings a rough value of $ 12.82 billion, according to Forbes.

A Visual Comparison Between Bitcoin and Other Markets

The total value of the world’s coins and banknotes is roughly $ 7.6 trillion.

A Visual Comparison Between Bitcoin and Other Markets

The World Gold Council estimated that the world’s total above ground gold reserves are 187,200 tonnes. Bitcoin has a maximum of 21 million coins.

A Visual Comparison Between Bitcoin and Other Markets Both gold and bitcoin are generated with the process of mining, but with different means. Hundreds of tons of gold are mined every year through means that include placer mining, hard rock mining, byproduct mining, gold ore processing. New bitcoins are generated by a competitive and decentralized process also called mining. And miners need to process transactions and secure the network using specialized hardware.

We really have come a long way in the past decade. Do you think Bitcoin will surge over Gold? When? Leave your comments below.


Images via Shutterstock, Money.visualcapitalist.com


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post A Visual Comparison Between Bitcoin and Other Markets appeared first on Bitcoin News.

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Markets Retain Their New Year’s Hot Streak

January 10, 2018 |

The stock market is marking its longest New Year’s winning streak in eight years as major indexes continued to notch record highs. The Standard & Poor’s 500 rose for a sixth straight day Tuesday, matching the stretch of gains that rang in 2010. The S&P 500 rose 3 points, or…
Newser

Euro Defies Treasury Market’s Gravitational Pull

January 9, 2018 |

The single currency has surged against the U.S. dollar, even as German bond yields have collapsed to multidecade lows against their American peers. That’s not usually what happens.
WSJ.com: What’s News Europe

Markets Update: Exchange News from South Korea Brings the Bitcoin Bears

January 8, 2018 |

Markets Update: Exchange News from South Korea Brings the Bitcoin Bears

Cryptocurrency prices are sliding downwards since our last markets update, as the top ten digital assets are all seeing a loss of gains on January 8. BTC/USD markets reached a high of $ 17,200 on Saturday evening on January 6, but the value has dropped since then to a low of $ 13,900 per BTC. The price has since rebounded and is hovering between $ 14,800-$ 15,050 during this afternoon’s trading sessions. 

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

FUD from South Korea and Coinmarketcap Data Brings a Price Storm

Bitcoin markets have seen a two-day decline since reaching its high of $ 17,200 this past Saturday. Yesterday afternoon the decentralized currency hovered just above the $ 16K zone, dipping to the $ 15,800 range a few times. On Monday, January 8, the price of BTC has sunk further taking most other digital asset markets with it. During the early trading sessions, (EDT) bitcoin prices touched $ 13,900 with around $ 15.8Bn in 24-hour trade volume. Many traders and cryptocurrency enthusiasts are blaming this week’s tumble on South Korea and its officials inspecting local banks tied to digital asset trading platforms.

Coinmarketcap excludes South Korean exchange prices from its aggregated global average.
Markets Update: Exchange News from South Korea Brings the Bitcoin Bears
Bithumb and other Korean exchanges have one asterisk explaining the exchange’s price is excluded from data.

Today the U.S. dollar is the top currency traded with BTC commanding 37 percent at the time of writing. This is followed by the Japanese yen (35%), tether (USDT 9%), and the South Korean won has dropped considerably to 4.7 percent. A few days ago when markets were more bullish, tether USDTs were averaging approximately $ 1, but since today’s dip, USDT is now $ 1.02. Additionally, tether has the third highest digital currency volume worldwide at the moment which happens consistently during dips.

Another thing to note is the cryptocurrency website Coinmarketcap has dropped South Korean exchanges from its aggregated global price averages. The website has left an asterisk next to each price that states “* Price Excluded.” Coinmarketcap dropping South Korean exchanges has made the website’s price data fall by over 100 billion, as the total valuation of all markets is only $ 721Bn after reaching a high of $ 850Bn.

Markets Update: Exchange News from South Korea Brings the Bitcoin Bears
The most-traded nation-state issued currency traded against BTC is the USD, while the top cryptocurrency traded with BTC today is ETH.

Technical Indicators

Looking at the charts shows bitcoin core markets have dropped several legs down since yesterday evening’s trading sessions. During our last report, the two Simple Moving Averages has a nice gap between the 100 SMA and 200 SMA. Today things are changing as it looks like the two trend lines may cross hairs soon. This indicates there is more substantial resistance towards the path to the upside and sellers are in control. 12 hours ago RSI and Stochastic levels were showing overbought conditions but both oscillators are leveling out at the moment.

Bulls could quickly rebound from the current vantage point as order books show there’s not much resistance ahead but new positions are filling up. Look for more extended pit stops in the $ 15,300-15,700 territory. On the back side, there is plenty of foundational support in the $ 14,000-$ 13,800 range if bears managed to cause a more extensive market sell-off.

Markets Update: Exchange News from South Korea Brings the Bitcoin Bears
At press time the price per BTC is between $ 14,800-15,050 USD.

Overall Most Digital Currency Markets Are Seeing Deep Losses

Digital asset markets, in general, are all in the red seeing deep percentage losses today. Ethereum (ETH) has repositioned itself as the second highest market cap but markets are down 2.2 percent. One ETH is averaging $ 1,089 today after the currency hit an all-time high above $ 1,200. Ripple (XRP) markets are down significantly as XRP has lost its $ 3.40 price high. XRP’s price is under by 28 percent and the global average per token is $ 2.40. Bitcoin cash (BCH) prices are also dipping as the price per BCH has lost 18 percent. One BCH is roughly around $ 2,398 and markets are seeing $ 1.2Bn in global trade volume. Lastly, the fifth largest market valuation is still Cardano (ADA), but its prices are down 15 percent. ADA prices are averaging around $ 0.86 at press time. Additionally, the most traded digital currency pairs on the swapping platforms Shapeshift and Changelly is BTC/ETH by a landslide.     

Markets Update: Exchange News from South Korea Brings the Bitcoin Bears
The top ten cryptocurrencies are all in red on January 8, and Coinmarketcap prices are lower than usual after excluding South Korean prices.

Bear Scenario: Bears currently reign the market right now and have managed to utilize the South Korean rumors coupled with fear, uncertainty, and doubt (FUD). If panic selling continues, the price could tumble below the $ 13.6K range. Watch for the Displaced Moving Average (DMA) to break $ 13,600 for some lower scalps.   

Bull Scenario: Bulls have some work to do to get back well above $ 15K and $ 16K price territories. There’s some good size sell walls throughout these positions, but order books show it’s still manageable for a considerable rebound to take place. At the moment, long positions and big players are stepping off to the sidelines waiting for a better entry point.

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

Disclaimer: Bitcoin 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 Shutterstock, Pixabay, Shapeshift, Coinmarketcap, Reddit, and Bitstamp.


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The post Markets Update: Exchange News from South Korea Brings the Bitcoin Bears appeared first on Bitcoin News.

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Markets Update: Bitcoin’s Price Re-Captures the $16K Territory

January 5, 2018 |

Markets Update: Bitcoin's Price Re-Captures the $  16K Territory

The weekend is coming, and things are looking far more optimistic for bitcoin markets than the last two holiday weekends. BTC/USD market value has jumped considerably since it hit a low of $ 11,600 across global exchanges with the price now averaging $ 16,500 per BTC on January 5. Last week a bunch of tokens priced under $ 5 USD like ripple, stellar, and others had seen exponential rises while BTC markets moved sideways. Today’s BTC spike is seeing many of those coins dip in value by 15-20 percent.

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

The Big BTC Rebound Back to $ 16K

Bitcoin core markets have rebounded over the past two days as each token has gained over $ 1,000 in value per day. A few days ago when Peter Thiel announced he purchased millions worth of BTC the price jumped from the low $ 14,000 range to over $ 15,000 but remained stable until today. Other coins like NEM, ripple, and ethereum saw considerable jumps in value while bitcoin core markets bounced between $ 14900-15,200 during the last 48 hours. Today is a different story as BTC has risen to a high of $ 16,500 during the mid-afternoon’s trading sessions.

Markets Update: Bitcoin's Price Re-Captures the $  16K Territory
Today’s most popular trade on Shapeshift with BTC is ETH.

BTC trade volume is considerably strong with over $ 22Bn worth swapped over the past 24-hours. The most prominent exchanges holding the most volume today are Binance, Bitfinex, Bithumb, Bittrex, and Poloniex. South Korea’s Bithumb and other trading platforms in that region are trading bitcoin, ripple, and other digital assets at a premium. The USD is still the dominant currency traded with BTC at the moment as the currency captures 36 percent. This is followed by the Japanese yen (31%), tether (USDT 10%), the Korean won (10%) and the euro (5.6%). According to Shapeshift, the most traded cryptocurrency with bitcoin at the moment is ethereum.

Technical Indicators

Looking at the charts shows things are looking up for bitcoin core (BTC) markets on January 5. The decentralized currency reached a high of $ 16,500 but dropped immediately after to $ 16,300. The two Simple Moving Averages (SMA) have a very wide gap between the 100 SMA and 200 SMA, indicating bulls are in charge for the short-term. The Relative Strength Index (RSI) and Stochastic oscillators also suggest the path to resistance is currently on the upside.

Markets Update: Bitcoin's Price Re-Captures the $  16K Territory
At press time the price per BTC is $ 16,400 at 3 pm EDT.

Heavier resistance is currently forming in the $ 16,800 to $ 17K range so look for pit stops at these vantage points. On the back side if bears manage to drag the price down some order books show some foundations at $ 15,800 and $ 15,500 for the time being. Order books show a much stronger pattern of consolidation has taken place as there is a very strong floor at $ 15K that should hold for a good portion of the time.

Crypto-Markets Are About to Capture a $ 1 Trillion Dollar Valuation

There is a mix of action happening as far as other digital asset markets are concerned today. As mentioned above most of the coins that have risen considerably while BTC remained stable are now suffering from price corrections. The second highest valued cryptocurrency ripple (XRP) is down 10 percent as one XRP is $ 3.07. The token came awfully close to reaching $ 4 per XRP the day prior. The third largest market cap is held by ethereum (ETH), and the coin hit an all-time high yesterday at over $ 1,000 per ETH. Ethereum markets are down right now 2.6 percent as each ETH is worth $ 985. Bitcoin cash (BCH) has had a correlated relationship with BTC prices over the past week and a half. Volume is down a touch at $ 2.1Bn traded over the past 24-hours while BCH markets are up 4 percent. Each bitcoin cash is now worth $ 2,557 at press time. Lastly, the top five spot is still held by Cardano (ADA) but markets are down 7 percent with one ADA averaging $ 1.07.

Markets Update: Bitcoin's Price Re-Captures the $  16K Territory
The top ten cryptocurrency assets.

Optimism is high on all cryptocurrency courts as many digital assets are still very valuable after the holiday dips. Alongside these technical indicators reveal the cryptocurrency ‘perma-bull run’ doesn’t seem like it’s ending anytime soon. The entire cryptocurrency market cap is steadily approaching $ 1 trillion USD in value and the technology being taken very seriously in the world of finance.

Bear Scenario: If bears manage to muster up some strength they could pull the price back down to the lower $ 15K region, but it would take a lot at this vantage point. Watch the Displaced Moving Average (DMA) break $ 15,200 for lower numbers.

Bull Scenario: Buyers are in control and have managed to push prices back into the $ 16K region. On the global level, some countries are seeing higher averages of above $ 17K and significant premiums compared to the global spot price. Bulls need to crack the $ 16,800 region to begin a larger upside battle and above $ 17K will be difficult as well. If they can break these zones, $ 18,000 is not too far from sight.

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

Disclaimer: Bitcoin 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 Shutterstock, Bitcoin Wisdom, Pixabay, and Bitstamp.


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The post Markets Update: Bitcoin’s Price Re-Captures the $ 16K Territory appeared first on Bitcoin News.

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Peter Thiel, Bitcoin Astronaut, Moves Markets with Crypto Moonshot

January 3, 2018 |

Peter Thiel, Bitcoin Astronaut, Moves Markets with Crypto Moonshot

Investor Peter Thiel has reportedly made an all-in, rather giant, bet on bitcoin. Mainstream financial press is reporting his venture capital fund purchased and held the digital asset through last year’s thousand percent-plus gains, making the decentralized currency one of his firm’s most valuable investments.

Also read: Jimmy Song Uses Andreas Antonopoulos Model, Open Sources Forthcoming Book

Peter Thiel, Bitcoin Astronaut, Moves Markets with Crypto Moonshot
Peter Thiel

Peter Thiel’s Moonshot Bet

“Founders Fund, the venture-capital firm co-founded by Peter Thiel, has amassed hundreds of millions of dollars of the volatile cryptocurrency,” bitcoin, the Wall Street Journal is reporting. “The bet has been spread across several of the firm’s most recent funds,” they claim, citing unnamed sources, and include “one that began investing in mid-2017 and made bitcoin one of its first investments.”

Paypal? They chortled; we have credit cards! Won’t make money. Facebook? They dismissed; Myspace exists! Doomed to failure. Donald Trump? They howled; Hillary Clinton has it in the bag! There is no way he can become President. Bitcoin? They mocked; it’s used only by weirdos and geeks! It died in 2011.

Peter Thiel, Bitcoin Astronaut, Moves Markets with Crypto Moonshot

Maverick investor Peter Thiel has made a career of going against conventional wisdom, and he’s at it again, venturing where few of his peers will dare. This time, he’s placing what’s been called “a moonshot bet on bitcoin.”

Mr. Thiel, 50, is best known as a venture capitalist, but he’s about as well-rounded as they come. He earned a law degree from Stanford, traded derivatives, clerked for a circuit court judge, and even wrote speeches for the Secretary of Education.  

A principal focus these days is his Founders Fund, which he started in 2005 from San Francisco. It doesn’t have a mission statement – it has a manifesto, asking the question: “What happened to the future?” Its portfolio has contained everything from Spacex, Spotify, Lyft, Airbnb, to Facebook.

Peter Thiel, Bitcoin Astronaut, Moves Markets with Crypto Moonshot

Markets Rocked

Speculation by the media has Founders Fund buying “around $ 15 million to $ 20 million in bitcoin, and it has told investors the firm’s haul is now worth hundreds of millions of dollars after the digital currency’s ripping rise in the past year,” and no one seems to know if they’ve begun to take profits.

Afternoon news of the bet shook markets, and though bitcoin’s price had been lethargic it suddenly began shooting up, reaching as high as 15,000 USD by this writing. Market reasoning can be many-faceted, but a venture firm buying bitcoin straight, no chaser, and holding it is something new. And the idea its “bitcoin investment is already estimated as the most valuable in the Founders’ most recent $ 1.3 billion venture fund,” according to reporting, is downright shocking.

Peter Thiel, Bitcoin Astronaut, Moves Markets with Crypto Moonshot

The move is daring, even for Mr. Thiel, in an environment where bitcoin could literally go to zero, or something close. Boisterous, media-seeking venture capitalists such as Michael Novogratz spooked easily after late December 2017’s double-digit price drop, saying “we didn’t like market conditions for new investors” and postponed a planned crypto fund. Indeed, entire countries like China and South Korea, among others, are cracking down if not outright banning the world’s most popular cryptocurrency.  

Whatever the case, Mr. Thiel’s reputation for unconventional thinking has won him many hundreds of millions as reward. And it appears the market, this time at least, wishes to bet on his hunch as much as bitcoin.

What are your thoughts about Mr. Thiel’s fund buying up bitcoin? Tell us in the comment section below! 


Images via Pixabay.


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The post Peter Thiel, Bitcoin Astronaut, Moves Markets with Crypto Moonshot appeared first on Bitcoin News.

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Markets Ring In 2018 by Rising Again

January 3, 2018 |

Stock indexes closed higher on the first trading day of 2018, led by gains in big technology companies. The gains were enough to set all-time highs for the Standard & Poor’s 500 index and the Nasdaq composite. The Dow Jones industrial average increased 104 points, or 0.4%, to 24,…
Newser

Markets Update: Cryptocurrencies See Big Gains After New Year’s Day

January 2, 2018 |

Markets Update: Cryptocurrencies See Big Gains After New Year's Day

The second day of the new year sees cryptocurrency markets come back after another holiday slump over the past few days. Bitcoin core markets are up 4 percent, averaging between $ 14,600-14,800 across global exchanges. However many other digital assets are seeing more significant gains as ethereum and bitcoin cash markets have risen 13-18 percent during the morning of January 2.

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

Bitcoin Markets Rebound a Touch After the Holidays

Cryptocurrency markets, in general, have dipped in value over the past week and a half seeing record lows compared to last year’s phenomenal gains. However, following New Year’s day digital asset markets are starting to creep northbound once again. After yesterday’s average of $ 13,400 per token, BTC/USD markets are now trying to forge past the $ 14,000 zone, but bulls have been hitting resistance. Volume is very high at the moment as bitcoin core markets are commanding over $ 18Bn in trade volume over the past 24-hours. The top exchanges swapping the most BTC on January 2 include Binance, Bitfinex, Okex, Hitbtc, and GDAX.

Markets Update: Cryptocurrencies See Big Gains After New Year's Day
South Korea consistently captures the world’s top premiums with prices 15-25 percent higher than the global average.

The USD is still the top currency traded with BTC as the tender holds 38 percent of the global share of trades. The Japanese yen has increased its position jumping to 32 percent after dropping in volume last week. The yen is followed by tether (USDT), the euro, and the Korean won leading the top five currencies traded with bitcoin core. According to Cryptocompare data statistics, South Korea has consistently held the world’s top premiums with prices 15-25 percent higher than the global average. Exceptionally high BTC premiums can also be found in India, Zimbabwe, Venezuela, Brazil, and sometimes Japan as well.

Technical Indicators

Looking at the charts today for BTC/USD looks better than the days prior. The two Simple Moving Averages (SMA), both short and long-term, have converged early this morning. The 100 SMA is now above the longer term 200 SMA which means buyers could take the upside after breaking some more resistance. There is some stiff resistance above the $ 13,950-14,100 territory and another sizable wall around $ 14,500. If BTC prices can continue to climb above $ 15,500 some smoother seas may be in the cards. On the back side, there’s a strong foundation between $ 13,400-13,500. Further back, support begins to weaken again, but there are definitely pit stops in the $ 12,000-13,000 range. Both the RSI and Stochastic oscillators show the path to resistance is on the upside. For now, bulls seem to be applying pressure, volume is substantial, and bitcoin core markets look healthier after the week and a half worth of price dumps. 

Markets Update: Cryptocurrencies See Big Gains After New Year's Day
At press time the price per BTC is ranging between $ 14,600-$ 14,800 USD.

Alternative Digital Assets Steal the Show

Other digital assets have had much better trading sessions on January 2, and some coins are touching all new price highs. Ripple (XRP) is still making some gains, and each token is worth roughly $ 2.40. The third largest market capitalization held by Ethereum (ETH) is riding out an all-time high touching $ 900 per ETH. The currency’s markets are up 18 percent and are seeing $ 5.7Bn in trade volume over the past 24-hours. Bitcoin cash (BCH) prices are doing exceptionally well and are up roughly 13 percent since yesterday. The price per BCH is $ 2,800 at the time of writing, and BCH markets have $ 1.6Bn in daily trade volume. The fifth highest valued market cap is still held by Cardano (ADA), and its markets are seeing 11 percent gains today. The rest of the top ten capitalizations are in the green as well with stellar (XLM) commanding the top performing digital asset on January 2 with its markets up by 25 percent.

Markets Update: Cryptocurrencies See Big Gains After New Year's Day
Bitcoin cash, ethereum, and stellar are the top performing digital assets on January 2, 2018.

Many traders still don’t know what to expect to happen with bitcoin core markets and the rise of other digital currencies into the new year. Right now cryptocurrency markets have amassed a whopping $ 656Bn valuation, but bitcoin only captures 35 percent of that share. All of the digital assets have very high trading volumes as general markets are seeing $ 49Bn in crypto-swaps over the past 24-hours. Right now the top-most traded cryptocurrencies on the second day of 2018 include bitcoin core (BTC), ethereum (ETH), ripple (XRP), tether (USDT) and bitcoin cash (BCH).

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

Disclaimer: Bitcoin 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 Shutterstock, Bitcoin Wisdom, Pixabay, and Bitstamp.


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The post Markets Update: Cryptocurrencies See Big Gains After New Year’s Day appeared first on Bitcoin News.

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