Image Image Image Image Image Image Image Image Image Image Image Image

| January 16, 2019

Scroll to top

Top

Markets Archives -

Apple Rattled Markets With China Warning. Who’s Next?

January 15, 2019 |

After iPhone-maker Apple blamed much of its revenue slump on the country’s slowing economy, the focus shifts to Starbucks, Nike and others with big exposure.
WSJ.com: What’s News Asia

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records

January 13, 2019 |

Latin American P2P Markets Defy Global Trend to Smash Volume Records

The Latin American peer-to-peer (P2P) cryptocurrency markets have a seen a significant spike heading into 2019, with the Colombian, Peruvian, and Venezuelan Localbitcoins markets posting record volume when measuring in both fiat and BTC. The Argentinian, Dominican, and Mexican markets also posted record volume for P2P trade in recent weeks.

Also Read: 9 Cryptocurrency Firms Sue Washington State Utility Over 50 Percent Rate Hike

Latin American P2P Markets Witness Record Trade Volume

Despite a steady decline in global Localbitcoins volume during recent weeks when measuring in fiat currency, several Latin America P2P markets consistently posted record trade activity heading into the new year.

The months of November and December 2018 saw the Colombian Localbitcoins post consecutive records for weekly trade activity.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins COP/BTC Volume – COP

The increased volume appears to have peaked during the end of December, with the current record of 759 BTC or 8.40 billion Colombian Pesos (COP) (approximately $ 2.66 million) worth of cryptocurrency changing hands during the week of Dec. 22, 2018.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins COP/BTC Volume – BTC

Since then, volume has significantly receded, with 346 BTC or approximately 4.26 billion COP (roughly $ 1.35 million) worth of bitcoin core trading hands during the week of Jan. 5th, 2019 – a drop in volume of between 50 and 55 percent over the course of just two weeks.

Peruvian and Argentinian Trade Activity Drops 50% Since December Surge

When measuring in fiat currency, the Peruvian Localbitcoins markets posted six consecutive records for weekly trade volume from the week of Nov. 14, 2018, until Dec. 29, 2018.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins PEN/BTC Volume – PEN

Peruvian P2P trade saw a new record posted for both fiat and cryptocurrency volume with 252 BTC or 3.46 million Peruvian Sol (PEN) (nearly $ 1.04 million) worth of trade during the final week of 2018. Since posting the current record, P2P trade between PEN and BTC has dropped by roughly 25 percent to 190 BTC or 2.59 million PEN (approximately $ 776,000).

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins PEN/BTC Volume – BTC

When measuring in fiat currency, the Argentinian Localbitcoins markets posted record volume of nearly 9.45 million Argentine Pesos (ARS) (roughly $ 256,000) during the week of Dec. 8, 2018. The same week saw 65 BTC traded on the platform, the most to change hands since April 2017.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins ARS/BTC Volume – ARS

Despite the significant burst in trade activity, Argentinian P2P trade appears to have since dropped off by between 40 and 50 percent in roughly one month, with 30 BTC or 5.64 million ARS (approximately $ 153,000) worth of crypto trading on Localbitcoins during the week of Jan. 5, 2019.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins ARS/BTC Volume – BTC

Dominican and Mexican P2P Trade Spikes During Week of Dec. 22, 2018

P2P trade between the Dominican Peso (DOP) and BTC broke records twice during December 2018, with volume more than doubling during the week of Dec. 22 to post the current record of 47 BTC worth of weekly trade when measuring in cryptocurrency.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins DOP/BTC Volume – BTC

When measuring in fiat, the 9.2 million DOP (roughly $ 182,000) worth of BTC traded during the same week comprises the third strongest weekly trade activity on record, and the strongest volume posted since the week of Jan. 13, 2018.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins DOP/BTC Volume – DOP

Mexico also saw a surge in P2P trade during the week of Dec. 22, 2018, with 9.34 million Mexican Pesos (MXN) (roughly $ 488,000), or 115 BTC, changing hands in a single week – the second strongest on record when measuring in MXN.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins MXN/BTC Volume – MXN

Venezuelan Cryptocurrency Trade Continues to Surge

Seven weeks during November and December of last year saw record volume posted for Venezuelan Locabitcoins trade when measuring BTC, six of which also comprised then-record volume when measuring in Venezuelan Bolivars (VES).

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins VES/BTC Volume – BTC

After posting a new record of 1,974 BTC or 5.29 billion VES (nearly $ 6.66 million) worth of trade during the week of Dec. 22, the Venezuelan Localbitcoins markets have since failed to post a new record for two consecutive weeks when measuring in cryptocurrency for the first time since September 2018.

Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records
Localbitcoins VES/BTC Volume – VES

Why do you think Latin American trade activity flourished in spite of declining global volume during the final months of 2018? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Coin.dance


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Latin American P2P Bitcoin Markets Defy Global Trend to Set New Records appeared first on Bitcoin News.

Bitcoin News

Markets End Week With a Mixed Finish

January 12, 2019 |

Stocks drifted to a mixed finish on Wall Street as falling oil prices tugged energy stocks lower. Small-company stocks rose, the AP reports. The S&P 500 edged lower Friday, ending a five-day winning streak but still ending with its third straight weekly gain. That followed a brutal stretch in December…
Newser

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline

January 10, 2019 |

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline

The cryptocurrency markets have produced a slight retracement in response to bitcoin core (BTC) testing a long-term descending trendline dating back to December 2017’s record highs. The dip has seen bitcoin cash (BCH) slip back below $ 150, and BTC fail to hold above $ 4,000. As of this writing, ripple (XRP) has again overtaken ethereum (ETH) to rank as the largest altcoin by market cap.

Also Read: It’s Time We Began Pricing Things in Satoshis

Combined Cryptocurrency Market Capitalization Loses $ 11.5 Billion in One Day

The cryptocurrency markets have pulled back following BTC forming a third point of contact with a major descending trendline stemming from the record highs posted nearly 25 months ago.

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline
BTC/USD – Bitfinex – 1W

At approximately 01:00 EDT, BTC fell by nearly 6% within an hour. The move reversed all gains generated by the spike above $ 4,000 that was posted on Jan. 6, sending uncertainty across the markets.

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline
BTC/USD – Bitstamp – 1H

As of this writing, BTC has a market cap of nearly $ 66.81 billion and a market dominance of 52.5%. BTC is currently trading for $ 3,860 on Bitfinex and $ 3,775 on Bitstamp. The retracement saw the combined capitalization of all cryptocurrencies fall by more than $ 11.5 billion, dropping from nearly $ 138.9 billion to $ 127.1 billion currently.

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline
Combined cryptocurrency market capitalization – 7 days

BCH Loses 15% in Seven Hours

Of the leading markets, BCH was among the hardest hit, shedding 15% against the dollar in just seven hours.

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline
BCH/USD – Bitstamp – 1D

As of this writing, BCH is priced just below $ 140, the lowest the market has traded since Dec. 20. When measuring against BTC, BCH has fallen by 10% in the last seven hours and is currently trading for 0.036 BTC.

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline
BCH/BTC – Kraken – 1W

BCH is currently the fourth largest cryptocurrency market with a capitalization of $ 2.44 billion. BCH has a market dominance of roughly 1.9%.

XRP and ETH Vie for Second Largest Market Cap

As of this writing, XRP is the second largest cryptocurrency market with a capitalization of $ 14.16. XRP currently comprises 11.05% of the total cryptocurrency capitalization.

Ripple was among the least heavily hit markets by today’s bloodshed, falling 9% in the last seven hours to trade for $ 0.35 and 3.7% in the last 12 hours against BTC to currently trade for roughly 90,500 satoshis.

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline
XRP/BTC- Bitfinex – 1D

XRP was able to dethrone ETH as the second largest crypto market after ETH fell by 12% in less than eight hours to currently trade for $ 134. When measuring against BTC, ETH fell by 6.5% to trade for nearly 0.035 BTC.

Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline
ETH/USD – Bitfinex – 4H

ETH is currently the third largest cryptocurrency with a market cap of $ 14.01 billion and a market dominance of 10.95%.

What cryptocurrency do you expect to spend the largest part of 2019 as the largest altcoin by capitalization? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Tradingview


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.”

The post Markets Update: Bearish Momentum Grips Leading Cryptocurrencies After BTC Tests ATH Trendline appeared first on Bitcoin News.

Bitcoin News

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record

January 8, 2019 |

When looking at monthly market performance, 2018 was the bloodiest year in the history of the cryptocurrency markets. Of the seven largest cryptocurrencies by market cap, only three were able to produce more than two green monthly candles during 2018.

Also Read: Bitblock Publishes Alternative Valuation Model That Suggests BTC Is Underpriced

BTC and ETH Produce Most Red Monthly Candles in Calendar Year Ever

In 2018, bitcoin core (BTC) saw the most red monthly candles in its history, posting three green and nine red monthly candles throughout the year. BTC gained 2% during the month of February, 33% April, and 21% July. The price of BTC fell by roughly 73% during 2018, opening the year trading for $ 13,900 and closing 2018 at roughly $ 3,700.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
BTC/USD – Bitstamp – 1M, 2018

Based on monthly performance, the second most-bloody year in BTC’s history was 2014, during which BTC posted four green and eight red monthly candles. In 2014, BTC fell by 56% from $ 730 to $ 320.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
BTC/USD – Bitstamp – 1M, 2014

ETH also posted its poorest annual performance during 2018 with three green and nine red monthly candles. The price of ETH gained 53% in January, nearly 75% in April, and 19% in December of last year. Overall, ETH shed nearly 82% of its value during 2018, falling from roughly $ 735 to start 2019 trading for $ 135.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
ETH/USD – Poloniex (Estimated by Tradingview) – 1M, 2018

XLM Posts Strongest Monthly Performance of Top Markets

Stellar (XLM) was the strongest performing cryptocurrency of 2018 when counting green candles, posting four green and eight red candles during last year. XLM started 2018 with a gain of 53% in January, before gaining 103% in April, 44% during July, and 17% in September.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
XLM/USD – Bittrex (Estimated by Tradingview) – 1M, 2018

Despite performing better than many other crypto assets during 2018, XLM posted its worst performing year on record. XLM lost 67% during last year, opening 2018 at $ 0.35 and closing the year below $ 0.12.

BCH, XRP, EOS, and LTC Post Just Two Green Monthly Candles During 2018

BCH posted green months during April and July of 2018, during which it gained 97% and less than 4% respectively. Overall, BCH shed roughly 94% of its value last year, trading for nearly $ 2,400 at the start of January and closing the year at roughly $ 150.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
BCH/USD – Kraken – 1M, 2018

XRP’s sole green months for the year were April and September, which saw monthly gains of 66% and 74%. XRP posted an annual loss of 82%, falling from nearly $ 1.97 to end 2018 trading for $ 0.36.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
XRP/USD – Bitfinex – 1M, 2018

EOS saw bullish action during January and April of last year, during which the market posted gains of 59% and 195% respectively. EOS dropped by 78% during 2018, sliding from $ 12.17 to close the year at $ 2.62.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
EOS/USD – Bitfinex – 1M, 2018

LTC Produces Second-Most Bearish Year on Record

During 2018, LTC posted modest monthly price gains in February and April, with LTC increasing by 23% and 28%. Overall, LTC fell by 86% last year.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
LTC/USD – Coinbase – 1M, 2018

Despite the heavy losses, 2018 comprised LTC’s second most-bearish year on record. During 2014, LTC fell 88% from roughly $ 23.80 to $ 2.75, and only posted a single green monthly candle.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
LTC/USD – Bitfinex – 1M, 2014

Do you think the worst of the bear trend has already passed? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Tradingview.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Leading Crypto Markets Post Worst Year of Monthly Price Action on Record appeared first on Bitcoin News.

Bitcoin News

Markets Update: Crypto Analysts Remain Uncertain After 2019’s First Week of Trading

January 6, 2019 |

Markets Update: Crypto Analysts Remain Uncertain After 2019's First Week of Trading

Since our last markets update, cryptocurrency markets consolidated within a tight range and have been less volatile over the last few days. The market capitalization of the entire cryptocurrency economy has gained about $ 5.7 billion and a few of the top coins have seen some price jumps this week.

Also Read: Embracing Utility in 2019: Unreliable Crypto Networks Will Lose to Hyperbitcoinization

Crypto Markets Consolidate, But Some Coins See Gains

As the first week of 2019 comes to an end, digital currency prices this Sunday are far less volatile than the last two months of 2018. At the time of publication the entire cryptocurrency market valuation of all 2000+ digital coins is roughly $ 131.7 billion. Since the holidays and the first annual “Proof-of-Keys” day has passed global trade volume has steadily increased. There’s about $ 15.8 billion worth of cryptocurrency global trade volume today across popular exchanges and ripple, litecoin, and stellar are this weekend’s top performers. Currently, the digital asset bitcoin core (BTC) is trading for $ 3,869 and market prices are up 0.03% over the last 24 hours. BTC captures around $ 4.9 billion of the world’s crypto-trades and has a market valuation of around $ 67.5 billion.

Markets Update: Crypto Analysts Remain Uncertain After 2019's First Week of Trading
Top ten digital assets by market capitalization on Jan. 6, 2019.

The second highest valued market capitalization this Sunday is held by ethereum (ETH) which is down 2.6% today. However, over the last seven days, ETH has gained 10.3% and one ETH is trading for $ 153. Ripple (XRP) is up a hair today with 0.36% gained over the last 24 hours but the week shows a loss of around 2.8%. One XRP is swapping for $ 0.35 and holds about $ 424 million of the world’s digital asset trade volume. The token eos (EOS) is still holding the fifth largest capitalization, but litecoin (LTC) is not too far behind. One EOS is trading for $ 2.76 and markets have risen 3.8% this week. EOS markets are up today 0.79% and markets are also capturing $ 761 million in trades. As mentioned above LTC has spiked considerably jumping 7.8% today and 19% over the last seven days. LTC has managed to commandeer the sixth largest market valuation this week.

Bitcoin Cash (BCH) Market Action

Markets Update: Crypto Analysts Remain Uncertain After 2019's First Week of TradingBitcoin cash (BCH) markets had it much better last week and prices have consolidated into a pretty tight range. At the moment one BCH is trading for $ 160 per coin and markets are down 1.4% over the last 24 hours and down 1.2% for the week. The top cryptocurrency exchanges swapping the most bitcoin cash today includes Lbank, Hitbtc, Binance, Huobi, and Coinbase. Currency pair statistics show tether (USDT) captures 48.3% of the global trades with BCH. This is followed by BTC (18.5%), ETH (16.9%), USD (8.9%), EUR (3%), JPY (2%), and KRW (1.3%). The EUR has spiked a great deal which is traditionally a sign of bullish movements ahead. BCH holds the eighth largest trade volume today below zcash (ZEC) and just above tron (TRX) markets.            

Markets Update: Crypto Analysts Remain Uncertain After 2019's First Week of Trading
BCH/USD daily chart.

BCH/USD Technical Indicators

Looking at the daily and 4 hour charts on Bitstamp shows some tight Bollinger Bands and signs of deep consolidation. At the moment on the 4 hour chart, the Relative Strength Index (RSI) is meandering in the middle between oversold and overbought regions at -47.8. Stochastic and the MACd show similar readings and it seems as though traders are uncertain of which direction the next wave will take them.

Markets Update: Crypto Analysts Remain Uncertain After 2019's First Week of Trading
BCH/USD 4 hour chart.

The two Simple Moving Averages (SMA) are still showing a decent gap between the short term 100 SMA and the long-term 200 SMA. The 100 SMA is well above the 200 SMA indicating the path toward the least resistance is still the upside. Order books on some of the most popular exchanges show BCH bulls need to surpass the $ 170 range in order to gain some better momentum. On the backside, there is plenty of foundational support between the current vantage point and the $ 140 region.

Markets Update: Crypto Analysts Remain Uncertain After 2019's First Week of Trading
BCH/USD 4 hour chart.

The Verdict: While Some Analysts See Positive Signs, Others Are Not so Optimistic

It is safe to say that most traders are waiting on the sidelines for some more confirmations of a bearish-to-bullish trend change, or another big drop in crypto prices. Some people believe they have noticed a positive trend change among crypto asset prices and the validation of some bullish divergence over the last few weeks. Mati Greenspan, senior market analyst at Etoro gave his thoughts on the current cryptocurrency market trends on Jan. 3. “Gains across most of the popular crypto assets have been rather mild lately,” Greenspan emphasized. “While it’s good to see bitcoin holding steady, we’re actually starting to see a side of the market that is more typical during a bull run.”

Markets Update: Crypto Analysts Remain Uncertain After 2019’s First Week of Trading
Digital asset and fiat money flow on Jan. 6, 2019.

However, digital currency market analyst Willy Woo explained on Jan. 5 that the bears still may be holding the reigns. “The initial volume spike false signaled a faster detox and an earlier end to the bear market, but in fact, it was a volatility side effect — That move from $ 6k to $ 3k created immense trade volume, but it was in no way a signal that accumulation volume had begun,” Woo told his Twitter followers.

The analyst continued by stating:

That volume has since subsided. Leaving the NVT chart on the high side of its oscillation around the main move downwards — The key thing here, in my interpretation, is it’s on the high side of its band, so I think an up move is limited, bears will win the longer term trade.

Where do you see the price of BCH, BTC and other coins heading 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, Coinlib.io, Bitstamp, and Satoshi Pulse.


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

The post Markets Update: Crypto Analysts Remain Uncertain After 2019’s First Week of Trading appeared first on Bitcoin News.

Bitcoin News

Fed Chief’s Comments Send Markets Surging

January 4, 2019 |

A rosy jobs report and comments from Federal Reserve chief Jerome Powell have helped lift the markets in a big way. The Dow surged 680 points, or 3%, in early trading, while the S&P 500 and Nasdaq each were up more than 3%. In comments made in Atlanta, Powell said…
Newser

Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot

January 4, 2019 |

Markets Update: BCH and BTC Consolidate, ETH Regains Second Largest Market Cap

BCH and BTC markets have begun the year with consolidation, with BCH bouncing between $ 150 and $ 175 and BTC trading within a $ 3,500 to $ 4,000 range on Bitstamp, and $ 3,700 to $ 4,300 on Bitfinex. In other market news, a bullish start to the year has seen ETH reclaim its position as the second largest cryptocurrency by market cap.

Also Read: Report: 70 to 80 Percent of South Korean Miners Shut Down in 2018

BCH Markets Cool After Closing 2018 on Record Volume

After producing the strongest week of trading activity on record two weeks ago, the BCH/USD markets have since retraced from the local high of roughly $ 220 and consolidated within a range between approximately $ 150 and $ 175. As of this writing, BCH is trading for $ 158.

Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot
BCH/USD – Kraken – 1D

When measuring against BTC, BCH price action has roughly followed the same trajectory, beginning the new year with consolidation following a retracement from the local top of 0.05 BTC posted during late December. BCH is currently trading for 0.0417 BTC.

Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot
BCH/BTC – Bittrex – 1D

Bitcoin cash is the fourth largest cryptocurrency by capitalization with a market cap of $ 2.86 billion, equating to a market dominance of nearly 2.2%.

BTC Consolidates Near $ 4,000

When looking at the daily charts, BTC has started the new year with tight consolidation in the upper $ 3,000 range, following a 30% rally during the second half of December 2018. As of this writing, BTC is trading for $ 3,800 on Bitstamp and $ 3,942 on Bitfinex, after establishing local support approximately $ 200 lower toward the end of 2018.

 

Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot
BTC/USD – Bitstamp – 1D

BTC currently has a market dominance of 51%, down from 55% as of mid-December, coinciding with a rise in the combined capitalization of all other markets from $ 45 billion on Dec. 16 to $ 64.2 billion today. BTC has a capitalization of $ 67.11 billion.

ETH Produces Bullish Start to 2019

ETH has rallied consistently since the middle of December when measuring against both USD and BTC, having gained nearly 90% over the dollar and 55% over BTC in just three weeks. After trading for just $ 83 and 0.026 BTC on Dec. 15, ETH is currently testing support at roughly $ 160 and 0.04 BTC.

Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot
ETH/USD – Bitfinex – 1D

The bullish momentum has also seen ETH reclaim the distinction of being the largest altcoin by market capitalization, following seven weeks in which XRP held second spot. ETH currently boasts a market cap of $ 15.93 billion and a dominance of 12%.

Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot
ETH/BTC – Bitfinex – 1D

Ripple Grinds Sideways

After a week of bullish momentum leading up to Christmas, XRP/USD has since traded within a price range between roughly $ 0.33 and $ 0.37, with current prices consolidating at the support zone of XRP’s former all-time high posted during May 2018.

Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot
XRP/USDT – Poloniex – 1D

When measuring against BTC, XRP is testing support near 0.0001 BTC for the third time since September after producing a multi-month ascending wedge formation. Ripple is currently the third-largest cryptocurrency market with a capitalization of $ 14.79 billion and a market dominance of nearly 11.3%.

Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot
XRP/BTC – Bitfinex – 1D

How do you expect the markets to perform during 2019? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Tradingview


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.”

The post Markets Update: BCH and BTC Consolidate, ETH Regains Second Spot appeared first on Bitcoin News.

Bitcoin News

Chinese Investors Retreat From Global Property Markets

January 2, 2019 |

The days of Chinese investors snapping up high-profile real estate in many Western markets are likely over for now, adding to the downward pressure on prices from rising interest rates.
WSJ.com: What’s News Asia

Markets Update: Crypto Traders Enter the New Year With Uncertainty

January 1, 2019 |

Markets Update: Crypto-Traders Enter the New Year With Uncertainty

On the first day of 2019, cryptocurrency prices have been steadily moving sideways in a consolidated pattern after taking some slight losses on New Year’s Eve. At the moment, the entire digital asset economy is worth about $ 126 billion and global trade volume has been thinning out over the last 48 hours.

Also Read: Embracing Utility in 2019: Unreliable Crypto Networks Will Lose to Hyperbitcoinization

2019’s Top Crypto Market Valuations

2018 is over and many cryptocurrency enthusiasts are hoping the bearish sentiment that lasted all year long is left behind as well. Trade volume has been light over the last two days, which is likely due to traders celebrating the holidays. It’s likely that heavier digital asset trading will resume at some point today and into the new year. At the moment, global trade volume for all 2000+ assets this Tuesday is around $ 12.8 billion. Bitcoin core (BTC) is trading for $ 3,743 and is down 1.5% on Jan.1. The last seven days show BTC is also down a small percentage and trade volume is around $ 4.2 billion.

Markets Update: Crypto Traders Enter the New Year With Uncertainty
The top 10 cryptocurrencies on Jan. 1, 2019.

The second largest market capitalization held by ripple (XRP) is down 1% today and 5.9% for the week. One XRP is trading for $ 0.35 and ripple’s overall market valuation is $ 14.4 billion. Ethereum (ETH) had a decent runup last week as the cryptocurrency is still up 5% over the last seven days but is down 1.6% today. One ETH is trading for $ 135 and the total market capitalization is awfully close to ripple’s at $ 14 billion. The cryptocurrency eos (EOS) is having a better day than most. Even though the currency is down 0.63% today, it is up 2.7% for the week. At the time of publication, a single eos is swapping for $ 2.58 per coin.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) markets are seeing some improvement on the first day of the year, but prices are down 0.64% over the last 24 hours. BCH is also still down over 4% for the week and trade volume is much lower than last week’s data with only $ 250 million today. One BCH is trading for $ 156 at the time of publication. The top five exchanges swapping the most BCH this Tuesday include Lbank, Binance, Huobi, Hitbtc, and Coinbase. A list of currency pair statistics shows that USDT is dominating BCH trades by 42.4% today. This is followed by BTC (19.6%), ETH (18%), USD (9.8%), and JPY (4.5%). The EUR and KRW both have about 1-3% of daily BCH trades today as well. Bitcoin cash is the seventh most traded currency just below litecoin (LTC) and above zcash (ZEC).

Markets Update: Crypto Traders Enter the New Year With Uncertainty
BCH/USD daily chart on Jan. 1, 2019.

BCH/USD Technical Indicators

Looking at the BCH/USD daily and 4-hour charts on Bitstamp shows there have been some meaningful trend changes. As explained in our last markets update, the two long-term and short-term Simple Moving Averages (SMA 200,100) were about to cross hairs. Today the 100 SMA has climbed above the long-term 200 SMA indicating some possible upswings ahead.

Markets Update: Crypto Traders Enter the New Year With Uncertainty
BCH/USD 4-H chart on Jan. 1, 2019. Bitstamp.

The Relative Strength Index (RSI) on the BCH/USD 4-H chart shows uncertainty at -46 while the Stochastic and MACd indicators show similar findings. Looking at order books ahead, we can see that bulls will meet resistance at the current vantage point and up until $ 190-225 per coin. On the back side, foundations have grown stronger and bears will see a few pit stops between $ 155-135 per coin.

Markets Update: Crypto Traders Enter the New Year With Uncertainty
BCH/USD 4-H chart on Jan. 1, 2019. Bitstamp.

The Hope for 2019 Crypto Market Trend Reversal

Overall, most traders know that the holiday lull may pick up soon as far as volume, but the bearish trends may not be over. Unfortunately, just like the myriad of nonsensical price predictions throughout 2018, there has been a ton of people who think they’ve called “the bottom.” Traditionally, cryptocurrency markets in January don’t fare so well because of people selling for tax reasons and settling end of the year purchases. However, usually after a long-winded year of bearish sentiment sometimes certain markets reverse. On New Year’s Eve John Bollinger, the esteemed inventor of statistical chart characterization tool Bollinger Bands, reminded traders and his Twitter followers of this example.

“Happy New Year,” Bollinger said. “Please keep in mind that there is a long tradition of what did poorly last year, doing well the next — Good trading.”

Where do you see the price of BCH, BTC and other coins heading 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, Coinlib.io, Bitstamp, and Satoshi Pulse.


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

The post Markets Update: Crypto Traders Enter the New Year With Uncertainty appeared first on Bitcoin News.

Bitcoin News