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| November 15, 2018

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Plunging Oil Prices Sink Energy Stocks

November 13, 2018 |

The steepest fall in oil prices in more than three years pulled energy stocks lower on Wall Street, extending a losing streak for the S&P 500 index to a fourth day, the AP reports. The price of US crude plunged 7.1% Tuesday, to $ 55 a barrel, the lowest since…
Newser

Stocks fall sharply as tech firms drop; oil prices rise

November 12, 2018 |

A broad sell-off in technology companies pulled U.S. stocks sharply lower Monday, knocking off more than 450 points from the Dow Jones industrial average. Apple, Amazon and other big names fell. Banks and consumer-focused companies and media and communications stocks also took heavy losses. Crude…


L.A. Times – Business

Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork

November 11, 2018 |

Markets Update: All Eyes On Bitcoin Cash Prices Before the Pending Fork

Since our last markets update five days ago, a lot has changed as a good chunk of the top cryptocurrency markets have dipped in value over the last three and a half days. Bitcoin cash markets touched a high of $ 638 on Wednesday, Nov. 7, but now prices are hovering around $ 544 per BCH on Sunday, Nov. 11.

Also read: Bitcoin Cash Miners Break Records Processing Multiple 32 MB Blocks

Digital Assets See Some Slight Losses Over the Last Three Days

Cryptocurrency markets have had an interesting week after a long period of boring price action and stability. Last week bitcoin cash markets lead the pack out of all 2000+ digital assets, climbing over 51% in value and touching a high of $ 638 per coin. Digital asset markets, in general, have all seen some slight losses as the top ten cryptocurrencies are down 1-3% except for stellar, cardano and the stablecoin tether. The entire market valuation of the whole crypto-economy is worth $ 215.9 billion and there’s been $ 11.5 billion in global trades over the last 24 hours.

Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork
The top 10 cryptocurrencies on Nov. 10, 2018, at 10:00 a.m. EST.

Bitcoin core (BTC) prices are hovering around $ 6,406 per coin and there’s around $ 3.7 billion in global BTC trade volume today. Following the BTC action, ethereum (ETH) prices are around $ 211 per ETH and the cryptocurrency is down 0.3% this weekend. Ripple (XRP) is down 0.9% today and each XRP is being swapped for $ 0.50 per token. Lastly, eos (EOS) has been officially bumped out of the fifth largest market capitalization and stellar (XLM) has taken its place. Stellar is currently trading for $ 0.26 per token and markets are up this Sunday 4.5%.

Bitcoin Cash (BCH) Market Action

Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending ForkThe fourth largest market capitalization held by bitcoin cash (BCH) is down 0.5% over the last 24 hours. Data stemming from the last seven days shows BCH is down 1.7% overall for the week. Currently, BCH is trading at an average of $ 544 per coin with a market valuation of about $ 9.4 billion. The last 24 hours of trade volume shows BCH markets swapped $ 641 million this weekend. The top exchanges swapping the most BCH today include Lbank, Okex, Hitbtc, Binance, and Huobi Pro. The trading pairs today dominating BCH markets include USDT (35.2%), BTC (35%), ETH (10.2%), USD (7.7%), and KRW (3.1%).

Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork
Bitcoin cash (BCH) daily. Nov. 11, 2018.

BCH/USD Technical Indicators

Looking at the 4-hour charts for BCH/USD on both Bitfinex and Bitstamp shows BCH bears may be feeling some exhaustion in the short term going forward. Currently, there looks like a trend shift is in the cards as the 100 Simple Moving Average (SMA) has crossed above the long-term 200 SMA. This indication is positive for the bulls as the path towards the least resistance is essentially the upside. The Relative Strength Index (RSI) shows things are meandering in the middle (-44.02) but definitely closer to oversold regions.

Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork
BCH/USD Bitstamp 4-hour at 10:15 a.m. EST. Nov. 11, 2018.

The stochastic oscillator indicates a similar reading and the MACd also shows there’s currently room for improvement going forward. Order books show a similar forecast too as bulls need to muster enough strength past the $ 566 region to gain a lot more momentum, and there will be another pitstop at the $ 600 zone. On the backside, there is plenty of foundational support at the time of publication between the current vantage point and $ 495.

Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork
BCH/USD Bitfinex 4-hour at 10:00 a.m. EST. Nov. 11, 2018.

The Verdict: Traders Assume the Pending Fork Will Affect Markets Before, During, and After the Fork

Most traders seem positive that the price of BCH will trend higher as the fork approaches due to the memories of prior forks in the past. The 100-day average shows there is a lot of room for improvement over the next four days. Furthermore, BCH/USD short positions are at an all-time high this weekend which means a good majority of traders are betting against a rise.

Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork
BCH/USD Shorts on Nov. 11, 2018.

However, others believe that these traders are setting themselves up for a “big squeeze” and expect prices to spike unexpectedly. With the fork approaching and especially the contentious nature surrounding it, it will likely drive markets in certain directions before, during, and after the network changes. Per usual in crypto-land, bitcoin traders are expecting the unexpected to take place next week and most are just crossing their fingers hoping they chose their positions correctly.    

Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comments section below.

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork appeared first on Bitcoin News.

Bitcoin News

Post-election stock surge fades, and oil prices sink again

November 8, 2018 |

U.S. stocks slipped Thursday as oil prices’ ninth consecutive drop hurt energy companies. U.S. markets were coming off huge gains from the day before.

U.S. crude oil has slumped more than 20% since early October, meeting Wall Street’s definition of a bear market.

Government fuel stockpiles have…


L.A. Times – Business

Markets Update: Bitcoin Cash Prices See Steady Gains Over the Last Two Days

November 3, 2018 |

Since our last markets update five days ago, cryptocurrency traders saw a lower range of volumes after cryptocurrency prices dropped in value. Now, this Saturday during the weekend trading sessions, most of the top digital asset prices have seen some slight gains between 1-5% over the last 24 hours. But one digital currency, bitcoin cash, has spiked significantly in value gaining well over 12% over the last 24 hours and 9% for the last seven days.

Also read: New Bitcoin Cash Stress Test Sees 700,000 Transactions in One Day 

Top 10 Coins See Slight Gains While Bitcoin Cash Leads the Pack

Over the last year, as 2018 draws closer to an end, many traders have complained about bearish markets and low trade volumes. With less than two months left in the year, a good portion of enthusiasts are hoping for a big trend reversal. During this weekend’s cryptocurrency trading sessions, most of the action among the top ten markets is fairly lackluster, except for BCH which has shown some decent gains this week.

Markets Update: Bitcoin Cash Prices See Steady Gains Over the Last Two Days
The top 10 cryptocurrency market capitalizations on Saturday, Nov. 3, 2018.

Meanwhile, bitcoin core (BTC) prices are hovering around $ 6,350 per coin and are down 2% this week. The second largest market valuation held by ethereum (ETH) is down 1.9% and each ETH is being swapped for $ 199. Ethereum is followed by ripple (XRP) which is trading for $ 0.45 at the time of publication. Ripple markets have seen a slight loss of 0.17% over the last seven days. Lastly, eos (EOS) markets have seen gains this Saturday as markets are up 0.44% over the last 24 hours with one eos trading for $ 5.35 per coin.

Markets Update: Bitcoin Cash Prices See Steady Gains Over the Last Two Days
The most-traded cryptocurrency swaps today on Shapeshift is bitcoin core (BTC) for bitcoin cash (BCH).

Bitcoin Cash (BCH) Market Action

Bitcoin cash prices have done extremely well this week as the value currently hovers between $ 472-482 per BCH. Volume has doubled since our last markets report and 24-hour BCH trade volume this Saturday is between $ 550-630 million. The BCH market capitalization has swelled to about $ 8.2 billion and bitcoin cash is the fifth most traded cryptocurrency today.

Markets Update: Bitcoin Cash Prices See Steady Gains Over the Last Two Days
BCH 1-day.

The top five BCH exchanges this weekend include Lbank, Binance, Okex, Digifinex, and Bitfinex. The five most traded currency pairs swapped with BCH include BTC (37.2%), USDT (31%), USD (8.7%), ETH (7.1%), and KRW (5.4%). Over the last 24 hours, the most popular trade on the peer-to-peer trading platform Shapeshift.io is bitcoin core (BTC) for bitcoin cash (BCH).

Markets Update: Bitcoin Cash Prices See Steady Gains Over the Last Two Days
BCH 7-day.

BCH/USD Technical Indicators

Looking at the 4-hour charts on Bitstamp and Bitfinex shows a lot more action happening in bitcoin cash-land. The 4-hour chart shows BCH bulls have managed to move upwards quite a bit but the relative strength indicator (RSI) indicates overbought conditions (-75.9) which could mean prices may dip a touch in the short term. The two simple moving averages (SMA) show a large gap this weekend with the long-term 200 SMA well above the short-term 100 SMA.

Markets Update: Bitcoin Cash Prices See Steady Gains Over the Last Two Days
BCH/USD 4-hour Bitstamp.

This is another sign that prices could reverse slightly if bulls cannot manage to keep pushing forward. SMA trendlines and order books indicate the path toward the least resistance is in the bears’ favor. Order books show on the upside bulls need to muster up strength and press past the current vantage point and the many large sell walls leading to $ 550. On the back side, there is a small foundation that could hold above the $ 440 mark but buy orders are far lighter than the upside path.

Markets Update: Bitcoin Cash Prices See Steady Gains Over the Last Two Days
BCH/USD 4-hour Bitfinex.

The Verdict: Fork Ahead and Korean Demand

Overall markets, in general, are seeing small gains during this weekend’s trading sessions and trade volume for all 2000+ digital currencies is just above $ 11 billion. The entire market capitalization of the crypto-economy is roughly $ 209 billion, with bitcoin cash leading the top ten largest coin valuations. The rise in BCH values coincidently comes just two weeks before the network hard fork scheduled for Nov. 15. Some have attributed the price spike to the fork because this time around the consensus change is contentious and may lead to a network split. Others have ascribed the BCH price jump to South Korea as markets in that region have seen significant growth and KRW/BCH pairs indicate a lot of demand.

Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comments section below.

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


Images via Shutterstock, Trading View, and Satoshi Pulse.


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

The post Markets Update: Bitcoin Cash Prices See Steady Gains Over the Last Two Days appeared first on Bitcoin News.

Bitcoin News

Markets Update: Traders Play a Lower Range After Cryptocurrency Prices Dip

October 29, 2018 |

Markets Update: Traders Play a Lower Range After Cryptocurrency Prices Dip

Digital asset prices dropped in value on Monday after the last few weeks of cryptocurrency market consolidation and stability. Around 8:10 a.m. EDT on Oct. 29, the top 10 digital currency markets saw percentage losses of between 2-5%. Since our last markets update two days ago, the entire crypto-economy has lost $ 5.6 billion in value.

Also read: New Qart Wallet Gives Bitcoin Cash QR Codes a Personal Touch

Top Cryptocurrency Markets Dip While Traders Play the Range

After the tight trading range over the last few weeks, many people joked about cryptocurrency prices remaining stable indefinitely. Of course, most crypto enthusiasts know better and on Monday, after a dull trading weekend, the majority of digital asset markets saw price declines across the board. Bitcoin core (BTC) prices saw a low of $ 6,208 and bitcoin cash spot prices dipped to $ 414. Even though markets are now in the red, trading volumes have increased immensely since our last report. At the time, $ 8.6 billion worth of 24-hour cryptocurrency global trade volume was recorded but today the worldwide trade volume touched around $ 12 billion.

Markets Update: Traders Play a Lower Range After Cryptocurrency Prices Dip
The top ten cryptocurrency markets on Oct. 29, 2018.

Bitcoin core (BTC) is currently trading for $ 6,344 per coin and has seen a loss of around 2% over the last 24 hours. Following behind is ethereum (ETH), as markets have seen a 3.5% loss during the morning trading sessions. One ETH is being swapped for $ 197 at the time of publication. The third largest market capitalization held by ripple (XRP) lost 3.5% and each token is trading for $ 0.44. The morning dip has erased 4.7% off the overall eos (EOS) capitalization and each token is trading for $ 5.14. On Oct. 29, at 12:15 p.m., the market valuation of all 2,000+ cryptocurrencies is around $ 206 billion. Just before the dip, dwindling cryptocurrency trade volumes started to reverse and now many traders are scrambling to find new positions.  

Bitcoin Cash Market Action

Bitcoin cash (BCH) is currently trading for $ 416 per coin and the cryptocurrency has lost 4.7% since the initial plunge. The BCH market valuation is $ 7.2 billion and there’s been $ 298 million worth of BCH trades over the last 24 hours.

Markets Update: Traders Play a Lower Range After Cryptocurrency Prices Dip
Bitcoin cash (BCH) market action 7-day.

The top five exchanges trading the most BCH this Monday are Lbank, Hitbtc, Bithumb, Okex, and Digifinex. BTC trades cover 40% of today’s BCH pairs, followed by USDT (26%), KRW (13.4%), ETH (10.2%), and USD (5.5%). BCH is currently the seventh most traded cryptocurrency out of all the virtual currency markets.

Markets Update: Traders Play a Lower Range After Cryptocurrency Prices Dip
Bitcoin cash (BCH) market action 1-day.

BCH/USD Technical Indicators

Looking at the four-hour and daily charts shows traders have been ‘playing the range’  so to speak over the last couple of days, and even more so now. Bollinger bands are extremely tight and the long and short-term SMA trendlines have crossed. On the four-hour BCH/USD chart, the longer-term 200 SMA is now well above the short term 100 SMA. This shows the path of least resistance for BCH traders right now will be the downside.

Markets Update: Traders Play a Lower Range After Cryptocurrency Prices Dip
BCH/USD Bitfinex 4-H. Oct. 29, 2018.

The relative strength indicator (RSI) shows BCH is oversold right now (-21) and traders may see a reversal after all the scraps are bought. Right now on Bitstamp’s order book, there’s a huge sell wall that will keep bulls at bay until $ 430. Bulls have another obstacle around the $ 475 region if they plan on gathering momentum. On the backside, bears will see resistance at the current vantage point up until $ 350 where they will hit a bigger buy wall.

The Verdict: Traders On Edge Find New Positions Before the Next Significant Move

Overall, many traders have noticed that trade volumes have been relatively low and that there’s been anomalies and weird correlations between cryptocurrency markets and traditional equity markets. Then there’s been the peculiar action taking place with the various stablecoins over the last two weeks. Also, the decline in Japanese yen against cryptocurrency pairs and the rise of the Korean won has been a curious occurrence. The recent downturn has put traders on edge, and now on high alert, which makes a refreshing change from the tedium of the crypto-economy’s stability over the last few weeks. 

What do you think about digital asset market dips today? 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, and Satoshi Pulse.


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

The post Markets Update: Traders Play a Lower Range After Cryptocurrency Prices Dip appeared first on Bitcoin News.

Bitcoin News

Trump Unveils Plan to Lower Drug Prices

October 25, 2018 |

Less than two weeks before the midterm elections, in which health care has been a major issue, President Donald Trump on Thursday announced a plan to lower prices for some prescription drugs, the AP reports, saying it would stop unfair practices that force Americans to pay higher prices than people…
Newser

StarKist admits to fixing tuna prices. It faces a $100-million fine

October 21, 2018 |

StarKist Co. has agreed to plead guilty to a felony price-fixing charge as part of a broad collusion investigation of the canned tuna industry, the U.S. Department of Justice announced.

The Justice Department said Thursday that StarKist faces up to a $ 100-million fine when it is sentenced. Prosecutors…


L.A. Times – Business

Trump says drug companies should include prices in TV ads. Good luck with that

October 18, 2018 |

The Trump administration told the drug industry this week that it wants the prices of prescription meds included in TV ads.

The drug industry said no.

I could end this column right there. But why let either side off the hook?

For all of President Trump’s bluster about drug companies’ scandalous…


L.A. Times – Business

Drug Industry Pushes Back Against Required Listing of Prices in TV Ads

October 16, 2018 |

The pharmaceutical industry is signaling resistance to a Trump administration plan to require that the list price be included for most drugs in television ads, setting the stage for a protracted fight over a proposal with broad bipartisan support.
WSJ.com: US Business