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Prices Archives -

Airfares continue to drop even as jet fuel prices climb

July 17, 2018 |

The average domestic airline ticket cost $ 346 in the first three months of the year, an approximately 3.7% decline from the same period last year and the latest drop from an industry that has been facing rising jet fuel prices.

The airfares, reported Tuesday by the U.S. Bureau of Transportation…


L.A. Times – Business

Stocks fall as crude oil prices dive; bank shares climb

July 16, 2018 |

Major U.S. indexes closed mostly lower Monday as investors bought bank shares but sold most other types of stocks, including healthcare and technology companies’. Energy stocks sank along with oil prices.

Oil prices fell more than 4% after U.S. officials suggested the United States will take a…


L.A. Times – Business

Eurozone House Prices Rise at Fastest Rate in 11 Years

July 12, 2018 |

Eurozone house prices rose at the fastest pace in 11 years during the first three months of 2018, a development that is likely to reinforce the European Central Bank’s determination to end a key stimulus program in December.
WSJ.com: What’s News Europe

When companies say a merger will result in lower prices, try laughing in their face

July 10, 2018 |

The next time a big company, and especially a telecom company, tells lawmakers and regulators that a multibillion-dollar merger will result in lower prices for consumers, I hope everyone in the room breaks out in laughter.

At this point, it’s patently obvious that such pledges of price reductions…


L.A. Times – Business

Why Silicon Valley doesn’t mind rising gas prices

July 8, 2018 |

Gas prices have been steadily climbing since February 2016. In June, the average U.S. retail price of a gallon of gasoline was $ 2.97, up more than 20% from the same time last year. The nation is a few cents away from a psychological milestone, $ 3 a gallon. Meanwhile, the price of a barrel of crude…


L.A. Times – Business

Amazon is already undercutting prices on over-the-counter pills

July 7, 2018 |

As pharmacy chains await Amazon.com Inc.’s entry into the prescription-drug market, the online retail giant is already undercutting them for nonprescription medicine for aches, colds and allergies.

Median prices for over-the-counter, private-brand medicine sold by Walgreens Boots Alliance Inc….


L.A. Times – Business

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

July 6, 2018 |

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

Cryptocurrency markets are doing better this week since our last markets update as the entire digital asset economy is now valued at around $ 270.4Bn. Most digital currencies are up between 7-25 percent over the last seven days and trade volumes have picked up over the last week as well. The trend reversal has given enthusiasts and traders a bit more optimism as most cryptocurrency markets seem to be rebounding back from the recent correction of close to 70 percent since the highs last December.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Cryptocurrency Markets See Brighter Skies This July

With about $ 16.5Bn in 24-hour trade volume, the 1600+ cryptocurrencies within the digital asset economy have seen some big improvements since last week. A few days ago the cryptocurrency space saw some northbound action after dumping non-stop over the last six months. At the moment the top digital assets by trade volume include bitcoin core (BTC), tether (USDT), ethereum (ETH), EOS, and bitcoin cash (BCH). These five assets are up between 0.5 to 2 percent over the last 24 hours.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

BTC Market Action

BTC market action has seen some increased trade volume today on July 6, 2018, as markets are averaging around $ 5.23Bn. The cryptocurrency’s market valuation is hovering at $ 114Bn and BTC is up around 11.7 percent over the last seven days. The top five exchanges swapping the most BTC today are Bigone, Binance, ZB.com, Huobi, and Okex. At the moment the Japanese yen is capturing around 48.2 percent of BTC trades. This is followed by Tether (USDT 36.7%), USD (9.6%), KRW (1.9%), EUR (1.3%). The most popular trade on the peer-to-peer exchange Shapeshift this Friday is ETH for BTC.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

BTC/USD Technical Indicators

At press time BTC is averaging around $ 6,574 as bulls are desperately trying to surpass current resistance. Looking at the 4-hour and daily charts on Bitstamp and Coinbase shows the two Simple Moving Averages (SMA) have shifted since our last markets update. The long-term 200 SMA is above the short term 100 SMA indicating the path of least resistance is towards the downside. Bulls need to muster up enough strength to pass the $ 6,800 range in order to make a dent at the $ 7K region again.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July
BTC/USD July 6, 2018, 4-hour chart.

RSI levels on the 4-hour chart show some recovery (53) as traders just experienced some overbought conditions (73) about an hour ago. Looking at order books shows the resistance is at the current vantage point up until $ 6,800 but buyers will struggle around $ 7K through $ 7,300 as well. On the back side if bears managed to grab the reins then there are some solid foundations between $ 6,400 to $ 5,800 with monstrous support after that too. There’s a good chance bulls can keep up the good fight but some market exhaustion would make them extremely vulnerable.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July
BTC/USD July 6, 2018, daily chart.

BCH Market Action

BCH market action today is decent as well as the decentralized cryptocurrency is seeing about $ 436Mn in daily trades. The current market capitalization is roughly $ 12.63Bn at the time of writing. As we approach the weekend the top five exchanges today swapping the most BCH include Bigone, Okex, Huobi, EXX, and Hitbtc. This week BTC is not the top traded currency with BCH today as tether (USDT) is commanding the top pair with BCH by 45.9 percent. Tether is followed by BTC (32%), USD (10.1%), KRW (3.33%), and ETH (3.18%). Bitcoin cash is also the fifth most traded digital asset by trade volume today on July 6.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July  BCH/USD Technical Indicators

BCH charts show the spot price at the time of writing is $ 729 per coin on the exchange Bitstamp. Looking at both Bistamp and Bitfinex 4-hour charts show the same action as BTC, as far as SMA trendlines are concerned. At the moment the 200 SMA is above the 100 SMA which indicates resistance will be much tougher towards the upside.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July
BCH/USD July 6, 2018, 4-hour chart.

RSI levels show the oscillator at 53 at the moment too as BCH markets also revisited overbought conditions over an hour ago. Right now BCH bulls need to crank past $ 770 to make a solid move towards the lower $ 800s. Now if things went southbound then there’s pretty good foundations between now and $ 660. If BCH bulls can brush past the lower $ 800s, jumping to $ 900 faster is not out of the question.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July
BCH/USD July 6, 2018, daily chart.

The Top Cryptocurrency Positions

Most of the top cryptocurrencies are seeing gains this Friday and the digital currency tether has made the top ten spot. The second highest market valuation below BTC is ethereum (ETH) which is up 1.91 percent today.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

One ETH is trading for $ 477 and the currency has seen a 13.4 percent gain over the last seven days. Ripple (XRP) markets are up 0.22 percent today as an XRP currently trades for $ 0.47 cents. Lastly, the fifth highest capitalization is still held by EOS but markets are down 2.5 percent over the last 24 hours as one EOS trades for $ 8.55.

Markets Update: Cryptocurrency Prices Rebound During the First Week of July

The Verdict: Optimistic Traders Hope This Week’s Market Action May be a Bit More Than a Mere Dead Cat Bounce

The verdict this week is far brighter for cryptocurrency markets as we approach the weekend trading sessions. People are still skeptical about the bear market ending and wonder if we are just seeing a mere dead cat bounce but most seem hopeful. Furthermore, most short positions continue to liquidate big players and long positions are growing on most trading platforms that offer leveraged margin trading on exchanges such as Bitmex, and Bitfinex.

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, Coinlib.io, and Satoshi Pulse.


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

The post Markets Update: Cryptocurrency Prices Rebound During the First Week of July appeared first on Bitcoin News.

Bitcoin News

Trump Asks Saudis to Pump More Oil, Citing High Prices

July 1, 2018 |

President Trump said he asked Saudi Arabia to significantly boost its oil production, but a senior Saudi official said the kingdom has made no specific promise.
WSJ.com: What’s News Asia

GM Says Tariffs on Auto Imports Could Drive Up Prices, Hit U.S. Jobs

June 30, 2018 |

General Motors warned the Trump administration that tariffs on vehicle imports would hurt its competitiveness, cost U.S. jobs and result in “a smaller GM.”
WSJ.com: US Business

Markets Update: Cryptocurrency Prices at the Crossroads

June 29, 2018 |

Markets Update: Cryptocurrency Prices at the Crossroads

Cryptocurrency prices have once again dipped some more as most digital assets are seeing 24-hour losses of around 2-10 percent today. Bitcoin Core (BTC) markets have dipped below the $ 6K region to a low of $ 5,774 per coin but have since rebounded a hair to $ 5,907. Bitcoin Cash (BCH) markets dropped to a low of $ 630 per coin but are now averaging $ 661 per BCH on June 29, 2018.

Also read: Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely

Cryptocurrency Markets Drop a Hair Lower

Digital currency markets are at a turning point today as most cryptocurrencies have lost quite a bit of value erasing nearly all the gains achieved since last October 2017. Since Bitcoin Core’s (BTC) all-time high (ATH) at $ 19,600, the cryptocurrency has lost 70 percent of its value. The entire cryptocurrency capitalization of all 1600+ coins is $ 234Bn as it has lost nearly ⅔ of value since December 2017. Today, on June 29, there’s been an 11.7Bn worth of digital currencies traded as trade volumes continue to grow weaker. On the other hand, there’s been a lot of development taking place behind the scenes, and big crypto-focused firms like Coinbase, Blockchain, Circle, and others are now enticing institutional investors from venture capital firms.

Markets Update: Cryptocurrency Prices at the Crossroads
The 2018 crypto-bear market continues.

BTC Market Action

BTC market action has been tough on bulls as bears continue to wreak havoc and shorting every chance they can get. However, many short positions on exchanges like Bitfinex are being liquidated and dwindling down as long positions are starting to grow. At press time, BTC has a market capitalization of a little over $ 100Bn and 24-hour trade volume of around $ 3.7Bn. The top exchanges today swapping the most BTC include Binance, Bitfinex, Okex, ZB.com, and Bitstamp. The Japanese yen is capturing 59 percent of today’s BTC trade volume which is followed by tether (USDT 17.4%), USD (16.2%), EUR (2.5%), and KRW (1.5%).

Markets Update: Cryptocurrency Prices at the Crossroads

BTC/USD Technical Indicators

Looking at the 4-hour and daily BTC/USD charts on Coinbase and Bitstamp shows bulls are exhausted after pushing back to the $ 6,200 range and losing it. Just like our last markets update, right now the long-term 200 Simple Moving Average (SMA) is well above the short-term 100 SMA. This indicates the path to least resistance will be towards the downside. MACd levels look as they’ll be heading southbound after seeing a slight lift during the early morning trading sessions. The Relative Strength Index (RSI) oscillator is showing oversold conditions at the moment (32.04) which means we could see a slight increase northbound in the short term. Looking at order books shows that bulls need to get past the $ 6K region but bigger resistance is above the $ 6,200-6,400 zone. The walls looking northbound are not that tall and things could change directions in an instant. On the backside, there are mountains of buyers between now and $ 5,000.

Markets Update: Cryptocurrency Prices at the Crossroads     BCH Market Action

BCH action shows bulls are struggling to hold current market spot prices as well. Today the Bitcoin Cash market capitalization is resting at $ 11.4Bn with around $ 390Mn in 24-hour trade volume. BCH is holding the 5th highest trade volume today out of all 1600+ cryptocurrencies in existence. The top exchanges trading the most BCH on the last week of June are Okex, Bitfinex, Huobi, Hitbtc, and EXX. Data collected from Crypto Compare shows BTC commands roughly 40 percent of today’s BCH trades. This is followed by tether (USDT 29%), USD (17%), KRW (6.3%) and JPY (1.8%). The addition of the yen joining the top five is interesting and ETH trades account for 1.59 percent of BCH swaps as well.

Markets Update: Cryptocurrency Prices at the Crossroads

BCH/USD Technical Indicators

Looking at the BCH/USD charts on Bitfinex indicates BCH bulls have their work cut out for them. The 200 SMA is above the short term 100 SMA but the gap is smaller than the 4-hour BTC/USD chart. However, this still indicates that the least resistance is the downside if any uptrends are squashed along the way today. MACd is meandering in the middle as we speak and could head in one of two directions. RSI levels (31.7) are similar to the BTC/USD charts as the oscillator on the BCH/USD 4-hour is also showing oversold conditions. Bulls need to press past $ 685 to find smoother seas ahead and at the moment that’s still attainable in the short term. Looking at the backside shows bears will see pit stops between the current vantage point and $ 620 through $ 590 because of extremely large buy walls.

Markets Update: Cryptocurrency Prices at the Crossroads

The Top Crypto Markets Today

The second largest market cap belonging to Ethereum (ETH) is down 5.3 percent over the last 24-hours. ETH markets are also down 13 percent over the last week with a price average of around $ 412 per token. Ripple (XRP) markets are down 5.2 percent today and 13 percent over the last seven days as one XRP now trades for $ 0.43 cents. Lastly EOS still commands the fifth position but EOS markets have dropped 5.5 percent over the last 24-hours. EOS charts show seven-day losses of around 17 percent with one EOS priced at $ 7.38 per coin.

Markets Update: Cryptocurrency Prices at the Crossroads

The Verdict: Cryptocurrency Markets Are at the Crossroads

Today’s verdict is still filled with uncertainty and skepticism on whether or not we will see a bear market reversal soon. There has been a triple bottom and so far most cryptocurrency prices have remained above these key areas for now. People are still in the midst of coordinating newer positions like a game of musical chairs in search of the next wave up or even down.

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.


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

The post Markets Update: Cryptocurrency Prices at the Crossroads appeared first on Bitcoin News.

Bitcoin News