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| October 22, 2018

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Stocks Tumble on New China Trade Fears

August 30, 2018 |

Stocks are ending lower after Bloomberg News reported the Trump administration could move forward with $ 200 billion in tariffs on Chinese goods as early as next week, the AP reports. The news knocked stocks lower Thursday afternoon, ending a four-day rally that brought major U.S. indexes to record highs….

Facebook Shares Tumble as Revenue Falls Short, Sales Outlook Darkens

July 26, 2018 |

Facebook reported slower-than-expected revenue growth in the second quarter, indicating the social-media site felt some effects from recent controversies. US Business

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

June 22, 2018 |

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Cryptocurrency markets are slumping today as most digital asset markets are seeing losses between 8-20 percent over the past 24-hours. Lots of speculators are attributing the dump to the recent measures taken by Japan’s Financial Services Agency (FSA), asking cryptocurrency exchanges like Bitflyer to make improvements to the Japanese trading platforms’ anti-money laundering practices.

Also read: William Shatner Joins Bitcoin Mining Project, Admits He Doesn’t Quite Get It

The Crypto-Bears Are Back

Just a few days ago digital currency market prices were reversing northbound after the extremely bearish first two weeks of June. Now markets are once again being attacked by bears, and most of the top cryptocurrencies are seeing deep losses over the past day. Bitcoin Core (BTC) values have tumbled 8.5 percent over the last 24-hours and the currency is down 6.3 percent over the last week. Bitcoin Cash (BCH) markets are also down 12.5 percent during the past day, and over the last seven days BCH is down 11.7 percent. The decline in prices started after Japan’s FSA began telling exchanges they need to upgrade their systems and anti-money laundering procedures. We don’t really know whether or not this announcement is the true reason behind the dump, but traders and speculators have tethered the two together.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Bitcoin Cash Market Action

Bitcoin Cash market prices are hovering around $ 759 USD per BCH at the time of publication. BCH is the fifth most traded cryptocurrency today as far as volume is concerned as the market has traded roughly $ 496Mn over the past day. At the moment the BCH market capitalization is 13.2Bn. The top exchanges swapping the most BCH today are Okex, Bitfinex, Huobi, Hitbtc, and EXX. The top currency traded with bitcoin cash today is BTC holding an average of around 42 percent of trades. This is followed by tether (USDT 22.8%), USD (21.2%), ETH (3.7%), and KRW (3.4%).

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

BCH/USD Technical Indicators

Looking at the charts show things are uglier today than our last markets update. The two Simple Moving Averages (100 & 200 SMA) have a deep gap between each other looking at the 4-hour BCH/USD chart on Bitfinex. The short-term 100 SMA is well below the longer term 200 SMA which indicates the path of least resistance will likely be towards the downside. However, MACd is steadily heading southbound and could reverse and show improvement in the next few hours. The Relative Strength Index (RSI) levels are showing oversold conditions around -29 at the time of publication. This also reveals we could see a small trend reversal soon for a short period of time and volume indicates this as well. Looking at order books towards the upside bulls need to muster up strength and push past strong resistance at $ 800. There’s another upside pitstop at $ 875 if bulls really push it to the limit before getting exhausted. On the backside, bears will see some stops between the current vantage point and $ 680 as there are some strong foundations there for the time being.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Bitcoin Core Market Action

Bitcoin Core (BTC) market prices are around $ 6,135 on Friday, June 22, 2018. The currency is the largest traded cryptocurrency as far as volume and BTC has traded $ 4.3Bn over the last day. The digital assets total market valuation today is 106Bn and BTC market dominance is 40.7 percent a slight increase since last week. The top exchanges trading the most BTC today include Binance, Bitfinex, Okex, Huobi, and Bitflyer. The Japanese yen accounts for over 60 percent of trades on June 22 as yen volume has decreased. This is followed by the USD (31%) USDT (7%), EUR (1.9%), and KRW (1.1%).

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD chart on Coinbase and Bitstamp shows similar action taking place compared to the BCH/USD analysis. The 100 SMA is below the 200 moving average which shows again that bears may continue holding the reigns. MACd just saw a small push up but is now heading southbound once again. RSI levels are around -21 indicating oversold conditions as well. BTC bulls need to jump past the $ 6,400 range again and will see more resistance around $ 6,700 where the price hovered for a few days prior. On the backside, bears will need to crunch through buy orders between now and $ 5,400 which are mountainous walls, at least for now.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

The Top Crypto-Markets Tumble — EOS Suffers

Overall most of the top currencies are seeing losses, and the second highest capitalization belonging to ethereum (ETH) is down 10.7 percent today. One ETH is priced at $ 474 per coin, and the currency is down 5.2 percent over the last week. The second highest market, ripple (XRP), is down 7 percent today and one XRP is $ 0.49 cents per token. Lastly, the fifth largest valuation still belongs to EOS but the token is down 16.8 percent today. One EOS is priced at around $ 8.63, and markets have shaved 20.3 percent over the last week.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

The Verdict: Skepticism Remains Strong

The verdict today is far less positive then our last markets update as things are starting to look gloomy again as the weekend approaches. Traders are all calling newer and lower bottoms, and many are skeptical of brighter skies in the short term.

Markets Update: Cryptocurrency Prices Tumble Before the Weekend

Of course most are optimistic about the long-term but for now, no one is sure how long this bear run will last. With the naysayers saying 2018 is nothing like 2014 (including myself), it just may be that we are going through similar circumstances that may last just as long.

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 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 Tumble Before the Weekend appeared first on Bitcoin News.

Bitcoin News

Tech Shares Tumble Again as Regulatory Risks Rattle Investors

March 29, 2018 |

Technology stocks are suffering one of their worst beatings in years, as investors reassess a sector that was once considered the growth engine of the global economy but now faces the prospect of greater regulatory scrutiny. What’s News Asia

Amazon shares tumble on report Trump wants to ‘go after’ the company

March 28, 2018 |

President Trump has made it clear since his election that he has gripes with over the e-commerce giant’s sales tax policies and its contract with the U.S. Postal Service for deliveries. And he hasn’t been shy about his disgust for the Washington Post, the newspaper owned separately by…

L.A. Times – Business

Stocks tumble on opening as consumer prices jump, adding to inflation fears

February 14, 2018 |

Consumer prices jumped more than expected last month, the Labor Department said Wednesday, adding to the fear of higher inflation that has roiled financial markets in recent days.

The consumer price index increased 0.5% in January, up from 0.2% the previous month and well above analyst estimates….

L.A. Times – Business

Facebook shares tumble after changes to its News Feed that could shrink ad revenue

January 12, 2018 |

Facebook shares were down more than 4% early Friday to $ 180.10 after the social network announced it was making major changes to its signature News Feed.

Facebook said it would begin prioritizing posts from users’ friends and families that spark the most interaction over posts from brands and publishers.

L.A. Times – Business

Stocks Tumble, Rebound After Flynn Guilty Plea

December 2, 2017 |

Stocks are closing modestly lower, having recouped much of a steep loss from earlier in the day after a former adviser to the White House pleaded guilty to lying to the FBI , the AP reports. News that former national security adviser Michael Flynn would cooperate with the probe into Russian…

Tech stocks rise, but telecom shares tumble

November 6, 2017 |

Stocks were inching higher in the middle of the trading day Monday as technology and energy companies rose but phone companies slipped.

Chip maker Qualcomm was up 0.7% around noon EST, off earlier highs, after competitor Broadcom offered to buy it for $ 103 billion. Broadcom slid 0.7%.

Oil prices…

L.A. Times – Business