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Uncertainty high as Italy premier-designate tweaks Cabinet

May 30, 2018 |

Italy’s premier-designate Carlo Cottarelli has returned to the presidential palace for informal consultations amid continued market turmoil and uncertainty about the prospects of his proposed government.
FOX News

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

May 27, 2018 |

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

Cryptocurrency markets have had a rough week over the last seven days as many digital assets lost quite a bit of value that most coins had gained two weeks prior. Currently, markets are seemingly consolidating and have remained somewhat stable over the last 24-hours. At the moment Bitcoin Core (BTC) values have been hovering around $ 7,470-7,560 during the last few hours. Meanwhile, Bitcoin Cash (BCH) prices are steadily holding just above the $ 1K region at $ 1,038 per BCH at the time of publication.

Also Read: Bank in Argentina Launches BTC Settlement Services

A Crazy Volatile Week in Crypto-Land Filled With Lots of FUD

It’s been another crazy week in the world of cryptocurrency markets as most of the recovered gains most digital assets gathered from three weeks ago have been erased. Trade volume has been considerably low for nearly every market as the $ 13Bn worth of trades is less than half the volume we saw two weeks ago. Many cryptocurrency enthusiasts witnessed the U.S. Department of Justice (DoJ) initiated a probe earlier this week that aims to look for manipulation in Bitcoin market values. Interestingly enough those watching order books watched thousands of cryptos being sold at market rates just before the mainstream media announced the DoJ probe, which to some traders that phenomenon indicated actual manipulation from the very organization’s initiating the probe.    

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
Cryptos have been in a bear market since the year started.

Bitcoin Cash Market Action

Bitcoin Cash markets have been seeing some losses over the past few days since our last markets update. Today’s trading sessions show BCH prices hovering around $ 1,038 as the past 24-hours have seen a drop of about 1 percent. Over the last seven days, BCH markets are down 13 percent with today’s trade volume hovering around $ 538Mn. Top exchanges trading the most BCH on May 26 are Okex, Hitbtc, Lbank, EXX, and Huobi. The top currency swapped with BCH today is BTC as the asset captures 44.8 percent of trades today. This is followed by tether (USDT 29.9%), USD (15.5%), KRW (7%), and the ETH (1%).

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

BCH/USD Technical Indicators

Looking at the 4-hour and 1-day charts for Bitfinex (BCH/USD) shows some mixed signals and deep consolidation. Right now RSI levels are around 39, showing oversold conditions, and the MACd shows convergence around -5 revealing momentum may pick up today. However, the two Simple Moving Averages (SMA) trend lines are still spread with the 100 SMA below the long-term 200 SMA. This indicates a continued bearish outlook as the path to resistance looks to the downside.

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
May 26, 2018, BCH/USD Bitfinex.

Bulls have eaten through lots of resistance over the past 24 hours and need to push past $ 1,070 for smoother seas. The next pitstop will be around $ 1,125 as BCH bulls will need to break this zone. If the bears continue relentlessly beating crypto-markets there are some solid foundations on the backside of BCH order books. Going downwards we will see pit stops at 950 and 900 per BCH if prices happened to drop that low going forward. Beyond that books become much thinner.

The Top Cryptocurrency Market Performances This Weekend

Overall most cryptocurrency markets are seeing some slight recovery today and consolidated behavior. Bitcoin Core (BTC) markets are up a hair at 0.61 percent for the intra-day but over the past seven days, markets are down 8.8 percent. BTC’s current weighted price average is $ 7,560 as BTC bulls are trying to break above current resistance. The second highest market cap held by Ethereum (ETH) is up today 0.42 percent and the price hovers around $ 605 per ETH. Ripple (XRP) markets are up 1 percent as one XRP is priced today at $ 0.62 cents. Lastly, the fifth position is still held by EOS, and out of the top five, it has improved the most seeing a 2 percent gain today. EOS is averaging around $ 12.65 per token at the time of publication.

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
Top ten cryptocurrency valuations on May 26, 2018.

The Verdict: Uncertainty Remains

The verdict this week is similar to our last markets update as traders still seem uncertain to where the ‘Good Ship Crypto’ will take them. 2017 was a wild ride but 2018 has been nothing but FUD, regulations, and bearish market sentiment. Even exciting developments and positive developments this spring have not been able to lift markets beyond the $ 10K region for weeks on end. Currently across social media, forums, and big trading groups on Telegram the sentiment remains uncertain over the course of the short term but long term sentiment continues to be bullish.

Where do you see the price of BCH, BTC, and other cryptocurrencies 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.”


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The post Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty appeared first on Bitcoin News.

Bitcoin News

CNN

Uncertainty surrounds US, North Korea summit

May 23, 2018 |

CNN’s Will Ripley reports that North Koreans want the upcoming summit between President Trump and Kim Jong Un to take place, despite sources saying Trump aides are skeptical the meeting will happen.
CNN.com – RSS Channel – World

As steel tariffs squeeze U.S. businesses, uncertainty threatens economic growth

April 30, 2018 |

“We’re in the dark, just like everybody else,” said an executive of a West Coast steel importer.

“This administration has been supposedly pro-business, but business doesn’t like uncertainty,” groused a distributor of stainless steel, who, like others, requested anonymity to avoid antagonizing officials.


L.A. Times – Business

Bitcoin Trade Drops in India Amid Uncertainty and Clampdown

March 21, 2018 |

Bitcoin Trade Drops in India amid Uncertainty and Clampdown

Regulatory pressures and a broadening bank clampdown have seriously affected cryptocurrency exchanges in India. Their representatives claim bitcoin trading has dropped as much as 90 percent in the last two months. Cryptos are not considered legal tender in the country and authorities have demonstrated a negative attitude towards their use. At the same time, leading Indian banks have taken steps to limit exchange operations even before any rules mandating such policies are adopted.

Also read: India Can’t Regulate Bitcoin Says Official

Regulatory Uncertainty, Hostile Attitude

Indian trading platforms have suffered from great uncertainty about the future of cryptocurrencies in the country. Authorities in Delhi have issued multiple warnings and have threatened to stifle the use of digital money for illicit purposes. They have repeatedly stated that cryptos, like bitcoin, are not considered legal tender in India. However, neither an outright ban, nor any clear regulations have been adopted to this day. While the work on a comprehensive legal framework continues, after unfulfilled promises that new regulations would be unveiled soon, some officials have recognized that it is proving impossible to effectively regulate cryptocurrencies.

Bitcoin Trade Drops in India amid Uncertainty and ClampdownDespite the absence of government regulations, Indian banks have taken matters into their own hands. Without any mandate from the Reserve Bank of India (RBI), commercial banks have been tightening the clamp on crypto trading. The country’s biggest financial institutions, including Citibank, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, and the State Bank of India, have already suspended trading accounts of bitcoin exchanges. They have also imposed measures to restrict crypto-related transactions conducted by ordinary citizens, with two banks notifying customers they cannot use their credit, debit and prepaid cards to purchase cryptocurrencies.

The regulatory uncertainty and the hostile attitude have caused a significant decrease in transactions on local bitcoin trading platforms, the Economic Times reported. “There is a 90 percent drop in the volume of trade across all Indian exchanges,” chief executive of Coinsecure, Mohit Kalra, told ET. “Our volumes are down from around 300-400 bitcoins daily in December to about 30-40 bitcoins a day now,” he added describing a 10-fold decrease.

Banks Accused of Disruptive Behavior

The actions of Indian banks mirror similar moves by some of the world’s biggest banks, like JP Morgan Chase, Bank of America and Citigroup. Last month they banned crypto purchases with their credit cards, justifying the measure with concerns about defaults due to dropping crypto values. Representatives of the Indian crypto industry have accused local banks of “irresponsible overreach”, “unilateral decisions”, and “disruptive stance”. “Without any clear mandate from regulators, asking us to close down our accounts, while refusing to give the reason in writing, is just disruptive to our business,” said Ajeet Khurana who is heading the Blockchain and Cryptocurrency Committee of India (BACC). The organization is working to introduce self-regulation in the sector.

Customers are panicking and getting agitated, as they are not able to receive their money.

That’s how the chief executive of another Indian exchange, Bixoxo, described the situation. “We are struggling to offer withdrawal services since our bank accounts are being shut. This has caused delays of up to one week for no mistake of ours”, said Hesham Rehman. “Our average volume has dropped from 300 – 500 bitcoins to 20 – 30 bitcoins now”, he added. The daily trading volumes of top Indian exchanges, like Zebpay and Koinex, have also decreased from 1,000 to 300-500 bitcoins.

Bitcoin Trade Drops in India amid Uncertainty and ClampdownAccording to Zebpay’s CEO Nischint Sanghavi, promoting the use of banking channels actually enables tracking and taxing cryptocurrencies. Banning it would not serve the purpose of curbing illegitimate transactions, he warmed. Sanghavi believes that know your customer procedures and anti-money laundering measures implemented by Indian exchanges can only aid the efforts to keep track of money flows.

The hostile environment has already forced two Indian platforms to suspend operations. Btcxindia and Ethexindia, serving about 35,000 customers, halted cryptocurrency trading on March 5. As news.Bitcoin.com previously reported, more and more Indians have been trying to buy cryptocurrencies from abroad through overseas accounts of relatives and friends. Others have resorted to cash-based trading to acquire bitcoins or other cryptos. According to some reports, a new law banning unregulated deposits is on the way. If such legislation is adopted in India without provisions to legalize the crypto sector, these trends are likely to continue to evolve.

Do you expect the clampdown on cryptocurrency trade in India to continue? Share your thoughts in the comments section below.   


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The post Bitcoin Trade Drops in India Amid Uncertainty and Clampdown appeared first on Bitcoin News.

Bitcoin News

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.

Bitcoin News

DoorDash’s Tony Xu finds uncertainty delivers growth

January 12, 2018 |

DoorDash is a fast-growing food-delivery service based in the Bay Area, operating in Los Angeles and several other large cities.
L.A. Times – Business

Eurozone Businesses, Consumers Undeterred by Political Uncertainty

October 31, 2017 |

Businesses and households in the 19 countries that use the euro are more upbeat about their prospects than they have been for almost 17 years, a sign that the currency area’s economic recovery is set to continue at a robust pace despite renewed threats to its political stability.
WSJ.com: What’s News Europe

CNN

Brexit showdown bringing uncertainty to UK

October 26, 2017 |

The showdown between the UK and the EU over money continues and the uncertainty is bringing along social anxiety for many. CNN’s Erin McLaughlin reports.
CNN.com – RSS Channel – World

CNN

Catalonia: Spaniards wake up to a week of uncertainty

October 9, 2017 |

Spaniards woke up Monday facing a week of political uncertainty, with Catalan regional leader Carles Puigdemont expected to declare independence from Spain within a matter of days.
CNN.com – RSS Channel – World