Month: November 2018

Bitcoin Market Cap Below $100 Billion as BCH Hard Fork Spooks Investors

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Twitter Facebook LinkedIn It has been more than 24 hours since bitcoin scared investors with a sudden 10 percent drop. But there hasn’t been a concrete recovery action — yet. The bitcoin-to-dollar exchange rate has surged 2.21 percent from its previous low at 5291-fiat, now trading at 5408-fiat. The coin’s market cap has risen likewise but remains below the three-figure billion dollar valuation. The weekly chart on Coinbase indicates BTC/USD is testing the support area of a giant falling wedge formation. Technically, a falling wedge formation predicts a potential breakout…

SV Price Improving as BCH Fork Nears; ABC Behind

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Twitter Facebook LinkedIn With bitcoin cash mining its first forked block, the futures prices of SV and ABC are fluctuating wildly. The BCHSV futures price jumped 10.7 percent against the US dollar, rising from $88.12 to $97.51 within just an hour — before sinking below $90 after the fork. Meanwhile, the BCHABC futures price rate saw a 9 percent decline, declining to $273.50, before rallying to a high of $341 after the fork activated. As both the derivatives are working in the absence of an actual market cap, the price fluctuations…

XRP Eclipses Ethereum, What is Next For The Major Cryptocurrencies?

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In what has been one of the largest single purges of the cryptocurrency markets this year, Ripple’s XRP token has surpassed Ethereum in terms of market capitalization. The Bottom Just Fell Out Of The Bottom Just when we thought that things couldn’t get much worst and the bottom was in, the bottom fell out and markets nosedived again. Over the past 24 hours crypto markets have dumped almost $30 billion as they fell from around $210 billion to a 2018 low of $180 billion. The dust has settled at around…

Bitcoin Price Eyes $5K Defense as RSI Hits 4-Year Low

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Bitcoin is looking oversold after a drop to 13-month lows Wednesday and could defend immediate support at $5,000 in the next few days. The world’s top cryptocurrency by market value fell to $5,324 (price via Bitstamp) in a matter of hours yesterday, reaching its lowest level since Oct. 18. The average price across major exchanges, as calculated by CoinDesk’s Bitcoin Price Index fell 10 percent – the biggest single-day drop since March 30. While BTC had supposedly carved out a long-term bottom around $6,000, the convincing break below that level…

Bitcoin Price Watch: BTC/USD Breakdown Looks Like Real Deal

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Key Points Bitcoin price nosedived below the $6,150 and $5,650 support levels against the US Dollar. There is a short term contracting triangle formed with resistance at $5,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could correct higher, but upsides are likely to face sellers near $5,615 or $5,815. Bitcoin price declined heavily towards $5,400 against the US Dollar. BTC/USD may recover a few points, but upsides are likely to be capped by $5,800. Bitcoin Price Analysis Yesterday, we discussed a possible sell…

Regulatory Clarity Will Drive Crypto, Blockchain Adoption

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Twitter Facebook LinkedIn Commenting on the importance of regulation in the technology sector, Brad Garlinghouse, CEO of Ripple, said that introducing regulations will lead to blockchain and cryptocurrency adoption. Garlinghouse made these remarks while talking to the Deputy General Counsel, Ross Leckow, of the International Monetary Fund (IMF) at the Singapore Fintech Festival. The topic of their discussion revolved around the regulatory frameworks emerging in the Association of Southeast Asian Nations (ASEAN). Some of the ASEAN members include Singapore, Indonesia, Thailand, Malaysia, Philippines, among others. The Importance of Internet of Value “Regulatory clarity…

Ethereum Price Analysis: ETH/USD Sellers Back In Driver’s Seat

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Key Highlights ETH price declined heavily after it broke the $200 and $190 supports against the US Dollar. There is a short term contracting triangle formed with resistance at $178 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher, but upsides are likely to be capped near $180 or $185. Ethereum price declined heavily against the US Dollar and bitcoin. ETH/USD tested the $165 level and it remains at a risk of more losses. Ethereum Price Analysis There was a nasty decline in ETH…