Crypto Market Wrap: Bitcoin Driving Momentum as Dominance Hits 2 Month High

Crypto markets are back in the green; Bitcoin leading them, Monero, Tezos and BAT top performers.
Market Wrap
Crypto markets are back in the green following a day that looked like a bigger dump was about to unfold. Markets had the jitters following the Binance BSV bashing but they quickly recovered and $5 billion or so has returned to crypto assets pushing total capitalization back over $175 billion again.
Bitcoin is leading the charge as it jumps over 3 percent to reach a five day high of $5,270 before a minor retreat. The next major resistance level for BTC is at $5,400 where it hit last Thursday. A break through this will lead on to higher highs and the rest of the market is likely to follow.
Ethereum has mirrored the gains of its big brother with 3 percent also to reach $167. There have been no independent movements for ETH since the rally a week ago. It is playing the digital sheep right now and copying Bitcoin.
The top ten is pretty much all in the green during the day’s Asian trading session though gains are mixed. The top performer is Binance Coin which has added 4.5 percent to reach $19.75, a three month high. The rest have made a percent or two as BTC pulls them up.
The top twenty paints a similar picture with the exception of two altcoins.  Tezos is pumping ten percent as it reaches $1.16. The momentum appears to be coming from the French finance minister’s public endorsement of XTZ a couple of days ago;

"I am thinking in particular of Tezos which allows the development of a blockchain protocol overcoming the known defects of public blockchains."@BrunoLeMaire, France Minister of the Economy and Finance in interview to @MagazineCapital #Tezos $XTZhttps://t.co/5jRz3N9MkX
— Tezos Announcements (@tezosbulletin) April 15, 2019

Monero is also having a strong run now as it adds 6 percent climbing to $68. Ontology also doing well with over 4 percent on the day and as expected BSV is still falling back, now down to $56.
FOMO: BAT Getting Attention
Today’s fomo spike is BAT which has jumped 12% on the day as volume ramps up to $50 million. More progress and adoption for the Brave browser and BAT micropayments is adding to the momentum.

Great to see @internetarchive receive "more than 9k Brave Attention Tokens (BAT) – the equivalent of $2500 USD! Every little bit makes a big difference." https://t.co/3FBLhUvnBb
— BasicAttentionToken (@AttentionToken) April 15, 2019

Aside from Tezos there are a few other altcoins doing well today and the include Status, Theta, WAX and Enjin Coin. ABBC Coin is the only one getting dumped at the moment as it loses 8 percent on the day. There are a few that are flat but the majority are gaining at the moment.
Total market cap 24 hours. Coinmarkertcap.com
Total crypto market capitalization has reached $176 billion following a gain of around $4 billion. Bitcoin is solely responsible for the current momentum and that has been reflected in its market dominance which has increased to 52.4%, its highest for two months.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Was it The ‘Wright’ Decision? Crypto Community and Markets React to BSV Delisting

When Bitcoin SV forked from Bitcoin Cash in November 2018 the resultant hash war was blamed by many as the catalyst for the final dump of crypto markets down to their lowest levels for 18 months. Five months later Bitcoin SV is still causing chaos for the community and crypto markets.
Did Binance Make The Right Call?
The world’s largest cryptocurrency exchange by adjusted volume delisted the controversial Bitcoin SV yesterday. The imbroglio all stems from BSV creator Craig Wright’s repeated threats to organizations and media outlets who refute his claims to be Satoshi Nakamoto.
The call to digital arms by Binance boss Changpeng Zhao encouraged others exchanges to do the same and some already have. Binance claims that BSV no longer meets its standards but the real reason goes much deeper than that. Many, such as Shapeshift, have already followed suit as has Blockchain.com;

Read more on our decision to discontinue support for #BSV by May 15th in our latest blog post: https://t.co/LzBPnTclxW https://t.co/rXtiRgxSaQ
— Blockchain (@blockchain) April 15, 2019

The crypto community, which uses Twitter as a primary means of communication, is a largely polarized group vehemently protective of their own favorites in the industry. The reaction, as expected, has been quite vocal. Major exchanges charge a fair whack to list a new crypto asset and as economist and crypto analyst Alex Krüger pointed out;
“Once every exchange is done delisting BSV, why stop there? Why don’t exchanges delist all sh*tcoins? Ah, that’s right, the more coins exchanges have, the more money they make.”
Others acknowledged the potential of insider trading if people know about CZ’s decision before he made it. It appears BSV was being shorted before the announcement since it slid 16% in during the previous week when markets were generally performing well.
Not all posts were supportive of the decision and saw it as detrimental for the industry in general;

Am I the only one who thinks Binance just shot themselves in the foot?
How do they go about discussing anything serious with a regulator after delisting a crypto because someone was mean to them?
— iang (@iang_fc) April 15, 2019

Cardano’s Charles Hoskinson did stick up for Binance and it is clear that Wright has wound up a lot of people in the industry;

I'm really proud of CZ and binance. They stood up for the entire commun ity against bullying and fraud. I hope more exchanges follow and we can end this dark chapter in Crypto's history https://t.co/16KEfOqsxP
— Charles Hoskinson (@IOHK_Charles) April 15, 2019

He followed up with “The precedent is don’t claim you’re Satoshi, patent everything that you can get your hands on, insult the people of Rwanda and then sue people who deny your claims” before adding “The investors should solely be angry at Craig for his conduct. He does not own our space. He is not entitled to behave like a petulant child and sue people who very rightly ask for evidence of his claims. If you invested in this man, then what do you expect?”
Crypto Markets React
A BSV dump was expected and it has done just that shedding 25% on the day down to $54. The majority of that outflow has been channeled into the coin that spawned it, Bitcoin Cash which spiked 12% at the time to $332. Markets in general are down today with Bitcoin falling back to just above $5,000 and $6 billion leaving the space overnight.
The bottom line, as this incident has highlighted, is that Binance is a profit driven corporation that is highly centralized and has an overreaching level of control over the wider industry. While all intentions may have been righteous, too much leverage by any one entity is the antithesis of what decentralized peer to peer currencies are all about.
Image from Shutterstock
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Crypto Market Wrap: Did Binance Just Cause a $6 Billion Dump?

Crypto markets cooling off again; Only Bitcoin Cash surviving as Bitcoin SV drowns.
Market Wrap
There has been no further momentum on crypto markets and the pullback appears to be decelerating. The Binance BSV debacle seems to have sent markets into a temporary tailspin as $6 billion left the space a few hours after the announcement. Volumes and total capitalization is thinning out again as it approaches $170 billion but no major decline has ensued.
Bitcoin dumped to an intraday low of $5,025 a few hours after Binance delisted its smaller sibling. It has slowly clawed back to just below $5,100 today though and appears to be comfortable holding this position for now. There is still a lot of resistance looming above this level though.
Ethereum has plunged almost 4 percent on the day as it fell back to $160. Markets have been generally bearish over the past 24 hours but ETH has taken a harder hit this time. XRP which has moved very little in recent days has receded 2.5% overnight falling back to $0.32.
The top ten is all in the red this morning during Asian trading. That is all aside from Bitcoin Cash which has mopped up losses from Bitcoin SV. BCH has added 5% on the day to reach $313 after an initial surge of 25% to surpass $330 as it continues to benefit from BSV’s misfortune. All other altcoins are dumping with Litecoin and Stellar dropping 4 – 5 percent and EOS and Cardano over 3%.
The top twenty is also all red at the time of writing. BSV has predictably started to collapse as Binance flexed its digital muscles sending this altcoin into free fall dumping over 20% down to $57 in a matter of hours. Tezos is almost back to a dollar losing 7% of its big pump from yesterday. NEO and Ontology are also in a bad way today dropping 5 percent and the rest are not far behind.
FOMO: Maximine Coin Creeps Up
There are no crazy fomo pumps going on at the moment. The top one hundred’s top performer is MXM but it has only made 5.5% on the day, this is how weak markets are today. BCH as mentioned is also doing well but there are very few altcoins in the green at the moment.
Bitcoin SV’s epic dump makes it the day’s biggest loser. Lambda is also falling back as it sheds 14 percent and Komodo is getting hit with an 11 percent slide on the day.
Total market capitalization 24 hours. Coinmarketcap.com
Total crypto market capitalization has shrunk by $6 billion since the same time yesterday with many asking if CZ’s decision had anything to do with it. In all likelihood it is just another unrelated minor correction as market cap drops back to $172 billion. Volume is still over $40 billion so a resistance break by one of the top cryptos could get things moving again today.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Is Bitcoin About to Move Again as Crypto Markets Awaken?

Weekends are usually pretty quiet for crypto markets. Unlike forex, digital assets can be traded around the clock and at weekends but old habits appear to die hard for traders. As we enter a new week there are big expectations for Bitcoin which could well make a move.
Mixed Outlook from Analysts
There has been virtually no movement on crypto markets for the past three days. Total market capitalization has hovered just above $170 billion which is $15 billion down from its 2019 highs last week. A push back to those highs could see markets reaching $200 billion again before the month is over however if Bitcoin fails to break key resistance levels, the consolidation could continue.
Analysts are generally mixed on short term price direction and some foresee a movement this week as technical indicators align again;

$Btc
Not much difference from previous posts. Would not be surprised to see some action tomorrow, as weekends often are quiet.
Do expect this RSI support to be broken this week pic.twitter.com/DkyczKKBZt
— The Cryptomist (@TheCryptomist) April 14, 2019

Others are not so optimistic and expect another big dump, as ‘The Crypto Dog’ tweeted yesterday;
“I could be completely wrong and get stuck sitting by myself on the sidelines, but it’s my opinion we see another wipe out on $ALTS and $BTC before we start trending onto new highs. Sitting mostly in fiat going into this week, waiting for opportunities to present themselves.”
A ‘broken price floor’ is what one trader described Bitcoin as having reached with heavy resistance at $5,800. There is expectation here for BTC to consolidate between $4,700 and $5,500 for a several weeks or even months before a larger breakout occurs.
Daily RSI is sitting right on 70 which is just on the edge of overbought territory. The ‘golden cross’ could also come into play as the two daily moving averages converge and are still on a path to intersect later this month.
Bitcoin prices had started to wake up again at the time of writing with a move from yesterday’s low of $5,060 up to touch $5,200 again for the first time since Thursday. Volume, which had dropped to single figures, is now back over $10 billion as Asian traders kick start the markets this Monday morning.
On the week BTC has fallen back almost 2 percent but since last week’s big dump back below $5,000 it has recovered around 4.5% to current levels indicating that the bulls are still in control for the time being.
Bitcoin prices 7 days. Coinmarketcap.com
The crypto twitter sphere has been preoccupied with the ‘guess who Satoshi is’ saga that has unfolded in recent days which has served as a temporary distraction for lack of market movement. This week has started with positive momentum but the leading assets at the moment are altcoins, primarily Bitcoin Cash and Litecoin. Each has added 8 to 9 percent on the day and are the top performing high cap coins at the time of writing.
Image from Shutterstock
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$5 Billion Back into Crypto Markets as Bitcoin Cash, Litecoin and Tezos Surge

Crypto markets moving again this Monday; Bitcoin Cash, Litecoin and Tezos cranking, Bitcoin holds gains.
Market Wrap
Monday brings fresh movement to crypto markets and it is upwards following three days of consolidation. A further $5 billion has been added back into crypto assets as the altcoins lead market cap back up towards $180 billion once again.
Bitcoin has spent the best part of the weekend floating around the $5,100 level. Since pulling back slightly on Sunday BTC has registered a gain of 2.3 percent to reach $5,180 at the time of writing. Sentiment is still bullish however more analysts are shifting into the correction camp and predicting a larger retreat for Bitcoin.
Ethereum is moving a little more as it approaches $170 again. The three percent gain has shifted volume levels back over $5 billion and ETH is back over the 100 hour moving average. Further gains are likely providing it can hold these levels above $165.
The top ten is all green at the moment but two altcoins have surged surging during Asian trading today. Bitcoin Cash jumped 10 percent to top $300 once again and take fourth place with a market cap reaching $5.3 billion. Fundamentals have been positive for BCH recently and it continues to outperform its big brother. Litecoin is the other big mover as it pumps 8% to reach $83 and flip EOS once again. The rest have made 2 – 4 percent aside from XRP which has barely moved.
The top twenty is also awash with green and some altcoins are ripping right now. Tezos is one of them with a big pump and Ontology is making a comeback with 5% added on the day. The rest are all climbing 3 – 4 percent on the day as markets move following weekend lethargy.
FOMO: Tezos On a Train
Tezos has surged 18% on the day to reach $1.15 and is today’s top one hundred top performer. The Foundation has updated its charter to improve its governance and Tezos ‘baking’ which is part of its staking based consensus protocol.
Maximine Coin is back on a pump again as it adds a further 15% to yesterday’s gains and Lambda is still on the fomo train with 12% more today. ABBC Coin is the only crypto getting a double digit dump as it loses 12% while the majority of the rest are in the green. Enjin Coin is also pulling back 6% today.
Total crypto market capitalization 24 hours. Coinmarketcap.com
Total crypto market cap is up $5 billion overnight to reach $176 billion and a slow and steady gain of just below 3 percent. Daily volume is approaching $40 billion again as Monday momentum starts to ramp up. The altcoins are commanding things at the moment as Bitcoin dominance drops below 52% once again.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Consolidation Continues, When Can We Expect a Breakout?

Crypto markets lethargic on lazy Sunday; Bitcoin Cash. Litecoin and IOTA falling back again, BNB holding.
Market Wrap
There has been little movement on crypto markets over the weekend. Gains have largely held though there have been more sellers than buyers for most of the coins. Total market capitalization has remained above $170 but could well drop back if the bears maintain their presence.
Bitcoin dropped to an intraday low of $5,060 a few hours ago before recovering back to over $5,100 where is has been for most of the weekend. Volume is back at $10 billion which indicates that the bulls could be running out of steam. BTC is down a little on last weekend’s prices but has held gains made over the month and is still on the path to the ‘golden cross’ which is a bullish sign.
Ethereum is slowly weakening also and is now back below $165 again. With no further bullish action markets are consolidating at this level but slowly trending downwards again. Without another big push by Bitcoin, Ethereum and the rest will continue to weaken as volumes decline.
The top ten is all red again today as altcoins start to slide during the Asian trading session. Bitcoin Cash and Litecoin have lost the most at around 3% falling back to $275 and $77 respectively. BCH has held on to fourth spot over EOS but only just. Binance Coin is the only one not to lose out at the moment as it adds a percent or so reaching $18.60.
The top twenty is also awash with red at the time of writing with largest losses happening at IOTA which has dumped 6.5% on the day. NEO, Ontology and Maker have all lost over 3% today and Bitcoin SV is not far behind.
FOMO: REPO Pumps Again
Today’s top performing altcoin in the top one hundred is Repo as it gets another pump of 30%. There appears to be nothing fundamentally driving momentum for this altcoin which is up and down on a daily basis. Following days of dumping Maximine Coin is finally recovering a little with a 20% pump today. Enjin Coin is also adding to yesterday’s gains with a further 12% today.
There is only one double digit dumper today and that is yesterday’s fomo coin, TrueChain, which has lost 10% on the day. WaykiChain continues to slide with 7% dropped and IOTA is also in pain at the moment.
Total market capitalization 24 hours. Coinmarketcap.com
Total crypto market capitalization has not moved a lot over the past 24 hours. A lazy Sunday appears to be in store as markets remain range bound at $172 billion, down $2 billion from the same time yesterday. Daily volume is diminishing and has dropped back to $35 billion as the consolidation continues.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Bitcoin Cash Surges to Retake Fourth Spot

Crypto markets back in the green; Bitcoin Cash leading the charge with BNB and ONT close behind.
Market Wrap
The news for the weekend is good – there has been no massive dump and yesterday’s pullback was just that as crypto markets recover again today. Markets are moving back up again today as total capitalization gets back to $175 billion and Bitcoin refuses to break support.
BTC falling back below $5,000 yesterday set alarm bells ringing throughout the crypto community as fears of a final capitulation started to fester. What actually transpired was a bounce off $5k and recovery back to $5,100 where Bitcoin has spent the best part of the past 24 hours.
Ethereum has been pretty static throughout and is still stuck at $165. ETH is back where it was this time last week but volume has trailed off to under $6 billion which is a sign of weakness so further losses are expected unless there is a big push by Bitcoin.
The top ten is largely green at the time of writing as the majority of altcoins recover from yesterday’s losses. Bitcoin Cash has made a big move of 7% to flip both Litecoin and EOS for fourth spot with a market cap over $5 billion as BCH reaches $284. Binance Coin is the second best performer in the top ten adding 6% on the day as BNB reaches $18.30.
The top twenty is also in recovery mode with the biggest gains coming from Ontology and Tezos at around 6%. Monero is the only altcoin in the red in this sector at the moment as XMR fails to make any gains on yesterday.
FOMO: Aurora Back Pumping
There are no major fomo drives going on at the moment but the top performer in the top one hundred is AOA on another pump. The 18 percent gain on the day is nothing really remarkable for this crypto as it is up and down like the proverbial yoyo. Nebulas is also getting a dose of fomo as it adds 16 percent today and Enjin Coin is not far behind with a similar gain.
Yesterday’s two pumps are predictably dumping today as Lambda and Crypto.com Chain drop 23 and 18 percent respectively. This is a clear indication that these altcoins are not being pumped by anything fundamental as losses are instant and very predictable.
Total market capitalization 24 hours. Coinmarketcap.com
Total market capitalization is back up to $174 billion as another $4 billion flows back in. Volume is at its lowest level for over a week at $43 billion indicating that the recent action could be slowing down and buyers are running out of steam. Bitcoin’s market dominance has reached 52% which is the highest it has been for at least a month.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Bitcoin Beats a Retreat Below $5k, Has The Final Capitulation Started?

The inevitable pullback has started and crypto markets are beating a retreat at the moment. Bitcoin is leading them down as it drops back below $5,000 dumping 6 percent on the day. The question now is how low will it go?
Minor Pullback or Major Correction?
A number of analysts had predicted a major capitulation before any real trend reversal begins and this could be the start of it. Looking at the charts last bear market cycle in 2015 they’re virtually identical to patterns emerging this time around.
If the same scenario plays out Bitcoin is about to dump back to around $4,000 or lower in what has been termed a final capitulation. This will be the trigger for an influx of buyers to drive prices back up and through current resistant levels at moving averages to mark a longer term trend reversal.
Crypto trader Josh Rager has anticipated more sideways trading until the CME futures expire later this month. A long drawn out accumulation period has also been predicted with some not expecting any real upwards momentum late this year.

$BTC could see some sideways action in the next couple weeks up until Bitcoin CME Futures expiration on 04/26
Not exactly expecting fireworks yet but it's only one scenario and it is a volatile asset
This accumulation cycle can likely take a lot longer than most people think pic.twitter.com/nPYLOFV4IB
— Josh Rager (@Josh_Rager) April 11, 2019

Others are a little more confident that markets will not slide back to new lows. A couple of months ago several analysts were predicting a massive dump all the way down to $2,000 or lower but those notions appear to have dried up.
Technical analyst Alex Krüger does not expect Bitcoin to fall that far back as there is major support still at $4,600 where the 200 day moving average is.

Coinbase high was $5489. Don't expect a pullback to $4000. Too deep.
– Support: 5000, 4780-4680, 4550 (200DMA), 4400, 4200– Resistance: 5350, 5500, 5750 (weak), 6000, 6400 https://t.co/IbAe07wTEZ
— Alex Krüger (@krugermacro) April 11, 2019

Total Market Cap Bleeds $18 Billion
This sentiment has been echoed by other traders looking at the market cap as a whole;

Odds are this bounces very soon. If you're still holding, I wouldn't panic and sell here.$crypto pic.twitter.com/secIs3gwrr
— The Hodlonaut Dog (@TheCryptoDog) April 12, 2019

Crypto markets have dumped over $18 billion since their 2019 high of $185 billion on Monday. Altcoins are purging the most at the moment with several such as Litecoin, Bitcoin Cash, Bitcoin SV and Ethereum Classic dumping double digits on the day. Markets have hit their lowest levels for the week with total cap dropping to $168 billion today. One key take is that total volume is still at its highest levels since the 2017 bull run, currently almost $60 billion traded per day.
According to TradingView Bitcoin dropped to a weekly low of $4,940 a few hours ago before making a slight recovery back to just below $5,000. BTC RSI on the one day chart has now dropped below 70 so the selloff could decelerate a little. The next few hours will be crucial in determining whether this is just a minor pullback or a major correction which could be the catalyst for the final capitulation.
Image from Shutterstock
 
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Crypto Market Wrap: $16 Billion Selloff Begins, Where Will it End?

Crypto markets pulling back sharply; Litecoin, EOS, Bitcoin Cash and SV getting smashed, Crypto.com gets fomo.
Market Wrap
As expected crypto markets are finally dumping as we end the week. Over $16 billion has been lost as markets fall from their 2019 high back to $170 billion or so. Bitcoin initiated the dump but so far has remained above key support levels. It is the altcoins that are bleeding today.
Bitcoin fell below $5,000 for the first time in a week and settled at $4,950 before recovering slightly. The failure to break resistance at $5,400 has sent BTC back down as it drops around 4% on the day. Many had predicted this pullback and foretell further losses back to major support at $4,600 where the 200 day moving average is.
Ethereum has fallen harder as expected with a drop of 5% back below $165 again. There was no push to $200 for ETH which is still rising and falling along with its big brother. The gap between it and XRP in third is now much larger though at almost $4 billion market cap.
The top ten is a sea of red during today’s Asian trading session. The altcoins are getting hammered, some by double digits. Litecoin is losing 9% today as it falls back to $77, EOS and Bitcoin Cash are not doing a great deal better with 24 hours loses of 6 – 7 percent. Stellar and Cardano have both dumped 5% as Tether moves back up the chart.
The top twenty is awash with equal pain as Bitcoin SV, Ontology and Maker dump ten percent a piece. Close behind is Tron, NEO and Ethereum Classic with losses of over 6% on the day.
FOMO: Crypto.com Crushing It
Despite the massive market correction Crypto.com’s Chain is flying today with a 25% fomo pump to $0.093 (1860 satoshis). There does not appear to be much driving the fomo, the only recent news is that the company donated $500k to Binance charity. South Korean markets are dominating trade in CRO with Upbit taking 40% of the total volume.
TrueChain is also getting fomo today with a 20% pump and Lambda is the third altcoin in double digits at 17%. KuCoin Shares are still getting dumped with a further 11% lost today. ABBC Coin and Revain, the usual suspects, are also dumping 10% each following recent pumps.
Total market capitalization 24 hours. Coinmarketcap.com
Total crypto market capitalization has lost 5.5% in 24 hours falling from around $180 to just below $170 billion. Markets reached a new 2019 high on Thursday with a brief surge to $186 billion but since then $16 billion has been wiped out. This could be a short term pullback or the beginning of a final capitulation that so many analysts have been talking about.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Potential Pullback Looms As Bitcoin Approaches Major Resistance Above $5,500

The arguments for a big market correction are gaining strength. As Bitcoin approaches another heavy resistance barrier buying pressure is likely to diminish as previous charts have shown. If and how far it will fall remains the big question this week.
Bitcoin Approaching 50 Week MA
When Bitcoin broke through the 200 day moving average there was a lot of optimism for a move up towards $6,000. However another big barrier stands in its way in the form of the 50 week moving average which is aligned with further horizontal resistance.
According to trader and analyst Josh Rager this could create a pivotal point for Bitcoin which has previously been held down by this technical indicator;

$BTC history says price tops no higher than $5,634 before a pullback
Previous bear market $BTC was held down securely under the 50-Week MA and current 50 MA sits near $5,634
Add to this horizontal resistance near $5,559 & you've got a very strong case for a potential pullback pic.twitter.com/C7LnIm7u6B
— Josh Rager (@Josh_Rager) April 8, 2019

Historically then Bitcoin’s highest price in the short term may only be $5,634 where it meets the 50 week moving average. During the bear market of 2015 this level proved to be a reversal point of the rally which led to a final capitulation before any major recovery began. The dump then saw BTC fall to around $200 which was 82% down from its previous all-time high. Sound familiar?
The 200 week moving average, not to be confused with the 200 day MA which Bitcoin broke through last week, has been a solid support zone then and today.
Pullback or More Consolidation to Come?
Charts are wonderful things as they can tell whatever story you want to hear. As a counter to the potential pullback theory is continued consolidation. Bitcoin consolidate for 150 days around $6,000 before breaking down. When it did it dumped 50%.
BTC also consolidated for 130 days at around $4,000 before breaking out which has driven a 25% gain.

$BTC consolidated for 150 days at 6000 before breaking down.Once it did it went down more than 50% in a month.$BTC consolidated for 130 days at 4000 before breaking up.We're currently up 25%.
I don't really see the rush to short.Even if we get rejected it'll take a while. pic.twitter.com/esXIvTyv1n
— DonAlt (@CryptoDonAlt) April 8, 2019

The call for Bitcoin back at $6,000 is also a strong one however at the moment it appears that the bearish outlook is the most dominant. Trading is largely psychological and many make the same mistakes time and time again. As Twitter’s ‘CryptoFib’ put it;
“The thing about trading that cracks me up is this.  Everybody wants to buy when it is going up into resistance.  But, they never buy when it is going down into support.  Amazing how that happens and why 90% of traders fail. It is all in the mind folks.”
These behavioral patterns are precisely what determine the levels of support and resistance in the first place and drive market momentum in both directions.
At the time of writing Bitcoin was still holding up above $5,200, but only just after hitting $5,300 twice and pulling back twice. From the start of last Tuesday’s big pump when Bitcoin reached $4,700 it is up over 11%. What is guaranteed is that when it does correct it will drop hard and fast before finding a new support level which is likely to be in the low $4,000s.
Image from Shutterstock
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Crypto Market Wrap: $6 Billion Retreat From 2019 High, How Low Will it Go?

Crypto markets retreat after yesterday’s high; Binance Coin, Cardano, BSV, NEO, Ethereum Classic and Maker dumping, Tron survives.
Market Wrap
Crypto markets are starting to correct as $6 billion gets dumped and traders take profits. The move was not unexpected as many had predicted a pullback for Bitcoin as it approached heavy resistance. The day after reaching a new 2019 total market capitalization has dropped back below $180 billion again.
Bitcoin hit an intraday high of $5,300 a few hours ago but could not break above it. It had recovered strongly from a low point of $5,150 during US trading the previous day but now appears to be correcting again as BTC falls back to $5,200. Big resistance looms ahead and the pullback has been predicted.
Ethereum has lost 3% on the day falling back to $176 from a 2019 high on Monday. ETH appears to have hit pivotal resistance at the 200 day moving average yesterday which it failed to overcome. If Bitcoin fails to hold above $5k, Ethereum will also fall along with the rest of the markets.
The top ten is a sea of red at the time of writing. Altcoins are starting to dump with the biggest losses suffered by Binance Coin and Cardano, both dropping 6% on the day. Bitcoin Cash and Litecoin have lost 4% as BCH flips LTC for fourth spot. XRP and XLM are about 3% down as the sellers gather momentum in fear of a big dump.
Top twenty losses are even greater with Bitcoin SV, NEO and Ethereum Classic dropping 7 percent a piece. Even a listing on Coinbase Pro could not prevent Maker dumping 7 percent today too. The only altcoin in the green in the top thirty right now is Tron which has made over 3% on the day as Justin Sun launches his own network;

Weekly Report1. Developments on SUN NETWORK.2. 40+exchanges support #BTT.3. #USDT–#TRON successfully tested airdrop on test network.4. @TRONSCAN_ORG showed new transactions records.5. @justinsuntron donated to HUPAN University established by Jack Ma.https://t.co/upp4neCcAQ
— TRON Foundation (@Tronfoundation) April 8, 2019

FOMO: REPO Dumping and Pumping
The top performing altcoin in the top one hundred right now is REPO up a whopping 90% following a dump of a similar amount yesterday. The extremely erratic price movements of this altcoin make it proper P&D material with very little fundamental basis. There are no other altcoins pumping at the moment although WaykiChain is up 9% on the day.
VestChain, having been reported as a scam coin, has dumped 46% over the past few hours. Maximine Coin continues to get battered losing another 15% today and Dogecoin is back in the doldrums with a 13% dump.
Total market capitalization 24 hours. Coinmarketcap.com
Total market capitalization has lost $6 billion over the past 24 hours as it retreats from a new yearly high to $179 billion. The 3% loss has not been unforeseen as corrections following new highs are inevitable. Altcoins appear to be leading the slide at the moment however as Bitcoin’s dominance climbs back over 51%.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Ethereum Rallies Ten Percent Today, Will ETH Continue to $200?

Ethereum generally missed out on last week’s big Bitcoin induced crypto rally as gains were way less than other digital assets such as Litecoin or Bitcoin Cash. ETH has woken up today though and is currently over 10% up as it approaches critical resistance levels.
ETH Nears Five Month High
From around $165 this time yesterday, Ethereum has woken up and surged to just below $185 over the past few hours. It is finally back at prices in mid-November before the big capitulation that resulted in markets falling to their lowest levels for 18 months.
Ethereum prices 24 hours. Counmarketcap.com
Daily volume has increased to $8.7 billion which is the highest ETH has seen for over a year. Ethereum market cap is approaching $20 billion which has enabled it to double the gap to third placed XRP which hasn’t done much at all recently.
Ethereum is reaching a critical stage though as it approaches the 200 day moving average which is traditionally a very strong level of resistance.

#ETH just hit 200 Day Moving Average, watch closely for price action
— ScienceGuy9489 (@ScienceGuy9489) April 8, 2019

The next major level of resistance if Ethereum does not pull back at the 200 MA is $200. It is a big ask but if the bulls maintain buying pressure on Ethereum it could surge all the way up to $250 in a short space of time;

[7 Apr] $ETH/USD was under the resistance zone on 5th Apr and we wanted it to retest the target#1 ($183). Today, it has done it.
Now, it'll face some resistance until $200. Once that's crossed, the target#2 of $149 would be highly probable.#ETH #Ethereum #blockchain #Crypto pic.twitter.com/0PTi3mrVNT
— Mihir Naik (@MihirNaik19) April 8, 2019

Fundamentals Still Good
Ethereum has taken a bashing in the media lately as rival platforms EOS and Tron surpass it in terms of active dApps. However, the second largest crypto asset on the globe is not in its death throes, in fact quite the opposite. Industry expert Anthony Sassano has compared Ethereum vital statistics from the last time it broke above $150 back in May 2017.

Ether first hit $150 on May 22nd 2017 – how has the Ethereum network grown since then? pic.twitter.com/woggzoXLkk
— Anthony Sassano (@sassal0x) April 5, 2019

The growth of the network is plain to see here with pretty much every metric substantially higher than it was two years ago. Prices aside, the fundamentals of this network are still very strong but it should be noted that Ethereum did not really have any real competitors back in early 2017. No EOS, Tron or Cardano in May 2017, the top four was exactly the same as today, and Ethereum Classic was seventh.
According to Trustnodes almost half a billion dollars worth of ETH is now locked up in decentralized applications. Maker DAO’s DAI holds the most with around 2.2 million ETH, with Ethereum Name Service (ENS) coming in second.
Ethereum has a long way to go and is still at the very early stages of development. Co-founder Vitalik Buterin has touted the Serenity upgrade as way to move Ethereum forward to become a next generation blockchain platform. The long awaited scaling solutions and the launch of Ethereum 2.0 will no doubt propel the platform back into contention with its rivals.
In the meantime traders are looking at a push towards $200 again but considering Ethereum’s recent performance they may have to wait a little longer.
Image from Shutterstock
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Ethereum Leads Crypto Markets to New 2019 High of $185 Billion

Crypto markets reach 2019 high; Ethereum way out ahead at the moment, Bitcoin still climbing, XLM and ETC going strong.
Market Wrap
Contrary to growing analyst opinion, crypto markets continue upwards and new 2019 highs are being made. There has been no major pullback as yet and total market capitalization has reached its highest level since mid-November as it exceeded $185 billion.
Bitcoin is still leading the way as it reached an intraday high of just over $5,300 a few hours ago. A small correction to $5,280 has occurred which has added 2.5% to BTC prices over the past 24 hours. From this point a second surge up to $6k does not look that far away and the bulls are still in control.
Ethereum is currently the dominant force driving markets at the moment. In a long awaited upswing ETH surged over 10% from $165 to $185 before a slight pullback to $183. It is currently at a pivotal point facing looming resistance at the 200 day moving average. Daily volume is up to $9 billion which is the highest it has been for Ethereum for well over a year.
The top ten is a mixed affair at the moment but the big two are clearly leading the way. Stellar is having a good run with 6% added on the day taking XLM to $0.134 and very close to BNB in seventh spot. Litecoin has retreated a little dropping 2.5% but it remains over $90 which is triple its January first price.
Top twenty action is also mixed during the day’s Asian trading session. Ethereum Classic is building on yesterday’s pump with another 8% on the day to reach $7.45. NEM is back in the big twenty with 6% added and Monero is making a move with 5% on the day.
FOMO: Verge Making a Comeback
Not much has been heard from the XVG camp since the epic pump and dump over a year ago but it is today’s top one hundred altcoin. The 17% surge appears to be another pump and dump though as there is very little on the team’s social media feeds to explain it. Binance has most of the trade at around 60%. Nano is also getting a good dose of fomo at the moment as it adds 16%.
Getting dropped is Maximine Coin again, the worst performer in the top one hundred losing 8% on the day. Bytom comes in second with a 6% slide but there are no major losers at the time of writing.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market cap has hit a new high for the year of just over $185 billion. The near five month high puts prices back at mid-November levels signaling that markets may be over the worst. Since January 1, total market cap has expanded by 48%, or $60 billion, and the bears are keeping quiet for the moment.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Ethereum Classic Pumps 25% as Hard Fork Proposal Proceeds

Crypto markets still moving up; Litecoin, Bitcoin Cash and Ethereum Classic leading the way.
Market Wrap
The momentum has continued throughout the weekend and crypto markets remain buoyant this Sunday. More movement from Bitcoin has pushed total market capitalization up towards $180 billion which is the highest it has been since November.
Bitcoin is up again as it reached a high of $5,200 before a slight pullback. The 2.5% gain on the day has taken BTC prices to $5,150 as volume builds back up and market cap reaches $90 billion. Since last weekend Bitcoin has gained a staggering 25% and optimism has returned for now.
Ethereum has had a minor run on the tails of its big brother and another 2% has taken ETH price to $168. Ethereum faces strong resistance over $170 but a break could send it all the way up to $200. XRP has pulled back from its rally at the end of the week and is back at $0.36 as the gap to ETH widens to over $2 billion in market cap.
The top ten is all in the green during today’s Asian trading session. Litecoin is leading the pack as it jumps 8.5% on the day to reach $95. Three figure LTC is not far away now and this altcoin has been one of the year’s top performers so far over doubling in price. Bitcoin Cash is also doing well at the moment with a gain of 8% taking it to $312. These two again are the clear leaders as the rest add a percent or two.
The top twenty’s big pump is Ethereum Classic which has surged 25% to just below $7. Volume has over doubled from $350 to $800 million. A proposed hard fork called Atlantis as specified in ECIP-1054 may be driving momentum for ETC.

Around a dozen #EthereumClassic contributors, developers, pool & node operators joined today's preliminary meeting covering ECIP-1054 Atlantis, even EF's @virgilgr joined the chat.
Re-Watch ECIP-1054 Community Meeting—Atlantis & #SpuriousDragon Upgradeshttps://t.co/13Tzs687VI
— Ethereum Classic (@eth_classic) April 5, 2019

The rest of the altcoins in the section are currently mixed with minor gains or losses today.
FOMO: Ethereum Classic Crushing it
ETC is the top performing altcoin in the top one hundred today. It has reached a new high for 2019 and is heading back towards price levels before November’s big dump. Ravencoin is back pumping again as it gets a 17% surge on the day as the fomo sends RVN to a new all-time high of $0.072 or 1400 satoshis. Augur is also getting a big move of 13% at the moment.
Getting dumped is Maximine Coin following a previous pump as usual. MXM has dropped 12% on the day. IOST and Aurora are also both dumping with 8% shed at the time of writing.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market capitalization has reached $180 billion, up $5 billion from this time yesterday. Daily volume is still high at $60 billion and momentum has seen most altcoins lifted to their highest prices for 2019. The trend at the moment is bullish but it remains to be seen if this action can be sustained for the longer term.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Monero Leads Markets in Weekend Consolidation

Crypto markets consolidating at the weekend; Minimal movement but Monero leading the way.
Market Wrap
Crypto markets are still holding up as we enter the weekend. Gains made in Tuesday’s epic pump have held and total market capitalization remains above $175 billion as the majority of crypto assets are in the green again today.
Bitcoin has remained over $5,000 for the best part of the past 24 hours. It is currently up a percent on yesterday’s prices and is trading at $5,030 at the time of writing. Volume, however, continues to shrink and has dropped to around $16 billion indicating that the momentum is waning.
Ethereum is still stagnant and hasn’t moved for the past few days. Currently priced at $165, ETH appears to be poised for further gains but is unlikely to move much unless Bitcoin does. Following its big pump yesterday, XRP has corrected and dropped a couple of percent on the day, falling back to $0.358.
The top ten is totally flat today with virtually no movement for any of the major crypto assets. Looking further down the charts at the top twenty there is a little more going on. Monero has picked up the pace and added 6% on the day to reach $70. Tezos and NEO are also moving a little with 3 – 4 percent added each and the rest are pretty immobile right now.
FOMO: Aurora Pumps Again
AOA is one of those classic pump and dump altcoins that is up and down like the proverbial yoyo. Yesterday’s dump has turned into today’s pump as Aurora makes 50% in another price spike that will likely do the complete opposite tomorrow. Bitcoin Gold is also doing well today as it makes over 20% bringing prices close to $20.
There are no big dumps going on at the moment but the coin at the bottom of the bit one hundred is KuCoin Shares which has dropped 6.5%. Pundi X is also dumping yesterday’s gains in a predictable pattern.
Total market capitalization 24 hours. Coinmarketcap.com
Total crypto market capitalization is currently at $175 billion which is the same as yesterday. There has been very little action over the past 24 hours and volume is shrinking fast, back to $50 billion today. The good news is that markets have held on to this week’s gains, the bad is that without further momentum things go fall back pretty quickly. Crypto winter is not over yet.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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