$10 Billion Flows Back into Crypto Markets Despite Binance FUD

Crypto markets surge $10 billion on Saturday; Bitcoin leading, Litecoin, EOS, XMR and NEO following, BNB sliding. 
Market Wrap
Despite a lot of FUD emanating from the US and their flailing relationship with crypto exchanges, markets have actually gained over the past 24 hours. Over $10 billion has flowed back into crypto assets as Bitcoin broke through resistance and pulled the rest of the market back up with it. Total capitalization is back over $270 billion again as we enter the weekend.
Bitcoin has surged over 5 percent to reach an intraday high just north of $8,700 a few hours ago. Resistance at $8,200 was smashed and the last 24 hours has seen BTC climb back to its highest level for 12 days. It has currently leveled out at new resistance just below $8,700, further gains could see Bitcoin reach $9k again soon.
Ethereum has been dragged up as expected but has only managed just below 4 percent to reach $265. The head and shoulders that formed on ETH yesterday did not play out as it predictably mirrored Bitcoin’s movements.
The top ten is largely in the green despite Binance and Bittrex shunning US customers for certain altcoin markets. Litecoin and EOS have gained over 4 percent each taking them to $136 and $6.72 respectively. BSV and BCH are around 3 percent up right now but Binance Coin is cooling off with a slide of 4 percent.
There is more green in the top twenty also as Monero and NEO make 5 percent each climbing to $94 and $13.70 respectively. The rest are relatively flat though with just minor gains on yesterday’s prices.
FOMO: KuCoin Shares Cranking
The top altcoin in the crypto top one hundred at the moment is KCS adding 16 percent to reach $1.50. The gain could be a result of US users moving from Binance and Bittrex into other exchanges as the fallout continues to affect lower cap altcoins. Nash Exchange has entered the top one hundred gaining 15 percent and Santiment Network Token is the only other double digit coin today.
There are no altcoins dumping hard this Saturday but those at the bottom of the pile are Waltonchain and Nano both dropping over 6 percent.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market capitalization has surged $10 billion, or 3.8 percent, to $273 billion today. Bitcoin has been largely responsible for the market movement and its dominance has increased to 56.4 percent as a result. Total trade volume is up to $67 billion and the US customer clampdown does not seem to have impacted markets on a wider scale just 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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Altcoin Crypto Trading Axed For Americans as Bittrex Follows Binance

News that the world’s largest crypto exchange by trading volume, Binance, has curtailed services to US customers sent shockwaves across the crypto community yesterday. Today it is the turn of Bittrex which has followed suit by announcing that certain markets will no longer be accessible to US clients.
Crypto Assets Moving to Bittrex International
In an email to its users and an official announcement on its website, Seattle Washington-based Bittrex stated that it would be making major market availability changes for US customers on June 28. What followed was a list of altcoins that it would be moving to its international platform.
Altcoin markets closing to US customers.
The exchange added that US customers will be sent an additional email advising what they can and cannot do with their affected tokens. After the affected change date US customers will not be able to buy and sell any of these tokens.
Any open orders will be cancelled on the change date but users can still withdraw or hold the tokens in their Bittrex wallets as long as they are still supported on Bittrex International. Non-US customers will still be able to trade all of the affected tokens. The notice added;
“Like other industry participants, we will continue to advocate for laws and regulations that foster innovation.”
In the FAQ section below the announcement elaborated that certain markets will no longer be accessible to US customers and they will have access to a more limited number of markets than are available to non-US customers on Bittrex International.
Bittrex stated that wallets and custody will remain ‘reasonable time after the market is removed’ to US users. There was a vague answer to the question; “Is Bittrex leaving the US?” which appeared to indicate that the company was slowly shifting its primary operations to its international platform.
The crypto sphere is still reeling from yesterday’s Binance announcement that it would be launching a US based exchange with a limited number of tokens. US regulators have been constantly pressuring the industry which has resulted in drastic measures by crypto exchanges that end up punishing US citizens by limiting their options.
Neither Binance nor Bittrex would want to lose the huge slice of the trading pie that the US represents but they need to play ball with fickle regulators and stringent policies. Binance has decided to partner with FinCEN-registered firm, BAM Trading Services, in order to launch a US compliant exchange there.
Market Reaction
A number of the lower cap altcoins mentioned in the Binance list did dump a little on the announcement but generally crypto markets are up today, lifted by Bitcoin which has broken through resistance and reached $8,700 again.
Image from Shutterstock
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Ethereum Head and Shoulders Could Lead to Further Losses

All eyes have been on Bitcoin in recent weeks as it continues to consolidate. Ethereum prices have practically mirrored what its big brother has done and analysts have eyed a clear head and shoulders pattern which could lead to further declines.
Ethereum made it back over $260 a few hours ago but has started to fall back again during today’s Asian trading session. The 1.5 percent slide has taken ETH back around $255 which is still higher than it has been for most of the past week.
According to Coinmarketcap.com Ethereum did drop below $230 briefly on Monday when crypto markets saw red. For the past few weeks however ETH has been range bound, trading between $230 and $270, largely following the movements of Bitcoin which has been hovering just below $8k.
Ethereum Head and Shoulders Pattern Clear
As usual the analysts have been eyeing the charts looking for patterns and one has depicted the clear formation of a head and shoulders.
“Forgive my drawing skills, but this is a classic Head and Shoulders pattern. Now, patterns can fail, but this gives you an idea of what I am thinking and what will negate it.”

$ETH Daily Chart
Forgive my drawing skills, but this is a classic Head and Shoulders pattern. Now, patterns can fail, but this gives you an idea of what I am thinking and what will negate it.#ETH pic.twitter.com/O7UguanTpR
— CryptoFibonacci (@CryptoFib) June 14, 2019

The pattern is a classic bearish reversal which usually leads to further declines below the neckline, currently at around $230 which is also the bottom of the recent Ethereum trading range. ‘CryptoFibonacci’ has also noted a classic volume decline which usually accompanies this pattern. Since the beginning of the month ETH volume has declined from over $13 billion down to $8 billion where it currently remains.
A break above $275 and retest of $280 could negate the pattern but that is only likely to happen if Bitcoin can break $8,200 and hold above it.
Not all are bearish though, full time crypto trader and analyst ‘Financial Survivalism’ has depicted a bull flag and early signs of a parabola instead of the head and shoulders;

This $ETH chart is why I am wiring money to @Gemini tomorrow morning pic.twitter.com/bvll97g52F
— Financial Survivalism (@Sawcruhteez) June 14, 2019

Most are in agreement that, like Bitcoin, any short term declines will lead to further accumulation which is likely to drive a bigger run in the coming months. Ethereum back over $300 is not too far-fetched looking at recent performance.
Fundamentally, the phased Serenity upgrade is still several months away. The first phase, Beacon Chain, will manage the Casper Proof of Stake protocol for itself and all of the shard chains. This is expected to be launched later this year according to the Ethereum roadmap.
In the short term ETH could fall back to $200 if the head and shoulders pattern plays out but longer term gains are virtually guaranteed. At the time of writing Ethereum was trading at $255, down 1.5 percent on the day.
Image from Shutterstock
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Crypto Market Wrap: Consolidation Could Crack on Bitcoin’s Next Move

Crypto markets still range bound; Bitcoin, BCH and BSV moving marginally, Litecoin, BNB and ADA fall back. 
Market Wrap
It has been another day of consolidation for crypto markets as they end the week flat. Very little movement outside of the channel has occurred this week as total market capitalization has been range bound around the $250 billion level. Things have picked up marginally for some crypto assets but others have lost ground.
Bitcoin hit an intraday high of just above $8,300 a few hours ago but pulled back to its current price of $8,230. The move is bullish but not strong enough to break the resistance at this level. Volume has picked up again and is approaching $20 billion which is a sign that further gains could be on the cards.
Ethereum is still flat and holding around $255. There has been very little momentum in the ETH camp and it is down 1.5 percent on the day. Volume is declining as the head and shoulders formation reaches its closure and a drop could be imminent. Current support for ETH lies at $230.
The top ten is showing more red than green during Asian trading this morning. The only two aside from Bitcoin that are up on the day are Bitcoin Cash with 2.5 percent and Bitcoin SV with 3.5 percent. The rest are in the red with Litecoin and Binance Coin dropping the most at over 3 percent each.
Top twenty movements are also minimal with a couple of percent being dropped by Cardano and Tron. Gaining a similar amount are Cosmos and NEO reaching $6.25 and $13.13 respectively. The rest are plus or minus a percent or so as the crypto consolidation continues.
FOMO: Chainlink Spikes on Google Hints
It comes as no surprise that today’s top one hundred top performer is Chainlink. The 43 percent spike came after Google Cloud dropped hints that it would be working with Ethereum based LINK. The Reddit feed went wild and the altcoin spiked in volume from $24 million to $390 million as the fomo frenzy gathered pace. Binance is getting the majority of trade at the moment with 67 percent.
Energi is a newcomer to the top one hundred with a 30 percent pump as NRG gets listed on KuCoin. Bytom has also had a productive 24 hours with 14 percent added. As predicted the big dump is Aurora as it peaks and troughs on a daily basis, today dumping 50 percent for no obvious reason.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market capitalization is currently marginally higher than this time yesterday at $262 billion. Markets are still range bound however and are unlikely to see any bigger moves until Bitcoin breaks out. The push back above $8,200, albeit briefly, is a bullish sign though so the weekend in crypto land could get interesting.
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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Litecoin Surges as Halving Nears, Can it Hit $200 in 60 Days?

Crypto markets have continued with their consolidation, waiting for Bitcoin to make a move. There are very few crypto assets doing anything today, but Litecoin is one of them, lifted further as the halving approaches.
60 Days To Litecoin Halving
In the past few hours Litecoin has started to move upwards again. From $102 a few hours ago LTC surged to an intraday high of $113 marking a jump of almost 11 percent. Daily volume has climbed over $5 billion pushing market cap up to $7 billion.
Litecoin has recovered almost all of its losses over the past week whereas big brother Bitcoin is down almost 7 percent over the same period. Crypto trader going by the handle ‘CryptoFibonacci’ has been eyeing the LTC charts for some time predicting that it will continue to rise;
“Said last night that I liked the price action. I still like it. Expecting another retest of 122-124 area fairly soon, IMO.”

$LTC Daily Chart.
Said last night that I liked the price action. I still like it. Expecting another retest of 122-124 area fairly soon, IMO.#LTC pic.twitter.com/NAG8eXRNgr
— CryptoFibonacci (@CryptoFib) June 7, 2019

The support zones can be clearly seen at the moving averages and the next resistance level is just over $120 as mentioned. With the current bullish momentum, further upsides for LTC are likely regardless of what Bitcoin does next.
There is little doubt that the Litecoin halving, which is only 60 days away now, is driving momentum. After this date the block reward halves from 25 to 12.5. This has the perceived effect of decreasing the supply while increasing the difficulty to mine new coins. Halving has been written into the code to control inflation and prolong network longevity. Current LTC inflation is 8.83% whereas after the halving it will drop to 4.26%. Halving events always have a bullish run up and the same is expected to occur for the Bitcoin halving in May 2020.
Additionally LTC hash rate is at an all-time high of 374T as is difficulty. This is a measure of computational horsepower on the network and number of miners supporting it, which also extremely bullish for demand and price.
$200 By August?
So far this year Litecoin has outperformed the majority of its brethren, surging 275 percent from $30 on January first. LTC has recovered all losses from the bear market and is back at the same price it was this time last year. The only difference now is that the trend is up so further gains are virtually guaranteed.
There is a strong possibility that Litecoin could reach $200 by halving date on August 6th. Considering it went parabolic in December 2017 pumping from $100 to over $360 in less than two weeks on pure fomo, a move from here to $200 does not appear that farfetched. At the time of writing Litecoin was trading at $113, boosted 10 percent during the Asian trading session. The next 60 days are going to see a lot of action on the Litecoin charts.
Image from Shutterstock
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Crypto Market Wrap: Litecoin Leading Markets Higher With 10% Pump

Crypto markets inch up slowly; Litecoin and Tezos on a charge, BSV falling further back. 
Market Wrap
As we end another week in crypto land markets are starting to pick up a little. There has been no major breakout for Bitcoin yet but some of the altcoins are doing well and green is back in the tables. As a result total market capitalization is back over $250 billion again.
Yet again Bitcoin pushed just above $7,900 for an intraday high before pulling back. It subsequently dropped below $7,500 again hitting support for a double bottom. At the time of writing BTC is back to $7,900 trading flat on the day.
Ethereum has done virtually nothing over the past 24 hours and is still lulling just below $250. ETH is very unlikely to move until its big brother does, and it will definitely be in the same direction.
There is a little more activity in the top ten during today’s Asian trading action. Green dominates over red and Litecoin is the clear leader with a push of 10 percent to $113. Less than 60 days to the halving is driving momentum for LTC which is likely to climb higher in the coming weeks. Market cap has now surpassed $7 billion and it is very close to flipping BCH for fourth. XRP is the other mover today as it gains 5 percent as rumors of a MoneyGram buyout circulate. BSV continues to get dumped.
The top twenty cryptos have seen a lot of movement from Tezos which has surged 14 percent to $1.36. There does not appear to be a lot fundamentally feeding the fomo aside from rumors that Coinbase Custody is loading up on XTZ. The rest in this section are a percent or two in either direction today.
FOMO: Metaverse ETP Pumps
ETP is getting another spike today as it rises 16 percent following a recent Finwise event in Hong Kong. Aside from Tezos, HyperCash is also doing well gaining 13 percent on the day and Decentraland is up 11 percent.
Getting dumped at the messy end of the crypto top one hundred is Maximine Coin sliding 18 percent. Yesterday’s pump, SOLVE, is today’s dump as it drops 14 percent and the crypto stalwart MaidSafeCoin is losing out on the day sliding 11 percent.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market capitalization has picked up marginally, adding $3 billion to reach $253 billion. Volume is at $70 billion and the minor move not been enough to signal a wider break out yet. All eyes are still on Bitcoin which has dropped back in dominance slightly at the expense of Litecoin.
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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Multiple Scenarios For Bitcoin Price; Where Will BTC Go Next?

Price action is not linear so any movements in either direction will come in stages. Bitcoin’s two day slide of over a thousand dollars may not be over yet, but at the moment BTC appears to be taking a breather.
Bitcoin Scenarios
A number of scenarios could be on the cards for Bitcoin’s next move. Over the past 24 hours it has fallen from $8,000 to an intraday low just above $7,500 before starting to move back upwards again. The weekly picture is not so pretty as BTC is down 8.5 percent from its price levels this time last Wednesday.
Zooming out to the monthly view looks much more bullish with a 36 percent gain over the past 30 days. So where to next for Bitcoin? Traders and analysts have been doing the charts again and one of the more popular, Josh Rager, has suggested that there could be a short term bullish scenario;
“If Bitcoin wants to give short term relief, it can likely push up to retest prior resistance and mid-line of the channel before another move lower. You have to map out multiple scenarios and be ready for each (bullish and bearish),”

$BTC – Short term bullish scenario
If Bitcoin wants to give short term relief, it can likely push up to retest prior resistance and mid-line of the channel before another move lower
You have to map out multiple scenarios and be ready for each (bullish and bearish) pic.twitter.com/3D1StPLW63
— Josh Rager (@Josh_Rager) June 4, 2019

This move would take BTC back to support turned resistance at just below $8k. This appears to be what is panning out during the morning’s Asian trading session which has seen Bitcoin push back to $7,900 over the past few hours.
He added that it could also be bouncing off support making lower highs and a descending triangle which could lead to a drop below $7,600 again soon;
“$BTC might be playing a bouncing ball game at support. Lower highs near support will give you fair warning before a likely break below $7600s,”

$BTC….. might be playing a bouncing ball game at support
Lower highs near support will give you fair warning before a likely break below $7600s pic.twitter.com/5x5RxKFH2M
— Josh Rager (@Josh_Rager) June 4, 2019

When asked about an uber bearish scenario and a possible dump below December’s low of $3,200 he was confident that $5,500 would be the lowest it will go this time around.
Buy The Dip
The message coming from experienced traders is that corrections are natural and buying the dip is a good way forward. Many longer term technical signals have turned bullish indicating that this bull run is real. That is not to say that Bitcoin will not collapse below $5k again, just that the scenario is very unlikely looking at its current position.
Full time trader going by the twitter handle ‘The Crypto Dog’ pointed out “There is no doubt that $crypto is now experiencing a correction in a bull market, not the end of a relief bounce in a bear market.”
So far the correction for Bitcoin has been around 12 percent which is a long way off the 30 percent that it corrected by eight times during the last major uptrend. There could be more pain before the gain for BTC.
Image from Shutterstock
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Crypto Market Wrap: Altcoin Losses Accelerate as Correction Continues

Crypto markets sliding slowly; EOS, Cosmos ETC accelerating losses, BSV and Tron holding steady. 
Market Wrap
The crypto correction appears to have slowed today but has not reversed and the short term trend is still downwards. Markets have settled a little following yesterday’s big dump but further losses could be imminent. Total market capitalization has now dropped below $250 billion.
Bitcoin has spent a large part of the past 24 hours hovering around $8,000 but could not hold that level. A slide last night dropped it back below $7,500 but BTC has since recovered marginally. Lower highs and lower lows indicate further losses however; Bitcoin is currently trading at $7,750.
Ethereum has weakened slightly and is now back below $245. Price has turned short term bearish and it is likely to mimic what Bitcoin does over the course of the day. Major ETH support lies at $240.
The top ten is still largely in the red for the third day this week. Losses have decelerated though and altcoins appear to be preparing for a bounce which may be short lived. EOS has dumped a further 6 percent dropping back to $6.20 while Litecoin hold steady above it in fifth. The rest have not moved much aside from Bitcoin SV which, adding another 4 percent, could be manipulated again.
Top twenty movements during Asian crypto trading today are larger, and mostly in a southerly direction. Ethereum Classic has dumped the most with 11 percent back to $8.18 while Cosmos is close behind dropping 8. NEO and Tezos continue their slide with another 6 percent lost each. Only Tron is making a little back today as 4 percent is added to TRX to reach $0.035.
FOMO: HedgeTrade Hedges In
Something called HEDG has surged into the top one hundred with a 50 percent pump today however an obscure spike in price that instantly dumped is responsible. GXChain and Bytom are both going strong at the time of writing with 14 percent added each and Revain has been revived with a 13 percent gain on the day.
At the messy end of the tables Crypto.com Chain sliding back 12 percent. Ravencoin is also in a bad way this morning with an 8 percent dump.
Total market cap 24 hours.
Total crypto market capitalization has declined for another day but only by 1.6 percent to $248 billion. Over the week a downtrend has started to form and losses could accelerate if Bitcoin and its brethren cannot hold their support levels. Daily volume is still a high $80 billion and BTC dominance has crept back up to 55.7 percent.
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 Turns Bearish, How Low Will The Pullback Go This Time?

The Bitcoin rally is running out of steam it seems. A bearish candle closing below $8,200 has been a signal for further losses and, as expected, they came pretty quickly.
For the second time over the past seven days markets have fallen back instead of heading higher indicating that a correction is imminent. Bitcoin’s bearish close on the day does not bode well for future gains and analysts are mostly in agreement that $8,200 is a key level to hold over the next 24 hours to maintain momentum.
Bitcoin Drops Below $8,000
After spending most of the past day trading between $8,500 and $8,600 Bitcoin took another tumble a few hours ago. The slide sent BTC back to $7,950 as it dumped over 8 percent in a couple of hours. Currently hovering around $7,900, Bitcoin needs to return to $8,200 by end of trading today to prevent another collapse.
Bitcoin prices 24 hours – coinmarketcap.com
Crypto trader and chart guru, Josh Rager, has plotted the action and eyes the next daily support level at $7,626 or thereabouts.
“$BTC – Daily close Bearish. Bitcoin continues to push down quite aggressively and would like to see a move above $7824 and hold. Eyeing that previous CME futures gap that wasn’t explored at $7175. If Bulls don’t step in, I believe price is heading that way,”

$BTC – Daily close Bearish
Bitcoin continues to push down quite agressively and would like to see a move above $7824 and hold
Eyeing that previous CME futures gap that wasn't explored at $7175
If Bulls don't step in, I believe price is heading that way pic.twitter.com/fB9ew8qyz3
— Josh Rager (@Josh_Rager) June 4, 2019

Volume has increased to $23 billion but it is heavily red indicating that there could be short term relief before another move towards support. Rager added; “People have asked if that was short term sell off and the price is heading back up. Due to the amount of volume, it’s more likely price has short term relief that can last hours or days before another push down to retest support,”
Altcoins Bleeding Again
As usual Bitcoin is playing the digital pied piper, and a 7 percent dump for it spells a lot more pain for the altcoins, which still remain hopelessly coupled to BTC. Over $23 billion has been dumped out of crypto markets as the altcoins exodus accelerated during Asian trading today.
Ethereum and XRP have been hit by the same 7 percent dropping to $245 and $41 respectively. Bitcoin Cash and EOS have been bashed even further dumping over 10 percent each back to $395 and $6.65 respectively. Altcoin losses are even greater for the smaller cap ones as the rout continues.
May has been an epic month for crypto markets with a total gain of 50 percent so a correction is long overdue. The 30 percent action that many analysts have mentioned would drop Bitcoin back to $5,600 from current levels and total market cap down to $180 billion, where it was this time last month.
Image from Shutterstock
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Crypto Market Wrap: $20 Billion Gone Again as Bitcoin Tumbles

Crypto markets dump again as $22 billion is lost; Bitcoin Cash, EOS, ADA, IOTA, Tezos and BTT in a world of pain. 
Market Wrap
For the second time in less than a week crypto markets have taken a massive dump. Led by Bitcoin as it collapsed below $8,000, markets have shed over $22 billion as altcoins get battered in another correction cycle. The question now is; how far will they drop this time?
A few hours ago Bitcoin plunged 8 percent from $8,600 to $7,950. It has remained just below $8k ever since and appears poised to fall further. Analysts have targeted the $8,200 zone as a key price level BTC needs to reach before the day is out to avoid further losses.
Ethereum has done exactly the same, dumping almost 8 percent to fall back below $250. The market correction is likely to drag altcoins down even further as it has done on countless occasions before.
The top ten is bleeding hard during Asian trading today. Bitcoin Cash and EOS have taken the hardest hits dropping 10 percent in 24 hours. BCH is now at $390 with EOS plummeting to $6.60. Not far behind is XRP, Litecoin and Stellar sliding 8 percent each. Only BSV appears to have escaped as it remains flat for now.
The top twenty is equally battered at the moment with Cardano, IOTA, Tezos, NEO and NEM dumping doubles and wiping out weekly gains. Only Cosmos has survived as it shows the only green in the 40 at the moment with a 3 percent gain on the day.
FOMO: Zilliqa Still Surging
Defying the massive crypto purge is ZIL which has added a further 7.5 percent on the day to reach $0.022. Binance is getting most of the volume at 30 percent as Zilliqa climbs up the market cap chart to 44. June has been primed to be bullish for the project with new hires and the release of the Scilla Smart contract to the second annual Zilliqa day. Aurora and Maximine Coin are back on a pump today also.
The biggest dump of the day is BitTorrent token sliding 13 percent. Maybe Justin Sun is spending too much of crypto investors’ coin trying to impress billionaires.  Tron isn’t far behind with a 10 percent drop.

Looking forward to lunch with @WarrenBuffett. Will be a great opportunity for mutual understanding and knowledge transfer. It's a new era for #TRON and #BitTorrent, and also a big step for the whole #blockchain history. Let’s see what happens next. https://t.co/OOkpnFsBif pic.twitter.com/Sstkj6xkgs
— Justin Sun (@justinsuntron) June 3, 2019

Total market capitalization 24 hours. Coinmarketcap.com
Total crypto market capitalization has shrunk by $22 billion, or 8 percent, to $252 billion. The fall which started yesterday, mirrors that of last Friday and has been controlled by Bitcoin. Failure to hold here will lead to further losses and could see BTC back in the low $7,000s with altcoins even worse.
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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May Crypto Roundup: Markets Surged 50% as Bitcoin, Ethereum, BCH, EOS and IOTA Dominated

A 50 percent pump for crypto markets in May with BTC, ETH, BCH, EOS and IOTA gaining more than 50 percent each.
For a fourth month this year, crypto markets have surged with May market performance being the best so far. Total market capitalization surged by 50 percent in May, largely driven by Bitcoin which made it to $9,000. A ten month high of $285 billion was hit on May 30 before a slight pullback. Gains have been impressive for most of the top crypto assets and some have doubled in price.
Total market capitalization May 2019. Coinmarketcap.com
As in April, Bitcoin has been the driver of momentum for crypto markets continuing its uptrend and reaching a new 2019 high. Starting out at $5,350 Bitcoin surged 55 percent to end the month at $8,320. A high over $9,100 was touched at the end of May before a slight correction cooled markets off a little. BTC volume had surged to $25 billion and the scene was reminiscent of late 2017.
May Crypto Winners
Ethereum performance equaled that of Bitcoin has it pumped 60 percent to end the month at $260. Gains previously had been very hard to come by for ETH but May has finally seen a resurgence as it returned to highs not seen since August 2018.
XRP has not been as fruitful as the two above it but the Ripple token still managed a 37 percent gain in May to end it a $0.423. Bitcoin Cash did much better conversely with a surge of just under 60 percent to end the month at around $425.
Litecoin had a solid run in May jumping 48 percent from $74 to $110. LTC is likely to continue this momentum in the run up to its halving event in August. EOS matched ETH in terms of performance adding 60 percent over the month to end it at $7.75.
Binance Coin, which has been a train this year, made 45 percent in May moving from $22 to $32. BNB also hit a new all-time high of $35 just before month end. Bitcoin SV had been manipulated by a fake news scam so its 250 percent surge to $190 from $54 cannot really be considered. Rounding out the top ten is Stellar which has been slow to recover making just 30 percent to end May trading at $0.13.
Tron managed 34 percent in May climbing to $0.032 by the end of it and Cardano was even weaker adding just 22 percent over the month. Monero did much better with a 48 percent increase to end May at $92.
Dash made a similar 44 percent reaching $160 by month end while IOTA had better fundamentals driving it up 60 percent to $0.49. Cosmos increased by 43 percent, Ethereum Classic 39 percent, but Tezos only managed 21 percent. NEO gained a solid 35 percent and rounding out the top twenty was NEM surging almost 70 percent in May.
There were no losers last month which has been one of the best since the previous bull market. The top performing cryptocurrencies in May 2019 were Bitcoin, Ethereum, Bitcoin Cash, EOS, IOTA and NEM, all of which gained in excess of 50 percent. Those not performing so well getting smaller gains included Stellar, Cardano, and Tezos.
All figures from Coinmarketcap.com
Previous months: February 18 | March 18 | April 18 | May 18 | June 18 | July 18 | August 18 | September 18 | October 18 | November 18 | December 18 | January 19 | February 19 | March 19 | April 19
Image from Shutterstock
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Crypto Market Wrap: Is a Red Monday About to Intensify?

Crypto market consolidation continues Monday; XRP, BSV and ATOM still climbing, EOS and Tron falling back.
Market Wrap
The weekend has seen gains on crypto markets as another correction gets quashed. Friday’s big $25 billion dump did not extend into the weekend and things started to recover pretty quickly. Total market capitalization climbed above $270 billion again and the longer term uptrend is still going strong.
Bitcoin reached an intraday high late Sunday when it made it just above $8,800. Since then BTC retreated to $8,700 where it has spent most of the past day. A fall back to $8,600 has left it level on the day as the prospects of further losses mount.
Ethereum has remained flat on the day with virtually no movement. ETH is just under $270 at the time of writing and is likely to mimic whatever Bitcoin does in the next few hours, a move back to support at $250 is looking more likely.
There are only a couple of altcoins moving in the top ten at the time of writing. XRP has lifted itself up 4 percent or so to reach $0.448 and Bitcoin SV appears to be having another manipulated pump as it surges 17 percent. BSV is currently at $218 but considering how it got there leaves little confidence in this one.  Not a lot is going on with the rest of them aside from EOS which has dumped 5 percent failing to get any fomo from the weekend B1 event.
The top twenty also only has a couple of coins on the move. Cosmos is one of them as ATOM gets an 11 percent spike and Ethereum Classic is the other as it makes around 4 percent. Tron is following EOS and losing 5 percent but the rest are pretty flat on the day.
FOMO: Metaverse ETP Spikes
Today’s dose of fomo is going to ETP which has jumped 18 percent in the past few hours. Most of the trade is going on at RightBTC and there doesn’t appear to be much driving it. BSV as mentioned is getting pumped again and Maximine Coin is back up there with another 15 percent spike.
There are no big dumps going on at the moment as markets remain in consolidation mode. Those at the bottom of the performance pile for the top one hundred include Aion and Mixin dropping 7-8 percent each.
Total crypto market capitalization 24 hours. Coinmarketcap.com
Total crypto market capitalization is currently at $272 billion which is back to where it was this time yesterday. Aside from Friday’s up and down, crypto markets have been pretty sideways all week and are where they were again last Monday. A Bitcoin correction could be imminent as red starts to seep in to the markets on Monday.
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 Dumps 11 Percent in Hours, Has the Big BTC Pullback Started?

The latest crypto market movements have not been unexpected. The moment Bitcoin hit $9k it instantly recoiled like a reaction from a bee sting. The following candles were big red ones sending BTC down a thousand dollars in a couple of hours. Has the big correction finally begun?
Bitcoin Dumps 11% in a Couple of Hours
For the best part of yesterday Bitcoin hovered just above $8,700. One big spike a few hours ago sent BTC up to a new high for the year at $9,100 according to charts from Tradingview. It did not stay there long though and the reaction was swift and heavy with the following hourly candle dumping $500 back to $8,600.
BTC price 1HR candles – Tradingview.com
From there BTC declined even further as fears of the big pullback started to set in. The low point came six hours later when Bitcoin touched $8,000 again. Again it did not stay there long and instantly bounced off the support level back to $8,250 where it has currently settled.
Crypto trader Josh Rager had already predicted that any pullback would occur before Bitcoin reached its next resistance zone which was in the mid $9,000s.
“$BTC pullback came before the level everyone was expecting. Please read retweets from the last couple days. Majority have been front run all year and this is another case. Could still bounce from low $8ks to $9k+ but would like to see a daily close above $8200. Bulls stepping in,”

$BTC pullback came before the level everyone was expecting
Please read retweets from the last couple days
Majority have been front run all year and this is another case
Could still bounce from low $8ks to $9k+ but would like to see a daily close above $8200
Bulls stepping in pic.twitter.com/dDrhe6Mudc
— Josh Rager (@Josh_Rager) May 30, 2019

This appears to be what is currently happening as Bitcoin starts to consolidate just above $8,200 during Asian trading today. In a subsequent tweet, Rager adds that the move could be a prelude to a larger drop. He has been quite accurate so far.

$BTC – it's not perfect but looks like distribution to me
The fake-out over resistance before dump – classic pic.twitter.com/mGsxJYwhgN
— Josh Rager (@Josh_Rager) May 31, 2019

Altcoins Hammered Again
As usual the altcoins have been hit harder by Bitcoin’s big movement. Total crypto market capitalization has been smashed by $20 billion as it slides back to $260 billion from yesterday’s ten month high. Volume has surged to over $100 billion indicating that bigger things are about to happen.
A sea of red has enveloped the top fifteen crypto assets this Friday and some a dropping double digits. Ethereum has plunged over 8 percent as it slides back towards $250, EOS and Litecoin are not far behind. The biggest loss, as expected, is Bitcoin SV which has been smashed 20 percent following its fake news induced pump yesterday.
Day trading aside, most are in agreement that the next big upswing has already started and these corrections are just natural components of the ebb and flow of markets. If this is the start of the big 30 percent pullback then Bitcoin will return to $6k and total market cap will back below $200 billion. The uptrend will still be intact and accumulation will start leading to the next run up.
Image from Shutterstock
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Crypto Avalanche Continues as Bitcoin Correction Concerns Mount

Crypto markets correcting hard; BSV, BCH, bleeding, double digit losses for ADA, Tron, IOTA and Tezos.
Market Wrap
Following another 2019 high, Bitcoin and crypto markets are dumping this Friday as the red hot momentum could not be sustained. Wider fears of a larger correction are sending prices south at the moment as markets shed over $28 billion falling back below $260 billion total capitalization.
Bitcoin finally broke the $9k barrier a few hours ago when it touched $9,100 on Tradingview.com. That must have triggered a wave of automated sell signals that sent BTC plunging $600 in less than an hour. The rout did not stop there and Bitcoin fell all the way back to $8k before recovering slightly over the past couple of hours.
Ethereum, which is still painfully tied to the movements of Bitcoin, dumped 10 percent to send it back to $250 before a slight recovery and temporary stabilization just above it. A dump usually follows a new high so none of this has been unexpected.
The move has sent the usual cascade effect across the rest of the crypto markets. A sea of red can be seen during Asian trading today as the top ten altcoins get dumped. Following its manipulated pump yesterday Bitcoin SV is suffering the greatest dumping 20 percent back to $185 today. Its brother, Bitcoin Cash, is also in pain with a ten percent slide to $420. EOS could not escape despite a Coinbase listing as it too lost 8 percent on the day falling back to $7.40. The rest are shedding a similar amount at the moment.
Top twenty losses are even more painful with Cardano, Tron, IOTA, Tezos and NEO all losing between 10 and 12 percent on the day. Only Cosmos has survived with a 6 percent pump to $5.50 through no obvious fundamental reason.
FOMO: Monacoin Spikes
It is hard to find fomo when markets are bleeding but there is always one altcoin topping the top one hundred. Japan’s Monacoin is today’s big performer with a 20 percent pump to $1.30. There is nothing in the news to suggest why the Japanese are loading up on this one at the moment. Maximine Coin and Bytecoin are the only two other altcoins in double digits, making 10 percent each.
The two Bitcoin offshoots, Bitcoin Diamond and SV are bleeding out the most today with losses of around 20 percent each.
Total market capitalization 24 hours. Coinmarketcap.com
From a new 2019 and ten month high of $286 billion total market cap has hemorrhaged $29 billion to fall back to $257 billion. It is currently back over $260 billion, which is still up on the week, but further declines could be on the cards over the weekend. Bitcoin dominance is back over 56 percent as a result of the altcoin avalanche.
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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Has Altseason Begun as Bitcoin Dominance Begins to Dwindle?

What goes up must come down, or so the saying goes. Bitcoin’s epic ride over the past two months has seen it over double in price. Most of those gains have been at the expense of the altcoins, many of which have been lack luster lately. That could all be about to change as we gear up for altseason.
Bitcoin Dominance Dropping
One strong indicator that altcoins are about to make a revival is the fall in Bitcoin market dominance. Today it has fallen back to 55.3 percent, its lowest level since the beginning of the month. BTC dominance is still up compared to earlier this year but the slow decline could be a sign of altcoin resurgence.
Back before there was a plethora of stablecoins traders would convert from BTC to alts and vice versa, the two were inversely correlated. This may be starting to happen again, especially if confidence in Tether has fallen due to recent developments. Trader Josh Rager has also noticed the decline but maintains that it will not be altseason until dominance drops below 50 percent;
“% of $BTC dominance continues to slowly move down over the past 3 days. This is good for alts. I’m in $EOS which continues to make higher highs in USD and BTC. Nowhere near alt season yet (needs to break below 50% dominance) but good for trade setups,”

$BTC Dominance and $ALTs
% of $BTC dominance continues to slowly move down over the past 3 days
This is good for alts
I'm in $EOS which continues to make higher highs in USD and BTC
No where near alt season yet (needs to break below 50% dominance) but good for trade setups pic.twitter.com/8ul48aVV4q
— Josh Rager (@Josh_Rager) May 29, 2019

The discussion that followed indicated that this could happen as soon as next month, especially if Bitcoin pulls back sharply as expected. Rager has also recently tweeted about a possible 30 percent correction for BTC, which he notes has happened eight times during the last uptrend. If this happens soon it could dump Bitcoin all the way back to $6,000 which is also where major support lies.
Altcoins Starting to Pump
This would be very good for altcoins, some of which are already starting to take off. EOS has been mentioned above and that would not be a bad choice at the moment considering there is a big event and well hyped mystery announcement approaching at the weekend. The B1 event in Washington on June 1 is likely to induce more fomo for the Ethereum rivaling token which has already pumped 70 percent since the beginning of May.
EOS is still 60 percent down from its all-time high so a sub $10 price would not be considered a bad entry. EOS has ambitions to beat Ethereum and if that reality ever plays out the tokens may never be this low again. Remember, ETH was priced at below $10 in January 2017.
The other altcoin on a flyer today is Bitcoin SV which has doubled in price overnight. This, it turns out, has been a manipulated pump by scammers publishing fake news claiming that Craig Wright had transferred Bitcoin from the so-called Satoshi wallets to prove his identity.
Either way, the altcoins are waking up and when Bitcoin takes a breather some of them are likely to surge much higher than they are today.
Image from Shutterstock
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