Crypto Market Suffers From Large Sell-Off

Twitter Facebook LinkedIn Over the past 24 hours, another $25 billion has been wiped out of the crypto market as major digital assets fell sharply in value. Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Stellar (XLM) recorded a loss of 14 percent, 14.5 percent, 45 percent, and 10 percent respectively, demonstrating a large decline in both volume and momentum. Bitcoin Cash Dropping More Than Any Asset As expected, Bitcoin Cash SV, a hard forked cryptocurrency created by the Craig Wright, Coingeek, and Calvin Ayre camp, fell from $170 to…

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Ripple Price Analysis: XRP/USD Outperforms Bitcoin And Ethereum

Key Highlights Ripple price is holding the $0.4600 support area with no bearish pressure against the US dollar. There is a short term bearish trend line formed with resistance at $0.4850 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could retest the $0.4600 or $0.4520 support level before a fresh upward move. Ripple price is trading with a positive bias against the US Dollar and Bitcoin. XRP/USD did not decline more than 1% whereas BTC/USD and Ethereum fell more than 10%. Ripple Price Analysis…

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Ethereum Price Analysis: ETH/USD Nosedives Below $150 Support

Key Highlights ETH price failed to recover and declined below the $150 level declined against the US Dollar. There is a short term bearish trend line in place with resistance at $150 on the hourly chart of ETH/USD (data feed via Kraken). The pair traded to multi month low and it could continue to move down below $140. Ethereum price fell sharply against the US Dollar and bitcoin. ETH/USD broke the $150 support and it is currently consolidating losses. Ethereum Price Analysis Yesterday, we saw a major decline below $175…

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Bitcoin Cash Price Analysis: BCH/USD Tumbles, $220 Next?

Key Points Bitcoin cash price declined heavily and traded below the $300 and $280 levels against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance at $315 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently trading near the $250 level and it could decline further towards $220. Bitcoin cash price is under heavy selling pressure against the US Dollar. BCH/USD could continue to move down and it may test the $220 level in the near term. Bitcoin Cash…

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Cardano (ADA/USD) Print New Lows

It’s back to red territory for altcoins and with double digit losses, prices are trading below important support levels. Leading the pack is LTC/USD which is down 14 percent in the last day and ADA/USD trading below 6 cents as bears print new all time lows. At this pace it is likely that Monero will further shrink and convincing close below $70 as sellers aim to drive prices towards $60. Let’s have a look at these charts: EOS/USD Price Analysis There has been a BCH–EOS flip and Dan Larimer’s coin…

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ICOs under Pressure, May Liquidate for Fiat

Latest Ethereum News It’s a selling frenzy out there. Although we cannot exactly pin-point the cause of this massive sell off, analysts and market pundits are linking this to the protracted hash wars between Bitcoin Cash ABC and SV. It has a contagion effect on Bitcoin since they share the same hashing algorithm and with the former backed by Bitmain, the network difficulty of BTC is drooping dragging prices and ETH with it. That is one theory. 1/ There is a big misconception that ICO companies have liquidated most of…

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Bitcoin Cash Hash War Costing Miners Millions in Lost Revenue

Twitter Facebook LinkedIn According to BitMEX Research, going under the assumption that much of the hash rate on both sides of the Bitcoin Cash “hash war” has been leased since the fork, says that BCH miners have collectively lost as much as $6.1 million in gross revenue since last week’s blockchain split — but that one side, Bitcoin SV, can’t “keep this up forever.” Source: Twitter Something which has to be noted in any such discussion is that the profits gained from such mining — or loss thereof — would…

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Hash Rate and Difficulty Drop, Bottoms Near

Latest Bitcoin News For the first time this year, Bitcoin prices did print below the $5,000 mark at CoinBase as reported and affirmed by statistics from CMC. While the losses were across the board, the marked drop in Bitcoin prices did shave the overall security and efficiency of the market. According to statistics, marking the drop of prices is the marked decrease of hash rate or network fire power and overall mining difficulty. This should be a concern for Bitcoin traders/investors. Though historical price movements hint that the bottoms  is…

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Plunging Stock, Crypto Markets Leave Investors Searching for Answers

Twitter Facebook LinkedIn The Monday Massacre reverberated throughout equities markets today, leaving its mark not only on the bitcoin price — which dropped below $5,000 for the first time this year — but on tech stocks as well. Recent Bitcoin Price Drop Attracts Bearish Analysis To make matters worse, the bitcoin price has not yet bottomed out, according to technical analysts at Bloomberg Intelligence. The global financial media portal eyes a further 70 percent drop in the digital currency that could lead its price as low as $1,500. For reference,…

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Bitcoin Price Dives Below $5,000 amid Choppy Market

Twitter Facebook LinkedIn The bitcoin price kicked off this week on a depressive note, extending its current bearish bias to another low level. The BTC/USD index fell from 5502-fiat to 4886-fiat on Monday, recording more than 11 percent in losses. The price action bled through crucial support levels that had a history of reversing bearish trends. It confirmed how investors are looking to take a break from cryptos until its political scenario improves. The recent Bitcoin Cash hard fork has set the market on fire, with big mining pools jockeying…

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