Day: July 21, 2018

FOMO Moments

A red start for the weekend in Crypto land; altcoins falling heavily are Dash, Cardano, Monero and Nem, only VeChain is climbing

Anticipation of a quantifiable recovery for crypto markets has faded as we enter the weekend. The selloff has continued and the rally appears to have been another blip in a lengthening bear market. Total market capitalization has fallen below $280 billion and looks to be heading further south.

After holding steady at $7,400 for a few days Bitcoin has fallen back by 1.7% to $7,320. Further declines could see BTC dropping below $7k again and into dangerous territory. Likewise with Ethereum however it has remained stable over the past 24 hours with no further losses, trading at $460.

Predictably the altcoins are all in the red for the third day though today’s losses are not as heavy as yesterday. Everything is down in the top ten with Cardano taking the biggest hit of just over 9%. ADA has consistently been one of the worst performing altcoins since its January all-time high. It is currently trading at $0.161 which is about the same level as it was this time last month. Stellar has also fallen back again by another 5.5% on the day to $0.274, the rest are down by 3-4%.

Dash is getting absolutely trounced this morning with a 12.7% slide to $240. Over the month is has lost 10% as all gains from the recent rally are getting wiped out. Other altcoins in the top twenty losing heavily are Monero and Nem, both down over 6% on the day.

The only cryptocurrency in the green in the top 25 is VeChain which is posting a 8.3% gain on the day to trade at $1.80. Since the beginning of May VEN has been absolutely trounced losing 67% from $5.50 to its current levels. Today’s gain raises VeChain back to its level this time last weekend. During the mid-week rally it broke $2 but since then has lost all gains.

A couple of obscure alts are also posting gains today, way down the chart is WAX and Kin which are both up around 4%. The rest are still be sold off though at a slower rate indicating that the next low may not be as low as the previous and another rally may be possible.

Total crypto market capitalization has fallen for the third day in a row. Today it is down 2.8% to $277 billion and still falling. Trade volume has also fallen again from $16 to $14 billion. Apart from VeChain the only other thing that is up at the moment is Bitcoin market dominance which has climbed 5.3% since last weekend to 45.3%.

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

The post Bears Regain Control as Crypto Selloff Continues appeared first on NewsBTC.

It was to be expected this weekend would be relatively interesting for all cryptocurrency markets. Even though the momentum is not overly positive, there is no outspoken bearish trend either. With Bitcoin losing a bit of ground, it seems most altcoins are keeping losses to a minimum. The Ethereum price may very well be the first top 10 coin to go in the green again later today.

Ethereum Price Shows Signs of Life

The past few days have not been positive for the Ethereum price. This is mainly because of steep losses in both USD and BTC value. The situation is slowly turning around, by the look of things, even though there is still a lot of work to be done first and foremost. Over the past 24 hours, the Ethereum price has remained virtually flat, which is rather surprising.

More specifically, there has been a 0.2% setback for the Ethereum price over the past 24 hours. Compared to yesterday’s 5-6% loss, the current sentiment is a lot more favorable first and foremost. This does not mean the Ethereum price will effectively recover some of its lost value in the coming hours and days, but there is no reason to expect any further steep declines as of yet.

Interestingly enough, Ethereum is recovering some of the lost ground compared to Bitcoin. With a 1.2% increase over the past 24 hours, things are looking relatively good, for the time being. This pushes the Ethereum price back to just over $460, even though it is still a lot lower compared to the $500 and more people were hoping to see after the promising start of this week.

The overall Ether trading volume is not on the decline just yet, which is pretty interesting to keep tabs on. With over $1.734bn in 24-hour trades, the current market sentiment looks rather appealing, although the struggles are far from over. This trading volume may not necessarily help to push the Ethereum price back in the green at this stage, although it is evident some positive momentum may appear on the horizon sooner rather than later.

For the time being, OKEx remains the leading exchange for ETH trading. Its USDT pair is leading the charge, well ahead of CoinEx’s BTC market and Bitfinex’s USD pair. Huobi and Binance add another two USDT pairs to the top five, which is rather interesting. All of these markets seem to putt he Ethereum price at the same value, for the time being, which means reaching $465 or more may very well be possible later today.

The weekend is always an interesting period for cryptocurrency trading, and this week will be no different, by the look of things.  If the current momentum remains in place, altcoins may successfully recover some lost value despite Bitcoin remaining in the red. Nothing has been set in stone just yet, though,  as everything is subject to change in this rather volatile industry.

When it comes to making big money in trading, the trend is your friend. But spotting the trend early is challenging. That’s where flags can help.