Day: July 22, 2018

Mastercard suffered an outage last week that led to a hold-up for some transactions – and crypto supporters on social media quickly pounced.

FOMO Moments

Crypto land is pretty flat; altcoins recovering slightly are Stellar, Tezos and 0x, but Bitcoin Diamond is pumping

The weekend has been quiet in crypto land with no major gains or losses. Markets are up marginally creeping above $280 billion again but with little direction for future momentum.

Bitcoin has moved back towards its resistance level of $7,400, pushing slightly above it with a 1.7% gain to $7,450. If buyers continue throughout the day there could be another rally up towards $8k. Ethereum has been sluggish over the past few days with minor gains keeping it just above $465.

Altcoins are all in the green at the moment with Stellar leading the top ten pack regaining 7% on the day. XLM is currently trading at $0.295 according to CMC, it surpassed Litecoin to take sixth place in the charts last week. Since last Sunday Stellar has gained 27% from $0.214, against Bitcoin it is up 5.3% on the day to 3970 satoshis.

Cardano has regained just over 4% while the other altcoins in the top ten are showing 2-3% gains. Looking at the top twenty Tezos is the biggest mover with 4.5% on the day to trade at $2.22. The rest have made marginal upward movements but none are standing out. Decentralized exchange protocol 0x is making moves at the moment with a 7.5% climb to $1.18.

Today’s clear leader however is Bitcoin Diamond which has surged a whopping 60% in 24 hours. The spike happened a few hours ago propelling this Bitcoin offshoot to $4.70 from $2.27 in ten minutes. It has since pulled back to $3.55 which is a 64% jump from this time last weekend.

The BCD spike came from a HitBTC listing and subsequent Reuters, Nasdaq and Yahoo Finance coverage;

https://t.co/s4nbvvUuhy

— Bitcoin Diamond[BCD] (@BitcoinDiamond_) July 21, 2018

OKEx currently dominates BCD trade with 18% of the total volume, followed by Huobi and Binance. Trade volume for Bitcoin Diamond has not jumped in line with the pump indicating that prices could fall back to previous levels. BCD currently sits at 28^th spot with a market cap of $538 million.

Total crypto market capitalization has climbed slightly by just under 2% to $283 billion on the day. Trade volume however continues to fall and is down to $11 billion from $14 billion this time yesterday.

More on Bitcoin Diamond can be found here: http://btcd.io/

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 Cryptocurrency Market Update: Bitcoin Diamond (BCD) Price Doubles on HitBTC Listing appeared first on NewsBTC.

Making sense of the cryptocurrency markets is always a trivial undertaking. There is no reason for these markets to have gone through a bearish segment this week, even though that is exactly what happened. Today, the situation looks very different once again. All top currencies are surging, and it seems the Bitcoin Cash price will reclaim $800 soon.

Positive Bitcoin Cash Price Momentum is Needed

When the Bitcoin price goes in the green, it is evident the rest of the cryptocurrencies will follow pretty quickly. In the case of the Bitcoin Cash price, it has become apparent things are still looking pretty good right now. Thanks to a modest increase in value over the past 24 hours, the Bitcoin Cash price is on the verge of surpassing $800 in the coming hours.

These past 24 hours have resulted in a 3.2% gain. For Bitcoin Cash speculators, that is a more than welcome development after a few rough days. There is still a good chance all markets will go through a brief correction later today, but for the time being, things look relatively promising. Short-term momentum is never an indication of how markets will evolve in the coming days, though.

As one would come to expect from this brief spell of positive momentum, there is a likely chance Bitcoin Cash will continue to note gains over Bitcoin. As of right now, there is a 1.44% increase in the past 24 hours in favor of the altcoin. If this trend keeps up, the BCH/BTC ratio can potentially return to 0.11 in the coming days.

Sundays are usually a terrible day for cryptocurrency trading volume. This day is no different, as overall volume has declined to under $11bn. This is not causing major issues for Bitcoin Cash just yet, though, as the altcoin still benefits from a $490.43m worth of trading volume. That in itself is a pretty positive trend, all things considered. It may just be sufficient to keep the Bitcoin Cash price in the green for a while longer.

Looking over the exchanges, it is evident OKEx still tries to maintain its dominant position on the market. Succeeding in this mission may prove to be rather difficult, as RightBTC, EXX, and HitBTC are not that far behind. So far, there is no fiat currency pair in the top 10 for Bitcoin Cash, which can cause a lot of issues in the coming hours.

A positive Sunday can help the market sentiment turn around in the coming days. This week has not been overly successful by any means, as it is evident the markets have seen major setbacks for no apparent reason. Turning that situation around is still possible, as it seems the institutional demand for cryptocurrencies is picking up steam. When that demand materializes in big gains, things will definitely get very interesting.