Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

Cryptocurrency markets have had a severe week over the last 7 days as many digital resources mislaid quite a bit of value that most coins had gained two weeks prior. Currently, markets are clearly consolidating and have remained rather fast over the last 24-hours. At the impulse Bitcoin Core (BTC) values have been hovering around $7,470-7,560 during the last few hours. Meanwhile, Bitcoin Cash (BCH) prices are usually holding just above the $1K segment at $1,038 per BCH at the time of publication.

Also Read: Bank in Argentina Launches BTC Settlement Services

A Crazy Volatile Week in Crypto-Land Filled With Lots of FUD

It’s been another crazy week in the universe of cryptocurrency markets as most of the recovered gains most digital resources collected from 3 weeks ago have been erased. Trade volume has been extremely low for scarcely every marketplace as the $13Bn value of trades is reduction than half the volume we saw two weeks ago. Many cryptocurrency enthusiasts witnessed the U.S. Department of Justice (DoJ) instituted a probe progressing this week that aims to look for strategy in Bitcoin marketplace values. Interestingly enough those examination sequence books watched thousands of cryptos being sole at marketplace rates just before the mainstream media announced the DoJ probe, which to some traders that materialisation indicated tangible strategy from the very organization’s initiating the probe.    

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
Cryptos have been in a bear marketplace since the year started.

Bitcoin Cash Market Action

Bitcoin Cash markets have been saying some waste over the past few days since our last markets update. Today’s trade sessions uncover BCH prices hovering around $1,038 as the past 24-hours have seen a dump of about 1 percent. Over the last 7 days, BCH markets are down 13 percent with today’s trade volume hovering around $538Mn. Top exchanges trade the most BCH on May 26 are Okex, Hitbtc, Lbank, EXX, and Huobi. The tip banking substituted with BCH today is BTC as the item captures 44.8 percent of trades today. This is followed by fasten (USDT 29.9%), USD (15.5%), KRW (7%), and the ETH (1%).

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

BCH/USD Technical Indicators

Looking at the 4-hour and 1-day charts for Bitfinex (BCH/USD) shows some churned signals and low consolidation. Right now RSI levels are around 39, display oversold conditions, and the MACd shows joining around -5 divulgence movement might collect up today. However, the two Simple Moving Averages (SMA) trend lines are still widespread with the 100 SMA subsequent the long-term 200 SMA. This indicates a continued bearish opinion as the trail to insurgency looks to the downside.

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
May 26, 2018, BCH/USD Bitfinex.

Bulls have eaten through lots of insurgency over the past 24 hours and need to pull past $1,070 for smoother seas. The subsequent pitstop will be around $1,125 as BCH bulls will need to mangle this zone. If the bears continue relentlessly violence crypto-markets there are some plain foundations on the backside of BCH sequence books. Going downwards we will see array stops at 950 and 900 per BCH if prices happened to dump that low going forward. Beyond that books turn much thinner.

The Top Cryptocurrency Market Performances This Weekend

Overall most cryptocurrency markets are saying some slight liberation today and combined behavior. Bitcoin Core (BTC) markets are up a hair at 0.61 percent for the intra-day but over the past 7 days, markets are down 8.8 percent. BTC’s stream weighted cost normal is $7,560 as BTC bulls are perplexing to mangle above stream resistance. The second tip market cap hold by Ethereum (ETH) is up today 0.42 percent and the cost hovers around $605 per ETH. Ripple (XRP) markets are up 1 percent as one XRP is labelled today at $0.62 cents. Lastly, the fifth position is still hold by EOS, and out of the tip five, it has softened the most saying a 2 percent benefit today. EOS is averaging around $12.65 per token at the time of publication.

Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty
Top 10 cryptocurrency valuations on May 26, 2018.

The Verdict: Uncertainty Remains

The outcome this week is identical to our last markets refurbish as traders still seem capricious to where the ‘Good Ship Crypto’ will take them. 2017 was a furious float but 2018 has been zero but FUD, regulations, and bearish marketplace sentiment. Even sparkling developments and certain developments this open have not been means to lift markets over the $10K segment for weeks on end. Currently opposite amicable media, forums, and big trade groups on Telegram the view stays capricious over the course of the brief tenure but long tenure view continues to be bullish.

Where do you see the cost of BCH, BTC, and other cryptocurrencies headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are dictated for informational functions only and should not to be deliberate as trade advice. Neither nor the author is obliged for any waste or gains, as the ultimate preference to control a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Images around Shutterstock, Trading View, and Satoshi Pulse.

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