Bitcoin Cash Price Analysis: BCH/USD Could Be Forced to Retest Low of $73.50
Recent gainers from the altcoin ranks underwent the biggest corrections on Thursday, as $11 billion was wiped off the tellurian marketplace in the space of a few hours.
The peep drop continues to corner solemnly downwards at time of writing, with Bitcoin already down 7% in a fallback to the $3,800 range. Ethereum’s tumble was twice as severe, as ETH fell 13% back down to the $130 range.
But, as always, it’s the new winners who get slaughtered the most in a bloodbath, and that hold loyal on Thursday too, as Holochain (HOT), NEO (NEO) and Pundi X (NPXS) all mislaid tighten to, or more than, a entertain of their marketplace caps.
Holochain (HOT) Price
Holochain surged to 92% gains in the past two weeks alone. The HOT token value took several leaps brazen from Dec into January, and clocked in 25% expansion on the recover of the latest Weiss Cryptocurrency Ratings. That was followed shortly following by a 31% jump fuelled by mainstream media pleasantness per the upcoming token barter to Holo Fuel.
Most of that swell was wiped out Thursday morning, as HOT fell 27% in value, from a cost of $0.000762 down to $0.000553. Binance stays the source of most liquidity for HOT trades, and the BTC and ETH markets criticism for tighten to 85% of the sum daily volume.
NEO movement built all via Dec and January, as the silver cost soared past monthly highs and returned to mid-November levels in the high $9 range.
When the drop struck, NEO was strike for around 16% of the marketplace value, descending from a silver cost of $9.77 down to $8.17. Another 10% tumble would clean out gains going all the way back to Dec 22nd.
Unlike Holo, NEO was essentially traded opposite USDT, as over 40% of the $187 million daily volume came from Tether markets.
Pundi X (NPXS) Price
How flushed it all looked for Pundi X just a few hours ago. A successful day out at CES 2019 saw Pundi’s blockchain-based XPhone denounced and lonesome by mainstream publications. Meanwhile the firm’s XPOS point-of-sale device was recently demonstrated in Norway – the first present crypto POS sale in the nation.
All of that resulted in a 23% cost travel for the coin. But as of Thursday, most of that was gone, as the silver cost fell from $0.000563 down to $0.000435 – a 22% detriment in reduction than twenty-four hours.
Global Pump and Dump?
If we look at the tellurian charts from the past two weeks, it appears as though the whole marketplace might have been theme to a siphon and dump.
After the Christmas surge, the normal pierce would have been for a correction, however, on Dec 28th, a remarkable liquid of $10 billion entered the marketplace in a two hour period. Just enough to get everybody vehement for a New Year longhorn run.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He binds investment positions in the coins, but does not rivet in short-term or day-trading.
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