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    Home » Crypto News » Market Update Report April.10

    Market Update Report April.10

    Author: Jonathan Berger

    Last Updated Oct 1, 2019 @ 12:49

    This week we have seen a continuation of the bear market from the recent months, but the demand seems to stop further declines (for now) in the range around 6,500$, which is a strong support. A rumor regarding 10,000 Bitcoins found their way out from MTGOX’s wallet six days ago and has probably affected the market and was the cause for the quick drop from the 7300$ range to $6,600. The entire market cap is around 250$ billion and seems to be struggling not to shrink even more. Bitcoin dominance is at 44%, down 1% since last week. The trading volume is also on a downward trend and stands at an average of 10 billion USD per day.
    So, where was the action last week? Correct, the altcoins: XVG, one of the most interesting coins of the past week, stand out during times of a bear market as we have now. Also, it is impossible not to pay attention to ONT, which rose 80% against the dollar last week. Since ONT’s ICO last October, it has yielded 60 times return on investment in Ethereum, which could bring another wave of potential investors into the crypto markets.

     

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    Bitcoin or other crypto trading NOT BANNED in India – Exchanges like Unocoin & Zebpay release statements: Despite popular belief, crypto exchanges are not banned in India, according to statements made by Uno Coin and Zebpay.

    Soros, Rothschild, and Big Institutional Investors are Entering Bitcoin Market: The Soros Fund Management venture internally approved the trading of virtual coins in the past few months, while Rothchilds have been trading crypto through GBTC.

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    Chart Analysis

    Bitcoin

    Traded around $ 6700 when support is in the short-term range is around $ 6,500 and mid-term resistance lies around $ 7500. The long-term uptrend line from July 2017 is marked in green in the followin chart. Support areas are marked in yellow and in gray mark – support since last November. Check out our daily Bitcoin analysis.

    BTCUSD

     

    Ethereum

    Against USD, The declines were slowed last week and it is now traded around $ 390-400, resistance at this range is around 440$.

    ETHUSD

    Against Bitcoin, Ethereum even climbed up a little during last week. It is traded around 0.058BTC. Resistance at this range is around 0.06 BTC and support can be found around 0.055BTC.

    ETHBTC

     

    Zcash

    Against the dollar, volatility and declines have eased during the last week. Traded around $ 170, these zones also support zone. Resistance at $ 200. Is this the floor?

    ZECUSD

    Against Bitcoin, the downward trend continues but is no longer a large percentage drop. Support is around 0.025BTC. Currently traded not far, around 0.026BTC, resistance lies at 0.03 BTC.

    ZECBTC

     

    Bitcoin Cash

    Against the dollar the situation does not look so good. Short term support is still not seen in the range. Resistance – is difficult to determine at a time when the coin has not stopped its declines.

    BCHUSD

    Against Bitcoin, a fairly stable week for the coin. Traded around 0.094BTC where support is. Resistance level lies at 0.1BTC. From here, it does not seem that there will be much more to lose. Volatility decreases from week to week.

    BCHBTC

     

    NEO

    Against the dollar, the collapse from the ATH at the beginning of 2018 at $ 194 to $44… wow. It seems that the declines have stopped a bit and is now traded around $ 50. Resistance at $ 60, support at $ 45.

    NEOUSD

    Against Bitcoin a stable week to Neo, with a slight rise during the past two days. Traded around 0.0074BTC. Support at 0.007 BTC, resistance at 0.008 BTC.

    NEOBTC

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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

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    About The Author

    Jonathan Berger
    More posts by this author

    Breathing crypto since early 2013. Jonathan lives 24-7 analyzing market condition and current situation. One of his hobbies is mining very low-cap altcoins. Contact Jonathan: Facebook

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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
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