Market volatility continues. Over the past week, the total market value reached a $470 billion, about half of the record we saw at the beginning of the year. At the time of writing, the market value is $430 billion, and it appears that a lot of money is flowing into alternative currencies. The most prominent of them this week were Bitcoin Cash (BCH) and ZRX, which generated a return on trading against Bitcoin.
Binance exchange added yesterday the currency BCN, who quickly climbed in value. In Binance, the price reached a peak of -2300 SAT, while in Polonix the price jumped from 70 SAT to around 200 SAT. As of this writing, the price is still trading in Binance 10 times higher, but in this situation we would not recommend trading or trying to close arbitrage gaps.
Anyway, it seems that the alternative coins season is still here and the dominance of Bitcoin continues to lose a percentage, now standing at 36.3% favoring Bitcoin.
In conclusion, every time the Bitcoin rate approaches $10,000 we see an increase in trading volume alongside resistance and containment of another rise. The situation in the market is unstable and it is still not entirely clear whether the correction is already behind us.
Warren Buffett continues to share his negative opinions on cryptocurrency, says it’s “gambling”. Warren Buffett, a famous American investor and a bitcoin critic, has never failed to blast cryptocurrency whenever the opportunity presents itself.
London Block Exchange (LBX) adds Bitcoin Cash (BCH) and Ethereum Classic (ETC) to its trading list. Investors trading with London Block Exchange (LBX), the only multi-crypto exchange in the U.K., can now trade Bitcoin Cash (BCH) and Ethereum Classic (ETC).
Goldman To Trade Bitcoin and Bitcoin Futures, executive Says Bitcoin is “not a fraud”. Rana Yared, an executive of Goldman Sachs, revealed that the company would start trading Bitcoin and Bitcoin futures.
Bitcoin will hit $20,000 and Ethereum will hit $15,000 – Reddit co-founder predicts. Alexis Ohanian, Reddit co-founder gave an astonishing prediction that Bitcoin will touch $20,000 and Ethereum will touch $15,000 by the end of the year.
Coinmarketcap removes from Bitcoin’s official website. A recent post on Reddit showed that Coinmarketcap has removed bitcoin.com from the Bitcoin website’s list. Although the removal is a notable action by Coinmarketcap, it was bound to happen.
Bitcoin Analyst cautions traders not to buy now. Nick Colas, the first analyst to cover Bitcoin in Wall Street, has drawn a red flag for cryptocurrency investors as a sign of threat. According to him, people are not signing up for new Bitcoin wallets.
There are about 3000 installed Bitcoin ATMs in the world. Not as popular as the traditional bank teller machines, cryptocurrency ATMs are important in the cryptospace. Most countries in the world have one or two of these special ATMs.
Charlie Shrem forecasts Bitcoin to cost above $10,000 after May. Charlie Shrem, the founder of Bitcoin Foundation, has revealed that May 2018 will be the last time for Bitcoin to trade below $10,000. His tweet reads: “May 2018 will be the last time we ever see bitcoin under $10,000.”
South Korea’s New FSS Chief to slacken Cryptocurrency Regulations. It’s a new dawn for South Korea cryptocurrency investors as the newly appointed South Korea’s Financial Supervisory Service (FSS) head, Yoon Suk-heun, announced that the country regulators would loosen the strict regulations on cryptocurrency.
Iceland’s 600 missing Bitcoin Mining Machines may Be In China. It has been reported that Iceland’s missing bitcoin miners may be in China and enquiries are being carried out.
Ethereum’s developers are more concerned about Scalability than SEC debate. Ethereum developers have shown very little interest in the ongoing debate of what makes the cryptocurrency a token; they are focused on improving the network.
Bill Gates blasts cryptocurrency, calling it “kind of a pure ‘greater fool theory’ type of investment.” Microsoft co-founder Bill Gates lashed out on bitcoin and Cryptocurrency in an interview with CNBC. He said he would short it if he could.
Kentucky Derby Now accepts Bitcoin Bets. Famous horse race, Kentucky Derby, recently announced that it has added bitcoin to its betting options. Bettors can now wager with the Cryptocurrency.
Another attempt to break the resistance around $10,000. On the other hand we also tested the support that holds around $9,000. Traded around $9,122 and according to technical analysis, support at $8,500
Against the dollar, resistance broke out around $700 and the price reached $840. However, the correction was not late to arrive and is now traded around $730. Support is being built around $680 and if the upward trend continues, the next resistance levels will be found around $900
Against Bitcoin. Traded around 0.08 BTC, support in this range was around 0.075 BTC and resistance at 0.083 BTC.
Against the dollar, resistance of $1,500 was breached and led to a sharp rally to a record high of $1,859, where the new resistance areas traded around $1,580 and support was at $1,450.
Against Bitcoin, it traded around 0.171 BTC with support at 0.16 BTC and the resistance range at 0.186 BTC.
When writing this, Enigma’s dollar value was $2.66, but trading is conducted against Atherom and Bitcoin and not against the dollar.
Against Ethereum, the correction continuous from the January peak which was around 0.008 ETH, traded around 0.0035 ETH with support at -0.003 ETH and has a resistance being built at -0.0045 ETH.
Against Bitcoin, Enigma has also undergone a correction since the peak of the year at 0.00057 BTC (an 85% correction). However, it appears that the market has short memory and it seems that the trend has changed direction. Traded around 0.00028 BTC with support in this range around 0.00025 BTC and resistance at 0.00032 BTC.
Jubik’s dollar value is $2.13, and trading is only against Bitcoin.
Against Bitcoin. since April, we saw an increase in the trading volume and an attempt to break through, followed by a correction. At that moment it seemed that the rate was stabilizing. Traded around 0.00023BTC with support at 0.0002 BTC and resistance at 0.00025 BTC in this range.
Against the dollar traded around $16 and support in this range built around $15. Will it hold? Resistance at $19…
Against Bitcoin, an increase in the trading volume with sharp spikes along the graph. It seems that something is happening in the currency recently. It Traded around 0.0017 BTC which is also the support area and resistance levels around 0.002 BTC.
