Category Archives: Bitcoin Charts

Crypto Markets Report Losses, as Bitcoin (BTC) Grapples to Stay Afloat

The digital currency markets are posting modest declines, with Bitcoin (BTC) grappling to stay afloat, while its key counterparts continue to struggle in the red.

Mild advance, nothing big

BTC currently trades at around $3,467 as of this posting, gaining a mild 0.17 pct early this morning. The premier crypto climbed at 0.56 pct on its weekly chart, with its lowest price ceiling at $3,400 as of Jan. 28, and highest at $3,521 as of Feb. 3.

Ripple (XRP) has shed around 0.58 pct since late Tuesday, and now trades at $0.298. The altcoin started to experience a modest drop following a one-week peak point of about $0.333 last Jan 29.

Ethereum (ETH) – the third biggest coin in terms of market cap at $1123 billion – was slightly up 1.8 pct. As of this writing, ETH is trading at $107.64, shedding around 0.31 pct since late Tuesday.

How the others are faring

EOS, the 4th biggest cypto, is likewise shedding a percent loss for the day, trading around $2.40 at the time of this posting.  EOS has notched gains of roughly 4.74 pct in the last seven days, with a 12-pct drop on its weekly chart.

Binance Coin (BNB), on the other hand, is the day’s top advancer, soaring  9.5 pct and trading at around $7.79 as of presstime, based on CoinMarketCap’s index.

Total market cap of all 2,078 virtual currencies on the CoinMarketCap Index is around $113.8 billion as we speak, with a trading volume of around $16.4 billion.

Meanwhile, Cointelegraph on Tuesday disclosed that since the start of the year, major crypto exchanges have reportedly posted slight trading volumes, registering fresh lows not seen since 2017.

 

The post Crypto Markets Report Losses, as Bitcoin (BTC) Grapples to Stay Afloat appeared first on Live Bitcoin News.

Source: Bitcoin News

Bitcoin (BTC/USD) Makes Stop-Gap Recovery Despite Persistent Pressures

Bitcoin (BTC), hounded by recent setbacks fanned by widespread negativity and waning investor confidence, inched towards the middle of $3,400-$3,500 region.

Decent rebound needed

The world’s benchmark in the digital currency market, bitcoin is trading at $3,445, rallying around 1.5 percent on a day-over-day basis. While the crypto is making resistance to further slide south, a decent rebound at this stage looks premature.

Based on statistical figures disclosed by New York-headquartered OTC trading hub Genesis Global Trading, the volume of loans in cryptocurrency breached the $1B level in the final quarter of 2018, indicating a 200-percent rally at the close of the third quarter.

Finance analysts at Genesis Global Trading have likewise stressed the surge in interest in connection with the time when Bitcoin hit crucial support.

Unprecedented size

In a statement, Genesis Global Trading said that: “On Nov. 14, the price of bitcoin soared 16 percent in a single day, which jumpstarted a period of increased loan originations as short-sellers piled on with unprecedented size.”

The over-the-counter trading portal further commented that many long-short hedge funds saw breaching the $6,000 price mark as an accelerator through $5,000 and into the $4,000 barrier.

At the time of this posting, bitcoin remains the most popular investment commodity in GGT’s corporate inventory with a 75 percent stake.

Above critical support

Meanwhile, BTC/USD remains above the critical support ground of $3,400. Traders project a selloff that could stretch towards the next boundary $3,200 followed by $3,127 – which is the lowest mark of 2018 – if it makes a clearance.

On the upside, analysts cling to a maintainable shift towards the $3,500 level to hinge on an extended recovery with the next pivot pointed to the $3,600-$3.665 range.

Will bitcoin cling to a safe zone before plunging further? What’s your take?

The post Bitcoin (BTC/USD) Makes Stop-Gap Recovery Despite Persistent Pressures appeared first on Live Bitcoin News.

Source: Bitcoin News