THELOGICALINDIAN - All eyes accept been alert to cryptocurrency markets over the aftermost anniversary as a abundant majority of agenda asset ethics plummeted to their everyman prices back aftermost year Theres been a slight amount accretion and some circumscribed alongside activity demography abode as some bazaar assemblage accept acclaimed an attack to about-face the trend may be in the cards However others anticipate alike admitting we could see a slight improvement it could end up materializing into addition asleep cat animation arch to a bit added capitulation
Also read: Content Creators Can Earn BCH Using the Honest Cash Platform
The Top Cryptocurrencies Have Been Suffering From Deep Losses
For those who were acquisitive for some bullish cryptocurrency markets against the end of the year, attractive at the archive appropriate now may be a bit depressing. The absolute agenda asset abridgement has absent able-bodied over $70 billion in the aftermost two weeks and the attempt has appear to a arrest for now. This Friday, Nov. 23, the top agenda currencies are bottomward amid 4-8% over the aftermost 24 hours and the absolute crypto-market assets is aerial about $144 billion. Cryptocurrency all-around barter volume, in general, is weaker than aftermost anniversary with alone $14.8 billion swapped over the aftermost 24 hours.
Bitcoin amount (BTC) markets are bottomward 4% today and one BTC is averaging a atom amount of about $4,322. BTC has absent 22.6% over the aftermost seven canicule and commands a absolute bazaar appraisal of about $75 billion. Ripple (XRP) commands the additional atom today as anniversary XRP is trading for $0.40 per coin. The currency’s bazaar assets currently sits at $16.4 billion and has absent 13% over the advance of aftermost week. Ethereum (ETH) is assuming a atom amount of about $122 per ETH and seven-day archive appearance ETH markets accept absent 31%. Lastly, Stellar (XLM) holds the fifth position but has been affective aback and alternating for the fourth position with bitcoin banknote (BCH) a few times already. XLM is trading for $0.17 per bread and markets accept alone about 25.6% over the aftermost seven days.
Bitcoin Cash (BCH) Market Action
Bitcoin banknote (BCH) commands the fourth position amid all 2000 bill but as we mentioned aloft the cryptocurrency has been aggressive with arch (XLM) in adjustment to authority the fourth spot. At the time of publication, bitcoin banknote is trading for $207 per BCH but markets are bottomward 4.9% over the aftermost day. BCH markets accept additionally absent 48% over the advance of the aftermost anniversary back the angle that took abode on Nov. 15, which concluded up agreeable the chain.
Volume has gradually been aggressive aback up, however, as abounding exchanges are advancing aback online acceptance BCH deposits and trading. At the moment, over the aftermost 24 hours, BCH all-around barter aggregate is about $92 million. Similarly to our aftermost two bazaar updates, ethereum (ETH) is still the top traded bill brace with BCH today. ETH commands 39.2% of the all-around BCH barter aggregate and this is followed by BTC (34.7%), USDT (15.5%), KRW (7%), and the EUR (2.5%).
BCH/USD Technical Indicators
Looking at the 4-hour BCH/USD blueprint on Bitstamp shows bears accept managed to advance the amount bottomward acutely low. The Relative Strength Index (RSI -39) still indicates oversold altitude and the MACd is meandering in the average as well. The two continued and concise Simple Moving Averages (SMA) on the 4-hour BCH/USD blueprint appearance the two accept afresh beyond hairs. Currently, the concise 100 SMA is aloft the best appellation 200 SMA, advertence the aisle against the atomic attrition is the downside.
However, both trendlines are actual abutting and could acutely cantankerous hairs afresh in the abreast future. Order books on both abandon are appealing massive appropriate now, which agency there’s affluence of attrition aloft and some basal abutment beneath the accepted angle point. Bulls charge to aggregation up some amazing backbone to beat the accepted position all the way until $260 for some smoother seas. On the backside, bears don’t accept it so accessible either, as there is appealing solid abutment up until the $165 region.
The Verdict: End of the Year Cryptocurrency Trend Reversal Becomes More Uncertain
Overall, there is ambiguity for those acquisitive for cryptocurrency markets to appearance bearish-to-bullish trend changeabout against the end of 2018. Digital assets are not the alone markets hurting, as acceptable assets common accept additionally apparent abysmal amount declines over the aftermost two weeks. For instance, tech stocks and aerial crop band markets accept apparent animated affairs and drastic drops in amount beyond the globe. In accession to economic uncertainty on the all-around front, Tom Lee, the co-founder and arch of analysis at Fundstrat believes assertive affairs accept led to cryptocurrency bazaar sliding. “Crypto-specific contest accept led to greater ambiguity in the crypto market, including the advancing adamantine angle for Bitcoin Cash,” Lee explained the day afore the BCH split.
Do you anticipate cryptocurrency bazaar prices will balance any time soon? Let us apperceive what you anticipate is in abundance for agenda asset markets in the comments area below.
Disclaimer: Price accessories and markets updates are advised for advisory purposes alone and should not to be advised as trading advice. Neither Bitcoin.com nor the columnist is amenable for any losses or gains, as the ultimate accommodation to conduct a barter is fabricated by the reader. Always bethink that alone those in ascendancy of the clandestine keys are in ascendancy of the “money.”
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