THELOGICALINDIAN - Theres been a lot of ambiguity stemming from the boilerplate medias assuming of South Koreas agenda asset abridgement and rumors of a trading ban has triggered some cogent cryptocurrency bazaar animation The amount of bitcoin took a tumble downwards bygone black to the 12775 USD breadth about 11 pm EDT afterwards it came abutting to acquisitive the 14900 ambit At the moment BTCUSD prices are aggravating to break aloft the 14K breadth and attempting to balance from yesterdays bazaar wounds
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After More South Korean Rumors, BTC Markets Head Southbound After Coming Close to $15K on January 10
Over the accomplished week, cryptocurrency investors accept been bedeviled on South Korea and the government’s contempo barter ‘crackdown.’ Much like China’s PBOC rumors affecting the amount of BTC, letters about South Korea accept been conflicting, and abounding with fear, uncertainty, and agnosticism (FUD). Right now there’s some ample aggregate demography abode common as over $17.4Bn in BTC has been traded over the accomplished 24 hours. The top bristles exchanges swapping the best bitcoin today are Bitfinex, Okex, Binance, GDAX, and Bitstamp.
The USD is the best traded bill commutual with BTC capturing 39% of the all-around barter volume. The Japanese yen occupies the additional position at 34% followed by binding (USDT 9.6%), the euro (4.7%), and the Korean won (4.4%). Right now according to Shapeshift and Changelly the best swapped altcoin with BTC is ethereum. As usual, during bearish cryptocurrency trading sessions binding USDT is capturing the fourth accomplished agenda bill barter aggregate globally. At the moment the amount per BTC/USD is almost amid $13,850 to $14,150 over the accomplished two hours.
Technical Indicators
Looking at the charts, bitcoin amount (BTC) markets are airy analytic able-bodied afterwards bygone evening’s amount dive. The two abbreviate and abiding Simple Moving Averages (SMA) beyond hairs on January 8. The 100 SMA is able-bodied beneath the longer-term 200 boilerplate which shows attrition may abide blame appear the downside. The Relative Strength Index (RSI) and Stochastic oscillators appearance overbought altitude accept anesthetized and some abatement is coming.
Order books appearance that in adjustment for beasts to beforehand they will accept to affected a massive bank at $14,900 up to $15,150. They approached this attrition aftermost night but bootless to breach the advertise orders. If things were to abide to arch southbound, adjustment books appearance on the behind a solid foundation starting at $13,500 all the way to $13,100. If the everyman ambit of attrition is broken, a far added attic could booty abode bringing BTC into the $12K zone. At the moment however, markets assume to be in accretion mode.
The Top Ten Digital Assets Dip Except for IOTA and Bitcoin Cash
The top ten cryptocurrencies are all in red except for bitcoin banknote (BCH) and IOTA. The additional better bazaar captivated by ethereum (ETH) is bottomward 9.6 percent, and one ETH is trading at $1,210. Ripple (XRP) has taken a cogent dive back its best aerial at $3.40 as the bill is now account $2 at columnist time. The amount of XRP kicked up a cleft today as Ripple Labs announced a affiliation with Moneygram on January 11.
Bitcoin banknote markets are captivation close as BCH has been artless by aftermost night’s downturn. BCH 24-hour barter aggregate is college than a few canicule above-mentioned at $2.6Bn, and markets are up 2%. One bitcoin banknote is trading at almost $2500-2650 over the accomplished two hours.
The fifth position captivated by Cardano (ADA) is bottomward as able-bodied seeing a allotment accident of 4.9% as one ADA is $0.68. Lastly, the blow of the top ten cryptocurrencies are bottomward amid 2-4% except for the agenda asset IOTA which is up 4.8%.
The Verdict
Overall it looks like BTC and a ample bind of cryptocurrencies may be headed appear some recovery. Earlier this morning on January 11 the South Korean Ministry of Strategy and Finance told the columnist that it did not accede with the statements fabricated by associates of the Ministry of Justice. “We do not allotment the aforementioned angle as the Ministry of Justice on a abeyant cryptocurrency barter ban,” revealed the MSF’s contempo announcement. Cryptocurrency markets accept responded with positivity but haven’t acquired about as abundant as the dip the night before.
Where do you see the amount of bitcoin and added agenda assets branch from here? Do you anticipate cryptocurrencies will see added gains? Let us apperceive in the comments below.
Disclaimer: Bitcoin amount 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.”
Images address of Shutterstock, Pixabay, Coinmarketcap, and Bitstamp.
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