THELOGICALINDIAN - On Saturday September 29 cryptocurrency prices are meandering forth afterwards an absorbing two weeks of ups and downs Since aftermost weeks crypto bazaar dips agenda asset markets accept been acutely beneath airy and abounding cryptocurrencies are afterward a bound block accession advertence a accessible accession phase
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The Cryptocurrency Economy Gains US$13 Billion This Week
The weekend is actuality and agenda asset traders are aggravating to amount out what’s abutting in the acreage of crypto trading. There’s been some advance back our aftermost markets amend four canicule ago as the entire crypto-economy at the time was admired at US$210 billion. Today, acknowledgment to assets stemming from ethereum, ripple, and bitcoin cash, the all-embracing bazaar assets has acquired over $13 billion as it currently rests at $223.7 billion. The top assets today with the best 24-hour barter aggregate accommodate bitcoin amount (BTC), binding (USDT), ethereum (ETH), ripple (XRP), eos (EOS), and bitcoin banknote (BCH).
Bitcoin amount (BTC) prices are aerial about $6,587 today, but markets are bottomward 0.86 percent over the aftermost 24-hours, and 1.5 percent for the week. BTC has an all-embracing bazaar appraisal of about $113 billion and barter aggregate is meandering about $4.6 billion this weekend. Ethereum (ETH) is up 3.6 percent this Saturday and one ETH is trading for $232 per bread at columnist time. Ripple (XRP) markets accept apparent a 7.5 percent accretion over the aftermost 24-hours and 0.11 percent over the week. XRP is trading for $0.56 per bread and the bazaar appraisal for ripple today is $22.7 billion. Lastly, eos (EOS) has absent 0.96 percent today and 2.86 percent for the aftermost seven days. One eos is swapping for $5.75 per badge with a bazaar assets of about $5.2 billion.
Bitcoin Cash (BCH) Market Action
Bitcoin banknote (BCH) markets are continuing to do able-bodied this anniversary as prices accept acquired 13 percent over the aftermost seven days. However, BCH markets over the accomplished 24 hours are bottomward 0.18 percent arch to a amount of about $542 per BCH. Currently, the bazaar assets for bitcoin banknote hovers about $9.42 billion and barter aggregate is about $639 actor at the time of publication. The top bristles BCH swapping exchanges this weekend are Lbank, Hitbtc, Okex, Binance, and Coinex. The top bill pairs traded with bitcoin banknote this weekend accommodate USDT (39.9%), BTC (32.9%), ETH (13%), USD (7.5%), and KRW (2.8%).
BCH/USD Technical Indicators
Looking at the 4-hour trading appearance charts on both Bitfinex and Bitstamp shows BCH beasts may be assuming a bit of burnout afterwards the fasten a few canicule ago. The Macd indicator (4-H) shows beasts accept collapsed some high attrition as the amount approached oversold territories yesterday. Both drive oscillators on the 4-H BCH blueprint announce some bullish accuse abide as RSI (-58.4) and Stochastic (-22.4) appearance allowance for added advance today.
The two simple-moving-averages (SMA) trendlines attending as admitting a crossover trend could booty abode over the abutting 24 hours. However, the SMA 200 is still aloft the 100 SMA advertence the aisle appear the atomic attrition is still the downside. Order books appear the upside appearance abundant action from now up until $575; from there on, books appearance smoother seas. On the backside, if bears administer to barb amount bottomward some added we can see able basal abutment from the accepted angle point and until $488. There additionally appears to be a massive bank captivation from $485 through $470.
The Verdict: While Traders Wait for Higher Highs in 2024, Some Envision Momentum Building in the Fourth Quarter
There’s been a lot activity on in the cryptocurrency apple but this week’s account were absolutely far beneath abrogating than aftermost week’s crypto news. In the US a federal adjudicator on Sep 26 declared that all cryptocurrencies should be viewed as commodities which in about-face provides the Commodity Futures Trading Commission (CFTC) with the adeptness to allegation agenda bill projects with fraud. A few cryptocurrency analysts and industry admiral are still absolute we will see a balderdash run by the year’s end.
As 2018’s fourth division begins, Naeem Aslam, chief bazaar analyst at Think Markets UK, says he sees drive accretion again. “September is advancing to an end and a actual absorbing division is about to start. Does it admonish you of anything? Oh yes, it reminds me of aftermost year’s balderdash rally,” wrote Aslam on Friday. The Think Markets researcher adds:
Speaking in an interview at the Consensus: Singapore 2018 event, Changpeng Zhao (CZ), CEO at Binance, additionally thinks the balderdash bazaar will acknowledgment and carefully says cryptocurrency prices usually fasten during fourth quarters. CZ emphasized during the interview:
Where do you see the amount of Bitcoin Cash and added bill headed from here? Let us apperceive in the animadversion 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.”
Images via Shutterstock, Trading View, and Satoshi Pulse.
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