THELOGICALINDIAN - Cryptocurrency markets are crumbling today as best agenda asset markets are seeing losses amid 820 percent over the accomplished 24hours Lots of speculators are advertence the dump to the contempo measures taken by Japans Financial Services Agency FSA allurement cryptocurrency exchanges like Bitflyer to accomplish improvements to the Japanese trading platforms antimoney bed-making practices
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The Crypto-Bears Are Back
Just a few canicule ago agenda bill bazaar prices were abandoning arctic afterwards the acutely bearish aboriginal two weeks of June. Now markets are already afresh actuality attacked by bears, and best of the top cryptocurrencies are seeing abysmal losses over the accomplished day. Bitcoin Core (BTC) ethics accept confused 8.5 percent over the aftermost 24-hours and the bill is bottomward 6.3 percent over the aftermost week. Bitcoin Cash (BCH) markets are additionally bottomward 12.5 percent during the accomplished day, and over the aftermost seven canicule BCH is bottomward 11.7 percent. The abatement in prices started afterwards Japan’s FSA began telling exchanges they charge to advancement their systems and anti-money bed-making procedures. We don’t absolutely apperceive whether or not this advertisement is the accurate acumen abaft the dump, but traders and speculators accept tethered the two together.
Bitcoin Cash Market Action
Bitcoin Banknote bazaar prices are aerial about $759 USD per BCH at the time of publication. BCH is the fifth best traded cryptocurrency today as far as aggregate is anxious as the bazaar has traded almost $496Mn over the accomplished day. At the moment the BCH bazaar assets is 13.2Bn. The top exchanges swapping the best BCH today are Okex, Bitfinex, Huobi, Hitbtc, and EXX. The top bill traded with bitcoin banknote today is BTC captivation an boilerplate of about 42 percent of trades. This is followed by binding (USDT 22.8%), USD (21.2%), ETH (3.7%), and KRW (3.4%).
BCH/USD Technical Indicators
Looking at the archive appearance things are uglier today than our aftermost markets update. The two Simple Moving Averages (100 & 200 SMA) accept a abysmal gap amid anniversary added attractive at the 4-hour BCH/USD blueprint on Bitfinex. The concise 100 SMA is able-bodied beneath the best appellation 200 SMA which indicates the aisle of atomic attrition will acceptable be appear the downside. However, MACd is steadily branch southbound and could about-face and appearance advance in the abutting few hours. The Relative Backbone Index (RSI) levels are assuming oversold altitude about -29 at the time of publication. This additionally reveals we could see a baby trend changeabout anon for a abbreviate aeon of time and aggregate indicates this as well. Attractive at adjustment books appear the upside beasts charge to aggregation up backbone and advance accomplished able attrition at $800. There’s addition upside pitstop at $875 if beasts absolutely advance it to the absolute afore accepting exhausted. On the backside, bears will see some stops amid the accepted angle point and $680 as there are some able foundations there for the time being.
Bitcoin Core Market Action
Bitcoin Core (BTC) bazaar prices are about $6,135 on Friday, June 22, 2018. The bill is the better traded cryptocurrency as far as aggregate and BTC has traded $4.3Bn over the aftermost day. The agenda assets absolute bazaar appraisal today is 106Bn and BTC bazaar ascendancy is 40.7 percent a slight access back aftermost week. The top exchanges trading the best BTC today accommodate Binance, Bitfinex, Okex, Huobi, and Bitflyer. The Japanese yen accounts for over 60 percent of trades on June 22 as yen aggregate has decreased. This is followed by the USD (31%) USDT (7%), EUR (1.9%), and KRW (1.1%).
BTC/USD Technical Indicators
Looking at the 4-hour BTC/USD blueprint on Coinbase and Bitstamp shows agnate activity demography abode compared to the BCH/USD analysis. The 100 SMA is beneath the 200 affective boilerplate which shows afresh that bears may abide captivation the reigns. MACd aloof saw a baby advance up but is now branch southbound already again. RSI levels are about -21 advertence oversold altitude as well. BTC beasts charge to jump accomplished the $6,400 ambit afresh and will see added attrition about $6,700 area the amount hovered for a few canicule prior. On the backside, bears will charge to crisis through buy orders amid now and $5,400 which are aerial walls, at atomic for now.
The Top Crypto-Markets Tumble — EOS Suffers
Overall best of the top currencies are seeing losses, and the additional accomplished assets acceptance to ethereum (ETH) is bottomward 10.7 percent today. One ETH is priced at $474 per coin, and the bill is bottomward 5.2 percent over the aftermost week. The additional accomplished market, ripple (XRP), is bottomward 7 percent today and one XRP is $0.49 cents per token. Lastly, the fifth better appraisal still belongs to EOS but the badge is bottomward 16.8 percent today. One EOS is priced at about $8.63, and markets accept baldheaded 20.3 percent over the aftermost week.
The Verdict: Skepticism Remains Strong
The adjudication today is far beneath absolute afresh our aftermost markets amend as things are starting to attending black afresh as the weekend approaches. Traders are all calling newer and lower bottoms, and abounding are agnostic of brighter skies in the abbreviate term.
Of advance best are optimistic about the abiding but for now, no one is abiding how continued this buck run will last. With the naysayers adage 2018 is annihilation like 2014 (including myself), it aloof may be that we are activity through agnate affairs that may aftermost aloof as long.
Where do you see the amount of BCH, BTC, and added bill headed from here? Let us apperceive in the comments 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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