Update of the markets: the cryptocurrencies that fall cancel the gains of the last week

December 3, 2018 Cryptocurrency

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Market updates

Cryptocurrency markets have seen losses in the last 24 hours and our latest market updated five days ago. Since then, most of the major cryptocurrencies have moved sideways in a consolidated and consolidated pattern. At present, the market capitalization of the entire digital asset economy is valued at around $ 125 billion and the markets see about $ 13.4 billion in global trade volume.

Read also: New Software Copernicus has extracted its first Bitcoin Cash Block

The cryptocurrency markets diminish in value once again

It is another day of trading in the digital goods economy, as traders wait patiently for cryptocurrencies to make the next big market move. Prices are lower today after the bulls have tried to get up a couple of times over the weekend. This Monday, December 3, the top 10 digital currency markets have fallen 3-11% in the last 24 hours. Core Bitcoin (BTC) markets are down 6.5% today, but are still up 0.87% over the last seven days.

At the time of publication, a BTC is traded for $ 3,889 and the overall valuation of the currency market is just over $ 67 billion. Ripple (XRP) still commands the second position among the best digital assets and an XRP is trading for $ 0.35. The third largest capitalization, held by ethereum (ETH), is down 7.3% today. Ethereum has an average price of $ 108 per currency and a total market valuation of $ 11.2 billion. Stellar (XLM) managed to take fourth place in bitcoin (BCH) liquidity, but is down 6.7% in the last 24 hours. An XLM is traded for $ 0.15 per currency and the market is still growing by over 2% for the whole week.

Bitcoin Cash market share (BCH)

Bitcoin liquidity markets (BCH) fell by 7.2% in the last day and lost more than 15% this week. A BCH is traded for around $ 155-165 per currency and falls to its lowest value in over a year. At the moment, the BCH markets have a capitalization of about $ 2.8 billion and this Monday's global trade is recording $ 67 million.

The BCH trade volume is significantly lower than usual because it was around $ 120 million five days ago. This put BCH in the fifteenth position, when he once commanded the fifth position in a 24-hour trading volume for weeks. Ethereum dominates the BCH trade this Monday by 63% compared to all bitcoin cash swaps worldwide. This metric is followed by trading pairs such as BTC (24%), USDT (8.9%), JPY (1.7%) and KRW (1%).

Technical indicators BCH / USD

Looking at the BCH / USD charts, the bulls have a lot of work to do to gain some momentum towards the top. Technical indicators still point to the negative side, observing the four-hour interval during this afternoon's trading sessions. The two simple moving averages (SMA) now have a much wider gap, with the long-term SMA 200 well above the short-term 100. This indicates that the path to the least resistance is still going down rather than up and the markets have shown this data being reproduced in real time.

The RSI (Relative Strength Index) oscillator also shows that the BCH markets are still oversold, but it is not as extreme as the RSI levels of two weeks ago. Looking at the order books, the bulls must pass the current observation point and other sales walls of up to $ 225. If the buyers can get the price so high, it seems that after there are easier seas. However, things are seeming bearish and if bears continue to bring down prices, they will be temporarily stopped by buyers between now and $ 130.

The verdict: an elusive search for reference prices

Many traders believed that the last peak was simply a "rebound of a dead cat" and prices have plummeted significantly in the last six hours. The most optimistic individuals continue to believe that cryptocurrency prices will rebound by the end of the year. With the price of the bitcoin core (BTC) under the sign of $ 4K, many digital asset enthusiasts are wondering when the market fund will appear. The founder of Cryptocompare cryptocurrency data web portal, Charles Hayter, thinks that a price indicator will come from the current storm.

"Bitcoin has been related to its hashrate, and with it it is now falling, so is the price," Hayter explained last Tuesday. "The idea is that the hash rate gives an idea of what is underlying the opex and capital that people are willing to use to generate bitcoins and give them a reference price."

Where do you see the price of BCH, BTC and other coins from here? Let us know in the comments below.

Disclaimer: Price items and market updates are for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor is the author responsible for any losses or gains, as the final decision to conduct a trade is taken by the reader. Always remember that only those in possession of private keys have the control of "money".

Images through Shutterstock, Trading View and Satoshi Pulse.

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Update of the markets: the cryptocurrencies that fall cancel the gains of the last week

The cryptocurrency markets diminish in value once again

Bitcoin Cash market share (BCH)

Technical indicators BCH / USD

The verdict: an elusive search for reference prices

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