After severe slump

After severe slump, cryptocurrency market commences recovery

After almost two weeks of a severe slump in the cryptocurrency markets where values dropped to all-time lows for 2018, there appeared to have been a slight recovery on Monday evening and Tuesday morning as a rally in the price of legacy Bitcoin (BTC) also lifted all major cryptocurrencies. The price for the largest cryptocurrency by market cap rose to around $7,350, a rise of 8% over the lows of Sunday where the coin had even touched the $6,400 mark.

Bitcoin Cash also posted a strong recovery rising by as much as 8%, too, for a price of around $690 and it appeared to be well on its way to exceed the $700 mark if the rally persists.

Other larger cryptocurrencies by market cap also saw a substantial increase in their prices, with Ethereum jumping to $395 with the psychologically significant $400 in sight. Analysts are stating that this could mean a substantial rally in the Ethereum price if the $400 level is breached. Ripple was also up to around $0.51 having breached the psychologically significant $0.50c mark, and there were indications that a further spike could be in the offing if volumes persist. Litecoin was also up by around 6% and was trading at around $122 at press time, indicating that there was support at the $122 level. Dash also recovered well over the $300 mark and was trading at $320 at press time, although volumes were quite low.

Recovery was also seen among cryptocurrencies with smaller caps. The chief movers here were Stellar and NEO with double digit increases at one point, although these fell back eventually. Stellar registered an impressive 15% increase at one point to around $0.24, but then fell back to trade at $0.235 at press time. Ethereum Classic was up to almost $15; while NEO also rose 10% to $53 before falling slightly to around $51 at press time. However, volumes seem to be well supported here also. Other up and coming currencies like TRON and VERGE also saw a substantial increase in their price when traded against Bitcoin with the latter registering a double-digit increase, whilst the former clawed back some of the past day’s losses.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/severe-slump-cryptocurrency-market-commences-recovery/

Cryptocurrency slump continues as BTC reaches new low

Cryptocurrency slump continues as BTC reaches new low

There seems to be no end to the bear market in the cryptocurrency space as values of the top coins continued declining, with legacy Bitcoin (BTC) reaching a new low of $6,400 on Sunday before rebounding slightly to $7000 on Monday morning, although low volumes appear to be keeping back a recovery. However, there does not appear to be any respite for the long term investor since all cryptocurrencies suffered considerable losses over the past few days with several of the top 10 coins by market cap declining 20% or more.

Bitcoin Cash saw its value drop to a low $620 at one point, although it was up on Monday to around $650. This represents a fall of around 80% from its all-time high of $4,000 registered in December, and there does not appear to be any indication of a rally forward. It is interesting to note that while BTC is down around 60% from its all-time high, most of the other currencies have fallen even further, some by as much as 80%. Another huge loser over the past few days was Dash, which declined from around $450 to well below the $300 mark—a drop of well over 40%.

From the other currencies with larger market caps, Ripple and Litecoin also declined considerably with the former dropping to around $0.47 and the latter creeping dangerously lower to the $110 mark. It could be possible that the 2018 yearly low of below $100 would be tested in the next few days. Another currency which suffered considerably although its market cap is smaller was Neo, whose value dropped to a historic low of $46—a full 300% down from its level of $140 a few weeks ago.

Other currencies also suffered steep drops over the past few days. Stellar Lumens was down to around $0.18 over the weekend before recovering to regain the psychologically sensitive $0.21 mark, appearing poised to increase exponentially over the next few days if there is a rally. Ethereum also saw a major decline in value from around $550 mid-week to well below the $400 mark and was trading at $380 at press time. Its sister currency, Ethereum Classic, was also down to an intra year low of $13.50 before rebounding slightly to approach the $14 mark. Other smaller cryptocurrencies, which trade mostly against BTC on exchanges such as Binance, saw falls, too: Tron dropped by about 30% over the past two days after a spike last week, whilst Storm was also down considerably. The only gainer over the weekend was XVG which saw its value appreciate by almost 20% against BTC.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/cryptocurrency-slump-continues-btc-reaches-new-low/

Cryptocurrency market commences recovery; BTC back at $8

Cryptocurrency market commences recovery; BTC back at $8,500 level

The cryptocurrency market managed a slight recovery on Monday followed by the considerable boost seen on Sunday evening, when around $30 billion was added to the total market cap in the past 24 hours. Legacy Bitcoin (BTC) continued its bounce from a low of $7,300 and was trading at around $8,500 at press time, indicating a bullish possibility to touch the $9,000 mark and complete the recovery.

Bitcoin Cash also completed an impressive interim recovery where it soared to around the $970 mark after having touched the $850 mark at one point on Sunday. The cryptocurrency, which is now rapidly gaining traction, may even reach the psychologically significant $1,000 level in the next few hours if the bull run continues. In fact T/A analysts are all predicting a considerable bull run for BCH as well as BTC in the next few hours.

Of the currencies with larger market cap, Ripple appeared to be well supported at the $0.67 level although it still has a long way to go before it starts to test the $1 level again. Although there has been a consistent strain of good news regarding XRP and X-Rapid—which is the technology that underpins the coin—the rallies in this currency have been few and far in between following the large declines of recent weeks. However, T/A analysts are again confident that this will start rising again shortly.

Litecoin and Dash also recovered substantially from their intra week lows and were trading at $160 and $410 respectively, with the latter posting an impressive 8% rise during the day. However, the currency which once again outperformed the rest was Ethereum Classic (ETC) which saw a 15% rise to back on the 20% rise on Sunday meaning that it was up by an impressive 40% overall from its intra week low. At press time, ETC was still climbing and was looking to test the $19 mark with a possible push towards the psychologically significant $20.

On the other hand, the other larger currency by market cap, which is Ethereum, saw a push towards the important $550 mark only to fall back during the day to settle at around $530. Of the currencies with smaller market cap, it seems that both Stellar and NEO could have started a recovery with the former up by 8% on Monday and a further 5% at press time to breach the $0.24 mark, while NEO was also up by an average of 8% to touch the $70 mark and at press time was also rising.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Poised for rebound? Cryptocurrencies show slight increase

Poised for rebound? Cryptocurrencies show slight increase

After a few days of doldrums with the cryptocurrency market cap slumping to below the $350 billion mark, it could be that the digital coin market is on the road to a revival with legacy Bitcoin (BTC) demonstrating a slight increase that took it well below the $9,000 mark after having dropped to below $8,500 at one point on Friday. Indeed all the bad rumours regarding regulation in China and the United States, scam attacks on exchanges as well as rumours of insider trading have had a significant effect on prices in the past week with some currencies slumping to prices not seen in February.

One of the currencies which recovered extremely well from its slump was Bitcoin Cash which again pushed strongly above the $1,100 mark at one point before retracing slightly. In fact, the rise of 15% on Sunday afternoon indicated that the currency is well poised to reach further highs over the week if selling volume is achieved. Another currency which performed very well was Dash as it saw a rise of well over 12% at one point although it again had a slight retracement. Ripple was disappointing since it had slumped to well below the $0.80 mark, but is now just over the $0.81 level which means that it is still struggling to gain any sort of traction to propel itself above the $1 mark.

Performance in the Top 10 cryptocurrencies by market cap was mixed overall but all registered substantial gains over the weekend after the Friday and Saturday slump. Ethereum seems to have recovered from its low of well below the $700 mark and is now trading at around $730 at press time, with a further push to over the $750 mark not out of the ordinary if a momentum is to be sustained. Its sister currency, Ethereum Classic, suffered a huge drop over the past week where it declined by well over 30%, and at one point it had even dropped below the psychologically sensitive $20 mark. However, it appears to be on the rise once again with a 6-7% increase over the past few hours at press time.

Of the smaller cryptocurrencies by market cap, Stellar again managed to regain the $0.30 mark although there does not seem to be the volumes to sustain further price increases in the short term. NEO also suffered badly in the past week with its value dropping to well below the $0.90 mark but it is now trading at that level with a possible further increase to the $100 mark. However, this currency has also lost well over 30% of its value over the past two weeks with the ominous threats of Chinese regulation hanging over the currency.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Cryptocurrency market trades sideways

Cryptocurrency market trades sideways, BTC maintains $10,500 level

The cryptocurrency market continued trading sideways on Tuesday with most of the currencies registering minimal decreases and any gains made were swiftly eroded throughout the day. Legacy Bitcoin (BTC) continued building on the levels it had reached on Monday however with a push for $11,000 also occurring throughout the day, but eventually settled at the $10,600-$10,700 mark. Bitcoin Cash registered a tepid day with minimal movement and was trading between the $1,200-$1,250 mark before settling at around $1,230.

Ethereum saw a relatively quiet trading day with levels of around $880 reached although the currency fell back to the $860 mark and remained there throughout the day. It’s sister currency, Ethereum Classic, also registered a slight decrease and was trading at the $35 mark before dropping back by 5% to trade at $33. It seems that the anticipated Callisto fork, which is due in early March, has had a positive effect on the currency which is the only one to have risen to pre-crash levels.

Ripple and Dash had another disappointing day with both trading sideways and any increase registered was wiped out due to low turnover and poor volumes. XRP is still struggling at the $0.93-$0.95 mark and does not seem to have the strength to go beyond the $1 mark. The latter dropped below the $600 mark and did not appear to be well supported at that level either so further declines could be expected in the not too distant future.

After the botched launch of Litepay on Monday, Litecoin had another rather uneventful day but still lost in value when it traded at around $214, a decrease of around 2%.

Of the currencies with smaller market caps, little could be said apart from Neo which continued registering a good increase to trade at just above $140. However during the day and on Wednesday morning, the Chinese-backed cryptocurrency dropped slightly seeing a decrease of around 5% to trade at around $136. Stellar had another disappointing day when it traded at just over the $0.36 mark.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Slow recovery in crypto markets continues

Slow recovery in crypto markets continues

As was to be expected, the weekend brought mixed results for the cryptocurrency markets with many trading sideways although there was a general improvement all around barring one or two exceptions.

Legacy Bitcoin (BTC) exceeded the $11,000 mark on Saturday but then fell back to the mid $10,500’s during Sunday and continued flirting with that level with very minor movements all round. However, it appears that a push towards the $11,000 mark is again on in the next few hours and according to analysts, this could mean that the $12,000 mark is definitely not far off.

Another huge gainer over the past few hours was Ethereum Classic which continued rising exponentially and was trading at well over $36 on Monday morning. Although Ethereum was also rising after having dipped slightly over the weekend, it seems to be struggling to reach the $1,000 mark and has been mired between $900 and $950 for several days with no real sign of a breakout appearing anytime soon.

Bitcoin Cash has also been showing signs of life recently and once again traded at above the $1,500 mark for a long period over Saturday but then retraced slightly to the $1,450 mark over the course of Sunday. In fact, Sunday was quite a stagnant day for most cryptocurrencies as most continued to languish below their Saturday highs. One of the casualties in this respect was Ripple, which continues to mystify the market as it is still trading in a very small range which is basically between the $1.07 and $1.10 mark demonstrating that it has little appetite to rise beyond the $1.22 mark—last  reached two weeks ago.

Other cryptocurrencies’ performances were also rather mixed with Litecoin hanging around the $220 mark although it is seemingly ready for another push beyond the $250 mark soon. Dash is continually moving around the $670-730 direction—a very far cry from its all-time high of $1,500 which it does not look like it will be able to achieve anytime soon. Other alt coins such as Stellar and NEO seem stuck in their respective price ranges, with the former now close to the $0.50 mark and the latter moving around the $130 mark. Cryptocurrency exchange Etoro is about to add NEO in the next few hours so that could see a corresponding rise in price.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Bitcoin Cash recording steady gains—rising consistently and flirting with $1

Bitcoin Cash recording steady gains—rising consistently and flirting with $1,400 mark

The impressive recovery in the cryptocurrency market continued apace on Wednesday and the early hours of Thursday as most major coins were all heavily in the green.

The currency that was looking extremely positive and bullish was Bitcoin Cash which rose considerably on Wednesday by about 11% and was flirting with the $1,400 level—this is almost a 100% climb from its low of $800 reached only a few days ago. The cryptocurrency, which is considered as the true remaining Bitcoin as intended by the 2009 Satoshi Nakamoto white paper, has improved massively in recent days being the first coin to show some signs of a recovery after the early February bloodbath in which most currencies lost at least 40% of their value and others dropped by around 60%.

Another gainer was Litecoin, which went up by over 30% on Wednesday, peaking at around $210. The coin founded by Charlie Lee continued its climb on Thursday morning where it was up by around another 12% to reach the $230 mark and was still climbing at press time.

Stellar Lumens also posted strong gains and is now flirting with the $0.50 mark, a 30% climb over two days. The other top 10 cryptocurrencies such as Dash and Ethereum Classic also continued moving forward with the former now also flirting with the $700 mark, although it is a far cry from the $1,500 mark registered in mid-December when crypto currencies were at an all-time high. The latter somewhat stalled in progress over the past 24 hours but it is still on the cusp of its impressive rally where it gained almost 40% in three days.

Legacy Bitcoin, or SegWit1x (BTC), and Ethereum also recorded steady gains over the past 24 hours. Bitcoin broke through the $9,000 barrier and is now trading at over $9,800 which is close to the five figure mark—a level that has not been seen since mid-January before the inexorable climb to the bottom began. Ethereum was at around $930 at press time, indicating that it was ready to start another climb upward to the sensitive $1,000 mark.

The market is showing some bullish signs of recovery and the combined cryptocurrency market cap is now close to the $500 billion mark which is almost double the low of $275 billion reached only last week.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Dark web users dissatisfied with BTC

Dark web users dissatisfied with BTC, looks to other cryptocurrencies

A recent study by threat intelligence company Recorded Future suggested that the sluggish performance and mounting costs of legacy Bitcoin, or SegWit1x (BTC), transactions have pushed even criminals lurking in the dark web to abandon the cryptocurrency in favor of other cryptocurrencies like Dash, Litecoin, and Monero.

An analysis of 150 of the most prominent Darknet message boards, marketplaces and illegal service platforms revealed a shift from mostly BTC transactions to a more diversified environment. The second oldest cryptocurrency next to BTC was Litecoin, which was established in 2011 as a “light” version of BTC. According to the study, it currently accounted for 30% of all Darknet market transactions. This was closely followed by Dash, first released in early 2014 under the name “XCoin” and later renamed “Darkcoin” only to be rebranded to its current name which is a portmanteau of “digital cash.”

At the third spot in terms of usage was Bitcoin Cash, a cryptocurrency that continued the original vision of the Satoshi Nakamoto white paper. It accounted for 13% of all Darknet transactions, according to the study. However, it’s interesting to note that the study only mentioned Bitcoin Cash once, noting that the revelation on the cryptocurrency’s share in trades came “unexpectedly” given Bitcoin Cash’s dominance in more legitimate platforms—a stark contrast to the transactions that circulate under the radar at Darknet marketplaces.

While the study suggested that Litecoin would become the “next dominant dark web currency,” it’s quite obvious why Bitcoin Cash would never lead in the dark web: Bitcoin Cash offers some of the best features for legitimate businesses and independent merchants.

In terms of network design, Litecoin has mostly piggybacked from the established infrastructures of BTC, while Dash was forked from Litecoin’s v0.8.6.2, adding protocols from BTC’s v0.9.3 before fully switching to its codebase in early 2015. As a DAO (decentralized autonomous organization), Dash maintains a Core development team similar to the BTC’s Bitcoin Core. The difference, however, was that Dash has an independent, self-funding, self-governing model, unlike the Bitcoin Core’s subsumption to Blockstream Inc.

The study further suggested that “the cryptocurrency diversification trend will only intensify, and [BTC] will lose its place as a dominant payment method in the dark web in the next six to 12 months” eventually being displaced by Litecoin and Dash, or Monero, which was more dominant in English-speaking countries whose criminal populace tend to be more security-oriented. Monero has also been found to be the preferred cryptocurrency of hackers who leverage anonymity for their campaigns.

These findings on how criminals lurking in the shadows of the Darknet use cryptocurrencies indicated the possibility that Bitcoin Cash may be abused by negative elements, although Recorded Future’s statistics showed that while some tech-savvy criminals prefer Bitcoin Cash for its low-cost and faster-than-lightning features, majority of users from the dark web hesitate or altogether avoid it because its integrity on a public blockchain may lead to their lawful apprehension. Nevertheless, in light of recent cybercriminal activity, the Bitcoin Cash community would be well advised to refuse involvement with illegal and fraudulent entities and networks.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Cryptocurrencies continue to recover as Bitcoin Cash builds on 25% growth

Cryptocurrencies continue to recover as Bitcoin Cash builds on 25% growth

The cryptocurrency market continued its slow recovery on Wednesday with several coins moving ahead. Bitcoin Cash appears to be stabilizing at around the $1,300 mark before what appears to be a big push upwards as more volume comes into the market. It looks like the cryptocurrency is building on its 25% increase last week as the market recovered from one of its steepest drops ever.

Other cryptocurrencies are also making a slow recovery: Litecoin continued to rise touching the $230 mark after weeks of being in the doldrums, while legacy Bitcoin, or SegWit1x (BTC) passed the $9,000 mark at press time although it does not seem to have the momentum required to sustain its rally.

The main mover behind the rally of the currencies was Ethereum Classic which saw an inexorable rise of around 30% over two days with result that it is now trading at around $35—almost the figures it was trading at before the January crash. This steep rise in price is probably linked to the announcement that there will be a fork on March 1 where bonus coins are to be given for each ETC coin owned. There has been considerable controversy over this announcement with owners being kept in the dark on what this entails but the news has had an effect on the price with the consequence that it has shot up.

One currency that has lagged behind this recent recovery is Ripple which is still flirting with the $1 mark although in the past hours, it has seen a rise of around 9% and is now trading at around the $1.15 mark at press time. There were several recent positive announcements over the past days concerning Ripple as more and more banks and companies adopt the currency for their payment methods however this has failed to move the price upwards—at least for now.

Other currencies appear to be stable in their values, such as Dash, which has stabilized around the $600 level although the last few hours have seen slight rises in its price with hopes of a rally coming shortly. There are still several investors who have bought at the top of the market when prices were at crazy highs and these are still holding on to these positions in the hope that they will eventually increase exponentially.

Another currency which is now roaring ahead after a considerable drop during the crash is Stellar Lumens (XLM) which has seen its price rise by around 15% over the past few hours as it enters what seems to be a considerable bull run. XLM had reached a high of around $0.96 but fell back to $0.20 during the crash. It has now recovered to around $0.45—a rise of at least 15% from its price on Tuesday. The cryptocurrency was also launched on the popular Etoro exchange that could have also seen a corresponding rise in its price.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.