DIGITAL Market Update: "Bear Market" adds uncertainty in the cryptocurrency trade
The cryptocurrency markets have had a difficult week in recent days. Currently, markets are consolidating and have remained stable in the last 24 hours. At this time, the values of Bitcoin Core (BTC) are around $ 7,470-7,560 during the last hours. Meanwhile, Bitcoin Cash (BCH) prices are consistently held just above the region of $ 1K to $ 1,038 by BCH at the time of publication.
) A crazy and volatile week in Crypto-Land filled with a lot of FUD
It has been another crazy week in the world of cryptocurrency. The commercial volume has been reduced to almost all markets: $ 13,000 million in operations. Many enthusiasts of cryptocurrencies witnessed that the US Department of Justice. UU (DoJ) started the investigation this week with the aim of manipulating the values of the Bitcoin market. Interestingly, those who look at markets are just before conventional media.
Bitcoin Money Market Action
The Bitcoin cash markets have been seen in recent years. Today's trading sessions show that BCH prices oscillate around $ 1,038, since in the last 24 hours a drop of around 1 percent has been seen. In the last seven days, BCH markets fell 13 percent, with the current commercial volume hovering around $ 538mn. The main exchanges that operate with the largest amount of BCH on May 26 are Okex, Hitbtc, Lbank, EXX and Huobi. The main currency exchanged with BCH is today 44.8 percent of operations. This is followed by tether (USDT 29.9%), USD (15.5%), KRW (7%) and ETH (1%).
</ center>) BCH / USD technical indicators
Looking at the 4 hour and 1 day charts for Bitfinex (BCH / USD) At this time the RSI levels are around 39, showing the oversold conditions, and the MACd shows a convergence around -5 which reveals that momentum can recover today. However, the two trends of simple moving averages (SMA) are still distributed with 100 SMA below 200 SMA. This indicates a bearish outlook since the road to resistance is seen to be downward.
The bulls have been used for a long time. $ 1,070 for softer seas. The next stop will be around $ 1,125 since the BCH bulls will need to break this zone. If the bears continue to relentlessly hit the crypto-toms, there are some solid foundations on the back of the BCH order books. Going down we will see the pit stops at 950 and 900 per year. Beyond that, the books become much thinner.
The best performances of the cryptocurrency market this weekend
In general, most of the cryptocurrency markets have only improved slightly today and consolidated behavior. The Bitcoin Core (BTC) markets rose 0.61 percent for the intraday market, up 8.8 percent. The current weighted average price of BTC is also $ 7,560. The second largest market capitalization in the hands of Ethereum (ETH) has risen today to 0.42 percent and the price is around $ 605 for ETH. The Ripple markets (XRP) rose 1 percent, since XRP has a current price of $ 0.62 cents. Finally, the EOS continues to occupy the fifth place, and has currently improved up to 2 percent gain. EOS has an average of $ 12.65 per token at the time of publication.
The verdict: the uncertainty remains
This week's verdict is similar to where we are going to be, but it seems to be uncertain where the 'Good Ship Crypto' will take them. 2017 was a wild goal. 2018 has been nothing more than FUD, regulations and bear market sentiment. Even exciting developments and positive developments have not been possible to reach the markets beyond the $ 10K region for weeks. Social networks, forums and large commercial groups on the sentiment of Telegram remain uncertain during the course of the mandate.
