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Bitcoin price CRASH — Cryptocurrency price falls to almost $8,000 after turbulent 24 hours

Bitcoin price CRASH - Cryptocurrency price falls to almost $8,000 after turbulent 24 hours

Bitcoin price CRASH — Cryptocurrency price falls to almost $8,000 after turbulent 24 hours

BITCOIN has dramatically crashed to almost $8,000 in a major drop as it loses almost three per cent of its value in 24 hours, after a shocking 6 per cent decrease the day before.

After falling below $9,000 less than a week ago, Bitcoin is now trading at $8,288.

Despite the fall, Bitcoin has actually made three per cent gains over the last 30 days.

Price trends aren’t looking good for other online currencies either.

Crypto markets have struggled in the last 24 hours.

Almost all of the top 100 listed currencies are currently experiencing drops in value.

Etheream has dropped below $700, making a fall of more than two per cent in 24 hours.

The entire crypto market has lot almost $100 billion over the last ten days.

Despite the falling markets, BitMex CEO, Arthur Hayes, predicted that Bitcoin will be at “$50,000 by the end of the year”.

The former Citigroup trader told CNBC: “It’s my job to make predictions — whether or not they are right or wrong — it doesn’t really matter to me”.

He continued: “I’m a volatility trader at the end of the day.

“We make our money if its volatile.

“If it goes up, if it goes down, if you have Bill Gates calling it a fraud, great. Short it. I don’t care.

Or if you think it is going to be a million dollars in a few months, great, buy it.

“We just match trades.”

Cryptocurrencies such as Bitcoin are highly volatile and are subject to sudden extreme price changes.

 

Author CAITLIN DOHERTY UPDATED: 04:55, Thu, May 17, 2018

 

Published by David Ogden Entrepreneur

Alan Zibluk Markethive Founding Member

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Crypto Watch -Price Drops for Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin

Crypto Watch -Price Drops for Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin

Crypto Watch -Price Drops for Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin
 

Following a rough and tumble week where most major cryptocurrencies and altcoins were trapped in the red, brief signs of recovery on Monday have reversed as Bitcoin, Ethereum, and Ripple continue to drop in price. Recent activity on the United States’ east coast also shows that hype surrounding digital currency and blockchain technology hasn’t died down, despite price dips and market volatility.

Bitcoin (BTC)

The father of cryptocurrencies is swiftly rising through the ranks and sits at $8,200 at press time. In just the last four days, the currency has spiked tremendously following a huge Thursday drop to $8,250 — the lowest it’s been since early April — from last weekend’s trading high of $9,800.

Bitcoin is down 5.77% over the past 24 hours.

One of the reasons for Monday’s spike may be the Coindesk Consensus Conference, which is a three-day event that began in New York on the morning of Monday, May 14. The event’s organizers expect to see over 8,500 visitors and are selling tickets for over $2,000 each. Overall, organizers are expecting revenue of roughly $17 million this year from ticket sales alone.
 

“It’s a bit chaotic here,” said Ronnie Moas, Conference attendee and head of the independent market research firm Standpoint Research. “I think they sold too many tickets.”

Reports have emerged that the line for entry saw attendees occupying both the lobby and second floor of the hotel where the Conference was taking place.

 

“I’ve never seen anything like this for registration,” says Jeff Denton, senior director of global secure supply chain at AmerisourceBergen in Philadelphia. Denton says he waited for over an hour to gain entry to the event. “It’s expensive, but it’s the largest conference in the U.S., so hopefully that brings the value for the cost.”

 

Ethereum (ETH)

Since our last price piece, ETH has experienced a price dip and is now trading for $686.90 — about the same from where it previously stood.

Ethereum is down 5.77% over the past 24 hours.

The Ethereum Ethereal Summit took place on May 11 and 12 as part of the state’s ongoing “Blockchain Week.” The two-day event saw several speakers, business owners and blockchain experts joining together to offer attendees information regarding the powers behind the blockchain and how it can assist in the decentralization of modern society.
 

The high attendance marks for both the Consensus and Ethereum events suggest that investor interest in cryptocurrency remains high despite ongoing volatility.
 

Ripple (XRP)

At press time, XRP is trading for 67 cents. This is about two cents lower than where the currency sat during our last price discussion.

Ripple is down 8.46% over the past 24 hours.

For the most part, big things appear to be happening for Ripple. The company recently announced its new “Xpring” initiative, in which executives are targeting entrepreneurs and startup ventures to build partnerships and expand the XRP ecosystem.
 

According to TechCrunch, the project will be a mixture of “investments, grants and incubation to lure companies and expand the use of XRP whilst allowing Ripple to focus on its financial services business.”
 

Bitcoin Cash (BCH)

Bitcoin Cash has witnessed a solid drop in its price since our last article. Previously trading at just over $1,400, the currency is now trading for about $1,253.86.

700

Bitcoin Cash is down 11.78% over the past 24 hours.

On Monday, the Winklevoss Twins announced they were adding Bitcoin Cash to their New York-based cryptocurrency platform Gemini Exchange.

 

While trading details (i.e. when the currency will be officially added) have not yet been released, the company has also stated that it will enable Zcash deposits beginning on May 19, making Gemini the first official Zcash trading platform in the U.S.
 

Litecoin (LTC)

Litecoin is trading for about $136. This marks a four-dollar decrease since our previous price piece.

Litecoin is down 6.51% over the past 24 hours

Litecoin will be joining Bitcoin Cash on the Gemini Exchange, and while details are scarce for now, the news may have instigated the currency’s

 

temporary rise beyond the $145 mark. CryptoSlate will bring you more on this story as it develops.

Market Summary

The total cryptocurrency market cap sits at $374 billion, roughly $12 billion lower than where it stood during our previous article.
 

While the market is showing signs of recovery, investors are warned that the volatility of the industry remains serious and that cryptocurrency figures are never “set in stone.” Thus, they should always remain cautious during trades, and only invest what they can afford to part with.
 

Author Nick Marinoff

Posted by David Ogden Entrepreneur

 

Alan Zibluk Markethive Founding Member

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Bitcoin Price Watch — How Low Can BTC Go?

Bitcoin Price Watch - How Low Can BTC Go

Bitcoin Price Watch — How Low Can BTC Go?

Bitcoin Price Key Highlights
 

  • Bitcoin price has bounced off the area of interest previously highlighted to signal that the selloff would resume.

  • Applying the Fibonacci extension tool shows how low bitcoin could go from here.

  • Technical indicators are showing mixed signals, with the oscillators reflecting more bearish pressure.

  • Bitcoin price is bouncing off the downtrend line and looks ready to resume the drop to new lows.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside or that the selloff is more likely to continue than to reverse. The 200 SMA also lines up with the downtrend line to add to its strength as a ceiling.

However, the gap between the moving averages is narrowing to signal a potential upward crossover or return in bullish momentum. The 100 SMA might also be able to hold as dynamic support. If so, a move past the trend line, swing high and $9000 mark could confirm that an uptrend is taking place.

RSI is turning lower to show that sellers have the upper hand. Stochastic has also made its way out of the overbought zone and is heading south, so bitcoin price might follow suit. The 38.2% extension is at the $8400 area and the 50% level is close to the swing low. Stronger selling momentum could take bitcoin price to the 78.6% extension at $7913 or the full extension at $7650.

BTC/USD 1-hour Chart from TradingView
 

Market Factors

Bitcoin price seems to be off to another shaky start for the week as another failed attempt at breaking past $9,000 has drawn more selling pressure and spooked some bulls. However, positive updates in the industry are still popping up and could ultimately allow the climb to resume.

At the moment, what’s keeping investors on edge is the possibility that Mt. Gox will short another set of bitcoin to pay off its creditors. An estimated 8,000 coins are still up for selling, so this could have a huge weight on price.

 

Source: https://www.newsbtc.com/2018/05/15/bitcoin-price-watch-low-can-btc-go/
 

Posted by Daving Ogden Entrepreneur

Alan Zibluk Markethive Founding Member

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Bitcoin price analysis: BTC/USD goes below $8,400 again, will Consensus bring relief?

Bitcoin price analysis: BTC/USD goes below $8,400 again, will Consensus bring relief?
 

  • BTC reversed weekend gains, lost 4.5% since the beginning of the day.

  • Fundstrat experts expect that Consensus conference will reverse the trend.

Bitcoin is back below $8,400 again. A recovery attempted on weekend, failed to get the digital currency No.1 above $9,000 threshold. BTC/USD is trading at $8,346 at the time of writing, off the Asian high of $8,712. The coin has lost 4.5% since the start of the day and reversed all Sunday and Saturday gains.
 

Meanwhile, crypto enthusiasts are flocking to New York for one of the largest crypto event of the year — CoinDesk's Consensus conference. Fundstrat's managing director and technical strategist Robert Sluymer expect that the event will serve as a good bullish trigger for Bitcoin and other coins, dispelling pessimism about regulatory risks.

"The regulatory risk, the fundamental risk around what's happening with cryptos has hit a bottom and now we're in a state of general recovery," he said on CNBC's "Fast Money" Thursday.

He explained that Bitcoin increased each year after Consensus, though it remains to be seen if the market follows the tradition this year.
 

Bitcoin's technical picture

On the longer-term scale, Bitcoin is jammed between 100-DMA and 50-DMA ($8,826 and $8,263 respectively). A sustainable break in either direction will trigger a strong movement with the next upside target seen at psychological $9,000 and support at $8,000. Both levels are critical for Bitcoin, as move below $8,000 will signal that a recovery from April's low at $6,400 is over.

BTC/USD, the daily chart

 

Author  Tanya Abrosimova FXStreet

 

Posted by David Ogden Entrepreneur

Alan Zibluk Markethive Founding Member

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Bitcoin runs into selling pressure for the week

Bitcoin runs into selling pressure for the week

Bitcoin tried to reach above the resistance barrier, but of course has failed again. It looks as if the crypto currency markets are going to struggle, and we are starting to get very negative technical signals in this market. I think that the next move seems to be lower.

BTC/USD

Bitcoin fell against the US dollar during the week, slicing through the $9000 level, an area that I thought was a bit of a barrier or “zone” that extended down to the $8800 level. Now that we are below there, I think the market unwinds, with an initial target of $8000, perhaps followed by $6000. When you look at the chart, you can see that the highs in this market continue to go lower, and I think that $10,000 has just proven itself to be an even more significant barrier than originally thought. Because of this, it’s obvious that we will continue to struggle in that general vicinity.

BTC/JPY

Bitcoin has also fallen against the Japanese yen, well below the ¥1 million level. I think that the market is going to test the ¥900,000 level, and then possibly even as low as the ¥700,000 level as it is the bottom of the overall consolidation. Whether we break down below there, I don’t know yet, but I do know that it certainly makes a nice target. I believe that the markets continue to punish Bitcoin, with the ¥700,000 level being massive support. If we were to break down below that level, things could get ugly, especially if we break through the “zone” that extends down to the 600,000 level. In fact, if we break down below there I think we are looking at a multi-year bear market. The alternate scenario is that we turn around and break above the ¥1.1 million level, but that doesn’t look likely right now.


 

Author Christopher Lewis

 

Posted by David Ogden Entrepreneur

Alan Zibluk Markethive Founding Member

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Bitcoin set to be SURPASSED in the crypto realm? Expert predicts SHOCKING future for BTC

Bitcoin set to be SURPASSED in the crypto realm? Expert predicts SHOCKING future for BTC

BITCOIN will be surpassed in the cryptocurrency realm by the end of 2018 according to an expert that predicted a shocking future for the virtual money during a period of BTC market gains.

Roger Ver, made the unprecedented announcement that he believes other cryptocurrencies will exceed Bitcoin in value.

He stated: “I see it happening, and I believe it’s imminent.”

Mr Ver declared Ethereum possesses the technological capabilities to overtake Bitcoin by the end of 2018 while Bitcoin Cash could surpass its crypto brother “before 2020”.

He told the Independent: “Ethereum could overtake Bitcoin by the end of the year and Bitcoin Cash could do the same before 2020.”

Mr Ver claimed Bitcoin Cash could “double” in value by next week thanks to a slew of funding from “big investors”.

He went on: “It’s not guaranteed but it is much more likely to happen than not.

“Bitcoin Cash has more than doubled in value in the last month and big investors coming in soon could see it double again by next week.

“People love to chase a rising star.”

However Michael Jackson, from venture capital firm Mangrove Capital Partners, emphasised Bitcoin is able to adapt thanks to people who are working to solve its “scalability problems”.

He stated: “There is so much talent in the crypto space, and people are working on solving these scalability problems.

“I don’t see why Bitcoin shouldn’t remain in the number one spot.

“It is still by far the best known and it is ultimately the reserve currency in the space.”

Bitcoin is trading at $8,295.85 at the time of writing while Ethereum is selling for $730.86.

Both cryptocurrencies have seen incredible spikes in value over the course of the last month.

Bitcoin has added a whopping $2,091.97 to its value in the last month.

This marks a sharp value increase of 30.61 per cent.

Meanwhile, Ethereum has seen a sharp 75.85 per cent increase in price in the last month, marking a rise of $315.25.
 

However, the persistent peaks and troughs of cryptocurrencies demonstrate the market’s monstrous volatility.

Author JOSEPH CAREY UPDATED: 05:23, Fri, May 11, 2018

 

Posted by David Ogden Entrepreneur

Bitcoin set to be SURPASSED in the crypto realm Expert predicts SHOCKING future for BTC

Alan Zibluk Markethive Founding Member

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Bitcoin Wallet App Caught Stealing Seed Keys

Bitcoin Wallet App Caught Stealing Seed Keys

Bitcoin Wallet App Caught Stealing Seed Keys

The team behind Electrum, a Bitcoin wallet app, has exposed a copycat product named Electrum Pro as a malicious app that steals users' seed keys.

Electrum developers made their accusations in a document published on GitHub yesterday.

The document contains a step-by-step guide to decompiling a rival product named Electrum Pro that popped up online two months ago in March.

 

Obvious copycat is obviously malicious

The Electrum team has long suspected this is a scam product. The reasons are that the newly launched wallet app used their brand name without permission, but also registered the electrum.com domain, similar to the real Electrum domain of electrum.org, in an attempt to capitalize on the older app's reputation and trick users into using their product.

Now, Electrum devs seem to have confirmed their initial suspicions. On GitHub, the Electrum team points to a particular piece of code (lines 223-248 in electrumpro_keystore.py) where the Electrum Pro wallet appears to take the user's wallet seed key and upload it to the electrum.com domain.

Wallet seed keys are cryptographic keys that allow the owners of a wallet app to access the funds of multiple Bitcoin addresses stored in a particular wallet.

With the seed keys uploaded to electrum.com, the owners of those domains have the ability to use these seed keys and empty Bitcoin accounts

According to Electrum devs, creating or restoring a wallet with Electrum Pro will send copies of the users' wallet seed keys to the electrum.com domain.

Seed key theft seen in Windows and macOS binaries

"We previously warned users against 'Electrum Pro', but we did not have formal evidence at that time," Electrum devs said.

Devs also said they've only analyzed Electrum Pro's "electrumpro-4.0.2.dmg" macOS binary and "ElectrumPro-4.0.2-Standalone.zip" Windows binary, but warned that "is safe to assume that the other Windows binaries are malicious as well."

Affected users should move funds from Bitcoin addresses they've managed via Electrum Pro. At the time of writing, there have not been any reports of stolen funds.

 

Author By Catalin Cimpanu May 10, 2018 12:30 AM
 

Posted by David Ogden Entrepreneur

Alan Zibluk Markethive Founding Member

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Bitcoin price analysis -BTC/USD gets badly beaten, poking at $9,000 — Gary Cohn believes in crypto, but not in Bitcoin

Bitcoin price analysis -BTC/USD gets badly beaten, poking at $9,000 — Gary Cohn believes in crypto, but not in Bitcoin

 

  • BTC/USD broke below local support levels with no obvious triggers.

  • former president of Goldman Sachs Gary Cohn supports the idea of global cryptocurrency.

     

Bitcoin lost over 8% in just three days, crashing from $10,000 to below $9,000. BTC/USD is trading at $9,017, after a short dip to $8,960. The coin is 3% lower than 24 hours before. BTC has moved into a dangerous support zone as a sustainable movement below $9,000 threshold will trigger selling orders and push the coin deeper into the bearish territory. The downside may be partially explained by US Dollar growth on international markets.

 

Meanwhile, former president of Goldman Sachs Gary Cohn said that the world will have a cryptocurrency after all, but it won't be Bitcoin. He believes that we will end up with something easier and more user-friendly.

 

"I'm not a big believer in bitcoin. I am a believer in blockchain technology," Cohn explained in the interview with CNBC. "I do think we will have a global cryptocurrency at some point where the world understands it and it's not based on mining costs or cost of electricity or things like that," he added.

 

Bitcoin technical picture

 

The hourly chart shows that BTC/USD is trading below both 200 and 50-SMAs that are located at $9,276 and $9,383 respectively. They are likely to limit the upside on approach to $9,400. Once it is broken, the upside may be extended towards $9,584 (100-SMA). On the downside the vital support comes at $9,000. This psychological level coincides with 50% Fibo retracement of the downside movement from $1,1567 to $6,483. Once it is broken, $8,700 will come into focus.

 

BTC/USD, the hourly chart

 

Author Tanya Abrosimova

Posted by David Ogden entrepreneur

 

Alan Zibluk Markethive Founding Member

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Bitcoin Cash Price Technical Analysis – Can BCH/USD Break This?

Bitcoin Cash Price Technical Analysis – Can BCH USD Break This?

Bitcoin Cash Price Technical Analysis — Can BCH/USD Break This?

 

Key Points

Bitcoin cash price found support around the $1,565 level and recovered against the US Dollar.

There is a key connecting bearish trend line forming with resistance at $1,700 on the hourly chart of the BCH/USD pair (data feed from Kraken).

The pair has to move above the $1,700 resistance level to continue the current upside wave.

Bitcoin cash price is recovering from lows against the US Dollar. BCH/USD is now facing a major hurdle for more gains near the $1,700 level.

 

Bitcoin Cash Price Resistance

Yesterday, we saw a downside correction in bitcoin cash price below the $1,650 support against the US Dollar. The price even traded below the $1,600 level and tested the $1,550-60 support area. There was even a spike below the 61.8% Fib retracement level of the last leg from the $1,460 low to $1,835 high. However, the decline was protected by the $1,560 support area.

 

A low was formed at $1,567 and the price started an upside move. It traded above the 23.6% Fib retracement level of the last decline from the $1,834 high to $1,567 low. Moreover, the price moved above the $1,625 level and the 100 hourly simple moving average. At the moment, the price is approaching a major hurdle near the $1,700 level. There is also a key connecting bearish trend line forming with resistance at $1,700 on the hourly chart of the BCH/USD pair. Additionally, the 50% Fib retracement level of the last decline from the $1,834 high to $1,567 low is at $1,705 to prevent gains.

 

Looking at the chart, it seems like it won’t be easy for buyers to break the $1,700 barrier. On the downside, the $1,625 support is a decent buy zone along with the 100 hourly SMA.

 

Looking at the technical indicators:

 

Hourly MACD — The MACD for BCH/USD is slightly in the bullish zone.

 

Hourly RSI (Relative Strength Index) — The RSI for BCH/USD has moved above the 50 level.

 

Major Support Level — $1,625

 

Major Resistance Level — $1,700

 

Author AAYUSH JINDAL | MAY 8, 2018 | 4:08 AM

 

Posted by David Ogden entrepreneur

Alan Zibluk Markethive Founding Member

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Bitcoin Price Technical Analysis for 05th May2018 – Long-Term Double Bottom

Bitcoin Price Technical Analysis for 05th may – Long-Term Double Bottom

Bitcoin Price Technical Analysis for 05/04/2018 — Long-Term Double Bottom

Bitcoin Price Key Highlights

Bitcoin price appears to be gaining traction on its climb as it approaches a key resistance.

A break past the $10,000 barrier could complete the creation of a double bottom reversal pattern.

Rallying past the neckline of the formation could lead to an uptrend of the same height.

Bitcoin price is forming a double bottom on its daily time frame to signal that a longer-term uptrend is due.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. This means that the selloff could still resume from here, possibly leading to another test of the bottoms at $6,000.

The 100 SMA appears to be holding as dynamic support, though, and a move past the 200 SMA dynamic inflection point could draw more buyers in.

Stochastic looks ready to turn lower from the overbought region to signal a pickup in selling pressure as well. But if buyers stay in control, a mov past the $12,000 area of interest and neckline could lead to a climb of around $6,000 or a rally up to the record highs.

Market Factors

Developments in the industry have been mostly positive, especially after Goldman Sachs announced plans to start a bitcoin trading operation. Execs also noted that bitcoin is not a fraud, contrary to CEO Blankfein’s statement on how it is in a bubble earlier on.

Apart from that, South Korea’s lawmakers are working on a bill to legalize ICO launches, also helping to add legitimacy to the industry. Japan has already created its regulatory body for ICOs, which means that the top markets for bitcoin are making good progress.

Dollar demand is also sinking leading up to the release of the NFP report as traders are wary that weak results could reinforce the less hawkish stance shared by the FOMC in their latest statement. Weaker than expected data could lead to even more dollar selling and bitcoin price could take advantage.

 

Author SARAH JENN | MAY 4, 2018 | 4:20 AM

 

Posted by David Ogden Entrepreneur

Alan Zibluk Markethive Founding Member