Crypto Market Wrap: A Quick Recovery From $3 Billion Intraday Dip

Crypto markets bounce back from a minor dump; EOS and Binance Coin making slow progress, the rest still stagnant.
Market Wrap
Things are still stable as we end another week in crypto land. Last weekend’s epic $17 billion big dump has not accelerated losses and total market capitalization has remained range bound at the $130 billion level for the best part of this week.
Bitcoin almost tested $3,900 in an intraday high but could not hold it and dropped back to below $3,800 a few hours ago. BTC has since recovered to $3,860 where it currently trades, exactly where it was this time yesterday.
Ethereum’s imminent hard fork has made no difference to its prices as expected. ETH has actually fallen back a fraction and is now trading at $137. Daily volume has increased by $1 billion though so a move could be impending. XRP continues to slide, losing another percent on the day back to $0.313.
The rest of the top ten is a rather mixed affair during today’s Asian trading session. Only a couple of altcoins are making small moves and they include EOS and Binance Coin both up 1.5%. Along with XRP, Stellar is slipping slightly dropping back to $0.086.
Top twenty movements are equally lethargic with the biggest daily losers being Bitcoin SV at 4% and Zcash dropping 2%. The rest are trading less than a percent in either direction.
The big fomo pump of the day is going to ABBC Coin which has surged 36%. This shopping industry based blockchain platform has announced a few airdrops but action appears to be part of the usual pump and dump cycle for low cap altcoins, tomorrow will tell. Nexo is also back pumping again with 14% on the day and Ravencoin is the only other making double digits on 12%.
Following yesterday’s big pump Decentraland’s MANA is getting dumped today losing 9% as the day traders cash out. There are no other altcoins dropping doubles at the moment as markets are very slow moving.

Ethereum Price Weekly Forecast: ETH Trading Near Crucial Juncture
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ETH price remained in a bearish zone and even tested the $180 support area against the US Dollar. The price is currently correcting higher, but it is facing hurdles near $192 and $195. There...

The post Ethereum Price Weekly Forecast: ETH Trading Near Crucial Juncture appeared first on 12bitplay - Bitcoin Play.

Total crypto market cap is exactly where it was 24 hours ago; just over $130 billion. An intraday dump of $3 billion down to $127 billion was quickly recovered to get things back in the channel. Daily volume is back up to $28 billion indicating there could be more movements this Friday.
The monthly picture looks good with markets trading 14% higher than they did the same time last month. Bitcoin dominance is currently at 52% as it too remains stable for the time being. The consolidation channel has held for the past five days but nothing stays still for long in crypto land.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: A Quick Recovery From $3 Billion Intraday Dip appeared first on NewsBTC.

Veteran Investor: Demand For ‘Psycho Crypto Currencies’ Good For Gold Prices
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The post Veteran Investor: Demand For ‘Psycho Crypto Currencies’ Good For Gold Prices appeared first on 12bitplay - Bitcoin Play.

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