Bitcoin Cash, Litecoin and Ripple Daily Analysis – 18/02/18

Bitcoin Cash Turns Red

Bitcoin Cash had a good start to the weekend, gaining 6.66% on Saturday to end the day at $1,629.5, outshining the likes of Litecoin that is considered to be one of Bitcoin Cash’s main competitors.

The gains cement Bitcoin Cash in 4th place in the crypto rankings, with a market cap of $26.95bn, as Litecoin continues to sit a distant 5th with $12.64bn, much depending upon the success of LitePay that’s due for release in a week’s time.

Perhaps of significance will be how Bitcoin, Bitcoin Cash, Ethereum and Litecoin fare on Coinbase’s commerce platform, with both businesses and consumers likely to favour one of the four cryptos that Coinbase has included for transactions. It would certainly be the first time that Bitcoin Cash has an opportunity to make a move on big brother Bitcoin…

At the time of writing, Bitcoin Cash is down 0.36% to 1533.8, with the Sunday blues hitting the cryptomarket early on, as Bitcoin Cash pulls back from an intraday high $1,630.

While Bitcoin Cash has fallen through its first resistance level of $1,543.7, we will expect there to be plenty of support at $1,450 should there be a pull back to sub-$1,500 levels.

Upside through the day will likely be limited, with any moves beyond today’s intraday high likely to face plenty of resistance as investors turn cautious ahead of the start of the week.

Regulatory chatter may have been on the silent side last week, but investors remain cognisant of the influences…

BCH/USD 18/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Gets Ready for Litecoin Cash

Litecoin enjoyed another day of gains on Saturday, though the Saturday rally paid little attention to Litecoin, which gained just 0.99% to an end of Saturday $230.49.

The gains through the week were significant and, with the Litecoin hard fork expected to take place later today on block 1371111, the cryptomarket will soon discover whether the moves through last week were in anticipation of the fork or in response to news of LitePay’s rollout on 26th February or even Litecoin’s inclusion on Coinbase’s commerce platform.

Litecoin holders will receive 10 Litecoin Cash coins for each Litecoin held in a Litecoin wallet. It’s free money and will have contributed to the increased demand, though whether Litecoin Cash will be included on any exchanges remains to be seen. There have also been some claiming that Litecoin Cash has been a scam. Such an outcome would most certainly see Litecoin cough up most of its gains from the week and pullback to $160 levels.

At the time of writing, Litecoin is down 1.10% to $227.36, with focus on today’s fork in focus, while the recent Sunday sell-off trend will likely weigh through the early part of the day.

Litecoin’s first support level sits at $226, which has been tested in the early hours and will most likely be tested again as the day progresses.

LTC/USD 18/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Goes into Reverse

It wasn’t spectacular, but it was a gain nonetheless, with Ripple up 4.75% on Saturday to a closing $1.1644.

Things were looking positive in the early part of the day on Saturday, with Ripple hitting an intraday high $1.2039, but as we have seen on previous Saturday sessions, investors are quick to lock in profits ahead of the weekend reversal that is underway this morning.

At the time of writing, Ripple is down 4.14% to $1.1301 and things have turned bearish, with Ripple likely to test its first support level of $1.112. A fall through to sub-$1.10 levels will bring the second support level of $1.048 into play, while we expect Ripple to hold on to $1.00 levels going into Monday.

XRP/USD 18/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Bitcoin Eyes $11,000 with Bitcoin Dominance on the Rise

A solid week for Bitcoin, which gained 26% Monday through to Friday’s $10,204.85 close, with Bitcoin managing to recover to $10,000 levels for the first time since the early February sell-off kicked in.

Bitcoin gained just 1.93% on Friday, but the key consideration is the fact that Bitcoin managed to hold on to $10,000 going into the weekend, with Cboe Bitcoin futures closing out Friday up $55 to $10,150.

Following a 6th February low $5,920.72, the recovery has been a gradual one and with it, Bitcoin seems to have found a new base level, with plenty of support sitting at sub-$10,000 levels.

Interestingly, while the cryptomarket breathed a sigh of relief last week, with the total cryptomarket cap rising from Monday’s $409.88bn to $502.2bn at the time of writing, Bitcoin’s dominance has also been on the rise, hitting 36.2% this morning.

In the weeks prior, Bitcoin dominance was attributed to negative sentiment, but times have changed and this could be off the back of Bitcoin being included in Coinbase’s commerce software that allows businesses to be paid in Bitcoin, Bitcoin Cash, Litecoin and Ethereum.

When considering Bitcoin’s standing in the cryptoworld, the Coinbase offering certainly brings the crypto one step closer to the mainstream, the only real issue remaining being the fact that the value of Bitcoin and the other cryptos continue to see sizeable fluctuations, with outside forces able to influence and even manipulate.

The cryptoworld gets more and more interesting each day and we can expect other payment platforms that facilitate payment with true cryptocurrencies to continue hitting the market, which can only be a good thing for the likes of Bitcoin.

Get Into Cryptocurrency Trading Today

With a lack of regulatory chatter to influence investor sentiment through the weekend, it’s been a positive start to the day, with Bitcoin up 4.61% to $10,666.49.

BTC/USD 17/02/18 Hourly Chart

Bitcoin hit an intraday high $10,780.14 this morning, breaking through its first and second resistance levels before easing back.

A move back through to today’s intraday high would support a run at $11,000 and, while we can expect plenty of resistance at $11,000, the weekend phenomena may be just the tonic needed to pull Bitcoin through.

We will expect Bitcoin to continue to find plenty of support at sub-$10,000 levels, with Bitcoin’s first support level sitting at $9,842. It would be quite a turnaround for Bitcoin to open Monday at $11,000 levels, when considering the amount of bad press the cryptomarket received through the start of the year.

Investors are returning and Bitcoin has yet to lose its sparkle, with Bitcoin’s market cap rising from a 2018 low $103bn to $178bn this morning.

Elsewhere, Stella Lumens is up 4.84%, with Ethereum up 3.06%, Ethereum not only finding continued support from the Initial Coin Offering market, but also from its inclusion in Coinbase’s commerce software offering.

Onwards and upwards, but not without volatility is the order of the day and Bitcoin $11,000 could well entice more investors back into the market.

Buy & Sell Cryptocurrency Instantly

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 17/02/18

Bitcoin Cash Holds On

It’s been an interesting week for Bitcoin Cash, with the first half of the week seeing some relatively minor moves as Litecoin grabbed the headlines ahead of a much talked about Sunday fork.

Friday was an altogether different story however, with Bitcoin Cash waking up from a deep sleep, rallying 12.3% to end the day at $1,523.5.

It’s a hotly debated subject and views differ significantly on whether Bitcoin or Bitcoin Cash will become the main alternative to fiat currency. Litecoin’s LitePay platform has certainly raised questions on whether there is a future for either but, with Coinbase’s commerce software that allows payments with Bitcoin, Bitcoin Cash and Litecoin, some of the pressure will be off Bitcoin and Bitcoin Cash for now.

It will boil down to both vendor and consumer preferences however and we may begin to get an idea of where the preference lies later this month…

After a 25.8% rally Monday through to Friday’s close, Bitcoin Cash is up 0.29% to $1,531.9 this morning, easing back from an intraday high $1,550.9, with the Saturday crypto rally in full swing at the time of writing.

Bitcoin Cash is behind for now, with the likes of Bitcoin and Stellar Lumen up 4.1% and 5.49% respectively, but sentiment has improved towards Bitcoin Cash, so a move through to $1,600 could be seen this afternoon.

For the day ahead, Bitcoin Cash’s first resistance level is $1,587, with any move through supporting a run to $1,650, with support expected to come in at $1,418.

As we have seen in previous weekends, Saturdays have been more bullish, with some profit taking weighing on the Sundays. If current levels can be held through to Monday’s open, a move through to $2,000 is possible through next week.

BCH/USD 17/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin, the Fork and All

It was some week for Litecoin, rallying 52.8% Monday through to Friday’s closing $227.99, though Friday was a little more subdued, with a gain of just 3.07%.

It was a choppy day on Friday and there remains plenty of questions over whether the mid-week rally was more in anticipation of Sunday’s Litecoin hard fork or because of news hitting the wires at the start of the week of LitePay being rolled out on 26th February.

With Coinbase looking to get in on the act, with their very own commerce software, the majors are certainly looking ready to give fiat money a run for its money, the only question is which will become more mainstream, Bitcoin Cash, Bitcoin or Litecoin.

Performance alone suggests that the race is between Bitcoin Cash and Litecoin, but the Litecoin fork is another curveball that the market will need to consider…

At the time of writing, Litecoin was up 0.97% to $230.46, with Litecoin easing back from an intraday high $233 hit earlier this morning.

For the day ahead, with the crypto rally in motion, a move through to $238 would support a run towards $248, with a late jump a reasonable prospect when considering the prospect of Litecoin Cash coins for those holding Litecoin at the time of the fork.

Litecoin’s first support level sits at $214, though we won’t expect this to be tests through today.

LTC/USD 17/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple in Stealth Mode

It’s been a tough week for Ripple’s XRP, though when considering how the global equity markets performed in their relief rally, Ripple’s 15.5% gain Monday through to Friday’s closing $1.1099 was not a complete disaster.

News through the week of Western Union looking to test Ripple’s platform and the Saudi Monetary Authority signing a deal to use Ripple’s platform was certainly good news and provided much needed support.

Ripple managed to hold on to $1.00 levels by the end of the week, but one does wonder what investors and speculators are looking for, with Ripple seeing only a slight response to the news hitting the wires.

At the time of writing, Ripple is up 1.77% to $1.131, with interest elsewhere limiting Ripple’s upside.

For the day ahead, Ripple has already tested its first major resistance levels of $1.14 and $1.17 and, with an intraday high of $1.76 and bullish trend forming, suggests an imminent move through to $1.20 levels is possible.

Support will be seen at $1.07, with Ripple unlikely to give up $1.00 levels over the weekend, with sentiment having improved through the week.

XRP/USD 17/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

 

What You Should Know Ahead of the Litecoin Hard Fork

Litecoin has enjoyed a return to the limelight this week and a return to the number 5 spot in the market cap rankings coming off the back of a rally that started off in the early hours of Wednesday morning, with Litecoin surging 49.6% to Thursday’s high $237.72, before easing back to $218.88 at the time of writing.

Litecoin Daily Chart
Litecoin Daily Chart

The rally has come at a time when investor sentiment has been a little edgy following a number of governments and regulators stepping out to discuss their intentions vis-a-vis the cryptocurrencies and the Initial Coin Offering markets.

The latest Litecoin rally has fallen well short of the December rally to an all-time high $304 back, but when considering the fact that the total cryptomarket cap is down almost $400bn from its December highs, expecting to hit fresh record highs would be unrealistic when considering the degree of uncertainty around the outlook towards the regulatory landscape that continues to plague the market.

Litecoin’s rally this week has been an isolated one and, in spite of Bitcoin managing to recover to $10,000 levels this week, the Litecoin gains can be attributed to a number of events.

The team’s planned rollout of LitePay on 26th February and news of Coinbase launching its ‘Coinbase Commerce’ software enabling vendors to accept payments in Bitcoin, Bitcoin Cash, Ethereum and Litecoin has garnered a pickup in interest for the crypto this week, but perhaps of greater interest for the speculative investor has been the talk of a Litecoin hard fork.

Perhaps the very fact that this week’s rally ensued on Wednesday and not on Monday, in response to the announcement of the scheduled rollout of LitePay later this month, is evidence in itself that the 50% gain has come in anticipation of Litecoin’s hard fork this weekend.

The news of a Litecoin hard fork had hit the wires on 3rd February, but as has been the case with the Bitcoin hard forks, there’s no real need to have exposure to the cryptocurrency for any particular period in advance of the hard fork, as long as the investor holds Litecoins at the time of the actual hard fork.

Looking at exchange volumes, Gdax has seen the largest LTC/USD trades over the last 24-hours, accounting for 15.19% of total volume, with Okex coming in second, with 10.74% of total volume, supporting the view that much of the moves this week are attributed to speculative trades ahead of a possible Sunday hard fork, when looking at the material increase in trading volumes. (Data sourced from Coingecko)

On 14th February alone, trading volumes jumped from a previous day 483,460,000 to 2,383,340,000, with volumes exceeding 2,000,000,000 for the first time since the first week of the year rally.

What is Litecoin hard fork?

Litecoin’s hard fork is scheduled for Sunday, 18th February or Litecoin block 1371111 and will result in the creation of Litecoin Cash, as was the case with Bitcoin’s hard fork August of last year.

Holders of Litecoin have been advised that they will receive 10 Litecoin Cash coins for each Litecoin held at the time of the fork.

Unlike Litecoin, the new Litecoin Cash coin (“LCC”) will be run with Bitcoin and Bitcoin Cash’s SHA256 algorithm and not Script that is used for Litecoin.

Other than the mining algorithm used for verifications, the two other key differences to Litecoin will be the maximum supply, with the total supply of LCCs being 840 million coins, compared with Litecoin’s (“LTC) 84 million and the difficulty adjustment, which is every block (DarkGravity) compared with Litecoin’s 3.5 days.

For miners, there will certainly be plenty of incentive to mine for Litecoin Cash, with the SHA256 proof-of-work algorithm enabling miners to use obsolete Application-Specific Integrated Circuits (“Asics”) Bitcoin mining hardware to mine for Litecoin Cash.

According to the Litecoin Cash website, mining difficulty will be recalculated every block, using Evan Duffield’s DarkGravity V3 algorithm from Dash, which reportedly provides more predictable block times as well as network protection from multipool hopping.

Target block time of 2.5 minutes delivers transaction speeds that are 4x faster than Bitcoin, whilst transaction fees are reportedly 90% cheaper than Litecoin.

The LCC team has also implemented a ‘Slow-Start Control’ system in order to prevent dominant early miners from having an unfair advantage, with block rewards starting at 1.25 LCC before growing to 250 LCC over the first 400 blocks after the fork. The first 24 blocks after the fork will be mined at minimum difficulty, following which DarkGravity will adjust the difficulty based on block generation time.

The LCC team are ultimately looking to deliver a fast, cheap SHA256 coin with favorable difficulty adjustment. Current SHA256 miners are limited for choice of coins to mine, whilst also being paid by a cryptocurrency with 10 minute block times.

How to claim your Litecoin Cash?

For Litecoin holders, it is important to store the Litecoins in a private Litecoin wallet and not on an exchange, where holders will have no way of accessing the private key needed to claim LCCs.

It is advised to hold Litecoin in a Litecoin wallet where the holder will have controls of the private keys, such as a desktop wallet Litecoin Core or Jaxx.

If a Ledger is being used, it would be advisable to move the coins from the Ledger to a Litecoin desktop wallet until the fork block takes place.

Litecoin holders are reportedly not required to have wallets open or unencrypted during the fork, with paper wallets and other forms of cold wallets expected to receive LCCs without any issues.

For Litecoin holders, in the interest of safe forking, private keys that hold live coins should never be pasted into any wallet or website in order to claim LCCs. Once the fork has taken place, Litecoin holders should move the Litecoins to a new address and then use the private key from the old address to claim the new LCCs.

At present, the LCC team have stated that no announcements have been made by exchanges supporting LCC that will credit LTC holders with LCC automatically. In the event that Litecoin holders have stored their coins with a 3rd party, it is advisable to inquire about the claiming of Litecoin Cash in advance of the fork, in the event that they have not been transferred to a private Litecoin wallet.

Bitcoin Coughs up $10,000 as Cryptos Go Into Reverse

It’s been a good week for Bitcoin this week, with Bitcoin seeing just one day of decline Monday through to Thursday, with Tuesday’s 3.2% fall as bad as it got for the crypto.

While Monday and Wednesday saw Bitcoin see double digit gains, Thursday’s move through to $10,000 levels was the key move of the week. Bitcoin having languishing at sub-$10,000 levels since the start of the month sell-off that saw Bitcoin fall to sub-$6,000 levels.

A lack of regulatory commentary from governments and regulators through the week has certainly eased the negative sentiment towards the cryptomarkets, with levels through the earlier part of the week having been considered on the attractive side for investors.

Thursday’s 8% gain to a closing $10,253.41 was an impressive one considering the fact that all of the limelight through the day had been on Litecoin, it’s Sunday fork and the planned roll out of LitePay later this month.

Interestingly, news of the Spanish government looking to create a tax haven for cryptocurrencies and blockchain techs had little influence on the cryptomarket this morning.

Spain may not be amongst the largest crypto jurisdictions in the world, but regulatory arbitrage is likely to evolve as certain jurisdictions come down hard on the cryptomarkets.

Get Into Cryptocurrency Trading Today

Through the early part of this morning, Bitcoin has pulled back from a week high $10,300 hit at the start of the day, with some profit taking likely to have contributed to the 1.58% decline to $9,859.97 at the time of writing.

While a negative trend has formed through the morning, we will expect Bitcoin to find support at sub-$9,760 levels, with any fall through $9,760 likely to see Bitcoin pull back to sub-$9,700 levels before any recovery ahead of the weekend.

Bitcoin’s dominance of 35.6% reflects the negative moves across the cryptocurrencies this morning, with only Bitcoin Cash in positive territory amongst the majors at the time of writing, up 5.4% at $1,430.

Across the rest of the majors, Ethereum was down 1.71% to $913.4, with Litecoin down 4.6% to $211 and Ripple down 3.18% to $1.067.

There will be hopes of another Saturday rally that the cryptomarket has become accustomed to in recent weeks, though with Cboe Bitcoin future March contract down $235 to $9,860 this morning, any major rally ahead of the close may well be hold through the middle part of the day.

It’s a 22% gain since Monday’s open and, while it may not be spectacular, some investors will be happy to call it a week.

Buy & Sell Cryptocurrency Instantly

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 16/02/18

Bitcoin Cash on the Move

Bitcoin Cash has been a straggler of late, with Bitcoin having outgunned the August fork in recent days.

Bitcoin Cash investors will be mindful of what’s going on with Litecoin and the anticipated roll out of LitePay later this month that could see demand for the Bitcoin clan fall in the coming months.

While some of the major cryptocurrencies made solid gains on Thursday, Bitcoin Cash was certainly behind the curve, gaining just 1.83% to end the day at $1,356.7, in what was a day of tight ranges for the crypto.

Holding on to $1,300 levels was key for the day however, with Bitcoin Cash not needing to test its first major support level.

This morning has been an altogether different story however, with Bitcoin Cash hitting the ground running at the start of the day, surging 9.33% to $1,483 at the time of writing.

For the Bitcoin Cash bulls, the good news is that there’s some daylight between Bitcoin Cash and Litecoin by market share, with Bitcoin Cash’s market cap rising to $25.8bn. The bad news is that Bitcoin Cash has broken through its first two major support levels, with an intraday high $1,545. Any push through $1,545 levels and beyond will likely face stern resistance, though if the start of the day is anything to go by, a move through $1,550 could see Bitcoin Cash make a move for $2,000 levels.

BCH/USD 16/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Consolidates

Litecoin had a day of two halves on Thursday, with an early $237.72 spike bringing the Litecoin rally to an end, as investors continued to speculate on the Litecoin hard fork on Sunday and whether the recent gains came off the back of investors looking to receive the free Litecoin Cash coins after Sunday’s fork.

Litecoin gained 4.8% on Thursday to end the day at $222.02, which was well below the early Thursday levels.

There has been some confusion over the weekend’s Fork, with Litecoin founder Charlie Li and the Litecoin community calling the fork a scam. Time will tell how much of the demand for Litecoin can be attributed to the fork, with investors likely to lock in profits upon receipt of the Litecoin Cash coins, if the moves have indeed been driven by speculative investors looking ahead to the fork.

Things have not started so well for Litecoin this morning however, with Litecoin down 4.46% to $211.35 at the time of writing, reversing most of Thursday’s gains with a bearish trend forming.

We will expect Litecoin to have plenty of support at current levels, with focus being on the weekend fork, LitePay’s roll out and the Coinbase commerce platform that allows vendors to accept payments in Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

On the upside, for the rally to resume, a move back through to $220 levels will be needed for Litecoin to test its first major resistance level of $238, though this may be a step too far ahead of the Saturday rallies that the cryptomarket has become accustomed to.

LTC/USD 16/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Struggles on

It’s not been the best of weeks for Ripple, with Thursday’s 3.3% fall to an end of day $1.1088 all but removing the chances of a rally ahead of the weekend.

At the time of writing, Ripple was down 0.86% to $1.0913, with the majority of the crypto frontrunners in the red in the early part of the day.

Success stories this week have failed to spur appetite for Ripple, with news of the Saudi Arabian Monetary Authority signing a blockchain deal with Ripple having little impact and that comes after news of Western Union also looking to give Ripple a try.

Based on how the market responds to positive and negative news, it’s still some way off performing in a more orderly manner and until it does so, a lot of investors will continue to sit on the side lines, barring the odd speculative trade.

For the day ahead, Ripple will need to move back through $1.10 levels to avoid testing its first major support level of $1.0634, which has already been tested once this morning, suggesting that a steeper fall could be on the cards should Ripple not make a move soon.

XRP/USD 16/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Litecoin Technical Analysis – Resistance is Futile 15/02/2018

Key Highlights

  • Litecoin hit an intraday high 219.04 on Wednesday, before easing back ahead of the close to end the day up 37.8% at $219.04.
  • A bullish trend continues through the early part of Thursday, with Litecoin up 10.33% to $233.74 at the time of writing.
  • Litecoin’s first major resistance level of $241 has yet to be tested, with this morning’s intraday high $237.72 falling short.

Litecoin Price Support

Litecoin has been the trailblazer this week, up 56.6% from Monday’s open, with Litecoin having smashed through its resistance levels this week.

Following a mixed start to the day, the major cryptocurrencies are in positive territory and for Litecoin, a move through its first major resistance level is going to be needed to avoid a pullback to its 23.6% FIB Retracement of $205.27.

While Litecoin has been on the move this week, there has been some uncertainty over the cause of the move, with some speculation over the possibility of a Litecoin fork and creation of Litecoin Cash being considered as one of the key drivers. The anticipated roll out of LitePay on 26th February will also be a factor and, with Litecoin’s founder Charlie Li having talked down the possibility of a fork, LitePay will likely be the main reason behind the moves this week.

Litecoin’s market cap is up to $12.58bn and Bitcoin Cash continues to be the next target, though some care will be needed in the days ahead to ensure that there has been no influence on Litecoin from the fork chatter from earlier in the week.

On the downside, a fall through the 23.6% FIB Retracement level could see a more significant pullback to test $185 and $177 support levels, with such a move likely to affirm the views of those who have attributed the rise to fork talk and nothing else.

We will expect Litecoin to ease off today’s highs, however, as Litecoin stalled at $233 this morning, though the declines are unlikely to be significant with plenty of support at current levels, with the speculative investor looking to jump in, on hopes of a rally through to $400 and beyond.

Looking at the Technical Indicators

  • Major Support Level: $177.8
  • Major Resistance Level: $241.4
  • Fib 23.6% Retracement Level: $204.27
  • Fib 38% Retracement Level: $185.19
  • Fib 62% Retracement Level: $152.73

Bitcoin Holds on, While the Litecoin Rally Kicks in Again

Bitcoin reversed Tuesday’s losses with interest on Wednesday, gaining 10.5% to end the day at $9,395.83.

While Bitcoin moved in the shadows of Litecoin through the day, it was an important move, with the Cboe Bitcoin futures market having pinned Bitcoin back of late.

Bitcoin managed to outperform Bitcoin Cash on the day, in spite of speculation that Bitcoin Cash could ultimately take over Bitcoin as an alternative to fiat money.

A lack of regulatory news chatter through the day certainly contributed to Bitcoin moving through its first two major resistance levels on the day.

Breaking through $10,000 was a step too far however, with Bitcoin having last touched $10,000 levels at the beginning of the month.

Get Into Cryptocurrency Trading Today

At the time of writing, Bitcoin was up 2.62% to $9,740, with Bitcoin having hit an intraday high $9,778.66 early this morning.

A bullish trend formed in the morning and, with Bitcoin dominance hitting 35%, there has been building support for the crypto in spite of more broad based gains seen across the major cryptocurrencies on Wednesday.

Moving through $10,000 may be quite a test however, with Bitcoin currently facing its first resistance level at $9,772. A break through to $9,850 would support an attempt at $10,000, though investors may look to lock in gains and wait for the next rally, particularly with Bitcoin up 20.6% since Monday’s open.

Adding to the tug on Bitcoin will be the Cboe Futures Bitcoin March contract, which is sitting at $9,710, up $440 for the day. This week’s moves have been driven by the cryptomarket rather than the futures market, but we continue to expect some influence from the futures market.

For the day ahead, any sideways moves could see Bitcoin fall back to $9,500 levels, though we would expect support to kick in well before its first major support level of $8,762, with sub-$9,000 levels an unlikely end to the day.

The good news for the Bitcoin Bulls will be the fact that money is coming back to the table and it’s getting its fair share, with Bitcoin’s market cap now up to $163.8bn, recovering from last week’s $103bn low.

Elsewhere, Litecoin’s shadow gets every larger, with Litecoin up 10.30% to $233.67, while Ethereum continues to struggle to recapture $1,000 levels, up just 1.5% to $934.19 at the time of writing.

For Litecoin, the market will need to see whether the recent rally was as a result of the announced launch of LitePay or as a result of the Litecoin Cash fork talk. If it’s the latter, the broader market could fall foul of a sell-off, as the news would be considered as yet another market manipulation that will likely garner even greater attention from regulators and governments.

Buy & Sell Cryptocurrency Instantly

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 15/02/18

Bitcoin Cash Sees Red

It was a positive day for the cryptomarkets on Wednesday, with Bitcoin Cash gaining 8.8% to end the day at $1,325.8, as Bitcoin Cash broke through $1,300 levels for the first time since last Saturday’s rally.

An intraday high $1,376.9 was not enough to spur a move through to $1,400 levels, with plenty of resistance on approach to $1,400 causing a pull back at the close.

Through the early part of this morning, it’s been a choppy start to the day, with Bitcoin Cash pulling back from an intraday high $1,353.6 to $1,335.7 at the time of writing, a 1.09% fall for the day.

While this morning’s fall may not be considered a significant one, the divergence from Bitcoin (+2.2%) is an interesting one, with the major cryptocurrencies seemingly split through the morning.

For the day ahead, greater attention on Litecoin will likely weigh on sentiment towards Bitcoin Cash, though we won’t expect the first major support level of $1,237 to be tested, barring a near-term fall below $1,300 that could trigger a bigger pullback from Wednesday’s gains.

BCH/USD 15/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Trailblazing

It was a momentous day for Litecoin and the team on Wednesday, with Litecoin leaving the rest of the major cryptocurrencies in the dust, rallying 37.8% to end the day at $219.04.

The rally may not be any match to last December’s move through to an all-time high $304, but when considering the negative press and general sentiment in the crypto market, the move was certainly an awakening ahead of the launch of LitePay later this month.

Adding to the upside was talk of a Litecoin fork that brings the promise of new Litecoin Cash tokens, though both Litecoin’s founder Charlie Lee and the Litecoin community have talked down the fork, suggesting that it’s a scam.

The fact that there was very little sell-off ahead of the close, with Litecoin having hit an intraday high $222.52 shortly before the end of the day, was a positive going into the day, somewhat softening the speculation surrounding the fork.

It’s been another solid start this morning, with Litecoin rallying 7.57% to $227.88 at the time if writing. If there was ever a time that speculative investors would be jumping in, now may well be it.

Talk of $400 will certainly spur Litecoin and we can expect Litecoin to continue to put pressure on Bitcoin Cash for the number 4 ranking, with Litecoin’s market cap rising to $12.6bn this week.

For the day ahead, Litecoin’s first major resistance level sits at $241. A move through $240 would support a run at $300, though we will expect some profit taking to influence through the day.

LTC/USD 15/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple in the Red but Holds $1.00 levels

Ripple enjoyed a day in the sun on Wednesday, gaining 11% to end the day at $1.09545, with Ripple managing to touch $1.16 levels before easing back ahead of the close.

There’s been plenty of noise of late, but the lack of regulatory chatter has allowed the cryptomarket to recoup some of its current year losses, though there’s a long way to go before Ripple’s highs are reached.

At the time of writing, Ripple was down 0.88% to $1.115, with Ripple’s first major resistance level sitting at $1.179 giving the crypto plenty of room to move should Ripple manage to make a move through $1.15 levels, having hit an intraday high $1.1645 earlier this morning.

We will expect Ripple to continue finding strong support at sub-$1.00 levels, with Ripple’s first major resistance level sitting at $0.992.

XRP/USD 15/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Bitcoin on the Move, but in the Shadows of Litecoin

Following a choppy weekend that left Bitcoin in the red, Bitcoin gained 10% on Monday to end the day at $8,922.12, with a relatively quiet day on the news wires providing support to the cryptomarket through the day.

It was a mixed day for Bitcoin on Tuesday, with the first half of the day seeing Bitcoin test sub-$8,400 levels, before making a partial recovery to end the day down 3.2% at $8,608.27.

There has been strong resistance at $9,000 of late, with Bitcoin struggling to break through to Saturday’s $9,090.8 high, which had been touched all too briefly.

Few major cryptocurrencies were able to end the day in positive territory on Tuesday, with Bitcoin amongst the majority that partially reversed Monday’s gains.

In spite of the news wires doing little damage to the cryptomarkets through the first half of the week, investors have remained relatively cautious, which has been reflected in Bitcoin’s dominance levels that have held at 34.7% – 34.9% levels.

Get Into Cryptocurrency Trading Today

Following Tuesday’s fall, which stemmed from a bearish start to the day that saw losses too great to recoup by the close, sentiment across the cryptomarket has seen some improvement through the early part of the day today.

At the time of writing, Bitcoin is up 3.74% to $8,841.57, easing back from an intraday high $8,915 hit in the last hour, with a bullish trend having developed through the start of the day.

With Bitcoin’s first major resistance level sitting at $8,920, a move through to $9,000 levels will be needed to avoid an afternoon pullback towards this morning’s low $8,504.57, which could test the first major resistance level of $8,328 later in the day.

With the Cboe Bitcoin Futures February contract, expiring today, sitting at $8,870 and the March contract sitting at $8,880, the futures market continues to give Bitcoin little room for manoeuvre, with the ranges sitting tightly against resistance levels.

It feels like a breakout is needed, but whether today is the day remains to be seen.

Elsewhere, Bitcoin Cash continues to sit in the shadows of big brother, currently up 3.74% to $1,263.7, while the story of the day is Litecoin, which is considered by many to be Bitcoin’s main adversary in the battle to become the first viable alternative to fiat money.

Litecoin has managed to hold on to early gains, currently up 14.26% to $181.57, with many in the market having long speculated on whether Litecoin will eventually replace Bitcoin at the top of the crypto tree.

There’s a long way to go for Litecoin to get there, with Bitcoin’s market cap having recovered to $150.4bn, significantly higher than Litecoin’s $10.1bn. But, as we saw with Ripple in late 2017, money can flood in rapidly and when considering where the current total cryptomarket cap sits, there’s around $400bn that has yet to return to the table, and that’s more than enough to propel Litecoin to the top.

It sets up for an interesting showdown at the end of this month and, while early movers embraced Bitcoin and its concept and alternative payment method, functionally LitePay must be a far superior platform for the Litecoin team to be rolling it out this month.

Time will tell, but pressure on the alternative true cryptocurrencies is on and this can only be the beginning of more true cryptocurrencies hitting the market.

While we see fiat money come in many forms, whether U.S Dollar, UK Pound or EUR for example, the next debate will be whether there is a place in the world for multiple cryptocurrencies. It’s hard to see the benefit, so who comes out on top could spell the end for the rest.

Buy & Sell Cryptocurrency Instantly

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 14/02/18

Bitcoin Cash in Choppy Waters

It’s been a choppy few days for Bitcoin Cash, which has been gyrated between gains and losses in recent days.

Following Monday’s 5.26% gain, Bitcoin Cash slipped 3.43% to a closing $1,235.8 on Tuesday only to see a reversal this morning, with things looking particularly bullish in the early part of the day.

Through Tuesday, Bitcoin Cash found strong support at $1,200, with a fall to $1,200 levels on 3 separate occasions resulting in a bounce back through to Tuesday’s close.

While investors are all too aware of all of the regulatory chatter that has been driving the cryptomarket of late, a lack of any major negative news was a positive for Bitcoin Cash and the cryptos through the latter part of the day.

At the time of writing, Bitcoin Cash was up 4.67% to $1,275, with its first major resistance level sitting at $1,280. A move through to $1,290 would support a rally to the low $1,300s, with $1,400 levels perhaps a step too far, as investors continue to lock in profits amidst heightened uncertainty.

Strong support will likely continue, with Bitcoin Cash’s first support level sitting at $1,195, though much can change should the news wires begin to churn the regulatory chatter through the day.

BCH/USD 14/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin on the Bounce

Litecoin fared better than most on Tuesday, managing to consolidate Monday’s 8.2% gain, with a 0.06% rise to end the day at $161.49.

While other cryptocurrencies saw increased volatility through Tuesday, Litecoin was relatively range bound through the day, moving between an intraday high $162 and intraday low $153.4.

There’s been somewhat of a delayed reaction in the markets to news of the planned rollout of LitePay on 26th February, with the market turmoil stemming from the regulatory chatter having overshadowed what could be a game changer, not just for the Litecoin team, but for cryptocurrencies looking to provide consumers and businesses with an alternative to fiat money.

As the ECB has rightly pointed out on its website, Bitcoin has many shortcomings that has ultimately opened the door for the Litecoin team to deliver a product that addresses each and every issue that makes Bitcoin an unlikely alternative to fiat money.

At the time of writing, Litecoin is up 12.96% to $179.5, having broken through its major resistance levels through the first part of the morning.

While we can expect some profit taking to get in the way of Litecoin’s path through to $200, things are looking up for Litecoin investors, with this morning’s moves likely to see talk of $400 and beyond begin to hit the news wires again.

We will still expect Litecoin to be sensitive to regulatory chatter, but with the likelihood that most if not all regulators will classify Litecoin as a true cryptocurrency and not a security, there is some good news to take away from the recent noise.

For the day ahead, a breakthrough to $200 will support a free run at $300 levels, though there will be plenty of resistance at $200, with any stalled attempts to break into the $200s likely to see Litecoin pull back, though support will be strong at its first major support level of $156.

Today could be a poignant day for Litecoin and the Litecoin bulls, with Litecoin now having moved ahead of Cardano in the rankings by market cap, now ranked 5th and sitting behind Bitcoin Cash, its next target.

LTC/USD 14/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Recovers to $1.00

Ripple was amongst the majors on Tuesday that saw a choppy session eat away at Monday’s 8.2% gain, ending the day down 4.6% at $0.996.

For Ripple investors, $1.00 continues to be the key handle and Ripple has managed to hold on through most of the early part of the week.

The upbeat sentiment towards the cryptomarket this morning, saw Ripple bounce back to an intraday high $1.0483 in the last hour, before easing back to $1.018 at the time of writing, a gain of 3.29%.

For now it looks as though Litecoin has garnered the attention of the market, with Ripple’s successes in the real world having already been priced in.

The day ahead will likely be a choppy one, though we will expect Ripple to continue finding strong support at sub-$0.96 levels, with Ripple’s intraday high $1.0483 having already tested its first major resistance level of $1.0459.

A move through to $1.05 levels would support a run at $1.09, while any sideways moves could see Ripple fall back to sub-$1.00 levels later in the day.

XRP/USD 14/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 13/02/18

Bitcoin Cash in Reverse

Bitcoin Cash had a relatively positive start to the week, gaining 5.26% to end the day at $1,275 on Monday.

While it was a positive session, there were no milestones hit, with Bitcoin Cash hitting an intraday high $1,297.3 late in the day, as two attempts to break through to $1,300 levels were thwarted through the day.

Regulatory chatter was on the quieter side through Monday, giving the cryptocurrencies some room to move, though Bitcoin Cash did lag behind some of the other majors, with Bitcoin having gained 10.5% through Monday.

At the time of writing, Bitcoin Cash is down 5.11% to $1,217.8, with investors locking in profits ahead of any more regulatory chatter, which is certainly beginning to build this morning.

News just in, reported that the Russian government has proposed to require companies or projects raising capital through the ICO market to have a capital threshold, while in Thailand, the Bank of Thailand has requested that banks do not invest in cryptocurrencies, with no outright ban, as had been reported on Monday.

Thailand’s SEC added that it will be monitoring all ICOs and will reprimand companies that are not in compliance with the regulations. While Thailand may not be the biggest of the crypto jurisdictions, the news is a firm reminder of how quickly the landscape is changing.

For the day ahead, with Bitcoin Cash having fallen through its first major support level of $1,222, the next level of support is likely to kick in at sub-$1,200 levels, in what’s looking to be quite a bearish trend forming in the early part of the day.

BTC/USD 13/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Slips

Litecoin had a positive start to the week, rising by 8.19% on Monday to end the day at $161.49, though it could have been a better day with Litecoin hitting an intraday high $163.28.

The gains in Litecoin were somewhat better than Bitcoin Cash, with Litecoin now expected to be the market favourite from an alternative to fiat money perspective, though there will be some disappointment to the delay in LitePay’s release, which was due to be released last week and is now scheduled for roll out on 26th February.

At the time of writing, Litecoin was down -2.23 to $157.9, with declines being seen across the board, as regulatory news continues to hit the cryptomarket.

For the day ahead, we will expect Litecoin to have plenty of support at $154 levels, with the prospects of LitePay expected to continue providing support to Litecoin and ease some of the negative sentiment seen in the markets this morning. A move back through to $160 could see Litecoin test its first major resistance level of $168.54 later today.

LTC/USD 13/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Holds on to $1.00

Ripple had an upbeat day on Monday, rising by 8.09% to end the day at $1.039, with the good news for Ripple investors being the support levels at sub-$1.00.

After rallying to an intraday high $1.234 on Friday, there is plenty of appetite for Ripple and, while the start of the day has been a poor one, with Ripple down 2.74% to $1.013, holding on to $1.00 levels will be key through the day.

Any moves through to $1.05 levels would support a run towards $1.10, though sentiment will need to shift early to avoid testing support levels this afternoon.

XRP/USD 13/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

 

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 12/02/18

Bitcoin Cash Steadies

A promising start to the weekend turned sour mid-way through Saturday, with Bitcoin Cash going into reverse after hitting a weekend high $1,385 early on.

Uncertainty is the name of the game at the moment and it’s reflected in the moves seen across the cryptocurrency majors, with any rallies frequently coming to an untimely end, investors all too aware of how drastically sentiment can shift in a matter of seconds.

Bitcoin Cash ended the weekend down 6.01% to $1,219.9, falling by 1.64% on Sunday, following Saturday’s choppy session.

At the time of writing, Bitcoin Cash was up 2.48% to $1241.3, with sentiment improving through the early part of the day, though Bitcoin Cash has been moving in some relatively tight ranges through the start of the week, with volumes easing off.

For the day ahead, a move through to $1,280 would support a run through to $1,300 levels, though we will expect some strong resistance at the start of the week, with Cboe Bitcoin futures February contract down $220 to $8,380 unlikely to be providing too much incentive for investors ahead of the Chinese New Year.

BCH/USD 12/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Goes North

Litecoin joined the majority of the cryptomarket in the red for the weekend, with Litecoin falling 7.79% to $151.32, Litecoin down 2.42% on Sunday.

It was a mixed weekend for Litecoin, which rallied to a weekend high $169.49 on Saturday morning before the great slide to a weekend low $142.26, hit in the early hours of Sunday morning.

Litecoin investors will have been looking for Litecoin to pop on release of its new payment platform LitePay, but till now there has been no news of its launch, with there being some uncertainty over the exact timing of release.

Talks of Litecoin hitting $1,000 will certainly draw in the speculative investor, though for now investors will be looking for evidence of the product and whether it will be accepted by consumers and businesses.

At the time of writing, Litecoin was up 2.12% to $152.43, with a bullish trend forming, though a move through to $160 levels will be needed early on to avoid a pull back to test sub-$150 support levels.

LTC/USD 12/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Rides Again

Ripple turned out to have a relatively positive weekend, though it could have been so much more. Ripple gained 7.36% to end the weekend at $0.98812, with the gains coming in spite of a 3.46% fall on Sunday.

The early part of the weekend was certainly headline news for Ripple, which had rallied 34% from Saturday’s opening $0.92042, before the great tumble as investors locked in profits ahead of Monday’s open.

Sunday’s losses were more aligned with recent trends, with investors cashing out ahead of uncertainty that continues to grip the cryptomarket through the early part of the week.

A lack of major news and the Japan government’s positive sentiment towards the cryptocurrency market, in spite of the recent NEM coin theft from Coincheck, have certainly been positives through the early part of Monday.

At the time of writing, Ripple was up 5.09% to $1.0108, with Ripple expected to be one of the longer-term front runners as its cross-border payment system becomes more widely embraced.

Ripple is leading the pack this morning and it’s certainly looking bullish, with a move through to $1.05 levels supporting another run towards $1.10 and beyond, though much will depend on the news wires and it’s unlikely to be smooth sailing through the day.

XRP/USD 12/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 11/02/18

Bitcoin Cash in Reverse

It was another Saturday of what could have been for Bitcoin Cash. Following a positive end to the week and, with the news wires relatively silent, Saturday morning saw Bitcoin Cash move through to an intraday high $1,385.00.

In the end, Bitcoin Cash slipped to an intraday low $1,198.00 before recovering to $1,261.1 to register a 2.76% decline for the day.

The weekend trends have been relatively consistent through the start of the year, with investors quick to lock in any profits before the start of a new week.

This time around the sell-button was certainly hit more quickly than usual, but that is to be expected in the wake of such a choppy week that, not only saw Bitcoin Cash fall to a week low $758.61, but also saw more than $4tn walk out of the global equity markets.

While there’s no evident correlation, investors with exposure to both equity and crypto markets would certainly be more likely to take a balanced view, last week’s trough to peak rally more than offsetting any losses that would have been taken across other asset classes.

At the time of writing, Bitcoin Cash was down 1.54% to $2,221.00.

For the day ahead, we will expect investors to be relatively cautious, with news having hit the wires of the SEC planning to take a tough stance on initial coin offerings and differentiate between true cryptocurrencies, such as Bitcoin and ICO tokens, not new news but a reminder to investors of what’s on the horizon.

Bitcoin Cash will need to make a move through $1,300 to avoid testing support sub-$1,100 levels ahead of the start of the new week.

BCH/USD 11/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin on the Slide

Following a strong 2nd half of the week, Litecoin’s weekend rally came to an abrupt end midway through Saturday, with Litecoin falling from an intraday high $169.49 to an intraday low $148.02 before a partial recovery to 153.64.

Saturday’s 6.38% slide was certainly an unexpected one, with the cryptocurrencies seeing gains across the board in the early part of the day.

Investor sentiment towards regulatory oversight remains negative and, with the news wires continuing to discuss the ongoing shift in the regulatory landscape in key crypto jurisdictions, investors continue to be quick to lock in profits.

Things were not much better this morning, with Litecoin down 6.06% to $145.68 at the time of writing, in what is developing into another bearish trend, as Bitcoin dominance moves back towards 35% plus levels, signalling weakening appetite for cryptocurrencies, with dominance sitting at 34.8% at the time of writing.

For the rest of the day, a move through to $150 levels would ease some pressure, though with uncertainty going into the next week, any material gains may be on hold, with the path of least resistance being further declines through the day.

LTC/USD 11/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Corrects Again

It was an extraordinary day for Ripple on Saturday, with Ripple rallying 34.1% to an early Saturday high $1.234, before seeing a 2nd half of the day slide to an intraday low $0.9271.

In the end, Ripple gained just 6.45% to end the day at $0.9798, though it could have been so much more, with negative sentiment still lingering in the markets, leading investors to lock in profits before the end of the weekend session.

Any hopes of a weekend rally to kick start the week on a positive footing look slim at present, with Ripple down 10.36% to $0.9173 at the time of writing. Quite a fall, with Ripple taking a bigger hit than most, volatility sitting on the higher side relative to many of the major cryptos.

For the remainder of the day, a move back through to $1.00 levels would certainly support a late Sunday rally, though we will expect there to be plenty of resistance ahead of Monday, with sub-$0.90 support levels having already been tested this morning, Ripple having already hit an intraday low $0.8905.

XRP/USD 11/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

IQeon ICO Picks Up Steam, Not Much Time Left to Invest

IQeon is a revolutionary decentralized PvP platform providing easy ways for gamers to monetize their in-game achievements. The startup is also stuffed with open SDK facilitating the development of the games hosted on the IQeon platform. Open API and smart contracts technology revolutionize the world of online betting. Bets placed on IQeon could be on the results of competitions run on the platform or any other game existing on the Internet.

IQeon is an already working product and one of the first games to be placed there is IQClash Lite. The game is based on the Blockchain technology and covers sessions of intellectual mini-quests where the players compete with each other.

Investment specialists and Blockchain professionals rate the startup quite high. ICORating gave the project low-risk investment score. ICOBazaar and ICOBench rated the project 4.5 out of 5 and ICORanker — 78 out of 100.

Not only rating platforms notice the high quality of the platform technical side and the robust business goals set by the management team but also various business insiders and investors at the conferences the IQeon team frequently visits.

Among the recent conferences and Blockchain forums visited by the project, representatives are London Blockchain Week 2018, Blockchain Conference in Thai, World Blockchain Summit, etc. As the result of active participation, YouTube bloggers and British Cryptonews channels conducted interviews where IQeon benefits and the plans for the future are highlighted. The platform also obtained new partners that are eager to place their apps and games in the IQeon ecosystem.

January 30, 2018, the main tokens offer started and it lasts until March 13, 2018. The Token Sale will be based on the Ethereum platform and IQeon tokens can be purchased via Bitcoin, Ethereum or Litecoin.

The schedule of bonuses introduced differs depending on what week of ICO you would like to invest in IQeon startup. It means that if you make up your mind to buy IQN earlier, the bonus is bigger.

Don’t miss your chance and become one of IQeon early investors. To get more details, please, visit IQeon official website.

Tartu mnt 83-205, Tallinn,
Estonia, Harju maakond,
10115
marketing@iqeon.io

support@iqeon.io
https://iqeon.io

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 10/02/18

Bitcoin Cash Looking to Break $1,400

Bitcoin Cash enjoyed a week in positive territory, gaining 13% from Monday’s opening $1,157.2, though the gains masked events through the first half of the week, which saw Bitcoin Cash slump to a Tuesday low $758.61.

Bitcoin Cash and its peers initially responded to news on Tuesday that China’s central bank, the PBoC, was about to ban the trading of cryptocurrencies both onshore and offshore. The news hit the wires ahead of a heavily anticipated cryptocurrency Senate hearing that had the Chairman of the SEC and CFTC giving testimony.

With both Chairmen calling for a measured approach to the cryptomarket and the news from China being called fake news by the PBoC itself, there was certainly some relief in the market.

Bitcoin Cash rallied 72.42% from Tuesday’s low to Friday’s close, with the second half of the week seeing very little by way of regulatory chatter to rock the cryptomarkets for a 2nd time.

Friday’s 2.31% gain may not have been spectacular, nor the week’s gains, but for the cryptomarkets, there seems to be a growing concern in certain jurisdictions of losing the entrepreneurialship associated with blockchain start-ups, the U.S being one jurisdiction in particular and that can only be good news.

Such sentiment from the Chairman of the SEC, which was also shared by some up and coming Democratic candidates, one of whom is accepting Bitcoin for campaign donations, is all a step in the right direction for the cryptomarket and its future.

With cryptocurrency investors in better spirits going into the weekend, Bitcoin Cash was up 3.65% to $1347.4 at the time of writing, with the traditional weekend rally looking set to kick off.

Whether the rally fizzles out remains to be seen, but if Bitcoin Cash can make a move through to $1,400 levels, it will be likely draw in new and old money.

As always, there is an ongoing risk that regulators may spoil the party, which will likely result in a more orderly move through the weekend for Bitcoin Cash and the majority of the cryptos.

BCH/USD 10/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Trails after a Solid Week

Litecoin certainly enjoyed a strong recovery through the week, gaining 14.09% to Friday’s $168.3 close, with Friday’s 12.88% rise a strong statement, when compared with Bitcoin Cash’s 2.31% gain on the day.

A move through to $160 levels doesn’t yet support those projecting Litecoin to rally to $400 levels, but it’s certainly a step in the right direction

Another positive for the Litecoin team is the daylight now between Litecoin and Stellar Lumens in the rankings, with Litecoin’s market cap rising to $9.16bn, Lumen’s sitting at $8.12bn at the time of writing.

There’s plenty of hype over Litecoin’s Litepay platform, with many considering this to be the first platform to really give fiat money a run for its money. If it delivers, $400 could turn out to be a low ball forecast, though don’t expect Litecoin to jump to these levels on the day of release. Investors will need to assess its acceptance in the market place, though the speculative investor will no doubt jump in regardless.

LTC/USD 10/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Makes a Splash and Breaks $1.00

A sheepish first half of the day turned out to be a tear for Ripple’s XRP, which recovered from a Friday low $0.724 to close out the day at $0.98518, a 26% gain for the day.

It was the best of the three performance wise for the week and for the day, with Ripple ending the week up 20.97%, which included a 72% rally from Tuesday’s $0.57294 low to Frida’s close.

Amongst the cryptocurrencies, Ripple’s platform has certainly main inroads into the mainstream, having been adopted by numerous financial institutions, facilitating cross border payments. As the platform becomes more widely accepted, Ripple’s XRP will likely reflect the successes of both the platform and the Ripple team’s ability to roll out the product to market.

Following strong gains last week, the weekend has started kindly, with Ripple up 9.59% to $1.00845 at the time of writing, with only Stellar Lumens anywhere near amongst the majors, Lumens up 8.18% to $0.42.

A weekend rally looks on the cards and Ripple has arrived to the party early. The milestone will be for the cryptos to hold onto the gains through to Monday’s open.

XRP/USD 10/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

 

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 09/02/18

Bitcoin Cash Positioned Nicely

It was a great day for Bitcoin Cash on Thursday, with Bitcoin Cash hitting an intraday high $1,359, before easing back to $1,215 by the close to log a 27.24% gain for the day.

It’s been a week of highs and lows, with Bitcoin Cash having stumbled to an intraweek low $758.61 on Tuesday. That’s a 79.14% rally from trough to peak and just in a couple of days and at a time when the global equity markets have moved into correction territory, with more than $5tn having walked out the door in a matter of days.

There had been some talk of the cryptomarkets tracking the equity markets, but as with the comparisons to gold, correlations have been largely coincidental and Thursday’s moves were more of negative than a positive correlation.

Cryptocurrency investors will be feeling somewhat more satisfied as things stand, with Bitcoin Cash in positive territory for the week.

At the time of writing, Bitcoin Cash was down 3.39% to $1,235.1, pulling back from a run to $1,300 levels, with the crypto expected to face stern resistance at $1,300.

For the day ahead, we can expect some volatility, though a move through $1,300 levels ahead of the weekend could provide some optimism over the weekend that tends to favour the cryptos.

While regulatory noise has been on the lighter side in the 2nd half of the week, the latest news to hit the wires was of the HK SFC sending letters to a number of crypto exchanges, advising them of the appropriate classification of certain tokens on offer. Other action has also been taken against some ICO organizers, with the HK SFC the latest regulator to take greater interest in the cryptomarket.

The news was not too damming for the market however, with some regulatory oversight now widely expected and, to a certain degree, accepted.

BCH/USD 09/02/2018 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Going Sideways

A few weeks ago, sideways would have ultimately met with an untimely slide, but not these days…

Litecoin gained 5.44% on Thursday to end the day at $145.3, moving within relatively tight ranges through the day as the cryptomarkets continued to recover from the first half of the week woes.

With the cryptomarkets in the red through the early part of this morning, a degree of profit taking is to be expected, following the week’s recovery that has seen Litecoin rally 53.5% from Tuesday’s low $104.24 to Thursday’s $160 high.

At the time of writing, Litecoin was down 3.01% to $144.52, with Litecoin likely to find support at $140 through the morning, though a failure to break through to $150 levels could lead to a bearish trend this afternoon.

LTC/USD 09/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Looking Sheepish

Ripple managed to outmanoeuvre Litecoin on Thursday, gaining 5.89% to end the day at $0.75692, with a broad based recovery providing support to the cryptomarkets.

It was a relatively choppy day however, with news of Ripple’s platform finding new buyers doing little to spur a Ripple rally through to Wednesday’s highs and beyond.

The lack of market response to real world news continues to reflect the caution amongst cryptocurrency investors and, while sentiment has improved, the uncertainty remains for now.

At the time of writing, Ripple was down 5.2% to $0.7403, sitting well below this morning’s intraday high $0.7905, with a move through to $0.80 levels needed to fuel a more meaningful weekend rally and avoid a pull back before the end of the day.

XRP/USD 09/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 08/02/18

Bitcoin Cash in Positive Territory

It’s been a rampant middle part of the week for cryptocurrencies, with Bitcoin Cash rallying 27.6% from Tuesday’s $758.61 low for the week to Wednesday’s $967.86 close.

While investors continue to tread carefully following the volatility of the last few weeks, the money has come pouring back into the market, with Bitcoin Cash’s market cap rebounding from Tuesday’s $15.1bn to $17.18bn at the time of writing.

The level of support that the cryptomarket has received in the wake of the latest flurry of regulatory news is a remarkable one, with the cryptomarket’s total market cap rising to $386.04bn, having sat languishing at $276.82bn on Tuesday.

The bullish talk has returned and it appears that Central Banks and governments can do little to deter the speculative investor looking for a quick buck, with volumes on the rise through the week, having been on the lower side over the last 2-weeks.

At the time of writing, Bitcoin Cash is up 5.07% to $1,003.5, having hit an intraday high $1,023.6 early this morning, with the $1,000 handle a key milestone in Bitcoin Cash’s recovery.

We can expect the volatility to persist, but cryptomarket conditions have seen some improvement from Tuesday’s woes, the only question now being whether it can last, with a break through to $1,050 levels needed to support at $1,000 plus levels through the day.

BCH/USD 08/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Recovers from Wednesday’s Loss

Litecoin struggled to keep the pace going through to the close on Wednesday, ending the day down 1.82% as investors locked in profits from earlier in the day, with Litecoin having hit an intraday high $160.00

At the time of writing, Litecoin has been on an upward trend, gaining 4.98% to $144.66, with investor money returning to the table, albeit cautiously.

The market volatility is certainly not going to ease off any time soon, with the constant threat from regulators and governments lingering in the background.

For Litecoin investors, the good news for now is that it’s sitting well above this week’s intraweek low $103.65, a gain of 39.6% to its current value.

The rest of the day will likely be a choppy one, as investors continue to chop and change, looking for the next opportunity, though we will expect Litecoin to continue finding support, with at least the SEC and the CFTC proposing a ‘do no harm’ approach to the market.

LitePay’s launch remains a key milestone for the Litecoin team that should provide further support, though investors will be at the mercy of the news wires, as has been the case through much of this year.

LTC/USD 08/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Looking to Make a Move

Ripple had a poor day on Wednesday, falling 5% to $0.7186, with an intraday high $0.81 seeing investors lock in profits, as Ripple rallied 41.4% from Tuesday’s low.

At the time of writing, Ripple is up 4.76% to $0.749, with a move through to $0.80 levels needed to draw in investors, as other cryptocurrencies see stronger gains through the early part of the day, led by Stellar Lumen, which was up more than 8% at the time of writing.

With Bitcoin Cash, Litecoin and Ripple trailing the pack, things could get nasty for the trio should investors rotate into the altcoins, with even Bitcoin up 6.21% to $8,000 levels at the time of writing.

XRP/USD 08/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

 

The Cryptomarket Pauses for Breath after $540bn Walks Out the Door

Cryptomarket conditions improved through the second half of Tuesday, with Bitcoin recovering from a $5,920.72 intraday low to close out the day up 9.96% to $7,754.

There may have been some investors somewhat horrified at the sight of Bitcoin languishing at sub-$6,000 levels, with its market cap down at $102.69bn, levels that Ripple had enjoyed just a month ago.

Sub-$6,000 was clearly an attractive level for investors sidelined amidst the sell-off, driven by uncertainty over the regulatory landscape, both today and looking ahead to the future.

Regulators are almost frothing at the mouth, almost desperate to bring down the cryptomarket that pales into insignificance when compared with the money that’s swimming around in the global financial markets.

For now, Bitcoin and the altcoins have resurfaced for air, with relief flooding the cryptomarket, though few will know what lies ahead and whether Tuesday afternoon marked the end of a bloodbath that coincided with the global equity market sell-off.

To put it into perspective, while the total cryptomarket cap fell from $829.41bn to 2018 low $282.4bn, as $547bn walked out the door from the first week of January to Tuesday morning, the global equity markets saw a reported $4tn wiped out over just the last 8-days.

As the dust settles, there will be plenty of wounded thinking twice about jumping back into the cryptomarkets, particularly if the losses were funded with credit cards that have left the losers saddled with debts that may take some time to settle.

The good news is that, while the cryptomarkets have just shown what pain can be inflicted on dreamy investors, the harsh realities of investing in such volatile asset classes that provide little by way of a tangible products, will cause speculative investors to think twice before looking to drive prices up to levels seen in late December and early January.

As calls for the banning of ICO and cryptocurrency ads begin to gain traction, following Facebook’s decision to end a popular marketing platform for the market, there will be hopes that some of the fraudsters will stop duping investors and let the big boys deliver platforms that can take existing real-world technologies out of the dark ages.

None of this comes without teething pains however and the volatility seen in the last few weeks is unlikely to be the last of it.

Get Into Cryptocurrency Trading Today

For the morning session, there’s still plenty of red across the crypto-board, with Bitcoin down 0.37% to $7,709 at the time of writing, but the losses are certainly less than the slides seen at the start of the week and the tighter ranges through the morning will be well received.

Bitcoin’s moved between an intraday low $7,213.8 and an intraday high $7,862.27 this morning, with the lows hit at the start of the day.

While things are looking a little more bullish for Bitcoin this morning, there’s still a lot that can go wrong for the cryptomarkets, with regulators and governments ready to pounce on any adverse news from the markets. Beware of fraudsters, they can not only dupe investors out of $1,000s but can also have a material impact on the broader market.

The beacon of light this morning across the major cryptocurrencies? Litecoin and Lumen Stellar, the pair is up 1.56% and 5.41% respectively, with the upside driven by sentiment towards the respective blockchain technologies that are expected to perform in the real world and not just in concept.

Buy & Sell Cryptocurrency Instantly

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 07/02/18

Bitcoin Cash Struggles on

There was some good news for cryptocurrency investors on Tuesday, with the rumble and tumble of Monday and early Tuesday coming to an end, Bitcoin Cash managing to gain 6.97% to end the day at $947.

It was looking a little dire for Bitcoin Cash and the markets through Tuesday morning, with Bitcoin Cash having hit an intraday low 758.61, but holding off a move towards $600 levels was certainly a positive for Bitcoin Cash investors.

While concerns over the regulator landscape continue to impact the cryptomarkets, SEC and CFTC testimony to the Senate was relatively positive for the cryptocurrencies, though the soft stance certainly does not remove the prospects of a material shift in U.S oversight, which will be a negative, particularly if there is any control over the jurisdictions in which U.S investors are permitted to trade.

Interestingly, following Facebook’s decision to ban Initial Coin Offering ads, news has hit the wires of Canadian regulators and law enforcement agencies, including the FBI, calling on Google to ban ICOs ads and more, which would certainly be another blow for the ICO market that has enjoyed the world of social media to drive expansion and appetite for the cryptos.

At the time of writing, Bitcoin Cash was down 5.54% to $911.08, having eased back from an intraday high $970.63, with Bitcoin Cash having some wiggle room at current levels, the first major resistance level sitting at $1,040 and the first support level sitting at $861.80

For the day ahead, any upside will be limited as uncertainty over what lies ahead continues to influence, which suggests that the path of least resistance is down for now.

BCH/USD 07/02/18 Hourly Chart

Get Into Bitcoin Cash Trading Today

Litecoin Doing Better than the Rest

Litecoin enjoyed a solid second half of the day on Tuesday, recovering from an intraday low $103.65 to end the day up 12.1% to $140.1.

There was certainly a shift in sentiment through the second half of the day, with market tension easing following the updated reports on the testimonies from SEC and CFTC Chairmen on the cryptomarkets.

For Litecoin investors, the chatter of Litecoin reaching the dizzying heights of $400 has returned, with the projection supported by the roll out of LitePay that is expected this week.

Investors will likely consider the LitePay platform to be the first viable alternative to fiat currency payment systems and, the cryptomarkets will finally see what kind of impact such a platform can have on the value of the cryptocurrency itself.

Bitcoin may have delivered the first platform, but transaction speeds and fees have left the platform struggling for new business and retail customers.

At the time of writing, Litecoin is down 2.3% to $138.24, recovering from an intraday low $130.6, with the outlook certainly looking positive for the Litecoin team.

LTC/USD 07/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly

Ripple Recovers, But Pressure Remains

Following Monday’s 15.7% slide, Ripple managed to gain 8.28% on Tuesday to end the day at $0.74045, though Ripple looks to be a long way off pulling back to $1.00 levels.

Ripple slid to an intraday low $0.5729 on Tuesday before managing to bounce back and, while sentiment across the cryptomarket has improved, plenty of concerns remain over how the landscape will look in the coming months.

While the banning of ICO ads on Facebook and calls for bans to be imposed on Google are considered negative for the markets, it may ultimately favour the likes of Ripple and Litecoin who have or are about to have platforms out in the real world. Neither can be considered speculative from a product perspective, though success will be key and for now Ripple has far more successes than its peers.

At the time of writing, Ripple was down 3.5% to $0.73116 and, while Ripple continues to struggle, the longer term outlook remains positive for Ripple investors and the team.

XRP/USD 07/02/18 Hourly Chart

Buy & Sell Cryptocurrency Instantly