Bitcoin Cash, Litecoin and Ripple Daily Analysis – 19/01/18

Bitcoin Cash Stabilizes

The market panic looks to have passed for now, with the cryptocurrencies showing once more that unlike bubbles, the cryptomarket is not yet ready to burst.

Thursday marked the day when the cryptomarkets made a return to normality, though some performed better than others.

For Bitcoin Cash, Thursday was largely a lateral move, gaining just 1.38% to end the day at $1,759.4, far less impressive than the relief rallies that crypto investors had enjoyed before the governments decided to flex their muscles and scare off the more novice investor.

At the time of writing, it’s a positive start to the day however, with Bitcoin Cash up 5.34% to 1,775.5 from today’s $1,685.1 open.

Shaken investors will be looking for a move back through to $2,000 levels before looking to make a return, though with uncertainty continuing to plague the markets, such a move will likely face stern resistance.

A lack of government and regulator chatter will ease some of the anxiety going into the weekend, which could be a positive for the Bitcoin Clan.

BCH/USD 19/01/18 Hourly Chart

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Litecoin Finds its Feet

Litecoin managed to close out the day in positive territory on Thursday, ending the day up at $199.05, just below an intraday high $200, which would have certainly eased some of the market angst ahead of the weekend.

Bitcoin’s competition has lagged behind its peers through the recovery and, while making a slow and steady move northwards, is certainly not trailblazing.

It’s particularly interesting to see Litecoin’s performance since founder Charlie Lee sold his holdings in the interest of transparency, which came back to haunt him as accusations of insider trading began to hit the wires.

Unlike Ripple’s rally in response to the team placing their Ripple coins in escrow, Litecoin has seen heavy declines, with any hopes of a move to $400 levels certainly dashed for now.

For the day ahead, Litecoin will need to break through to $200 levels to avoid falling back towards sub-$180 levels, though we will expect support to kick in at today’s low of $188.

LTC/USD 19/01/18 Hourly Chart

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Ripple Impresses in its Recover

While many of the cryptocurrencies have made modest gains in the 2nd half of the week recovery, Ripple’s recovery has certainly more spectacular, rallying 82% from this week’s $0.898 low to Thursday’s $1.637 close.

The gains through the second half of the week will have certainly caught the attention of investors looking and willing to get back on the crypto bandwagon.

At the time of writing, Ripple was up 4% to $1.0606, recovering from an intraday low $1.4693.

For the day ahead, Ripple will need to make a move sooner rather than later and a move through to $1.07 levels would certainly draw in the bulls going into the weekend.

There’s a long way to go for Ripple to move back to the $3.5 level highs enjoyed at the start of the year, but as the markets and investors get used to the idea of greater cryptocurrency oversight, the likes of Ripple are likely to benefit the most and with it would come a wave of investor money that will likely be stickier than the money that just walked out the door.

XRP/USD 19/01/18 Hourly Chart

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Rebound in Cryptocurrencies Prices Early Today, Ripple Surges over 50%

Traders are debating the significance of the volatility in cryptocurrencies and fast conditions are expected to continue.

Debate Continues on Cryptocurrency Volatility, Wild Day of Trading Yesterday

Short term traders within cryptocurrencies had their courage tested yesterday as a whirlwind of pressure on the major coins created large declines, some stability and then a rise in values. Debates are raging on social media regarding the significance of the drops experienced by Bitcoin and other cryptocurrencies. Some cryptocurrency evangelists are calling for traders to buy on dips, while others ask sarcastically which dips they are referring to. One thing is for certain, volatility will continue.

Bitcoin Hovering Near 11,000 U.S Dollars, Speculators Looking at Pivot Point

While it is tempting to speak about the market swings seen in Ethereum, Ripple and other cryptocurrencies yesterday, the wild ride in Bitcoin stands out. Bitcoin dropped to a low water mark of nearly 9,300 U.S Dollars but then saw a surge upwards which took it above 11,000. Bitcoin has range traded this morning and it is near the 11,200 juncture. Short term traders should keep their eyes on the 12,000 U.S Dollar mark as a potential pivot point for speculators. Ripple is the star of the day so far with an increase of 50%, trading at $1.50.

Bitcoin 1H Chart
Bitcoin 1H Chart

South Korea Considerations Raise Worries Again

News has developed in South Korea again, as the nation considers a closure of cryptocurrency exchanges. This is important because South Korea possesses many traders. However some analysts point out, if South Korea were to shutter its exchanges, people holding cryptocurrencies would be able to transfer their balances to exchanges outside the country because of blockchain’s capabilities.

Bitcoin and Blockchain Conference the Philippines on the Calendar

A Blockchain and Bitcoin Conference will be held in Manila starting on January the 25th.

  • 25, Philippines, Blockchain, and Bitcoin Conference in Manila

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

Cryptomarkets under Pressure Again

Bitcoin managed to close out the day in positive territory on Wednesday, despite falling to a day low $9,199.59, hitting sub-$10,000 levels for the first time since the beginning of December. The new low raised more alarm bells across the cryptocurrency markets as regulatory noise continued to ring in the ears of the investors through much of the day.

Despite the negative sentiment, the day ended on a positive note however, which may have brought hopes of a better day today for the markets, which have been reeling through the week.

There was plenty of support from Bitcoin miners on Wednesday, with hashrate divergence favouring Bitcoin, in spite of Bitcoin Cash having a better day performance wise. Bitcoin’s average hashrate stood at 19.421E on Wednesday, up from the previous days17.0245E. In contrast Bitcoin Cash saw its average hashrate fall from 2.1298E to 1.7819E on Wednesday, suggesting that miners have yet to buy into a future without Bitcoin.

Wednesday also saw the expiry of the first Bitcoin futures contract and, while the futures markets were likely anticipating a solid entrance into the cryptocurrency market, it turned out to be quite the opposite.

The February contract settled at $11,055, down 26.3% from December’s opening $15,000, with the first of the futures contracts having pinned Bitcoin back from any customary rallies following the December launch.

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At the time of writing, Bitcoin is down 3.19% to $10,833.89, sitting just above an intraday low $10,693, while easing back from an intraday high $11,823.56 hit in the early hours of this morning.

Bitcoin Cash has also struggled this morning, down 1.69% to $1,712, giving up strong gains from earlier in the day, with Ripple being the only major crypto sitting in positive territory at the time of writing, up 1.51% to $1.32248, though Ripple had managed to splash through to $1.5 levels in the early hours.

The cryptomarkets may feel that there is a way around a possible closure of exchanges in South Korea, with the use of VPNs masking IP addresses, but the reality remains that Bitcoin trading will be just that little bit more elusive than currently, with investors who had recently entered the market and got burned unlikely to return any time soon. Well, not until there is one of the legendary crypto rallies to restore confidence in the markets.

Interestingly, the Asian markets seem to have had a greater appetite for the cryptos at present, in spite of the threat of exchange closure on its doorstep, with the cryptos seeing gains made through the Asian session fade.

For the day ahead, government chatter will need to be monitored, with the negative sentiment unlikely to ease off anytime soon.

The good news for Bitcoin is that the smart money has yet to suggest another crash, with the Cboe’s February futures contract sitting at $11,160, up $340 on the day. Bitcoin investors won’t be able to blame the futures market today and, as we have seen since the launch, the futures market can hinder the cryptomarkets, but for now seem unable to bring the investors back to the table.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 18/01/18

Bitcoin Cash in Recovery Mode

Bitcoin Cash wasn’t alone in having a choppy day on Wednesday, falling to a low $1,343 before recovering to a $1,736 by the end of the day, a gain of 1.06%.

Bitcoin and Bitcoin Gold also managed to make minor gains through the day on Wednesday, restoring some confidence in the markets.

While the threat of the South Korean government shutting down the cryptocurrency exchanges continues to weigh on investor sentiment, a number of the cryptocurrencies appear to have stabilized this morning, with Bitcoin Cash up 2.91% to $1,792 at the time if writing. Bitcoin Gold has fared better in the early part of the day, up 5.39% to $195.49, while Bitcoin hovers around the $11,000 market, up 0.89% to $11,290.45.

When considering the fact that Bitcoin Cash has fallen more than 50% from its all-time high $4104.3, the recent slump has provided those that missed the December rally with a chance to get on the cryptocurrency bandwagon, though this time around it’s going to be a far bumpier ride, with close to $200bn of investor money having walked out of the door this week alone.

The market panic may have abated over the possible impact of the South Korean government shutting down the cryptocurrency exchanges, with investors expected to find ways to circumvent any ban.

Of greater concern for the markets will be a global task force, but such an eventuality is likely to be someway off, if it’s even feasible for governments to coordinate.

For the day ahead, Bitcoin Cash will need to break through to $2,000 levels to further restore confidence and bring investors back to the table, with the recent losses not being the first time that Bitcoin Cash and the rest have tanked.

BCH/USD 18/01/18 Hourly Chart

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Litecoin Struggles On

While the Bitcoin Clan and Ripple begin to dust themselves off from this week’s sell-off, Litecoin continues to struggle for direction, with investors looking elsewhere for buying opportunities.

At the time of writing, Litecoin was down 1.64% to $185.90, with Litecoin among the cryptocurrencies that failed to end the day in positive territory on Wednesday

If December is anything to go by, Litecoin could be stuck in its current ranges for some time, with other cryptocurrencies likely to find their feet far sooner.

For the day ahead, Litecoin will need to move through to $190 levels to have a chance of breaking back through to $200, with today’s high $198 looking to be out of reach at the time of writing, with the crypto likely to face plenty of resistance through the afternoon.

LTC/USD 18/01/18 Hourly Chart

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Ripple Makes a Splash

What a difference a day makes.

At the time of writing, Ripple is up 8.43% to 1.42255, leading the pack on its road back to health.

There’s a long way to go, but as is the case with the Bitcoin clan, the acceptance of both blockchain technologies by the mainstream has provided strong support as the markets recover from this week’s sell-off.

Not too dissimilar to the bubble, the cryptocurrencies that are most likely to perform are those that have a relevance in the real world and are not just a dream of something greater. Tangibility is key for now and Ripple is certainly tangible.

Having recovered to $1.4 levels, a move back through to $1.5 levels hit earlier in the day will be needed to fuel the rally and avoid investors locking in gains for the day.

While there will likely be plenty of support at sub-$1.4 levels, a fall back down towards $1.35 could see Ripple give up gains on the day and ease back to $1.2 levels by the close.

The markets will need to be wary of any regulatory chatter, though investors seem to be confidence that the virtual world will be able to circumvent the real world.

XRP/USD 18/01/18 Hourly Chart

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Nervous Trend Gaining Momentum in Bitcoin

While many of the cryptocurrencies have stabilized, their dramatic trading emphasizes the volatility in the market.

Cryptocurrencies Plunge on Tuesday, Euphoria Appears to be Fading

Cryptocurrencies plunged dramatically across the board on Tuesday. Bitcoin led the selling as its bearish trend turns ugly. While many of the cryptocurrencies were able to stabilize after the tumultuous day of trading, many remain well under their highs as euphoria seemingly fades. Storm clouds regarding potential regulations on cryptocurrencies continue to affect sentiment.

Bitcoin Selling Pressure Grows, Important Psychological Level Approaching

The price of Bitcoin is trading precariously near the 10,000.00 U.S Dollars per coin juncture. And there appears to be resistance building around the 12,000 U.S Dollars level for the cryptocurrency. The 10,000 Dollar mark could prove to be an important psychological crossroad for Bitcoin. If downside pressure mounts, speculative elements which began buying into Bitcoin in earnest around 8,000.00 Dollars may grow increasingly nervous with their long positions. Volatility will obviously continue for Bitcoin in the coming days.

Bitcoin 4H Chart
Bitcoin 4H Chart

BitConnect Closes in Wake of Criticism

BitConnect closed its cryptocurrency exchange yesterday, as it came under scrutiny not only from the Security and Exchange Commission in the U.S regarding an Initial Coin Offering but also in the wake of critical articles written about the business. The closing of the exchange should serve as a reminder to traders, to make sure they conduct due diligence before choosing a cryptocurrency exchange.

Dubai FinTech Conference Organized by the World Finance Council

A FinTech conference will be held in Dubai from January the 24th until the 25th, which will include important panel discussions.

  • 24-25, UAE, FinTech Dubai Conference and Exhibition

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

6 Reasons Why Cryptocurrencies will Go Mainstream in the Upcoming Year

Five years ago, cryptocurrency was only known by tech geeks and cyberpunks. Little wonder when trading exploded the Exchanges cannot cope – their infrastructure was not built for this level of demand. The demand which even sees accounts on sale on eBay because it takes so long for an Exchange to open a new account!

Even at the height of the dot-com boom, when my book, Trading Online, was outselling Harry Potter on Amazon for a while, have we not seen this kind of craziness.

The naysayers sound just like those who told me in 2000 that Amazon, Apple and other tech companies were a bubble. Some wait for bubbles in their own echo chambers.

Cryptocurrency and in particular blockchain came to protect the most critical mania in our lives – which are records in a database. Think about it: our bank accounts, cars, lands, names, rights, marriages and court cases – all of these are documentation in some database. Right now, we have an authority looking after this database. “But can we trust this authority?” The answer to this question is creating the trend in the decentralized world.

So what will make it go truly mainstream in the next 12 months?

Entrepreneurs Role in making Cryptocurrencies Mainstream

Cryptocurrency hype attracted a lot of entrepreneurs interested in disrupting large industries using the blockchain technology. They are disturbing important sectors with blockchain start-ups. For example; “Sia” is looking to upset companies like “Amazon (AWS)” and “Dropbox.” Level 39, the Fintech hub in London is awash with blockchain companies, as is Cocoon the incubator, with companies such as World Wide Generation looking using blockchain to help achieve the United Nations Millennium Goals.

Ease of Buying and Selling & CFDs, Spreadbets

As brokers such as 24option make it ever easier to almost immediately open an account and start buying and selling crypto CFDs, so you will see an exponential rise in the mainstream interest. Spreadbetting and CFD trading are already mainstream. Indeed, in the UK it was over a decade ago that CFD and spread betting trading accounted for more private investor trading than that in the underlying shares on which the trades are based.

So too with cryptos. In 2018, it will be easier to trade these quickly, instantly, from opening accounts to the simplicity of buying and selling thanks to brokers such as 24option which is much easier to trade through that slow, clunky exchanges.

Tokens are Spendable in the Real World

A company like “TenX” is solving the biggest problem in the cryptocurrency world which is spending tokens in the real world. Tenx has a mobile app that serves as a wallet and a decentralized fee free exchange. Tenx took it further and added a debit/credit card functionality to let anyone withdraw and spend their currency as if it were a fiat currency.

Bitcoin Futures & ETFs

As a futures trader in commodities, a market developed over 100 years ago, I am well aware that the futures market is the tail that wags the dog. It is the future market which does more volume than the underlying asset. As brokers offer CFDs, spread bets and traditional exchanges offer Bitcoin futures contracts, the volume will spiral. Just wait. History repeats itself. And when index trackers (Exchange Traded Funds) are finally approved the volume of money thanks to accessibility and long-term passive investors will be a financial avalanche. You will be investing in Cryptos via your pension fund managers selections without even knowing it, just as today you do not realize you own a bit of Amazon in your pension. Bitcoin and other cryptos ETF’s will also be a major increase in volume and the public interest.

Small Businesses are Adopting Cryptocurrencies

Blockchain favors both start-ups and small businesses, not just the big players. Blockchain has eliminated the need for insurers and lawyers for business registration, thus empowering start-ups to compete with massive companies. SMEs are also set to benefit. Considering the level at which blockchain has developed and continued to grow, other businesses will soon start exploring it.

Blockchain ICO and Fundraising

Blockchain Credit cards are becoming more common. Banks are utilizing the technology, and more ICO funding mechanism are appearing strong as ever. The good news about ICOs is that most governments do not regulate them. The increasing number of fundraising mechanism is creating a new financial subculture. This exciting process will revolutionize the finance world.

Blockchain will explode into other industries

Blockchain will go beyond the finance industry and expand into the supply chain management and other sectors. For example, cryptoBnb has an app that matches homeowners with temporary tenants using big data and artificial intelligence. Boggie Shack music group is preparing to launch cryptocurrencies for music artists. Also, many traders are beginning to set up Bitcoin trading accounts.

Although cryptocurrency may not directly affect your business, it is a sharp depiction of what the future hold for the digital trends. Even if changes are not dramatic as believed, it is best to prepare for the potential that cryptocurrency hold. Don’t let the possibility of cryptocurrency take you by surprise as digital currencies go mainstream.

This article was written by Alpesh Patel, a hedge fund manager and Author of Trading Online (Financial Times). He is partner to 24option who offer CFD trading on Cryptocurrencies.

Bitcoin Cash in a Gravity Defying Move

Tuesday’s cryptocurrency slump has yet to be forgotten and the cryptocurrencies have certainly not looked like clawing back the losses, with Bitcoin sitting down 4.05% at $10,924.94 at the time of writing.

Alongside Bitcoin, Ethereum has fallen back to sub-$1,000 levels with an 8.34% decline through the early part of the day, with Ripple doing its best to stay above the psychological $1.00 level.

It’s not quite a bloodbath from a cryptocurrency perspective, but if sentiment doesn’t turn around soon, another drop could be on the horizon.

While the majors are in a slump, with Cryptonites across the world licking their wounds pondering on what’s next for the markets, there’s a beacon of light in the markets in the form of Bitcoin Cash.

Following Tuesday’s 18% decline, which wasn’t too bad considering some of the losses elsewhere, Bitcoin Cash has recovered from an intraday low $1,591.9 in the early hours of this morning to $1,768.2, marking a 3.23% gain at the time of writing.

While the gains not be considered significant when comparing it to historical moves across the cryptocurrencies through the latter part of 2017 and the first few days of this year, the divergence could become a significant moment in the Bitcoin Clan’s future and, more importantly show signs of which of the three will most likely progress to become the vision of Satoshi Nakamoto and become a realistic competitive alternative to fiat money.

It may be too early to call, but it’s certainly worth considering, particularly when the cryptomarkets continue to get bombarded with negative news, almost on an hourly basis.

Let’s face it, Bitcoin Cash has almost negligible transaction fees, while Bitcoin’s is material and that’s before considering block sizes and of course, transaction speeds.

Bitcoin transaction speeds alone make it an unviable alternative to fiat currency.

While there’s plenty of talk of regulation and the shutting down of exchanges, with BCC Token holders the latest victim of regulatory oversight, an alternative to fiat money will come in some shape or form and Bitcoin Cash may become the market’s choice and the decision may come sooner rather than later, with the market’s hand being forced by events through the first half of the week.

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A Bitcoin Cash move through to $2,000 levels would certainly cement Bitcoin Cash’s position over the near-term as a Bitcoin’s main rival, with Litecoin on the ropes.

The market’s will need to reconsider how it views Bitcoin however, which still seems to be the cryptomarket pet, in spite of all of its short comings.

Looking at the hashrates, Bitcoin miners may not yet be convinced of a paradigm shift in market preference between the two, with hashrate divergence favouring Bitcoin based on yesterday’s figures. Today’s figures may tell a different story however, though these will not be available until tomorrow.

The day ahead will more than likely see further volatility, with the only saving grace being that there’s unlikely to be any more regulatory chatter from Asian governments until tomorrow.

Bitcoin Futures haven’t thrown in the towel just yet, with February’s contract sitting at $11,320, though one wonders whether the markets will pay any attention with the key drivers coming from elsewhere.

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RepuX Ethereum Based Platform Can Solve SME’s Big Data Problem

Small and medium-sized enterprises (SMEs) having been facing a dark future, with falling margins stemming from rising borrowing and fixed costs and lengthier operating cycles being some of the issues that small and medium-sized companies have been facing of late. As the FED continues its path towards monetary policy normalization, the margins will only get tighter. Companies are in dire need of making efficiency gains elsewhere to offset the impact of narrowing margins.

RepuX is looking to address the issue faced by SME companies across the world. The blockchain platform will allow businesses to sell anonymised data for RepuX tokens and perhaps more importantly, provide a secure forum where SME’s are able to upload business statistics to enable developers to create necessary algorithms and introduce artificial intelligence systems that can provide the much-needed efficiency gains small to medium size companies need to be able to compete against the larger companies who have access to the necessary funding to keep such development capabilities in-house.

The basic concept is for SME’s, who are in need of technological upgrades, to upload their data safely, securely and anonymously on to the RepuX Ethereum-based data sharing platform.

Developers can then purchase the data from a particular company with RepuX tokens to develop the necessary customized programming and then sell the programming back to the SME.

RepuX will also have a rating mechanism in place to ensure that there are no reputational concerns for SMEs looking to take on a particular developer work.

There are certainly huge benefits to be made. It was more than a decade ago when Tesco supermarkets in the UK introduced a new vertical collaboration strategy to streamline the supply chain process using information technology. The introduction of Continuous Replenishment (“CR”) provided Tesco with the ability to submit stock orders intraday through a central batch processing unit that submitted the order at the moment an item was purchased in one of its stores. The CR program provided better inventory control and reduced stock holdings, not to mention the more efficient use of logistics and speedier sock replenishment. The technological advancements made a significant contribution to Tesco’s market share, rising from a lowly 13% to just below 30% since the introduction of the CR system and other advancements introduced to make efficiency gains to keep ahead of the competition.

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Such an enhancement for an SME would certainly be a game changer, with SME’s being offered access to IT resources through the RepuX Ethereum based platform that would normally only be available to large companies.

The access, use and redistribution of SME data through a secure platform will certainly provide support to SMEs, which are at the mercy of B2B, B2C and B2G verticals.

A shortening of the B2B invoice payment cycle alone will ease borrowing costs, not to mention enable SMEs to refocus on more technological strategies that will likely have a far greater impact on the bottom line, benefitting from the use of artificial intelligence and freeing up much-needed capital to fund marketing campaigns.

Tesco is certainly not an SME and did not benefit from the collaborative opportunities that RepuX provides. Such advancements can only be positive but will need to be embraced by both reputable developers and more prominent SMEs for the blockchain tech to be embraced.

For those interested in Repux and all that it has to offer, the Repux website has a wealth of information.

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 17/01/18

Bitcoin Cash Hot under the Collar

Tuesday’s moves in the cryptomarkets were certainly not one to remember, with Bitcoin Cash falling to an intraday low $1,511.6 late in the day before managing to recover to $1720.8 by the close, a 27.9% slump for the day.

Things have not been much better this morning, with Bitcoin Cash down 3.30% to $1,656.4 at the time of writing sitting just above its intraday low $1,591.9.

It’s certainly not looking good for the cryptos at the moment and for investors that had joined the party in the New Year, the cryptomarket hangover has kicked in. Negative sentiment towards government and regulator chatter has hit the markets and as the chatter builds and the markets begin to see signs of a coordinated global regulatory task force to oversee the cryptoexchanges and cryptocurrencies, things will go from bad to worse.

For now its chatter, but with the South Korean government persisting with the talk of possibly closing the cryptocurrency exchanges, others could well follow.

It’s certainly unwise to look at going into the market in these conditions, with uncertainty seeing volatility on the rise. More chatter could see heavier losses through the day. It will ultimately depend on whether the view is that this is a dip or a correction. If it’s the latter, then holding off is the wisest choice, if it’s a dip then getting in at any price around current levels is an attractive proposition.

A bullish move towards $1,750 could see a recovery build towards $2,000 levels, with any fall to sub-$1,550 likely to test support levels down through to sub-$1,400 on the day.

BCH/USD 17/01/18 Hourly Chart

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Litecoin Struggles Continue

Litecoin may have had a better day than Bitcoin Cash on Tuesday, falling by just 18% to $199.87 by the close, but with an intraday low $146.6, it certainly spells trouble for the Litecoin bulls.

The bad news may have been focused on Bitcoin of late, but the reality remains that Litecoin is at the mercy of its peers and if the exchanges are under threat, then Litecoin is also in the line of fire.

At the time of writing, Litecoin is down 5.65% to $180.34, sitting just above its intraday low $175.00. For Litecoin to avert a more serious sell-off through the day towards the $150 mark, a move back towards $190 levels will be needed to settle the jitters,

Whatever happens, the cryptomarkets are in for a choppy day.

LTC/USD 17/01/2018 Hourly Chart

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Ripple Falls Further Behind

What a difference a week makes.

Ripple slumped 30% on Tuesday, falling from $1.65 levels to $1.15 levels, with an intraday low $0.84987 also there to spook investors, with Ripple having held above $1.00 levels since the late December rally that culminated in an all-time high $3.30, hit on 4th January.

It’s been downhill ever since and, while the cryptoworld is trying to shake off Big Brother, the decision by Coinbase not to include Ripple on its exchange had started the Ripple reverse.

At the time of writing, Ripple is down 2.75% to $1.11656, with ripple managing to recover from an intraday low $0.96931.

The markets are no longer interested in what blockchain technology is on offer, with the declines broad based and certainly not selective.

Ripple will need to make a move back towards $1.20 levels to avoid a fall back to sub-$1.00 levels for a 2nd consecutive day, which would prove to be a little more challenging to recover from.

XRP/USD 17/01/18 Hourly Chart

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Strong Values for Euro, Pound and Yen Intact. Cryptocuerrencies are Crashing

Wall Street will open in record territory today after the long holiday weekend. The Nikkei Index has gained this morning, and Industrial data from Japan produced a solid gain per data released.

Wall Street to Open in Record Territory, Federal Reserve on Traders Lips

Wall Street will open in record territory as U.S investors return to work. The Empire State Manufacturing Index will be issued today. However, traders will still be talking about last week’s inflation data which was lackluster and increases the perception the U.S Federal Reserve may have to take a step back from their hawkish interest rate stance.

Crypto Prices Drop Sharply, Led by Ripple

Cryptocurrencies are trading sharply lower on Tuesday morning as investors react to the South Korean regulator’s threat. Currently, the crypto future seems uncertain in South Korea. Bitcoin dropped 11.85%, trading at $12,013, Ethereum down 15.93% at $1110 and Ripple is at $1.37, down 25%.

Industrial Activity Solid in Japan, Nikkei Index Produces Gains

Japan’s Tertiary Industrial Activity reading produced a solid gain of 1.1% this morning. The Nikkei Index has risen and has added more than 6 percent value the past month. The Yen remains strong against the U.S Dollar but has weakened slightly the past few hours. Japan will issue Core Machinery Orders statistics on Wednesday.

Key Inflation Numbers on Calendar, Sentiment under the Microscope

Important Consumer Confidence data will come from the U.K today, and tomorrow the European Union will release their own inflation figures. The Pound and Euro have maintained their gains against the U.S Dollar, and the next two days of trading for the currencies could prove important as forex sentiment is put under the microscope by investors.

Consolidated Day of Trading for Gold, Vital Resistance Being Tested

Gold has experienced a consolidated range the past day, but traders should be prepared for plenty of activity as U.S markets return to full power. The precious metal is near 1342.00 U.S Dollars an ounce and is touching vital resistance last seen this past September.

Inflation Numbers from Britain, New York Fed Manufacturing Data

The U.K will release its Consumer Price Index reading at 9:30 GMT and the results will have an impact on the Pound.

  • 9:30 AM GMT U.K, Consumer Price Index
  • 13:30 PM GMT U.S, Empire State Manufacturing Index

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

Bad News Grips Bitcoin and the Cryptomarkets

Bitcoin managed to move through to a Monday high $14,150.02 in what had been a positive first half of the day, before the slide returned, with Bitcoin ending the day down at $13,250, a 2.92% fall for the day.

While the day’s decline may not be significant in the world of cryptocurrencies, the bearish trend and the negative sentiment is perhaps of greater concern for Bitcoin investors.

While Bitcoin Futures have played their part in pinning back Bitcoin from any rallies this year, the latest pullback has less to do with the futures market and more to do with government and regulatory chatter.

Despite the South Korean government averting a cryptocurrency sell-off last week, there was more chatter on Monday, with calls for greater government oversight ultimately weighing on Bitcoin and the rest of the cryptomarkets.

Adding to the negative sentiment has been news coming out of China of the government being more interested in removing Bitcoin from the country altogether and not just the mining cartel.

A movement is afoot and it’s not a decentralized one that led to the exponential gains through 2017. Even France’s finance minister has jumped on the anti-crypto bandwagon calling for new regulations in the interest of clamping down on tax evasion and the funding of illegal activities.

While France may not be at the epicentre of cryptomania, a coordinated effort across the EU would certainly have an impact and if the EU can coordinate with the South Koreans and the U.S, then there really will be a problem for investors looking to retain their anonymity.

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At the time of writing, Bitcoin was down 7.95% to $12,525.03 and the negative news has taken the rest of the Bitcoin Clan with it, with Bitcoin Cash and Bitcoin Gold down 10.73% and 14.5% respectively.

Even Ethereum has been hit with the South Korean government’s talk, Ethereum down 9.37%, with the ICO market unable to prop up Ethereum in the midst of all the negative chatter.

It was only going to be a matter of time before governments and regulators stepped up the fight against money laundering and the funding of criminal activities, with 2017’s exponential gains raising multiple red flags from a regulatory perspective.

Bitcoin’s fall to mid-$12,000 levels has been a rapid one this morning, with the decline from $13,000 levels coming in just the last 30-minutes.

It’s certainly not looking bullish for the cryptomarkets and with talks of money laundering and theft adding to the negative sentiment, there are plenty of reasons for governments and regulators to begin taking a firm stance on exchanges and the anonymity offered.

Based on current trends, support levels are falling away and Bitcoin could be sitting at sub-$12,000 before the afternoon. The only real question the cryptomarkets will be asking is if this is the end.

To date, the cryptomarkets have found ways around government control and oversight, but the threat of a coordinated global effort is something that may be too much, even for the most evasive of exchanges.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 16/01/18

Bitcoin Cash in the Red with the Pack

Bitcoin Cash failed to make a move on Monday and has ultimately paid the price, with Bitcoin Cash down 5.82% to $2,246.1 at the time of writing, sitting well below a weekend high $2,884.

Sentiment across the cryptomarkets has turned sour and investors will be doing well to find a cryptocurrency that has managed to make any positive moves in the early part of the day.

An air of negativity remains, following last week’s decision by the South Korean government, with uncertainty over Bitcoin miners also a factor to consider, as more negative news hits the cryptowires.

News of hacking, money laundering and price manipulation over the last 24 hours have certainly not helped and with it will likely bring speculation and chatter from governments and regulators of a need for greater oversight.

Investors have clearly taken a more cautious approach and perhaps rightly so, with any announcement of a clamp down by governments and regulators likely to come without warning.

The trend is certainly looking bearish and with the general market on the slide, there’s unlikely to be much incentive for investors to take advantage of current values.

We will expect some support at sub-$2,000 levels, though whether Bitcoin Cash can hold will largely depend on what’s hitting the news wires through the day.

If the Bitcoin futures are anything to go by, today’s intraday low $2,148.3 will likely be revisited.

BCH/USD 16/01/18 Hourly Chart

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Litecoin in the Red with Nowhere to Go

Litecoin has had a better start to the day than most, down 2.97% to $225.6 at the time of writing.

While the gains may have been less severe than the likes of Bitcoin Cash and Ripple, the lack of direction has seen Litecoin fall from a weekend high that was well below its all time high, with Litecoin having struggled since hitting $300 levels in the 1st week.

Investors appear to have shied away from the blockchain tech on offer by the respective cryptocurrencies, with the declines coming more from the negative sentiment towards the cryptocurrencies than the likely success and failures of the respective platforms.

There has been a continued worry that investors have simply looked to hold on to cryptocurrencies for gains and the case is strengthening by the day.

We will expect Litecoin to find support at sub-$220 levels and, with the general trend bearish, will do well to recover to $230 levels later in the day.

LTC/USD 16/01/18 Hourly Chart

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Ripple Makes the wrong Waves

A bad start to the week got worse for Ripple investors, with the late Monday tumble to a $1.65544 close doing little to draw in bargain hunters.

At the time of writing, Ripple was down a further 4.8% to $1.5762 and, while it’s been sideways since, with Ripple recovering from an intraday low $1.41646, the negative sentiment surrounding the cryptocurrencies are unlikely to be of much help.

Ripple’s blockchain tech continues to be well received by the financial sector, but with investors having speculated on Ripple as an investment that had delivered exceptional returns in December and early January, questions will be asked on whether Ripple can make a run at the all-time high hit at the start of the year.

We would expect Ripple to have a better 2nd half of a day, but a move beyond $1.7 levels will be needed for Ripple to move back to $2.00 levels and it’s certainly looking unlikely at the time of writing.

XRP/USD 16/01/18 Hourly Chart

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 15/01/18

Bitcoin Cash Holding Steady Early On

The weekend Bitcoin rally came and went, with the lack of pressure from the futures market seeming to favour the Bitcoin clan over recent weekends.

Bitcoin Cash rallied to a weekend high $2,884 on Saturday before the sell-off ensued ahead of Monday’s open. At the time of writing, Bitcoin Cash is down just 0.58% to $2,505.5, with yet another attempt by Bitcoin Cash to break through to $3,000 for the first time since late December thwarted.

Following last week’s regulatory risk debacle, the markets look to still be licking their wounds and there is good cause to take a more cautious start to the week, with the chatter over the anonymity of the cryptomarkets beginning to build.

While Bitcoin Cash was in the red at the time of writing, the outlook for the day looks relatively positive, supported by Bitcoin’s minor gains in the early part of the day. How the futures markets behave will have an influence however, with Bitcoin Cash yet to deliver a killer blow to Bitcoin and take over the hashrates.

BCH/USD 15/01/2018 Hourly Chart

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Litecoin Rally Comes to an End

The markets seemed to have little interest to the negative news at the end of last week of Litecoin founder’s insider trading, with Litecoin rallying to a weekend high $268 in the early hours of Sunday morning.

The gains were short lived as was the case across many of the major cryptocurrencies, with Litecoin pulling back to $240.06 by the end of the weekend.

It’s been a pretty non-eventful start to the week, with Litecoin up just 0.13% to $238.19. For those looking for a move to the much talked about $400 levels, it’s looking slightly ominous, with interest in Litecoin having eased in recent weeks.

A failure to move back to $300 levels, since the first week of the year’s high, will be an issue and as the ICO market heats, Litecoin could find itself being left behind, particularly as new players enter the market.

While we will expect strong support at $235 levels, a move through $245 is needed for Litecoin to have a run at its weekend high and a possible move to $300 levels.

Today just may not be the day for it.

LTC/USD 15/01/2018 Hourly Chart

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Ripple on the Move

Ripple failed to enjoy the weekend gains seen across the Bitcoin clan and Litecoin over the weekend, with Ripple giving up highs coming off the back of the late Thursday, early Friday relief rally.

It’s been a better start to the week for Ripple however, with a gain of 2.55% to $1.8617 at the time of writing.

In spite of the gains, Ripple has struggled however and there’s a long way to go for Ripple to be able to recapture the number 2-spot, with Ethereum likely to get plenty of support with the ICO market getting ready for some major initial coin offerings, including Telegram’s planned $1.2bn fund raiser.

A break through to $1.90 levels should see Ripple move back to $1.20 levels, with Ripple likely to find plenty of support at sub-$1.80.

XRP/USD 15/01/2018 Hourly Chart

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South Korea U-Turn – The Cryptocurrency Winners

Following news hitting the cryptocurrency markets on Thursday morning of the South Korean government looking to ban cryptocurrency trading and shut down the exchanges, the cryptomarket went into sell-off mode.

The market response was somewhat surprising when considering the implications, South Korean cryptocurrency holders needing to sell their coins in a worse-case scenario or at best, deal with the uncertainty of a possible clamp down on being able to trade on exchanges beyond South Korea’s borders a major issue.

Bitcoin slumped to a low of $12,000 in the early part of the day on Thursday, which was not far off Thursday’s $13,057.48 close.

There’s likely to be some debate over the government’s handling of the situation, with the government distancing itself from the Ministry of Justice that had released the statement on introducing legislation to bring to an end cryptocurrency trading.

Interestingly, there had been reports of a petition being signed calling for the resignation of the head of the Ministry of Justice in response to its statement. Whether the Ministry of Strategy and Finance flinched at the prospect of voter backlash will never be known, but one thing comes to light from the events of yesterday and this morning.

While governments and central banks will have some influence on the availability and performance of cryptocurrencies, voters will certainly make their voice heard. South Koreans have been known to hit the streets in protest and a backlash over such a ban would have certainly been an embarrassing one for the government, particularly when considering the size of the cryptomarkets today.

Through early part of the day today, the recovery has not been as spectacular for Bitcoin as for some of the other cryptocurrencies on offer. The less than impressive gains this morning will likely be down to two key reasons:

  • Bitcoin trading volumes are less concentrated than other cryptocurrencies, with the threat of a South Korean ban on trading and the shutting down of exchanges in South Korea having less of an impact on Bitcoin demand and therefore price.
  • Investors will have gone elsewhere in the early part of today in search of the more sensitive cryptocurrencies, which would have been a simple task. The cryptocurrencies that tanked the most on the South Korean news would have also most likely seen the biggest upside in the event of a U-turn, which would have also eased appetite for Bitcoin and the Bitcoin clan.

Bitcoin has gained just 3.32% to $13,683.1 at the time of writing and, as has been the case since mid-December, the Futures market may well be to blame, with the January Cboe Bitcoin futures contract rising by just $360 to $13,680 at the time of writing.

It will be interesting to see how Bitcoin moves through the weekend, once the futures markets are closed, with Bitcoin currently sitting well below the start of the week $16,300 high.

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So, looking through the cryptomarket this morning, there have been some impressive returns for investors dipping their toes back into the market.

At the top end of the market cap table, Ripple has rallied 6.86% to 2.066 at the time of writing, recovering from a Thursday $1.514 low.

Going down the table, Stellar’s Lumen has been far more impressive, surging 21.6% through the early part of the day, with NXT and Binance’s BNB also impressing, with gains of 13.6% and 10.51% respectively.

While there have been some impressive gains, particularly amongst the more recently launched coins, a little more damage has been done to the cryptomarket and its image, with the fact that governments and central banks are able to have such an influence on the broader market being of particular concern.

Time will tell whether Bitcoin investors will regain the confidence to drive Bitcoin back towards $20,000, with the recent trends certainly suggesting that forecasts of $40,000 by the end of the year may have been a little too optimistic.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 12/01/18

Bitcoin Cash Breathes a Sigh of Relief

A particularly testing last 24 hours ended in relief, with the South Korean government bringing to an end the speculation through Thursday of a likely banning of cryptocurrency trading and closure of South Korea’s cryptocurrency exchanges.

In spite of the clarification given by the South Korean government, Bitcoin Cash saw relatively minor gains in the early part of the day and well below Thursday’s pre-South Korean tumble levels, which suggests that there is likely to be more upside through the weekend, once the futures markets are closed…

At the time of writing, Bitcoin Cash was up 3.42% to $2,515.2

With Bitcoin futures January contract gaining just $230 to $13,550, the Bitcoin clan has been pinned back, with Bitcoin up just 1.55% to $13.449.29.

The smart money is likely to be a little wary, following yesterday’s events in South Korea, with the regulatory issue now a major concern for investors in general. The dust will certainly need to settle before investors regain confidence in the market.

For the rest of the day, Bitcoin Cash will need to break through to $2,700 levels to make a run at $3,000 through the weekend, with strong support at $2,300 levels, which was tested on Thursday.

BCH/USD 12/01/2018 Hourly Chart

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Litecoin Languishes

Litecoin was left languishing not far off its 2018 lows, with the relief rally providing little to support through the early part of the day, in what should have been a far better start to the day.

At the time of writing, Litecoin was up 2.33% to $232.18, sitting well below Thursday’s opening $248.82, though the trend does look bullish with more gains likely to be on the cards through the middle part of the day.

Having recovered from an intraday low $220.2, Litecoin will need to break through to $240 levels to make a run towards the start of the week’s $270 levels, though when considering the downward trend through the week, there’s likely to be plenty of resistance at $240.

Recent news of Litecoin Founder Charlie Lee being accused of insider trading on Coinbase will certainly not help Litecoin’s cause. After all, where there is smoke there is fire.

LTC/USD 12/01/2018 Hourly Chart

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Ripple managed to recover to $2.00 levels this morning, following a choppy Thursday that saw Ripple hit an intraday high 2.29696 before coming back down to earth, with the negative sentiment towards the cryptomarkets hitting the majors.

At the time of writing, Ripple is up 3.91% to $2.005, easing back from an intraday high $2.1867.

With news hitting the wires of MoneyGram looking to use Ripple for money transfers, there’s even more evidence that Ripple’s technology is here to stay. For investors looking to own a piece of an ever growing pie, Ripple’s XRP is perhaps less of a speculative investment than some of the others that have yet to hit market.

Sitting well below its record highs, it’s a long road to recovery for Ripple, but with the South Korean government having cleared the uncertainty behind the future of the exchanges, Ripple’s greater acceptance across the exchanges will be key to Ripple regaining 2nd place and having a run at the top spot.

XRP/USD 12/01/2018 Hourly Chart

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Eastman Kodak Gets in the Crypto Game, Ripple Lost 50% of its Value Last Week

Eastman Kodak Company has received plenty of attention since its announcement regarding its planned launch of KodakCoin. Ripple XRP has lost nearly 50% in value last week.

Eastman Kodak Surges on Announcement, KodakCoin Sparks Interest

Eastman Kodak has continued to enjoy a surge in its share price. Kodak which has been a company for nearly 130 years has seen its value double since it has announced that it will issue a KodakCoin token in order to allow its clients to purchase its products. The value of Eastman Kodak was around 5.00 U.S per share before the announcement a few days ago, and it is now trading above 10.00 a share on the New York Stock Exchange.

Ripple in a Slugfest, Ripple Loses Fifty Percent Drop in Value Past Week

The price of Ripple remains under stress, after making a huge gain in December. The cryptocurrency which is listed as XRP has lost nearly 50% in value in one week’s time. Ripple is one of the top five cryptocurrencies in market value. Its core technology allows companies to make international transactions in an easier fashion. However, some analysts point out that the Ripple coin doesn’t have to be used in all of these transactions, which they claim could limit its overall appeal to traders. Ripple is around 1.76 U.S Dollars per coin today.

Ripple 4H Chart
Ripple 4H Chart

South Korea Clampdown Intensifies

The South Korean government this morning continued to come down hard on some aspects of cryptocurrency. The nation is said to be considering a ban on cryptocurrency exchanges until it can create an effective tax regulation policy.

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Yaron Mazor is a senior analyst at SuperTraderTV.

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South Korea Sinks the Cryptomarket

It’s been a rough ride for the cryptocurrencies at the turn of the year and it looks like it’s going to get a little tougher before there is any improvement in market conditions.

The major cryptocurrencies have seen heavy selling pressure through the morning and it’s all been down to the South Korean government, which has continued to plague the cryptocurrencies since the end of last year.

Going back to the rallies across the cryptocurrencies in December, much of the gains were attributed to the increased trading activity in South Korea. Both Ripple and Litecoin were beneficiaries, with the pair managing to break through to record high levels through much of the 2nd half of December.

Things have shifted at the turn of the year however and it’s come down to regulatory risk. If investors were of the view that the cryptomarkets were free and clear of government and central bank oversight, they have been clearly mistaken and, while certain governments have been embracing, others have not.

The market is in its infancy and there is no common ground amongst the G7 or G20 on how to handle cryptocurrencies, so it’s each to their own and the South Korean government is certainly not aligned with the Japanese government, when it comes to Asia.

Concerns over cyber-theft may well be the government’s motivation, with frequent reports of the North Korean government steeling cryptocurrencies a major concern, as the North looks to build its nuclear capabilities and ruffle the feathers of the South and the West.

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Looking at current valuations, there will be a temptation for investors to jump in and take advantage of the recent declines, with Bitcoin down at sub-$14,000 and Ripple sitting at $1.6476. The argument could be that if things were really that bad then Ethereum would have also followed up with a sizeable loss. The difference here is that Ethereum’s gains didn’t come in mid to late December, of the back of rising demand from South Korea. Ethereum’s gains came in spite of the initial reports of the South Korean government looking to clamp down on the cryptomarkets, which makes Ethereum less sensitive to the news.

How the cryptos will fare through the remainder of the day remains to be seen, but with Cboe Bitcoin futures down at $13,740 for January expiry and with Bitcoin currently down 7.09% to $13,835, there’s not much wriggle room for the crypto and the other majors to look to move ahead on.

We are unlikely to get any comments from the South Korean government that could shift sentiment through the rest of the day, with the raiding of exchanges and investigations into South Korean banks, not to mention the Justice Department’s intentions to introduce legislation to ban the trading of cryptocurrencies all quite dire for the markets.

Unless there is a U-turn, things are likely to go from bad to worse until the exchanges find a way to circumvent the system and provide the platforms in other jurisdictions, away from the purview of the South Korean government.

It’s testing times and investors will be hoping that the anti-cryptocurrency movement does not spread to other major crypto-centres. While there is no news of such a scenario, as we have seen with the South Korean government, the decision can be spontaneous and that’s never good for a market.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 11/01/18

Bitcoin Cash on the Slide

It’s a bad day for the Bitcoin Clan, with Bitcoin Cash down 12.74% to $2,494.9 at the time of writing, with Bitcoin and Bitcoin Gold having as bad a day with losses of 0.90% and 11.78% respectively.

Bitcoin Cash had seen a start of the day high of $2,950.7 as it looked to make a move back to $3,000 levels only to be thwarted by news hitting the wires of the South Korean government acting on its threats against the cryptocurrency exchanges, with Bithumb and Coinone having been raided by tax officials and the police.

To make matters worse, there was also news that the South Korean Justice Department was preparing to roll out legislation that would ultimately end in the closing down of South Korea’s cryptocurrency exchanges.

With regulators already investigating South Korean banks and their KYC and anti-money laundering policies, the banks linked to the cryptomarkets, it’s getting hot under the collar for the exchanges and the government is looking to just throw cold water of the country’s insatiable appetite for the cryptos.

The news wires will be the key driver through the day, though we will expect some of the market panic to subside, with Bitcoin Cash likely to find plenty of support at sub-$2,400 levels.

BCH/USD 11/01/2018 Hourly Chart

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Litecoin doing better than most

At the time of writing, Litecoin was down 6.6% to $232.4, with this morning’s decline far less material than its peers, with most of the cryptos seeing double digit declines in the early part of the day.

Regulatory risk has been the key driver at the turn of the year and the threats from the South Korean government have become something more real, as the country’s largest exchanges get raided.

The declines are yet to reflect an outright ban on cryptocurrency trading however, with most of December’s gains that saw Litecoin move from sub-$100 levels to today’s ranges largely attributed to a surge in South Korean appetite for the cryptocurrencies.

Litecoin will need to hold on to $230 levels to avoid the risk of falling back to sub-$200 levels, which haven’t been seen since a pre-Christmas sell-off.

It’s looking bearish, the only question being how much Litecoin is going to cough up before the close.

LTC/USD 11/01/2018 Hourly Chart

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Ripple Down and Almost Out

Things couldn’t get much worse for the Ripple team, with Ripple down another whopping 15.45% to $1.64863 at the time of writing.

Having grabbed the headlines for all the right reasons in late December, it’s for all the wrong reasons this week and Ripple may well become a cautionary tale to those looking to ride the cryptocurrency wave.

It’s been a double whammy for Ripple. Not only is there downward pressure on the markets, following news of the South Korean government looking to shut out cryptocurrency trading, but there’s also the Coinbase announcement that has crippled Ripple going into the New Year.

Perhaps there had been hopes of Coinbase including Ripple over the near-term, but with the recent slide and fall from grace, there will be less pressure on its inclusion, at least until the South Korean dust settles.

Ripple will need to hold on to $1.6 levels to avoid falling through to sub-$1.4 levels, with the only cryptocurrency seemingly able to handle the current pressure being Ethereum that is down just 0.56% to $1,240 at the time of writing.

One thing is for certain, Ripple is not the cryptocurrency safe haven and pressure will likely remain through the day, with any recovery from today’s tumble hinged on the new wires.

XRP/USD 11/01/2018 Hourly Chart

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Is that the end of the Great Ripple?

Following all the crypto-hype of December, things have certainly turned and the cryptomarkets are getting hammered through the early part of January, with the current week declines being particularly telling of market sentiment towards the cryptocurrencies.

We’ve heard all the news and seen the impact that governments can have on cryptocurrencies, with each country owning the power to shut down exchanges, ban initial coin offerings and more. Does that make cryptocurrencies a flawed concept, with the entire ethos of Satoshi Nakamoto having been to take the power away from the governments and central banks?

On the face of it, there is a strong argument that the cryptos have been marred by recent government interventions, but the reality remains that the fundamental concept remains intact. There’s no printing of cryptos and rewards for cryptocurrency holders that come from the verification process continues to remain independent and out of the hands of a single authority.

Ethos intact, but governments in power. That has been the downfall of the cryptocurrencies this week, with Cboe Bitcoin futures falling by $480 to $14,310 for January’s maturity, by $550 to $14,260 for the February contract and by $570 to $14,300 for the March contract.

The smart money has certainly responded to the regulatory risk noise that even the less savvy investor knows is bad news for the cryptos. The fact that Bitcoin futures are sitting well above Bitcoin’s current value of $13,700 is perhaps more worrisome. The futures market has managed to pin back the likes of Bitcoin from any late 2017 rally that had been enjoyed by many of the other cryptocurrencies, but is providing little comfort as investors shun the futures contracts as a pricing guide, looking to preserve capital and 2017 gains instead.

It’s not looking particularly bright for Bitcoin and the rest of the majors through the remainder of the day and, while the futures contracts have some buffer for Bitcoin to move northwards, it’s more likely that Bitcoin futures will be taking its cues from Bitcoin today.

While Ethereum has taken the limelight this week, even the world’s 2nd largest cryptocurrency by market share is fallible, with Ethereum having pulled back from today’s intraday high $1,386.99 to $1,271.25 at the time of writing.

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For the day ahead, it’s going to be a tough one for the cryptomarket and one doesn’t have to go too far back to recall the last time that Bitcoin was under the hammer and talks had built of a possible end to the Bitcoin dream.

We will expect the Bitcoin futures contracts to catch up to the negative sentiment towards the cryptos, which should see Bitcoin futures fall to Bitcoin’s current values, though whether Bitcoin can steady this afternoon remains to be seen.

Investors will be looking to work out re-entry prices and for some, entry prices though, with the speed of today’s declines, when to enter the markets will be a hot topic in key markets.

Ripple at $1.64 and Bitcoin at sub-$14,000 sound like bargains, but buying on the dip would certainly not be recommended today.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 10/01/18

Bitcoin Cash Holds On

While Big Brother and Bitcoin Gold struggle through the early part of the day, it’s not been a bad morning for Bitcoin Cash, rising 2.17% to $2,421.8 and seemingly unaffected by the declines in the Bitcoin futures market today.

A lack of government and regulator chatter this morning has eased some of the angst felt within the cryptomarkets, though the risk continues to linger, with Bitcoin Cash and the rest continuing to be sensitised to it.

While Bitcoin Cash has been on the rise this morning, it’s looking a little bearish with $2,300 support levels likely to be tested. For a continued rally, Bitcoin Cash will need to move beyond $2,500 levels to have any hope of a move back towards $3,000.

We will expect uncertainty to continue to hamper the markets, with any material upside in Bitcoin Cash likely to be on hold for now.

BCH/USD 10/01/18 Hourly Chart

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Litecoin on the Back Foot

Things may not be a complete disaster for Litecoin in the latest sell-off that has gone through a number of days now. At the time of writing, Litecoin is down 1.67% to $242.76, with the declines smaller than its peers.

Negative sentiment towards the cryptos has seen Litecoin on a downward trajectory since last weekend and, while this morning’s decline is relatively small by cryptocurrency standards, things could go from bad to worse if sentiment doesn’t change soon.

After hitting sub-$240 levels on Tuesday, we will see Litecoin test $240 support levels, with a move through to $250 needed to bring an end to the current downshift.

LTC/USD 10/01/2018 Hourly Chart

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Ripple Tanks in Battle with Ethereum

What a difference a week makes and the much hyped story on Ripple has turned sour this week.

At the time of writing, Ripple is down a whopping 15.28% to $1.71429 and support levels have just been falling away since the 2nd half of the weekend.

Ethereum has overtaken Ripple in the number 2 spot and it’s been a meteoric rise and fall in the last few weeks for Ripple, with the moves almost entirely attributed to the fact that Coinbase had announced that it would not be including Ripple on its exchange, with the markets having been convinced of an inclusion late in 2017.

Investors have clearly rotated out of Ripple in favour of Ethereum that not only has been supported by the world’s largest exchanges, but also in initial coin offering market.

With Ripple having fallen to an intraday low $1.67, support levels are likely to kick in at $1.70 levels, though as we have seen throughout the week, the cryptocurrency rotation has been unkind to Ripple and if things don’t change quickly, Ripple could begin to make a move towards sub-$1.50 levels.

It’s too early to begin talk of Ripple being priced at sub-$1 levels, but should a pull up to $1.8 levels fail, those looking to get in on a dip and pop will likely hold off for a little while longer.

XRP/USD 10/01/2018 Hourly Chart

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