That's a good sign that Bitcoin will rise slowly as capital is starting to pour in the market. But we should be careful also. Maybe it is just a bulltrap created by whales.
But this is a good news anyway. But still far from what i loss. I loss 80% of my portfolio.
Still im a very optimistic guy. Always positive. This small rise of Bitcoin should continue. But something's keeping Bitcoin from rising. Maybe people are still wary about the uncertainty of regulations of other countries about cryptocurrencies. But im pretty sure once tge government introduce the regulations.
Topic: [2018-07-02] Bitcoin and Ether Surge 6% as Crypto Market Adds $15 Billion in 2Hr (Read 104 times)
July 03, 2018, 03:38:14 PM
July 03, 2018, 11:00:25 AM
"Already, as a result of the short-term bounce of bitcoin, tokens including Aelf (ELF), ICON (ICX), Zilliqa (ZIL), WanChain (WAN), and 0x (ZRX) increased by the range of 6 percent to 21 percent, with ZRX recording a 21.5 percent gain against bitcoin and a 27 percent gain against the US dollar."
Will this just be the short term bounce?
Will this just be the short term bounce?
There are even reports in media that this could be a dead cat bounce. So its interesting to see if this is sustainable or not as it looks like the price is still holding at around $6500 which might signal a short term bullish trend. So if this rally holds, then we might see a run up to $7000. Glad to see at least we are heading on a positive direction after hitting as low as $5800 in the previous days.
Of course when the price of bitcoin picks up, some other tokens price increases and follow bitcoin's current trend even registering higher percent gains but its understandable.
July 02, 2018, 10:34:35 PM
"Already, as a result of the short-term bounce of bitcoin, tokens including Aelf (ELF), ICON (ICX), Zilliqa (ZIL), WanChain (WAN), and 0x (ZRX) increased by the range of 6 percent to 21 percent, with ZRX recording a 21.5 percent gain against bitcoin and a 27 percent gain against the US dollar."
Will this just be the short term bounce?
Will this just be the short term bounce?
July 02, 2018, 05:48:07 PM
Bitcoin and Ether Surge 6% as Crypto Market Adds $15 Billion in 2 Hours.
In the past 2 hours, bitcoin and ether, the native cryptocurrency of Ethereum, recorded a 5 percent increase in value supported by a sudden spike in volume.
Within merely hours, the volume of bitcoin surged by over $1 billion while the volume of ether increased by nearly 20 percent.
Volume is Coming Back
Earlier today, CCN reported that the next 24 hours would be crucial to the crypto market and will define the trend of major digital assets including bitcoin and ether throughout this week.
“The volume of bitcoin has recovered to $4.6 billion and the volume of Ether has risen to $1.5 billion, from $3 billion and $1 billion respectively. The recovery of the daily trading volumes of major cryptocurrencies signify an increase in stability in the crypto market. The next 24 hours will likely dictate the short-term price trend of bitcoin throughout the week,” a CCN report read.
Over the last several hours, the volume of both bitcoin and ether rose by $1.5 billion, while the volume of Tether achieved $4.2 billion. The movement of the volume of Tether (USDT) and BTC / ETH to the upside signify that investors are reallocating their funds stored in USDT, whose value is hedged to the value of the US dollar, to digital assets.
Already, as a result of the short-term bounce of bitcoin, tokens including Aelf (ELF), ICON (ICX), Zilliqa (ZIL), WanChain (WAN), and 0x (ZRX) increased by the range of 6 percent to 21 percent, with ZRX recording a 21.5 percent gain against bitcoin and a 27 percent gain against the US dollar.
The rise in the price of bitcoin from $6,300 to $6,600 in the past two hours demonstrates more significance than a mere 5 percent increase for the digital asset; it could lead the price of bitcoin to potentially break the $7,000 mark throughout this week with strong momentum and volume.
Funds are Still Bullish
Ryan Rabaglia, a partner at Octagon Strategy, said that despite major corrections, the cryptocurrency market has always managed to come out of bear cycles with hundred percent gains and big rallies. He stated that the market will see its previous numbers by the end of 2018 and funds are still bullish and optimistic regarding the mid-term growth of the industry.
“Year over year, the cryptocurrency market is up well over a hundred percent still, the markets are still in the growth phase and it is still a nascent industry. The regulatory stance of the industry is a double edged source. The uncertainty that is driven around this regulation is what gives pressure to this market and drives this market further down” Rabaglia said, emphasizing that the establishment of regulation will lead the market to surge in the long run.
The cryptocurrency community has been extremely optimistic in regards to the corrective rally of bitcoin and ether over the past two hours. While analysts could downplay the corrective rally given that it really was only a 6 percent increase in value, the rally was a symbolic movement with a large spike in volume that may dictate the trend of the cryptocurrency market in July.
https://www.ccn.com/bitcoin-and-ether-surge-6-as-crypto-market-adds-15-billion-in-2-hours/
In the past 2 hours, bitcoin and ether, the native cryptocurrency of Ethereum, recorded a 5 percent increase in value supported by a sudden spike in volume.
Within merely hours, the volume of bitcoin surged by over $1 billion while the volume of ether increased by nearly 20 percent.
Volume is Coming Back
Earlier today, CCN reported that the next 24 hours would be crucial to the crypto market and will define the trend of major digital assets including bitcoin and ether throughout this week.
“The volume of bitcoin has recovered to $4.6 billion and the volume of Ether has risen to $1.5 billion, from $3 billion and $1 billion respectively. The recovery of the daily trading volumes of major cryptocurrencies signify an increase in stability in the crypto market. The next 24 hours will likely dictate the short-term price trend of bitcoin throughout the week,” a CCN report read.
Over the last several hours, the volume of both bitcoin and ether rose by $1.5 billion, while the volume of Tether achieved $4.2 billion. The movement of the volume of Tether (USDT) and BTC / ETH to the upside signify that investors are reallocating their funds stored in USDT, whose value is hedged to the value of the US dollar, to digital assets.
Already, as a result of the short-term bounce of bitcoin, tokens including Aelf (ELF), ICON (ICX), Zilliqa (ZIL), WanChain (WAN), and 0x (ZRX) increased by the range of 6 percent to 21 percent, with ZRX recording a 21.5 percent gain against bitcoin and a 27 percent gain against the US dollar.
The rise in the price of bitcoin from $6,300 to $6,600 in the past two hours demonstrates more significance than a mere 5 percent increase for the digital asset; it could lead the price of bitcoin to potentially break the $7,000 mark throughout this week with strong momentum and volume.
Funds are Still Bullish
Ryan Rabaglia, a partner at Octagon Strategy, said that despite major corrections, the cryptocurrency market has always managed to come out of bear cycles with hundred percent gains and big rallies. He stated that the market will see its previous numbers by the end of 2018 and funds are still bullish and optimistic regarding the mid-term growth of the industry.
“Year over year, the cryptocurrency market is up well over a hundred percent still, the markets are still in the growth phase and it is still a nascent industry. The regulatory stance of the industry is a double edged source. The uncertainty that is driven around this regulation is what gives pressure to this market and drives this market further down” Rabaglia said, emphasizing that the establishment of regulation will lead the market to surge in the long run.
The cryptocurrency community has been extremely optimistic in regards to the corrective rally of bitcoin and ether over the past two hours. While analysts could downplay the corrective rally given that it really was only a 6 percent increase in value, the rally was a symbolic movement with a large spike in volume that may dictate the trend of the cryptocurrency market in July.
https://www.ccn.com/bitcoin-and-ether-surge-6-as-crypto-market-adds-15-billion-in-2-hours/
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