Cryptocurrency Analytics from FXOpen - page 25.

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Bitcoin prices broke past the $2,000 mark for the first time last week. Due to the important developments in this space during the past few days in this article we will only cover BTC (sorry litecoiners).

Bitcoin Breaks $2,000 on Scaling Agreement

Bitcoin prices broke above the important $2,000 handle last week. After some consolidation around the area prices surged higher to top out at $2,226 on Fxopen. The primary driver behind this surge was speculation about a scaling agreement at the Consensus 2017 conference.

The rumored deal was set to be published on Monday morning US time. When this didn’t transpire, prices crashed, testing $2,000 on most exchanges (see chart below). On FxOpen we traded as low as $2020 before a recovery rally began. The reversal was helped by the official agreement announcement on Tuesday that sent prices back near all-time highs.

Read more:https://blog.fxopen.com/bitcoin-breaks-2000-on-scaling-agreement/

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It’s been a volatile two weeks since our last update. Ether first swung to a new high only to crash close to 30 percent just days later. Dash didn’t do so well either and is now back in a downtrend.

Ether Falls From Highs

Ether prices hit an all-time high of 0.06274 on May 5th. Just four days later a low of 0.04415 was hit on Fxopen, a drop of almost 30 percent from the highs. We’re currently quoted near the 0.05 round figure.

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Bitcoin is down by 1.5 percent compared to one week ago. It’s little brother Litecoin is down by a much larger 14.9 percent and has finally ended the rally.

Bitcoin Down $27 Dollars

Bitcoin is trading lower by $27 dollars compared to last Tuesday. One coin is selling for $1,664 dollars on Fxopen right now.

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Both Peercoin and Namecoin have roughly doubled in value since our last update two weeks. One PPC is now selling for $2.21 dollars while buying one NMC will cost you $2.25 dollars.

Peercoin Up by 97 Percent

Peercoin prices are up by 97 percent since our last PPC article. Back then we said this: ”It’s hard to say when the current bubble will end but for now, it pays to be long.”

This remains our current sentiment. There is no doubt that all crypto-currencies are in a major bubble at the moment. Still these bubbles can last a long time and if you’re already long it pays to follow along. The longer-term charts (weekly and monthly) are bullish too. The new watermark that might end the bull trend is the $1.17 swing low. A breakdown below here would end the rally but not start a bear trend. For that to happen prices need to dip below the 75 cents level.

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The crypto bubble continues for another week. Yesterday bitcoin hit a high of $1,705 dollars on Fxopen. It’s little brother Litecoin narrowly missed hitting the $30 dollars level.

Bitcoin Rallies Above $1,700 Dollars

The bitcoin rally goes on. Prices hit a high of $1,705.80 dollars yesterday. We are currently quoted only slightly below this high water mark at $1,691 dollars.

Read more:https://blog.fxopen.com/bitcoin-rallies-above-1700-litecoin-hits-29-75/

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Ether managed to enter another rally last week. Today prices hit an all-time high, surging over 0.062 BTC per coin. Dash on the other hand failed its breakout last week and has been trading flat ever since.

Ether Hits All-Time High

Ether prices broke above the 0.05 resistance last week. The breakout initially was a bit weak, with prices retesting the previous resistance two times (see chart below). But after this ETH/BTC decidedly broke higher and just hit an all-time high of 0.06247 during the past few hours.

Read more:https://blog.fxopen.com/ether-hits-all-time-high/

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Global bitcoin prices seem to be pulled higher by the continuing problems at Bitfinex. One coin is selling for $1,390 right now, a gain of $150 compared to one week ago. Litecoin is up too albeit at a smaller clip.

Bitcoin Gains on Bitfinex Problems?

Bitcoin continues to gain ground, currently quoted at $1,390 dollars. This is a gain of 12 percent since last Tuesday. Prices on troubled exchange Bitfinex are trading at $1,577 dollars right now. Most USA-based exchanges are quoting BTC/USD around $1,470 dollars. On a side note, Chinese exchanges are still well below USD sites at $1,270 dollars per coin.

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The general crypto bubble continues for another week. Pretty much everything is rallying against the US Dollar and this is the case with PPC and NMC as well. This week both alts broke above the important $1 parity level and are quoted well above it at the moment.

Peercoin Gains 26 Percent

Peercoin prices are trading 26 percent higher compared to two weeks ago. One coin is selling for $1.135 right now, compared to $0.851 in our previous update. Peercoin is the beneficiary of the general uptrend in the crypto market. Bitcoin is trading near the all-time high and many alts are hitting multi-year highs as a result. It’s hard to say when the current bubble will end but for now, it pays to be long.

Read more: https://blog.fxopen.com/peercoin-and-namecoin-march-on/

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A last minute segwit deal between the Litecoin creator and miners lead to a surge in LTC prices. Bitcoin did okay too, up by $31 dollars or 2.5 percent since last Tuesday.

Litecoin Surges on Segwit Deal

The Litecoin creator Charlie Lee and holdout miners reached a compromise deal on April 22nd. According to the circulated announcement, the miners will signal segwit in exchange for a ‘bigger blocks’ solution. The bigger blocks fix will happen when they are over 50% full, which is probably many years in the future. Most LTC blocks are currently well below the 1 MB maximum.

Read more: https://blog.fxopen.com/litecoin-surges-on-segwit-deal/

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Ether and Dash have traded mostly range-bound during the previous two weeks. Ether is up by 1.8 percent since our previous update while Dash is down by 2.5 percent.

Ether Slightly Higher

Ether is quoted at 0.03972 right now, from 0.039 flat in our previous ETH article. In percentage terms, this is a move of only 1.8 percent. This is a very low price change for two weeks in the crypto-world. It underscores the current neutral state of ETH/BTC.

Read more: https://blog.fxopen.com/ether-dash-mostly-range-bound/

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The battle for segwit has moved from bitcoin to litecoin as the two camps are engaging in all-out mining war. Litecoin prices swung back and forth widely since our last update as a result. But first let’s go over BTC and as usual we’ll come back to Litecoin later in this article.

Bitfinex Stops Deposits, Price Spikes

More drama in the crypto arena this week and the star is again Bitfinex. The embattled exchange stopped all deposits yesterday, adding to market fears about solvency problems. It’s unclear if the deposit block was instituted by their Taiwanese banking partners or by Bitfinex themselves. The wording of their announcement implies the first option. Few weeks ago Bitfinex was forced to stop USD withdrawals after Wells Fargo blocked their wire transfers. Initially the exchange filled a suit against WF but this was later dropped.

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Both Namecoin and Peercoin have continued their rallies and are now quoted above 80 cents per coin. We’ll start with PPC/USD and get back to Namecoin later in the article.

Peercoin Rallies by 41 Percent

Peercoin prices rallied by over 41 percent compared to two weeks ago. We are currently quoted at $0.851, 24 cents above the $0.611 price noted in our previous PPC article.

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Bitcoin continues the slow but unrelenting rally. We’re currently quoted at $1,190 dollars per coin, up from $1,147 last week. Litecoin prices are up too, albeit with much higher volatility.

Bitcoin Enters Bull Market

Bitcoin has technically entered a bull market again on the daily charts. We’re trading at $1,190 right now, up by 3.8 percent since last week.

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Dash prices had a sharp drop since our last update and not only ended the uptrend but entered a bear market on the daily charts. Ether ended its rally as well but didn’t take out any important support levels in the previous two weeks.

Ether Back in Neutral Mode

Ether prices are now in neutral mode on the daily charts. The drop took us to a low of 0.03534 BTC on Fxopen, from as high as 0.05805 on March 25th. The sharp correction is visible on the chart below.

Read more: https://blog.fxopen.com/dash-and-ether-rallies-end/

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Both of the coins we follow on Tuesdays are up since the last update. Bitcoin is trading at $1,147 right now, up from $1,057 last Tuesday. It’s little brother Litecoin is up substantially to $9.03 on segwit implementation hopes. As usual we will first cover bitcoin then come back to LTC later in the article.

Bitcoin Ends Downtrend

With a non-stop rally during the previous seven days bitcoin has ended the downtrend and is now back in neutral mode. The daily chart below shows the large range we’re trading in right now.

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Both Peercoin and Namecoin are trading lower compared to two weeks ago. Peercoin is at $0.611 right now, down by almost 12 percent, while NMC is down by a much larger 22 percent.

Peercoin Loses Some Gains

Peercoin lost some of the gains made during the rally. Prices fell from a high of $0.863 on March 16th to a low of $0.48 just a few days later. From here we stabilized somewhat and we’ve been trading mostly range-bound around 50-60 cents per coin.

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Lots of volatility but little price change. This is how we can sum up the last seven days in BTC and LTC. Both cryptos are currently quoted less then 1 percent away from the price noted last Tuesday. Bitcoin is trading at $1057 versus $1062 back then, while LTC/USD is quoted at $4.124 vs $4.120 dollars per coin.

Lots of Volatility, Little Price Change

If you were gone for a week and just checked the price of bitcoin, you would’ve thought nothing major happened. While BTC is trading only half a percent away compared to last Tuesday, volatility is through the roof, as can be seen on the chart below.

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Both Dash and Ether more then doubled in price since our update 14 days ago. One Dash is now selling for 0.096 BTC or over $100 a piece.

Dash Hits Over $100 Per Coin

Dash prices hit the 100 mark versus the US Dollar last week. We are currently trading at $103 dollars per coin. The move has been equally violent in the DSH/BTC pair we follow, with prices surging to a high of 0.01265 on March 18th before crashing down to a low of 0.08024 BTC few days later.

Read more: https://blog.fxopen.com/dash-ether-double-in-price/

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Bitcoin prices fell as fears reemerged about a contentious hard fork last week. Litecoin initially followed the decline but later clawed back some losses.

Bitcoin Falls on Fork Fears

Bitcoin fell over 12 percent since our last update as a contentious hard fork scenario became a possibility. Prices dipped as low as $956 on Fxopen (BTC-E) and $930-$940 on other exchanges. We have since recovered some of the losses but BTC/USD remains in a downtrend.

Read more: https://blog.fxopen.com/bitcoin-falls-on-fork-fears/

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It’s been a great week for altcoins as almost all of them gained ground. Some like Peercoin and Namecoin gained substantially. Peercoin doubled since our last update while Namecoin more than tripled in value. We are clearly in a major rally (or bubble) depending on how you look at things.

Peercoin Prices Double

Peercoin continued the uptrend that started back in February. We are currently quoted at $0.695, over 100% above the $0.322 price noted two weeks ago.

Read more: https://blog.fxopen.com/altcoins-surge-in-major-rally/

Topic: Cryptocurrency Analytics from FXOpen - page 25. (Read 42503 times)