Topic: Cryptocurrency Analytics from FXOpen - page 34. (Read 42644 times)

The downtrend for bitcoin is technically over, after we rallied over $50 dollars from the lows reached on August 25th. Prices are now closing in on the important $250 mark again. Meanwhile Litecoin is still in its downtrend and currently fighting with an important resistance level.

Bitcoin Closing in on $250 Again

Bitcoin prices are again flirting with the $250 dollars level. This important figure was the starting point for the rally at the end of June. On the way down, a breakdown below $250 triggered a crash of $32 dollars. With BTC/USD coming up to this figure again, it’s likely that this important level will act as resistance again.

Read More https://blog.fxopen.com/bitcoin-downtrend-ends-prices-closing-in-on-250/

Both Peercoin and Namecoin are trading slightly higher compared to our last PPC/NMC update. Peercoin is up by 1.1 cent or 3.5 percent while Namecoin is higher by 2.7 cents or 7.7 percent.

Peercoin slightly higher in Volatile Week

Peercoin is trading very slightly higher by 1.1 cent per coin after a volatile session. First we saw PPC/USD rally to $0.379, only to fall back down to $0.327 in the next several days. We are currently quoted at $0.329.

Read More https://blog.fxopen.com/peercoin-namecoin-slightly-up-in-volatile-week/

Bitcoin stayed within a right range during the past six days. Meanwhile its little brother Litecoin continued the slide lower, losing another 7 percent since last Tuesday. But let’s start with big brother first.

Bitcoin Stuck in Range

Bitcoin has been stuck in a range between $216.12 and $230.96 dollars per coin since August 26th. After the large crash we saw an equally quick recovery, which didn’t quite reach the pre-crash prices. Since Wednesday we have been trading in this $14 dollars range. In the past four days, the range has shrunk further to only $7 dollars. The low of this newest range stands at $222.34 while the high is at $229.57.


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Cryptocurrencies are getting some breathing room after the relentless selling seen in the past 10 days. Since reaching new multi-month lows on Tuesday, bitcoin is trading higher by $31 dollars or 16 percent. Namecoin rose by over 5 cents, above 16 percent, from its lows. Peercoin is also trading higher but by only 9 percent.

Peercoin Lags Behind the Bounce

Alternative cryptocurrency Peercoin is lagging behind the general market bounce. While most other major cryptos clocked gains of 16 percent, or in Litecoin’s case 17.6%, PPC/USD is only up by 9 percent. Peercoin is currently quoted at $0.318, 2.7 cents from the $0.291 low.

Read More https://blog.fxopen.com/cryptocurrencies-catch-a-break/

No predictions?

Both bitcoin and litecoin entered downtrends last week. Bitcoin took out the important $250 handle, while Litecoin broke below the low of its range at $3.70. Consequently BTC/USD fell by over 22 percent while the losses in LTC/USD exceeded 30 percent.

Bitcoin Down by 22 Percent

During the last 7 days, everyone’s favorite cryptocurrency fell by almost $58 dollars to a low of $192.55 today. We already reported on the Wednesday crash in our last article. But the BTC losses didn’t stop there. Since last Thursday, bitcoin lost a further $41 dollars (from $233 to $192). We are currently experiencing a slight retracement with BTC/USD trading at $210 dollars per coin.

Read More https://blog.fxopen.com/topics/cryptocurrencies/

The crash in bitcoin prices on Wednesday sent shockwaves across the cryptomarket. Bitcoin fell by close to $40 dollars or over 15 percent. Peercoin sold off by 25% while Namecoin hit a low of  – 30% at one point. What was the reason for the sell-off?

Bitcoin Crash Sinks All Ships

Two prominent bitcoin developers released a new version of the software during the weekend called Bitcoin XT. The main goal of the new software is to facilitate bigger blocks. A ”block” is the building material of the bitcoin ”blockchain”. It holds all relevant data for the most recent bitcoin transactions.

You can read about the other proposed changes HERE. Despite the good intentions, the new client triggered fears of a bitcoin split, meaning we would see two networks instead of the current unified bitcoin network. Several catchy headlines ”Bitcoin could split” by major media outlets didn’t help the matter.

After the break of $250, which we noted on Tuesday as an important support level, Bitcoin crashed close to $32 dollars , hitting a low of $218. Today the selling continued with prices hitting a new low at $211.05. This is very close to the double bottom at $210.84. This level was also noted in our article as important support for BTC/USD. After the bounce near $210 we rallied over $20 dollars and we are currently quoted at $233 dollars per coin.

Peercoin Falls by 25 Percent

Peercoin fell by 25 percent since our update last week. During the bitcoin turmoil a lot of $0.329 was reached in PPC prices. Same as with bitcoin, we later saw a strong reversal and Peercoin is currently quoted at $0.372. This is still 16 percent below the prices noted last Thursday.



Read More https://blog.fxopen.com/bitcoin-crash-reverberates-across-cryptomarket/

What do you think LTC will do?

Things are quickly turning south for the crypto-market as bitcoin continues to push on the support at $250 dollars. Both Peercoin and Namecoin have made new lows since our last update. As we wrote in our weekly update, both cryptos entered a downtrend last week. Peercoin is down by 2.5 cents or 5.6 percent while Namecoin is down by 1.4 cents or just below 3 percent. But let’s start with Litecoin which seems to be the most stable of the big four.

Litecoin Range-bound, Waiting for Next Move

Litecoin is still trading range-bound, waiting for the next move. We are currently quoted at $3.91 for one coin, only 1 cent lower compared to one week ago. In the past seven days, LTC/USD traded in a tight range between $3.77 and $4.18 dollars.

Read More  https://blog.fxopen.com/bitcoin-hovering-above-250-dollars/

Both Peercoin and Namecoin entered into bearish territory last week. Soon after big brother bitcoin broke the important $270 handle, the altcoins followed suit, with Peercoin breaking $0.465 and Namecoin going below 55 cents per coin.

Peercoin Enters Downtrend

Alternative cryptocurrency Peercoin entered a new downtrend on August 9th, after a decisive break below the $0.465 figure. We had some follow-through soon after, with prices bottoming out at $0.431 on August 11th, a loss of 7.3 percent. But since then PPC/USD bounced back somewhat, hitting a high of $0.484 the next day, only to resume the decline today. One coin is currently selling for exactly 44 cents.

Read More https://blog.fxopen.com/peercoin-and-namecoin-enter-downtrends/

The rally in bitcoin prices ended last Saturday after prices decisively broke below the important $270 support level. While the initial push took us to a low of $252 dollars per coin, we have since bounced back somewhat. Meanwhile the rest of the cryptomarket is more or else stable as well. For example Litecoin has been trading flat for the past six days hovering right below the $4 figure.

Bitcoin Rally Ends

The bitcoin rally ended on August 8th with a break of $270 that took out $265 one hour later. In the next 10 hours, BTC/USD was down by $13 dollars to $252 flat, a decline of 4.9 percent. Bitcoin has since rebounded and is currently quoted at $261.95, after trading as high as $269.26 this morning.

Read More https://blog.fxopen.com/bitcoin-rally-ends-litecoin-move-awaited/

The decline for cryptocurrencies continues. In the last seven days, Peercoin bounced near the important $0.465 support while Namecoin fell about 8  percent. Big brother bitcoin also continues to drift lower, down close to $15 dollars since a high of $289.97 reached last week.

Peercoin Bounces at Important Support

Since our last update on Peercoin, the crypto bounced near the important $0.465 mark. A low of $0.474 was reached on Saturday, August 1st. The next day PPC/USD gave it another shot, this time trading to a low of $0.476. The subsequent rebound saw prices rally to $0.526 on Monday, only to give up most of the gains in today’s trading session. We are currently quoted at $0.492 dollars per coin.

The bounce adds more validity to this support level. A decisive break below $0.46 would start a new PPC downtrend. More support below this level can be found at $0.376, followed by the round $0.30 mark.

Read More https://blog.fxopen.com/peercoin-bounces-at-support-namecoin-down-8/

Both Bitcoin and Litecoin and trading slightly down since our last update. Bitcoin is down from $286 to 279.50, a fall of 2.7 percent. Meanwhile its little brother recorded a larger loss from $4.93 last Tuesday to $4.33 today, for a total of 12.2 percent.

Bitcoin Nears $270 Dollars

Bitcoin traded as low as $275 dollars in the past seven days. This comes after the week before the crypto hovered near this important mark for several days.

Read More https://blog.fxopen.com/bitcoin-down-2-litecoin-lower-by-12-percent/

Peercoin Higher After Volatile Week

Alternative cryprocurrency Peercoin is trading somewhat higher this week. The altcoin has been buoyed by bitcoin’s rally but cracks are already starting to show. Since our last update on Thursday, PPC/USD gained 12.5 cents, or just over 25 percent and hit a high of $0.616 yesterday. But right as bitcoin’s move higher stalled, PPC rolled over, crashing by 10.3 cents to $0.513. We are currently quoted at $0.521, not far from the lows.




Read More https://blog.fxopen.com/peercoin-namecoin-higher-in-volatile-week/

Bitcoin slowly gained more ground since our last update. This supported the rest of the altcoin market. Litecoin rallied over 31 percent, Peercoin gained 21% and NMC added 11 cents or exactly 20%. But let’s start with big brother first.

Bitcoin Rally Continues

After a near brush with death at the $270 dollars support last week, the bitcoin rally continues. About 10 days ago prices on FxOpen briefly flash-crashed below this level. But the lows lasted less then 2 minutes as the cheap coins got bought up. Because the crash didn’t replicate on other platforms we said that: ‘

‘Still, the crash hasn’t altered the current bitcoin uptrend because other major exchanges stayed flat during this event. To end the current rally, the bears will need to make a decisive push below the important support at $265/$270 dollars. Due to low liquidity during the summer months, it’s better if the move lower is confirmed with other exchanges”

Read More https://blog.fxopen.com/bitcoin-rally-continues-at-a-slower-pace/

Both Namecoin and Peercoin traded flat this week. After their respective rallies ended, volatility has plummeted, with the 7-day ATR dropping six-fold in PPC/USD and nine-fold in NMC/USD.

Peercoin Trades Flat After Rally Ends

Peercoin is trading flat after its rally ended. For the past seven days since our last PPC update, prices moved in a range between $0.48 and $0.556. While this congestion area is relatively large in percentage terms (12%), it’s much smaller compared to the daily ranges seen in early July. For example, the 14-day Average True Range, a common measure of volatility, has declined over 30 percent, from $0.133 to $0.099 today. A shorter ATR of 7-days shows a much sharper six-fold contraction from a high of 19 cents to only 2.9 cents today.


Read More  https://forum.forexcup.com/showthread.php/109357-Forex-Finals-Tour-V-Calls-for-Talented-PAMM-Manager?p=2160567#post2160567

Bitcoin flash-crashed 30 percent on a cleared orderbook. Meanwhile alternative cryptocurrency Litecoin stayed mostly flat since last Friday. But as usual let’s start with big brother first.

Bitcoin Flash-Crashes 30 Percent

Bitcoin flash-crashed close to 30 percent in 2 minutes. The crash happened due to a large sell order on the BTC-E orderbook. This market order cleared the entire buy side all the way down to $194 dollars per coin.It only took 2 minutes to go from $276 to $194 dollars, a fall of 30 percent. Then the arbitrage bots took advantage of the opportunity and bought up the cheap BTC-E coins. Because FxOpen sources its data from BTC-E, we saw identical decline on its platform as well.


Read More https://blog.fxopen.com/bitcoin-rally-hangs-by-a-thread-after-crash/

Last week’s we had an explosive end in the Litecoin and Namecoin rallies. But the rest of the altcoin market help up reasonably well with PPC and BTC still in uptrend. That changed today when Peercoin ended its run as well and bitcoin got within $13 dollars of ending its rally.

Namecoin Falls Below 62 Cents

The Namecoin rally ended on a break below the support at 62 cents. By July 10th and July 11th, when the sharp correction transpired, prices have carved out a nice support near $0.618-$0.64.  The crash took out this level and closed out the uptrend. While NMC/USD did have a dead cat bounce in the following days, today we got more confirmation with prices taking another tumble below $0.60. We are currently quoted at 58 cents per coin.


Read More https://blog.fxopen.com/peercoin-namecoin-rallies-ends-as-well/

The crypto rally hit a major bump in the road since our last update. Litecoin had a blowout top on July 10th, first rallying to a high of $8.67 before falling 60 percent to a low of 3.61. Namecoin fell 56% from its high at $1.30 and Peercoin declined by 46 percent before recovering somewhat. But let’s start with big brother first.

Bitcoin Falls on Greek Deal

Unlike the rest of the crypto market, bitcoin hit its bump on the road two days alter, on July 13th. While the altcoin market was going belly up, BTC/USD broke the important resistance at $270 dollars and surged to a high of $310.22 on July 12th. This put everyone’s favorite cryptocurrency within $8 dollars of its 2015 high. But soon after the highs were reached news broke that Greece reached a deal with its creditors. This caused a major BTC correction of $40 dollars as prices traded back down to the $270 dollars mark.

Read More https://blog.fxopen.com/crypto-rally-hits-a-bump-in-the-road/

The past 7 days saw a resumption of the upward trend. Bitcoin is pushing on the $270 dollars resistance, Litecoin is surging and Peercoin hit a new high for the year today. But Namecoin remains range-bound, stuck between 64 and 77 cents per coin.

Peercoin Hits New Yearly High

Peercoin hit $0.658 today, a new high for 2015. The move higher has no doubt been helped by the general rally across most cryptocurrencies. Peercoin is now getting close to an important resistance area comprised of two levels, $0.70 and $0.73.


Read More https://blog.fxopen.com/namecoin-range-bound-more-gains-for-peercoin/