MarketCap Top Ten
- Bitcoin (BTC/USD)- up 1.6% at $9341.57
- Ethereum (ETH/USD)- up 1.64% at $752.80
- Ripple (XRP/USD)- down 0.12% at a price of $0.809933
- BitcoinCash (BCH/USD)- up 4.78% quoted at $1,657.13
- EOS (EOS/USD)- down by 1.48% at $17.96
- Litecoin (LTC/USD)- down by 0.71% at $158.51
- Cardano (ADA/USD)- down by 0.98% at $0.324969
- Stellar (XLM/USD)- increase of 0.23% at $0.386151
- IOTA (MIOTA/USD)- decreased by 3.49% at $2.32
- Tronix (TRX/USD)- down 0.46% at $0.082086
MarketCap Runner Ups
- Neo (NEO/USD)- up 0.04% at a price of $76.91
- Monero (XMR/USD)- up 3.53% quoted at $231.10
- Dash (DASH/USD)- increased by 1.02% at a price of $445.04
- NEM (XEM/USD)- up 2.24% quoted at $0.385909
Price Analysis
Nothing too exciting as Bitcoin continues to stabilize, test, and strengthen the current support zone. The price has recently crossed above the 50-day Moving Average and is resting below the 200-day Moving Average which is acting as a short-term level of resistance. We will need to see BTCUSD break above the 200-day and out of the downward Linear Regression Channel you see in the chart below.
BitcoinCash looks positioned for another price increase. Take a look at the BCH/BTC Chart below and you can see that BCHBTC has just broken the top of the Linear Regression Channel and retesting the top as support. I suspect BitcoinCash will perform well this season because whether anyone likes it or not there seems to be a dedicated community backing the project and putting their money where their mouth is, so I can't even hate.
Notable News
https://www.bloomberg.com/news/articles/2018-05-09/bunkers-for-the-wealthy-are-said-to-hoard-10-billion-of-bitcoin
https://www.ccn.com/facebook-taps-coinbase-board-member-to-lead-blockchain-initiative/
https://www.ccn.com/put-your-money-where-your-mouth-is-winkelvoss-dares-bill-gates-to-short-bitcoin/
https://www.ccn.com/bitcoin-price-decline-driven-by-q4-futures-launch-fed-researchers-claim/
https://www.ccn.com/nyse-isnt-planning-a-bitcoin-futures-market-but-a-proper-crypto-exchange/