The cryptocurancery market is taking hard time during the third week of the new year because the vast majority of digital assets are 20 percent or less. Currently, the BTC / USD global average is approximately $ 12,050, which is only 24 hours high $ 14,300 A sudden loss occurred after evening when the Bitcoin market dropped in the $ 13K area. The precarious digital asset traders are arguing that the market will reboot soon or will fall to some lower lower population in the near future.
2018 is not the best time for all those people who are looking for the exchange to reach the high of all their time again. In fact, since the top level of 19th, 6th, 00, there has been a significant decline in the December Bitcoin markets and many other cryptokular currencies in the global markets. During this last weekend, the BTC / US Dollar market was stranded around $ 13,300, but was trapped in high gear during the morning of January 15th. Since then, on Tuesday, January 16, things are very different, and the price is now average, at $ 12K per BTC and this morning it was seen at $ 11,600.
In the last 24 hours the global trade volume is equivalent to $ 15.5 billion, BTC has captured 40 percent of this action. The Japanese Yen is slightly lower this week with only 29 percent of the BTC trade volume. In the last three currencies traded in Bitakouine core markets, tether (USDT 10%), Euro (7.9%), and Korean won (which fell to 3.8%). BTF's top five top exchanges include Bitifenux, Oakex, Appebit, Binex, and GDX. Apart from this, on January 16, the biggest business to be associated with BTC is Cryptocurcurrence Ethherem. (ETH)
Technical Indicators
Given a chart like daily and hourly, it shows an important slide in price because the Bitcoin Core Market had taped $ 14,300 on Monday. At that time when the price was increasing more quickly, then two simple moving averages, including 100 and 200 SMA, crossed the path with 100 above the long-term trendline. The gap was small, and on Monday again crossed two hairs, to bring 100 SMA from below 200, once again the sense of recession is visible in the air. Relative Strength Index (RSI) and Stochastic Oscillators are moving north, showing that some traders are buying this special dip and consolidation can be made within the current price range.
Look forward, order books show some tough resistance at $ 12,700 and things become thicker than that area. If bulls can manage to break the zone of $ 13, then some sleek sailing can come back. Look at the back, to break $ 11,150 for the displaced moving average, and if it's $ 10K, then it may be imminent.
The Top 68 Cryptocurrencies Are Down Between 15-40%
Dip has therefore affected large numbers of digital properties because the top 68 cryptocurrence market capitalization (excluding TDRDT) is all red in looking at all the important losses. The second highest market capitalization organized by Athiram (ETH) is down 15 percent because an ETH is valued at $ 1115. Wave (XRP) is still the third place, but the market is down 23 percent, the price of XRP was currently $ 1.40 or halfway two weeks ago. On January 16, prices of Bitcoin Cash (BCH) have fallen 19 per cent, because BTC price is $ 1979 on January 16. Finally, the fifth place is still held by Cardano (ADA), but its markets have fallen by 22 percent because a token is $ 0.65 an average. As always, when the dump increases in the market, the tether (USDT) is 1.12 percent higher and its price is $ 1.02 per price to reduce the fourth highest crypt-trade volume.
The Verdict
It is safe to say that cryptoonarian supporters are particularly unsure about the media publicity and regulatory rumors associated with countries like China and South Korea. Unfortunately, the reports were contradictory, and no one has been able to figure out what's really going on. For example, South Korean Trade Volume is still very active and many cryptoconcells are trading at premium (up to $ 14,775 per BTC).
Lastly, rumors remind people what happened in January 2017 when PBOC started its exchange crankdown. After China's regulatory action, the price of betacocaine dropped from $ 1,100 in the $ 700 area. Apart from this, the price of BTC has come down from its 50-day average, which is traditionally due to old charts due to the sense of price. Along with this, in the last four years, collective dumps have been observed in view of the chart from the past years. Prices have always returned to all new heights after the fall in January and traders expect this to happen again this time.