February 6 Price Analysis: USD / Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Cardano (ADA), Litecoin (LTC), NEM (XEM), IOTA (MIOTA), Dash (DASH), Monero (XMR)
Fighting back after dipped below $6,000: Bitcoin price analysis & USD / BTC
Bitcoin falls below $6,000 Cryptocurrencies are fighting back after bitcoin dipped below $6,000
Cryptocurrency crash extends to another day.
Bitcoin falls below $6,000.
Bitcoin, ethereum, litecoin, ripple, and bitcoin cash suffered double-digit percentage losses early in the session but are recovering some ground by mid-morning.
Cryptocurrencies are fighting back mid-morning in Europe after double-digit percentage losses early in the session.
Bitcoin briefly fell below $6,000 at around 8.00 a.m. GMT (3.00 a.m. ET) for the first time since mid-November.
Hussein Sayed, chief market strategist at FXTM, said on Tuesday morning: “The most famous digital currency has fallen 69% from December’s record high, and almost 56% from the start of the year.”
bitcoin Markets Insider
Ethereum, litecoin, bitcoin cash, and ripple also posted double-digit percentage losses early on Tuesday morning. Ethereum was down 18% at one stage.
But the crypto market is making up ground at just after 10.00 a.m. GMT (5.00 a.m. ET), paring back losses to the low single-digit percentages.
Ethereum price analysis: Huge decline in a month from $1400 to $600 – USD / ETH
Ethereum (ETH) crashes 26% in 24 hours
Ethereum (ETH) has always been the second biggest cryptocurrency in the market, behind Bitcoin.
It?s still in second place after its price plunged alongside Bitcoin?s. Ethereum has fallen by a staggering 26% over the past 24 hours.
The fall means the price is currently sitting at US$614.79, which is a huge decline compared to its all-time high of around US$1,400 just under a month ago.
The fall in price means that Ethereum?s market capitalisation (the number of Ethereum multiplied by price) is now sitting at just under US$60 billion. Over US$4 billion was traded in Ethereum over the past day, clearly people…
Bitcoin Cash price drops 20%, wave farewell to $1,000 I Bitcoin Cash price analysis & USD
Bitcoin Cash price drops another 10%, wave farewell to $1,000
BCH/USD bears are merciless
Crypto fans try to stop the panic, to no avail so far
Bitcoin Cash price broke below $1,000 threshold yesterday, and now it is swiftly moving towards $750.00. Being one of the largest digital currencies with the market capitalization above $13B, it feels the pain inflicted on the crypto universe by the global regulators.
Virtual currency markets have turned into a desperate place as a steady flow of bad news caused a widespread cryptocurrency price crash. In addition to the regulatory crackdown, coins are getting harder to buy as major banks ban purchasing crypto with credit cards. These measures will affect about 8 million credit card holders of J.P. Morgan Chase, Bank of America, Citigroup, and Lloyds Banking Group.
The total cryptocurrency capitalization peaked at $814B on January 7, this year; now it is slightly less than $283B. It means that more than 65% of value has been wiped out from the market in a month, though some hardcore believers see it as a rebalancing process. Thus, John McAfee, a well-known cryptocurrency proponent, says that there is no reason to panic
«Please God people – get a perspective about the market! The price of Bitcoin today is still higher than it was just three months ago! In a long term view, Bitcoin is still climbing. Forget about these short term ups and downs. If you are a short term investor, you need to get real» – he writes on his Twitter account.
Anyway, people sell to continue pressing the panic button. BCH/USD is currently trading at $786.47, off the intraday low at $758.09. Once the $750.00 support is broken, the coin may crash towards $664.60, which is the lowest level since November 10, 2017. The nearest resistance comes at $800.00 and followed by $887.00 (21-SMA on hourly chart).
We expected Bitcoin Cash to pull back to the downtrend line, but it turned down from $1,316.07 levels.
BCH/USDToday, it has broken below the $1,000 support. Now, it is likely to fall to the next critical support of $854.3135.
We do not find any signs of a bottom on the BCH/USD pair barring the fact that the RSI is close to entering into the oversold territory. Despite this, we want to see some buying emerge before making any trade on it.
According to Fxstreet, Bitcoin Cash price back to square one
Bitcoin Cash dropped by 14%
Bitcoin Cash is heading towards the $1,000 mark
SEC chairman to appear before the U.S. Senate Committee
Bitcoin Cash is heading fast towards the $1000 level. The cryptocurrency that was birthed in August 2017 following a hard fork on Bitcoin Classic has been dropping tremendously in its price. BCH reached an all-time high of $3,700 on 12th December 2017. It is now trading at $1,021.
Bitcoin Cash has dropped by 14% since the opening of the trading session on Sunday 4th February 2017. The currency has been a downward trend and has failed to push past the $1,300 resistant level. The bearish trend continued on Monday morning leading to another resistant level of $1,220.
The cryptocurrency market has not fully recovered from last week’s series of news on regulations from various governments including China, South Korea, and India among others. The Indian government went ahead to ban the use of all cryptocurrencies in the country. The country will, however, be looking for ways to embrace the blockchain technology. This week has started with news of one of Britain’s largest bank, Lloyds bank banning the use of its credit cards to buy cryptocurrencies due to fears of losses that could occur in the event cryptocurrencies do not regain their value.
The cryptocurrency market is also expecting the chairman to the Security Exchange Commission (SEC), Tom Clayton to appear before the U.S. Senate Committee on banking, housing, and urban affairs on Tuesday 6th February 2017. The hearing is titled; virtual currencies. Mr. Clayton will be talking about the regulatory role of SEC and the Commodity Futures Trading Commission (CFTC). The meeting is going to give the much awaited regulatory clarity so that institutions will be able to know what they can do what they need to avoid in the cryptocurrency market.
Bitcoin cash price failed to move above the $1,300 level and started a downside move against the US Dollar.
There is a crucial bearish trend line forming with resistance at $1,220 on the hourly chart of BCH/USD (data feed from SimpleFX).
The pair is currently heading towards the $1,050 support area and it remains at a risk of more declines.
Bitcoin cash price faced a lot of sellers against the US Dollar. BCH/USD is back in a bearish zone and it could soon retest the $1,000 level.
XRP drops more than 80% from January peak: Ripple price analysis – USD / XRP
Ripple Drops More Than 80% From All-Time High
XRP reached a high of $3.31 on January 4, and has declined 80% to $0.67 since.
Ripple’s XRP token followed the broader crypto market lower today, reeling from the latest developments affecting the space.
The digital token declined to as little as $0.7129 today, representing a roughly 81% drop from the all-time high of $3.84 that XRP reached in January, CoinMarketCap data shows.
Forbes says, the XRP token has experienced some sharp volatility over the last several months, surging from less than $0.01 at the start of 2017 to $2.25 at the end of that year, additional CoinMarketCap figures reveal.
Ripple’s XRP, the world’s third-largest cryptocurrency, is down 80% from its all-time high of $3.32, trading at just $0.66 per token Monday afternoon, according to Markets Insider data. The virtual currency, which was designed for international payments and transfers, has lost 18% in the past day.
According to Businessinsider, XRP now has a market capitalization of just $27.3 billion, according to CoinMarketCap.com. That’s $120 billion less than its peak market value of $147 billion in early January, when it briefly overtook Ethereum as the second-largest cryptocurrency.
All major cryptocurrencies have been smoked since the start of the new year. In 2018 so far, the total market cap for virtual currencies has fallen by $245.7 billion, or roughly 43%, thanks to fears of new regulations in Asian markets like China.
Facebook helped to further the selloff on Friday, when the social network announced it would ban all ads for bitcoin, cryptocurrencies, and initial coin offerings (ICOs). At the same time, it was reported that US regulators had subpoenaed cryptocurrency exchange Bitfinex and cryptocurrency company Tether, further driving down prices.
To make things worse for an already volatile market, India’s finance minister Arun Jaitley, also said that the country’s government “does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto assets in financing illegitimate activities or as part of the payment system.”
Ripple price LIVE: XRP stock price down today as crypto crash continues
RIPPLE continues to post double-digit percentage losses on Tuesday as cryptocurrencies extend their lengthy slump which has wiped out large swathes of the market. Here is the latest Ripple price live news and latest updates on XRP, bitcoin and Ethereum.
Ripple’s XRP crypto token is hovering around the $0.63 price tag on Tuesday after falling from $0.83 (£0.59) on Sunday.
The cryptocurrency suffered massive price losses along with other cryptocurrencies Bitcoin and Ethereum last week – with all now seeing double-digit losses in a dramatic week.
The CoinMarketCap crypto tracker below shows XRP’s price and market cap value in real time.
Here are all the latest Ripple updates from CoinMarketCap, CoinDesk and leading crypto experts. All times are GMT.
Tuesday, February 6
12.46pm: Cryptocurrencies are haemorrhaging money in a ‘cryptopocalypse’
More than 150 billion dollars has disappeared from the cryptocurrency market within the last 24 hours, according to Twitter user Kristian Lien who posted: “The #Cryptopocalypse is upon us.”
The continued collapse has been described as a “bloodbath”, and a “massacre”.
Why Litecoin price is dropping and how low will it go? Litecoin price analysis & USD / LTC
“SellOff” across the board today: Why are they dropping and how low will they go? Litecoin is already trading just above the main long-term trendline, which comes from April 2017. If that one doesn’t hold, next support level is around $90. If we take a look at the MACD and especially at the Directional Movement Index, it looks quite difficult that the current level holds.
Fxstreet says, we don’t recommend buying any of these Cryptocurrencies at least until the speed of the current sell-off diminishes and the indicators’ outlook backs up new rises, something that is still far from happening. Giving a much-needed perspective on the current situation, nobody should be surprised by the falls we are currently witnessing. If Cryptos were able to rise above daily 20% rises, it is completely reasonable that they can also fall at the same rate. Volatility doesn’t care about directions.
The bloodbath continued among major cryptocurrencies as well as in the US equities market on Monday. The US stocks fell the most since 2011, with the Dow sinking more than 1,100 points. It is interesting that the cryptocurrency market is getting cues from the US equities market and showing some correlation in that sense.
The pullback in Litecoin was stronger than the other cryptocurrencies because it reached close to the 20-day EMA. This shows interest in buying at the lower levels.
LTC/USDIf the bulls accumulate the price close to levels between $107 and $120 levels, it will point to a possible bottom. We might be interested in getting the LTC/USD pair if it breaks out of the $175 levels.
On the other hand, if the bears succeed in breaking below the lows of February 2, a fall to the final support of $84.708 is likely.
Due to this uncertainty, Cointelegraph doesn’t recommend any long positions on Litecoin at the moment.
Cardano (ADA) price recovered recently, but it failed to keep: Cardano price analysis & USD
Cardano (ADA) price recovered recently, but it failed to stay above $0.4500
Cardano(ADA) 0.331322 -3.79%
Cardano (ADA) price recovered recently, but it failed to stay above $0.4500
There is a new major declining trend forming with resistance at $0.3380 on the hourly chart
A major support level is established near the $0.3033 level
Cardano Price Resistance
The ADA price against the U.S. Dollar recently bounced back from a low of close to $0.2900, now trading at $0.3095, but it failed to go above the previous resistance of $0.3380. It did make a short-term top at $0.3273 as the day progressed, but the downward movement continued on afterward.
The 23.6% Fibonacci retracement level of $0.2200 is not too helpful at the moment, but it’s a good price for anyone looking for a “bottom” to get in.
Cardano Price Analysis
Now the question is whether ADA price could hold at $0.3033 or go back down below $0.3000. A short-term upside is expected at $0.3250, but the real resistance that needs to be tested is $0.3380. Both MACD and RSI indicators look encouraging, especially as now the MACD line and the signal line are overcrossing.
Looking at the Technicals:
MACD — the MACD indicator is showing a bullish signal since both lines are on verge of crossing
RSI — the RSI indicator for ADA is giving a bullish signal, as it’s under the 50 mark
Major Support Level — $0.3033
Major Resistance Level — $0.3382
XEM/NEM dropped from $2.09 to $0.49: NEM price analysis & XEM USD
NEM(XEM) $0.493806 USD (0.43%)
NEM Faces Bear Market as 3-Day Slide Continues
NEM’s native token XEM is close to seeing a revival of the bear market, the technical charts indicate.
NEM is retesting the lows formed on February 2. If the bulls manage to hold the lows, a move towards the downtrend line might take place.
If the lows breakdown, we are most likely to see a fall to the next support level of $0.31672. The XEM/USD pair will become positive in the short-term once it sustains above the downtrend line.
According to Coindesk, XEM prices reached an all-time high of at $2.09 on Jan. 4, before falling to $0.72 on Jan. 17, according to CoinMarketCap data. The recovery that ensued ran out of steam at the Jan. 21 high of $1.22.
Prices then hit a low of around $0.78 on Jan. 26 seemingly due to reports that 500 million XEM tokens, worth roughly $420 million at the time, had been stolen from Japanese exchange Coincheck.
While it was perhaps to be expected that XEM might continue the decline, the token turned higher and ran into offers on Jan. 27 at $1.08. It has since been in a slide, however, and, as of writing, the cryptocurrency is trading at $0.84.
The price action witnessed in the last two weeks indicates the cryptocurrency has created a series of lower highs and higher lows – i.e. narrowing price range, popularly known as a “symmetrical triangle” formation.
At press time, the technical chart indicates XEM is close to breaching the symmetrical triangle on the downside – a move which could revive the long-run bearish outlook.
IOTA (MIOTA) price reaches $1.50 on exchanges: IOTA price analysis & USD / MIOTA
IOTA (MIOTA) $1.50 USD (-3.80%)
IOTA has been involved in a fall from the $2.42 levels to the $1.66 levels in the last few days. This is a representation of more than 30% from its peak level.
With the current market conditions, IOTA might experience resistance in the $1.90 levels in the next few days. However, with harsh conditions, it might further fall to the $1.30 levels.
According to stocknewstimes, IOTA (CURRENCY:MIOTA) traded down 12.7% against the dollar during the 24 hour period ending at 17:00 PM E.T. on February 5th. IOTA has a total market capitalization of $4.23 billion and approximately $70.55 million worth of IOTA was traded on exchanges in the last 24 hours. In the last week, IOTA has traded 39.9% lower against the dollar. One IOTA coin can currently be purchased for about $1.52 or 0.00021092 BTC on exchanges including CoinFalcon, Exrates, Binance and Gate.io.
IOTA (MIOTA) partners with one of the giant countries in Asia
According to cryptorecorder.com, IOTA partners with one of the giant countries in Asia
Taiwan, one of the giants of Asia, has noticed IOTA (MIOTA). In actual sense, it is the tangle technology used in the blockchain of the crypto in which authorities of Taipei, the capital city of Taiwan, are interested. The city wants to become a digital city. And they have recognized that they can achieve this by using blockchain technology.
The choice of IOTA by the authorities of the capital city of a quite developed country for a partnership is a great booster to the IOTA Foundation. It points out that IOTA cryptocurrency has an excellent blockchain network.
Trading down 39.3% this week: Dash price analysis & USD / DASH
Dash (DASH) $467.61 USD (-5.77%)
Dash Trading Down 39.3% This Week (DASH). According to stocknewstimes.com, Dash (CURRENCY:DASH) traded down 19.4% against the dollar during the one day period ending at 13:00 PM Eastern on January 29th. Dash has a total market cap of $3.65 billion and $69.04 million worth of Dash was traded on exchanges in the last 24 hours. One Dash coin can now be bought for approximately $464.52 or 0.06572400 BTC on major cryptocurrency exchanges including Exmo, Coinroom, Upbit and Bit-Z. Over the last week, Dash has traded 39.3% lower against the dollar.
Dash (DASH) 1-Day Volume Reaches $78.20 Million
According to dispatchtribunal.com, Dash (CURRENCY:DASH) traded down 15.4% against the U.S. dollar during the 1-day period ending at 17:00 PM E.T. on February 5th. One Dash coin can currently be purchased for approximately $465.42 or 0.06451570 BTC on popular cryptocurrency exchanges including COSS, OpenLedger DEX, Bithumb and Upbit. Dash has a total market cap of $3.66 billion and approximately $78.20 million worth of Dash was traded on exchanges in the last day. Over the last week, Dash has traded down 39.3% against the U.S. dollar.
Dash Digital Currency now Offered on Mercury Exchange
Digital currency Dash has announced that it’s now available on the US-based cryptocurrency exchange, Mercury Cash. The integration means Dash will join Ethereum on the exchange and will be available to buy and sell online via debit and credit card, said the company in a statement.
According to the-blockchain.com, With more than 1,000 percent year-over-year growth in both value and trading volume since 2015, Dash is now one of the world’s top cryptocurrencies, said the company in its announcement.