TheCryptoUpdates
Price Analysis

Bitcoin Price surges by 7%; BCH touted the biggest Gainer

Bitcoin Price

In the past 24 hours, cryptocurrency prices have displayed a strong surge and heavy volumes. The market cap which was on the verge of falling below $100 Billion has reached above $120 billion. Bitcoin price saw a gain of 7% and is trading at $3,829 level. It is likely that new investors are attracted to the market if BTC manages to hold above $3,500 level.  However, the region above $3,800 region will offer significant resistance to prices.

Technical Indicators

The 50 day EMA crossed the 100 Day EMA line on the hourly chart. This denotes a bullish development as 50 day EMA would offer strong support to Bitcoin price. While the stochastic indicator depicts a slight pullback, due to strong momentum, it will attract buyers.

Bitcoin Price

 

Bitcoin Cash

  • Bitcoin Cash slipped to the 8th position and is depicting a strong reversal, gaining 25% in the past 24 hours.
  • It has once again claimed its three figure price after slipping in the $80 range in the past week.
  • At press time, it is trading at $113 and is at 6th position in respect to market cap rank.

Ethereum

  • Ethereum  also broke the $100 level.
  • In the past 24 hours it has gained close to 9 per cent.

Ripple

  • Ripple(XRP) gained almost 9.5% in the last 24 hours.
  • It is trading at $0.36.

TRON and IOTA

  • TRON and IOTA are up by 10% and 14% in the last 24 hours.

While the market shows green signals, it is not  a happy news for many. TCU reported on December 15th, Status,open source Ethereum-based mobile app is laying off 25% of it’s staff.  The move is due to the recent cryptocurrency market decline.

The question continues to lurk whether it is a dead cat bounce or market continues to hold its gains. Time will be the best judge. 

 

 

 

 

Related Articles

Daily Price Analysis for Holo (HOT) – September 25, 2018

Neha Pahuja (Staff Writer)

Verge Coin (XVG) Price Analysis | XVG News | October 15, 2018

Neha Pahuja (Staff Writer)

Bitcoin Has Hit $6,000: A First After The High On November!

Shreya Singh