Cryptocurrency Analytics from FXOpen

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It’s a mixed bag for the two cryptos we will cover in today’s article. While Dash managed to stage a successful breakout last week, ETH prices didn’t get very far and soon retraced all gains.

False Breakout for Ether

Ether prices had a false breakout last week. On February 14th prices surged from 0.01125 to a high of 0.01321. But by day four of the rally we had a 50% retracement and by day eight all of the gains were lost.

Read more: https://blog.fxopen.com/dash-breaks-out-ether-range-bound/

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Bitcoin prices surged close to 10 percent in the past seven days, largely due to speculation regarding the upcoming ETF decision. Litecoin moved up slightly but remains in a downtrend. As usual we start with bitcoin and we’ll come back to LTC/USD later in the article.

Bitcoin Surges $100 on ETF Speculation

Bitcoin prices rallied by over $100 dollars since last Tuesday to hit a high of $1,188 on Fxopen. On other exchanges we’ve seen figures above $1,200. The move higher seems to be largely due to increased speculation about the upcoming bitcoin ETF.

Read more:https://blog.fxopen.com/bitcoin-surges-on-etf-speculation/

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We have a mixed bag of results today. While Peercoin continues to clock gains, Namecoin finished its rally. It’s currently quoted at 25 cents, only 1.1 cent above the price noted two weeks ago.

Peercoin Rallies by 13 Percent

Peercoin prices are up by over 13 percent during the past 14 days, from $0.284 to 0.322 right now. As you can probably deduce from the chart below, the uptrend is still in place.

Read more: https://blog.fxopen.com/namecoin-rally-ends-peercoin-still-up/

[voskobojn]

Another exciting week in the crypto arena. Both bitcoin and litecoin clocked some gains since our last weekly update. But will these gains stick?

Bitcoin Drops on PBOC Comments

Bitcoin prices dropped from $1,255 to a low of $1,170 today on comments by PBOC’s Zhou Xuedong. The official said that while bitcoin exchanges will not be forbidden, strict regulations will be applied to the sector. The PBOC will undertake an observation period and may even close non-complying exchanges. Zhou Xuedong is the director of the PBoC’s Business Administration unit and was the person in charge of the audit conducted on bitcoin exchanges earlier this year.

This tone is the strongest yet to date from the People’s Bank of China so it’s not surprising to see the price fall a decent amount. However BTC/USD has recovered about half of the losses already and is quoted at $1,226 right now. Chinese prices remain suppressed as bitcoin withdrawals are still not possible. One coin is selling from $1,150 t0 $1,165 on the Big Three, a discount of over $70 dollars from USD exchanges.

Read more: https://blog.fxopen.com/bitcoin-drops-on-pboc-waits-etf/

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Dash continues the strong rally after the breakout two weeks ago. Earlier this month a high of 0.04825 was reached. We’re trading near these highs at 0.04243 BTC right now. Ether is on the move as well, after commencing its down uptrend.

Dash Nears All-Time High

Dash prices are nearing the all-time high set earlier this month. Since our last update, the altcoin surged from 0.01969 to 0.04243. In percentage terms this is a gain of close to 110%.

Read more: https://blog.fxopen.com/dash-surges-by-110-percent/

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The Securities and Exchanges Commission decided to reject the first US bitcoin ETF. Prices initially crashed on the decision but quickly recovered. Litecoin fell on the ETF decision as well but it later recovered all losses.

SEC Rejects Bitcoin ETF

The US Securities and Exchanges Commission decided to reject a rule change that would permit the listing of the first US bitcoin ETF. Prices initially crashed by over $200, from $1246 to a low of $1,040 on FXOpen. Other exchanges saw similar 20% declines.

Read more: https://blog.fxopen.com/sec-rejects-bitcoin-etf/

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It’s been a great week for altcoins as almost all of them gained ground. Some like Peercoin and Namecoin gained substantially. Peercoin doubled since our last update while Namecoin more than tripled in value. We are clearly in a major rally (or bubble) depending on how you look at things.

Peercoin Prices Double

Peercoin continued the uptrend that started back in February. We are currently quoted at $0.695, over 100% above the $0.322 price noted two weeks ago.

Read more: https://blog.fxopen.com/altcoins-surge-in-major-rally/

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Bitcoin prices fell as fears reemerged about a contentious hard fork last week. Litecoin initially followed the decline but later clawed back some losses.

Bitcoin Falls on Fork Fears

Bitcoin fell over 12 percent since our last update as a contentious hard fork scenario became a possibility. Prices dipped as low as $956 on Fxopen (BTC-E) and $930-$940 on other exchanges. We have since recovered some of the losses but BTC/USD remains in a downtrend.

Read more: https://blog.fxopen.com/bitcoin-falls-on-fork-fears/

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Both Dash and Ether more then doubled in price since our update 14 days ago. One Dash is now selling for 0.096 BTC or over $100 a piece.

Dash Hits Over $100 Per Coin

Dash prices hit the 100 mark versus the US Dollar last week. We are currently trading at $103 dollars per coin. The move has been equally violent in the DSH/BTC pair we follow, with prices surging to a high of 0.01265 on March 18th before crashing down to a low of 0.08024 BTC few days later.

Read more: https://blog.fxopen.com/dash-ether-double-in-price/

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Lots of volatility but little price change. This is how we can sum up the last seven days in BTC and LTC. Both cryptos are currently quoted less then 1 percent away from the price noted last Tuesday. Bitcoin is trading at $1057 versus $1062 back then, while LTC/USD is quoted at $4.124 vs $4.120 dollars per coin.

Lots of Volatility, Little Price Change

If you were gone for a week and just checked the price of bitcoin, you would’ve thought nothing major happened. While BTC is trading only half a percent away compared to last Tuesday, volatility is through the roof, as can be seen on the chart below.

Read more: https://blog.fxopen.com/lots-of-volatility-little-price-change/

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Both Peercoin and Namecoin are trading lower compared to two weeks ago. Peercoin is at $0.611 right now, down by almost 12 percent, while NMC is down by a much larger 22 percent.

Peercoin Loses Some Gains

Peercoin lost some of the gains made during the rally. Prices fell from a high of $0.863 on March 16th to a low of $0.48 just a few days later. From here we stabilized somewhat and we’ve been trading mostly range-bound around 50-60 cents per coin.

Read more: https://blog.fxopen.com/peercoin-and-namecoin-give-up-some-gains/

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Both of the coins we follow on Tuesdays are up since the last update. Bitcoin is trading at $1,147 right now, up from $1,057 last Tuesday. It’s little brother Litecoin is up substantially to $9.03 on segwit implementation hopes. As usual we will first cover bitcoin then come back to LTC later in the article.

Bitcoin Ends Downtrend

With a non-stop rally during the previous seven days bitcoin has ended the downtrend and is now back in neutral mode. The daily chart below shows the large range we’re trading in right now.

Read more: https://blog.fxopen.com/bitcoin-higher-litecoin-surges-to-9/

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Dash prices had a sharp drop since our last update and not only ended the uptrend but entered a bear market on the daily charts. Ether ended its rally as well but didn’t take out any important support levels in the previous two weeks.

Ether Back in Neutral Mode

Ether prices are now in neutral mode on the daily charts. The drop took us to a low of 0.03534 BTC on Fxopen, from as high as 0.05805 on March 25th. The sharp correction is visible on the chart below.

Read more: https://blog.fxopen.com/dash-and-ether-rallies-end/

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Bitcoin continues the slow but unrelenting rally. We’re currently quoted at $1,190 dollars per coin, up from $1,147 last week. Litecoin prices are up too, albeit with much higher volatility.

Bitcoin Enters Bull Market

Bitcoin has technically entered a bull market again on the daily charts. We’re trading at $1,190 right now, up by 3.8 percent since last week.

Read more: https://blog.fxopen.com/bitcoin-rallies-as-altcoins-falter/

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Both Namecoin and Peercoin have continued their rallies and are now quoted above 80 cents per coin. We’ll start with PPC/USD and get back to Namecoin later in the article.

Peercoin Rallies by 41 Percent

Peercoin prices rallied by over 41 percent compared to two weeks ago. We are currently quoted at $0.851, 24 cents above the $0.611 price noted in our previous PPC article.

Read more: https://blog.fxopen.com/namecoin-peercoin-continue-rallies/

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The battle for segwit has moved from bitcoin to litecoin as the two camps are engaging in all-out mining war. Litecoin prices swung back and forth widely since our last update as a result. But first let’s go over BTC and as usual we’ll come back to Litecoin later in this article.

Bitfinex Stops Deposits, Price Spikes

More drama in the crypto arena this week and the star is again Bitfinex. The embattled exchange stopped all deposits yesterday, adding to market fears about solvency problems. It’s unclear if the deposit block was instituted by their Taiwanese banking partners or by Bitfinex themselves. The wording of their announcement implies the first option. Few weeks ago Bitfinex was forced to stop USD withdrawals after Wells Fargo blocked their wire transfers. Initially the exchange filled a suit against WF but this was later dropped.

Read more: https://blog.fxopen.com/segwit-battle-moves-to-litecoin/

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Ether and Dash have traded mostly range-bound during the previous two weeks. Ether is up by 1.8 percent since our previous update while Dash is down by 2.5 percent.

Ether Slightly Higher

Ether is quoted at 0.03972 right now, from 0.039 flat in our previous ETH article. In percentage terms, this is a move of only 1.8 percent. This is a very low price change for two weeks in the crypto-world. It underscores the current neutral state of ETH/BTC.

Read more: https://blog.fxopen.com/ether-dash-mostly-range-bound/

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A last minute segwit deal between the Litecoin creator and miners lead to a surge in LTC prices. Bitcoin did okay too, up by $31 dollars or 2.5 percent since last Tuesday.

Litecoin Surges on Segwit Deal

The Litecoin creator Charlie Lee and holdout miners reached a compromise deal on April 22nd. According to the circulated announcement, the miners will signal segwit in exchange for a ‘bigger blocks’ solution. The bigger blocks fix will happen when they are over 50% full, which is probably many years in the future. Most LTC blocks are currently well below the 1 MB maximum.

Read more: https://blog.fxopen.com/litecoin-surges-on-segwit-deal/

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The general crypto bubble continues for another week. Pretty much everything is rallying against the US Dollar and this is the case with PPC and NMC as well. This week both alts broke above the important $1 parity level and are quoted well above it at the moment.

Peercoin Gains 26 Percent

Peercoin prices are trading 26 percent higher compared to two weeks ago. One coin is selling for $1.135 right now, compared to $0.851 in our previous update. Peercoin is the beneficiary of the general uptrend in the crypto market. Bitcoin is trading near the all-time high and many alts are hitting multi-year highs as a result. It’s hard to say when the current bubble will end but for now, it pays to be long.

Read more: https://blog.fxopen.com/peercoin-and-namecoin-march-on/

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Global bitcoin prices seem to be pulled higher by the continuing problems at Bitfinex. One coin is selling for $1,390 right now, a gain of $150 compared to one week ago. Litecoin is up too albeit at a smaller clip.

Bitcoin Gains on Bitfinex Problems?

Bitcoin continues to gain ground, currently quoted at $1,390 dollars. This is a gain of 12 percent since last Tuesday. Prices on troubled exchange Bitfinex are trading at $1,577 dollars right now. Most USA-based exchanges are quoting BTC/USD around $1,470 dollars. On a side note, Chinese exchanges are still well below USD sites at $1,270 dollars per coin.

Read more: https://blog.fxopen.com/bitcoin-pulled-higher-litecoin-stable/