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Today is shaping up to be another terrible day for the cryptocurrency industry. All of the top currencies are in the deep red right now, with some of them suffering bigger setbacks compared to others. The Bitcoin Cash price, for example, has dropped below $ 1,200 once again, yet it remains to be seen how long this negative trend will remain in place.
Most of the gains noted by various cryptocurrencies in the past 24 hours are being eradicated as of right now. There hasn’t been solid positive momentum in this industry all year long, as any uptrend is pushed down almost immediately. The NEO price still shows some positive momentum, although it will undoubtedly end up in the red later today as well.
Even though yesterday seemed to be a pretty positive day for most cryptocurrencies, today is completely different. More specifically, all currencies are in the red right now, with the NEO price dropped almost below $ 60 in the process. It is evident things will continue to remain volatile for quite some to come, but there will be a positive trend at some point later this year. For now, users will have to contend with the ups and downs as they come.
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While Bitmain creates new ASIC Antminers to mine any cryptocurrency running Equihash proof of work, the affected cryptocurrencies look at measures to prevent it. New York has a lot of news happening this week, with the New York Stock Exchange’s parent company looking to get into bitcoin trading and Blockchain Week kicking off with the CDX Summit. South Korea continues to be a leader in blockchain technology, rolling out new partnerships with neighboring countries, and building out more blockchain technology.
Featured stories by Colin Harper, Nick Marinoff and Aaron van Wirdum.
It seems most cryptocurrencies will remain in the red all day long, but there is some hope at the end of the tunnel as well. If the Stellar price is any indication, we may see some positive momentum in the coming hours and days. More specifically, the Stellar price has risen by 3.89% over the past 24 hours, even though it is the only top cryptocurrency in the green right now.
The blockchain is widely considered to be one of the most revolutionary forms of technology in modern society. While it is typically used for recording financial transactions in real time, the blockchain is also being studied and explored by enterprises around the world for its abilities to store additional data in a safe and cost-effective manner.
The BTC markets have rallied to test resistance at the $ 10,000 area. Despite gaining 60% in just four weeks, BTC’s recent gains have been significantly overshadowed by those produced by many top performing cryptocurrency markets, including Bitcoin Cash – which has gained more than 225% since it’s early April lows.
Also Read: Markets Update: BCH Prices See Uncorrelated Movement Gain 13%
The price of BTC has continued to make consistent gains, bouncing by almost 60% from the recent low of roughly $ 6,400 to the current prices of $ 9,600. When measuring the bounce in relation to the bear trend of early-2018, we can see that the price of BTC appears to be trying to consolidate at the 0.236% retracement area.
Cryptocurrency markets are seeing some gains today as most digital assets are up over the past 24-hours between 3-15 percent. Bitcoin Cash (BCH) values spiked considerably during the day’s trading sessions on May 5 touching a high of $ 1,740 per BCH. At the time of publication, the price of BCH is hovering around $ 1,720 per coin, adding another $ 500Mn in 24-hour trade volume.
Also read: Court Orders Chilean Banks to Re-Open Crypto Exchange Accounts
INGOT Group has created a first- of-its-kind blockchain ecosystem named INGOT Coin that promises to link the existing financial markets and the rapidly emerging crypto markets like never before. INGOT Group claims that this specialized ecosystem will make the customers more confident and increase market liquidity, while providing more efficient market pricing and access to funds for a wide variety of stakeholders.
May 03, 2018
