Market Update: Cryptocurrency prices rebound after week's crash. - Buy Bitcoins News profitable bitcoin Mining


  • Market Update: Cryptocurrency prices rebound after week's crash.

    The price of Bitcoin seems to have found some stability over the past 24 hours, over the past few weeks have risen in value followed by a 30 percent drop in value the next day. Since the fall, the price has rebounded and has been around US $ 2250-2300 per BTC at the time of writing.

    Buyers pressure returns to Bitcoin market after a 30 percent drop in markets

    Last week was an exciting time for cryptocurrency traders as many of the few digital divides peaked at all times on May 24. The value of Btcoin reached new highs across all global exchanges which followed a short-term trend to the low- $ 2000 mark. 
    Many buyers have taken a significant fall to the ranges of $ 1800-1600 would give way, but so far these predictions never materialized. Since bitcoin rebound from its lowest point, this has been consolidated between $ 2200-2300 three days ago. For now, there is a touch of pressure from the bulls because the price continued, but it is significantly weaker than last week.

    Technical Analysis

    Technical Analyst still suggest that the bear market may continue and that we see it now may extend ' dead cat bounce .' In the past couple of months, we have reported that the indicators such as the 100 simple moving average (SMA) were over the larger 200 SMA term in almost every price analysis. However, things have changed like that of the 100 SMA indicating that there will be a bearish trend will not end.

    However, the Relative Strength Index (RSI) and Stochastic oscillators still show the price is over-bought and the buyers can take advantage and in the near future. The price of the Bitcoin bounced was unexpected and have changed the expectations and predictions of the buyers, but a good majority is still assuming that the rebound is only a bull trap . If the raise is broken in the range of $ 2400, there is a good chance we can jump from the low and aim for the all-time highs ever.

    A look at the altcoins markets

    More Interesting : Most Promising Altcoins 2017 Alternative cryptocurrency markets have all been following the bitcoin in the past few weeks. One notable altcoin that has been performing very well is Ethereum (ETH), which is $ 205 per ETH at the present time. On May 30, Ethereum's sales volumes surpassed those of Bitcoin's markets for the first time in history and currently command a market capitalization of $ 19 billion market capitalization. The third largest market capitalization aided by Ripple (XRP) has had a significant dive and has not really recovered much of the price stands at around $ 0.23 cents per XRP.

    Ethereum's sales volume surpasses the BTC volume for the first time in history.



    The fourth highest alternative market value of cryptocurrency NEM retract the touch and is resting at $ 0.21 cents per token. Other altcoins have also rebounded since the fall including Ethereum Classic (ETC $ 17), Litecoin (LTC $ 25), Dash ($ 119), Monero (XMR $ 43), Bytecoin (BCN $ 0.002) and Stratis (STRAT $ 4.50). Another currency that was received with a lot of volume was Tether, which holds the fifth highest volume since many buyers seem to have used the token as a refuge for the fall.

    The verdict

    For now, the price of Bitcoin has appeared on the floor he found temporarily and remained relatively stable with a few lights here and aya. Some bears seemed quite confident that the horrendous bear market has been warned, but many buyers are still doubtful if the bearish trend is over. The good news from Russia have seemed that helped push the value of bitcoin up. However, talking to a scaling commitment has replaced some of the vitrolica energy that has given the 'community' bitcoin a bitter taste.

    Bear scenario: It is possible a second leg down can happen soon the continuous push of the price to lower levels. The fiat value of Bitcoin can slip to the $ 1800-1600 range if the bulls get away from fatigue. At the moment looking at the orders of books of the popular bags showing a strong floor in the mark of $ 2000 for the moment.

    Scenario Bull: The price of Bitcoin has jumped back and has shown resistance after last week of losses. To bring speed up, this will help in cryptocurrency to  cross the $ 2400 range. Breaking the resistance and bringing the digital assets to a higher level and possible to bring them closer to the last week and a new high of all time.

    What do you think about the price of bitcoin remarking for $ 2250-2300? Do you think bitcoin will continue to rise to a higher level? Or do you think the bears will lower the price even more? Let us know in the comments below.

    Notice : Articles related to the Bitcoin price and market updates are intended for information purposes only should not be considered as a board of sale. Neither nor the author are liable for potential profits or losses, since the final decision to conduct an order made by the readers. Remember that only those who have control of your private key are actually in control of the "money".

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