Dash is seeking direction after hitting new highs.
After reaching a new record above $500 on Sunday, the sixth-largest cryptocurrency by market capitalization fell back to near $350 today before regaining poise above the $400 mark.
As of writing, the dash-U.S. dollar (DASH/USD) exchange rate is $403. As per CoinMarketCap, the cryptocurrency is up 4.
The price of bitcoin appears to be stabilizing.
Amid what has been a wild weekend in the crypto markets, BTC is now down just 5 percent in the last 24 hours to a value of $6,102. Yet, that number doesn't tell the whole story, as the cryptocurrency has been in the midst of heavy volatility after hitting a near three-week low below $5,600 earlier today.
As the charts show, the record rally from the September lows below $3,000 now appears to have topped out at $7,850 last week after a decision to abandon a controversial software upgrade triggered an unwinding of trading positions.
Bitcoin is in recovery mode today.
As of writing, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $6,523, having reached a high of $6,559 so far. As per CoinMarketCap, the cryptocurrency has gained 3.54 percent in the last 24 hours. Chart analysis indicates that BTC has retraced 38.2 percent of the sell-off from Nov. 8 high to Nov. 12 low.
Prices hit a 2.5 week low near $5,500 on Sunday – a near 30 percent sell-off from last week's record highs that was triggered by the suspension of the Segwit2x hard fork, a software upgrade that might have brought a transactional boost for the cryptocurrency.
The price of bitcoin is down more than 8 percent today, continuing losses that began after the cryptocurrency slipped below the $7,000 level.
Markets have fallen to as low as $6,475.40, according to the CoinDesk Bitcoin Price Index (BPI), the lowest level reported since Nov. 1 (when they traded between $6,357 and $6,750.17). The move below $7,000 marked a reversal of the market gains seen earlier this week that pushed the price of bitcoin close to $7,900.
Bitcoin remains on the back foot ahead of the weekend.
According to Coindesk's Bitcoin Price Index, the number one cryptocurrency by total network value fell below $7,000 at 11:25 UTC this morning and hit an eight-day low of$6,793. A minor bid wave seen during the Asian session today quickly ran out of steam above $7,300.
At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is trading at $6,799 levels.
The price of ether, ethereum's native token, is gaining altitude today.
At press time, the ether-U.S. dollar (ETH/USD) exchange rate is at $322. As per CoinMarketCap, Ether has gained 6.8 percent in the last 24 hours. Week-on-week, the cryptocurrency is up 11.92 percent, while on a monthly basis, it is carrying 5.6 percent gain.
The rise indicates that ether could be finally putting an end to a near three-week-long consolidation that saw prices restricted to a trading range of $280–$312.
Litecoin got its mojo back this week.
Having spent a better part of the last month defending the key trend line support, the cryptocurrency is finally exploring above the $60 mark – clocking a three-week high of $63.71 yesterday.
At press time, the litecoin-U.S. dollar (LTC/USD) exchange rate is at $62.00 levels. As per CoinMarketCap, LTC has seen a 7.46 percent appreciation in value over the last 24 hours.
Having refused to succumb to bearish technical pressures, the world's largest cryptocurrency is better bid today.
At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $7,511 levels on CoinDesk's Bitcoin Price Index. As per CoinMarketCap, BTC has gained 4.
Goldman Sachs analysts predicted that the price of bitcoin could surge as high as $8,000 in a note distributed to clients earlier this week.
According to Business Insider and Bloomberg, the note came as the cryptocurrency's price cleared a new all-time high above $7,600.
Bitcoin traders seem a touch tentative today.
At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $7,200 levels. BTC prices dropped to a four-day low below $6,950 yesterday before regaining poise, although the 5-day moving average (located above $7,200) is proving tough to crack.
So has the pullback run out of steam? Comments on social media indicate that, while some traders see the potential for a healthy correction to $6,500, others predict the market is likely to stay volatile ahead of the expected Segwit2x hard fork.
The company behind a recent effort to launch a cryptocurrency-tied exchange-traded fund (ETF) has unveiled a suite of new price indices related to bitcoin and other digital assets.
New York-based VanEck announced today that it is partnering with UK data firm CryptoCompare to launch the indices, which include several that focus on specific cryptocurrencies like bitcoin and ether, as well as others that trace the movements of multiple assets.
Ethereum classic rose to eight-week high today – its highest level since Sep. 9.
At press time, the fork of the etheruem blockchain is trading at around $15.00. As per CoinMarketCap, the ninth largest cryptocurrency by market capitalization has gained 16.90 percent in the last 24 hours. Week-on-week, ETC is up 38.88 percent, while on a monthly basis, it is carrying 21.68 percent gains.
Volume figures show the rally has been in part fueled by Korean exchanges offering trading in ethereum classic to South Korean won (ETC/KRW) pairs.
Following yet another record high at the weekend, bitcoin is trading on the back foot today.
The world's largest cryptocurrency rose to fresh all-time high of $7,601.39 on Sunday, as per CoinDesk's Bitcoin Price Index (BPI). However, the pop was short-lived, and prices soon fell back below the previous record high of $7,454.05 recorded Nov. 3.
Notably, this is the third time in the last week that BTC has failed to hold above $7,400, despite having clocked a new high.
Ripple's XRP cryptocurrency has completed the round trip at press time.
The ripple-U.S. dollar (XRP/USD) exchange rate jumped to a high of $0.23 at 01:10 UTC today, only to fall back to the session's opening price of $0.21. As per CoinMarketCap, the cryptocurrency is trading at $0.20 and has gained 10.34 percent in the last 24 hours.
But while the gains are in line with action seen in most of the market, social media suggests XRP may be gaining on bullish statements.
The bitcoin bull market may be reaching a point of exhaustion.
After the cryptocurrency printed a fresh record high of $7,454.05 on Coindesk's Bitcoin Price Index (BPI) earlier today, BTC has failed twice to hold above $7,400 mark.
The price action, when viewed on the technical chart, shows a "textbook" bull market exhaustion pattern – the first legitimate sign of a tired market after days of solid rally.
Back to square one?
As per CoinDesk Bitcoin Price Index (BPI) data, bitcoin smashed previous price records to hit $7,355.35 at 11:17 UTC today, only to crash back below $7,000 soon after. At press time, bitcoin is trading at $7,011.
As per CoinMarketCap, the cryptocurrency has gained 7.19 percent in the last 24 hours. With the continued record-breaking run fueling accusations that bitcoin is in a bubble, the cryptocurrency has rallied more than 120 percent from the September lows below $3,000.
Bitcoin prices have continued to climb today, passing $6,500 for the first time ever.
The gains come soon after the number world's largest cryptocurrency hit previous highs in recent days, passing $6,300 on Oct. 29, and then $6,400 yesterday.
At press time, the price of a bitcoin is at the fresh high of $6,522, according to CoinDesk's Bitcoin Price Index – a 1.16 percent gain for the day so far. The digital currency started the session at $6,447.
Bitcoin has once again smashed expectations.
The largest cryptocurrency by total value hit record highs on CoinDesk's Bitcoin Price Index (BPI) this morning, with prices reaching $6,600 at 11:00 UTC. At the time of writing, the bitcoin-U.S. dollar (BTC/USD) exchange rate has dropped somewhat to $6,498, but that said, BTC is up 3.
The bitcoin cash rally is back on.
At press time, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate hit a four-day high of $505.90 on the day's trading, before dipping lower to $487.47. As per CoinMarketCap, the cryptocurrency has witnessed a 9 percent gain in value over the last 24 hours.
Possibly driving the rally, Bitcoin ABC – the most widely used version of the bitcoin cash software – released upgrade 0.
Bitcoin cash is trending down amid news of an upcoming technical change.
After rallying more than 30 percent over the last week, with prices clocking a five-week high of $522.95 on Sunday, the bitcoin cash-US dollar (BCH/USD) exchange rate is $438 at press time, up slightly from a low of $415 yesterday.
However, the move isn't without cause, as an attempt to update the project's underlying software appears to have traders slightly spooked.
Bitcoin isn't the only cryptocurrency trading at all-time highs today.
At press time, the vertcoin-U.S. dollar (VTC/USD) exchange rate is $5.55, its highest level ever. Week-on-week, VTC has witnessed a 69 percent appreciation in value, while on a monthly basis, its price has gone up by an astonishing 431 percent.
So, what's behind the rally? The boost for the lesser-known crypto appears to be occurring as it closes in on a reduction of its block reward, expected on Dec.
Bitcoin's rally is showing no signs of abating.
Prices surged to record levels on the CoinDesk Bitcoin Price Index (BPI) yesterday, with the world's largest cryptocurrency clocking a new all-time high of $6,306.58. With the push, bitcoin passed its previous high of $6,183 set on Oct. 21. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is $6,218.
As for why the price is trending higher, it seems there was an absence of strong news drivers.
After failing to breach $6,000, bitcoin prices have again taken a downturn.
At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is $5,850, but of greater interest to traders is what this means for the ongoing rally, which has pushed bitcoin up from an Oct. 25 low of $5,376.
Prices on the CoinDesk Bitcoin Price Index (BPI) have twice neared the $6,000 mark in the last 24 hours, yet both attempts have stalled.