Bitcoin Cash recovers as crypto market trades sideways

The cryptocurrency market continued to trade sideways on Wednesday after dropping slightly in the past 48 hours. After a day of trading below the $9,000 mark, BTC regained the $9,100 mark on Wednesday morning although trading volumes remained slightly low.

Bitcoin Cash retraced slightly from its intra week highs on Tuesday; however, it was recovering well on Wednesday to trade above the $1,300 mark and was well on course to reach the $1,400 mark if a sustained rally takes place over the next few days. There has been a consistent spread of good news for this currency as it continues to be involved in payment agreements and other news that is generally positive.

The third largest currency by market cap, Ripple, also had a generally positive 24 hours, regaining the $0.80 mark with ease to trade at around $0.84 on Wednesday morning. Ripple also continued to be in the news with more banks and companies adopting the technology, so it must only be a matter of time before a jump in price is seen. Another larger market cap currency, Litecoin, appeared to be on a slight recovery as it was once again flirting with the $150 mark on Wednesday morning after having dropped in the low $140’s over the past days.

Ethereum remained relatively stable and was once again close to the $680 mark in the past hours after having dropped as low as $650 on Tuesday, when the market correction took place. The currency’s founder Vitalik Buterin seems to be in the news constantly nowadays and that can only have an effect on the currency’s short- to medium-term prospects as it continues to garner exposure. Ethereum Classic held on to the small gains it registered on Wednesday and was looking to breach the $22 mark if a rally takes place.

Currencies with smaller market caps had a slightly mixed day overall. XLM was up by around 4%, only to fall back in the past hours but is holding well at the $0.43 mark. EOS seems to have stabilized at the $18-19 mark after the steep rises of last week, whilst Dash is also stable in the $450-480 range. Other currencies such as TRON and VERGE had a mixed day with the former losing some of its steep gains achieved last week and the latter shooting up on high turnover.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

Bitcoin Cash jumps to $830 as BTC takes a nosedive

After a relatively positive Tuesday when most cryptocurrencies posted strong gains, SegWit-Coin BTC (also referred to as Bitcoin legacy or Core) took a considerable tumble in the late evening with the price dropping from around $8,100 to $7,850 in a matter of minutes.

The price drop was caused by reports that the New York Attorney General has been gearing up to investigate cryptocurrency exchange business. At press time, SegWit-Coin BTC had recovered slightly and was trading at around $8,100. Strangely, however, it was only SegWit-Coin BTC that took a big tumble—other cryptocurrencies holding onto the gains made during the day with relative ease.

‘Forget BTC’

Bitcoin Cash was amongst those currencies which posted strong gains during the day and in fact, it was trading at around $780 before the news struck, only to jump to $830 level at press time—a positive movement overall.

Incidentally, investor Brian Kelly went on CNBC’s Fast Money on Tuesday, where he declared that now was the time to buy Bitcoin Cash, adding that with the filing deadline for tax purposes in the United States now past, there could be a huge interest in cryptocurrencies yet again.

Kelly pointed out that Bitcoin Cash has seen “increased volatility” as well as “increased volume” in the past month—a clear indication of the cryptocurrency’s potential for growth.

“Those are the first things traders look at, that I look at, to say, something might be changing here,” Kelly said, according to CNBC. “If we get that breakout, you’re looking at higher moves.”

Meanwhile, Litecoin also posted the strongest gains on Tuesday, when it rose to almost $140 during intraday trading although it fell back slightly to the $137 mark at press time. News that the coin founded by Charlie Lee was to be listed on a new exchange undoubtedly added considerable buzz to the toke explaining the price rise. However, the currency is still a very long way from its all-time high of $350 registered in December.

Stellar Lumens was another currency that shot upwards over the past 24 hours breaching the $0.31 level and looking ripe for further gains over the next few days. In fact, Stellar is the currency which has recovered best from the March crash and is now only a few points away from its February levels. As a way of contrast, Ethereum is performing rather sluggishly of late since it is playing around the $500 mark with very small movements either way and no sign of real upward momentum as yet. Ethereum Classic is also seemingly stuck at the $16 level with not much movement either way, and it will have to be a significant push for the currency to breach the $20 level.

Other cryptocurrencies with smaller market caps such as Neo and Dash saw smaller increases overall but were still generally up by around 3-5%, with NEO approaching the psychologically significant $70 level where it could then be positioned for a good breakout.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Bitcoin Cash regains foothold amid largely neutral crypto market

The cryptocurrency market remained largely neutral on Tuesday with SegWit-Coin BTC (also referred to as Bitcoin Legacy or Core) trading between an extremely tight range of around $100, oscillating between $6720 and $6850 with some activity at the high end of the range. Bitcoin Cash performed somewhat better and regained the $650 mark on Wednesday morning and was looking to move forward to begin retesting the $700 mark although some strength will be needed to achieve that target.

Ethereum, the second largest cryptocurrency by market cap, showed a considerable increase of around 10% from lows of $375 to around $415, and is looking to begin testing the $450 figure again. In fact, when compared to SegWit-Coin BTC, Ethereum has performed much better over the past 48 hours with Monday’s drop largely cancelled out. The same cannot be said for the third largest currency by market cap, Ripple, which remained languishing between the $0.47 and $0.48 level—an extremely tight range which indicates weak turnover and not much of a recovery in sight. Although Ripple has consistently been in the news for good things with a lot of positive deals being announced, the price has failed to move although there are signs that it could be positioning itself for a breakout in the short to medium term.

Other currencies were relatively stable over the past 48 hours, with Litecoin also trading in a tight range between $113 and $115. Weak buy volumes for this currency have consistently pushed the price down and it seems to be suffering to gain the $120 mark again, although it had easily reached the $125 mark on Monday before dropping back. Dash also traded stably at just below the $300 mark, although it looks like it might regain that position quite soon and perhaps make a charge for $400. Ethereum Classic had another disappointing day stuck at its 2018 low of around $13.50, and there appears to be absolutely no momentum for it to move forward in the short term.

Of the currencies with smaller market caps, NEO continued moving slightly forward with a 3% gain to trade at the $54 level. This currency appears to be positioning itself for a breakout in the short term although again buy volumes are still rather weak. Stellar again retook the $0.20 level but it is still very far away from its bull run when it reached the $0.50 mark in mid to late February. All in all, the whole market appears to be rather staid with very little movement over the past 48 hours apart from a few pumps and dumps on currencies such as Verge and Tron, with the former having gone up by around 15% while others such as VIA, WAN and ELF were up by as much as 30% against SegWit-Coin BTC, although their levels against the U.S. dolar are still not so good.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Markets face short-lived revival as crypto prices drop again

The so called revival in April has certainly not taken off yet.

After a relatively positive Monday morning where all major cryptocurrencies were on the rise including SegWit-Coin BTC, the rest of the day was negative with steep losses covering a wide swath of cryptocurrencies.

The chief drop was experienced by SegWit-Coin BTC (also known as Bitcoin Legacy or Core) itself, which was down by around 5% to $6,600 having traded at $7100 only a few hours earlier. In fact, the drop by about $500 in price was experienced over a few minutes as a large sale order was dumped across exchanges, having a detrimental effect on the price of other cryptocurrencies, too.

Ethereum, which was charging forward and was trading close to $430 suffered a steep 8% drop to around $380 also in a matter of minutes before recovering slightly to close to the $400 mark again. However, one has to note that Ethereum is almost 200% down from its all-time high of $1,400 achieved in January, and is showing absolutely no signs of getting anywhere near that price anytime soon. The same went for Ethereum’s sister currency Ethereum Classic, which seemed to have recovered to over $14 but fell back to well below the $13 mark testing new lows for 2018.

Bitcoin Cash (BCH) had also been plotting a revival and was already close to the $700 mark having traded at $680 for a few hours. However, the crash in SegWit-Coin BTC also affected BCH severely and it was down to around $630 in a matter of minutes, although there appears to be some support at that level. The same could be said for other larger cryptocurrencies by market cap such as Ripple, which had easily cleared the psychologically significant $0.50 mark but dropped back to $0.47 just after the crash. Litecoin, which had been flirting with the $120 mark also fell back to around $113, whilst Dash had another bad time falling back to below the $300 level. These currencies are all trading at their November prices when prices were relatively low at the time.

After having an impressive run where it rose by around 13%, NEO lost practically all of its gains and was struggling to keep the $50 mark at press time. Stellar Lumens was also disappointing since it once again fell below the $0.20 level and was also expected to drop further on low sale volumes.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Bitcoin Cash regains its mojo as crypto markets begins recovery

After a torrid week where the cryptocurrency market reached new lows with SegWit-Coin BTC (also known as Bitcoin Legacy or Core) dropping below $6,500, it appeared that the past few days have shown some indication of a slight recovery.

On Sunday, SegWit-Coin BTC made a slight push to reach the $7,000 mark and then rose above the $7,100 mark with momentum in the $7,300-$7,500 buying region. Bitcoin Cash also recorded a good recovery from previous lows, rising to around $660 from a low of $610 only a few days ago. Bitcoin Cash appeared to be moving forward in the coming days as news of a hard fork in May create interest and demand in the currency.

The other currency which established a considerable gain over the past few days was Ethereum, which rose to around $410 and appeared to be making a push for the $450 mark after having pushed over the psychologically significant $400 mark. Litecoin was also gaining traction, and, after having been stuck in the $113-$117 mark for several days, managed to regain the psychologically important $120 mark with further increased expected in the next few hours if the good news regarding the currency was anything to go by. Ethereum Classic was also up and regained the $14 mark, although the increase was slightly muted.

Ripple also started a mini recovery and easily regained the $0.50 mark with buy volumes expecting it to make a charge beyond the $0.60 mark soon. XRP was in the news last week, following reports that it had offered large sums of money to U.S. exchanges to list the coin on their platforms—but the deals came to nought.

Dash was also showing signs of recovery, where it was holding well above the $300 mark to trade at around $318 at press time on Monday. Stellar was also showing signs of revival having gone across the $20 mark and was trading at around $0.21 at press time.

However, the currency which showed the largest gain over the past few hours was NEO, which rose by a staggering 13% to reach the $54 mark having languished in the $45-47 levels over the past few days. It seems that good news regarding development competition results were behind this recent surge although one has to be wary if these gains are to be sustained.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/bitcoin-cash-regains-mojo-crypto-markets-begins-recovery/

Bitcoin Cash price rises 10% as crypto market continues muted recovery

The cryptocurrency market continued on a slightly muted recovery on Tuesday, with legacy Bitcoin (BTC) price moving from around $7,300-$7,500, which was a rather tight trading range and it appeared that the largest cryptocurrency by market cap has been finding it hard to sustain the $7,500 level. Other currencies, however, saw a substantial increase in their values with Litecoin surging ahead by around 15% at one point to top the $130 level, although it did fall back slightly to just below that mark on Wednesday morning.

Of the other cryptocurrencies by larger market cap, Ethereum increased considerably and easily rose above the psychologically significant $400 level, although it once again failed to sustain an upward momentum with the rally halting at around the $410 mark before dropping slightly again to $405. Ethereum’s sister currency, Ethereum Classic, was also up by around 9% on Tuesday and was flirting with the $15 mark, although it fell back slightly to around $14.60 on Wednesday morning as selling pressure began to have an effect.

Bitcoin Cash performed excellently on Tuesday rising by as much as 10% at one point before dropping back slightly to the $680 level, having gone over the $700 level at one point. However, even with Bitcoin Cash, the recovery seems rather muted and it might drop again in the coming hours as selling pressure comes to bear. It appears that the bear market is still not over even with these strongly positioned currencies by market cap.

Ripple also had a good day overall and rose by 10% to attain the $0.53 mark although once again, the recovery needs to be substantially more than that if it is to achieve levels attained in December. Dash also had an excellent day recovering by around 10% to trade at around $330 and there appeared to be more pressure for forward momentum. Of the currencies with a smaller market cap, Stellar was the only one that really lagged behind with a relatively minor 3% increase that was eventually all lost by Wednesday morning. By contrast, NEO had an excellent day on Tuesday and rose by well over 11% at one point to trade at $53, and there appeared to be momentum for a good push. However, this currency has lost well over 60% of its value from mid-March and is very far from recovering levels previously set in December, when it was trading at around $190.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/bitcoin-cash-price-rises-10-crypto-market-continues-muted-recovery/

After severe slump, cryptocurrency market commences recovery

After almost two weeks of a severe slump in the cryptocurrency markets where values dropped to all-time lows for 2018, there appeared to have been a slight recovery on Monday evening and Tuesday morning as a rally in the price of legacy Bitcoin (BTC) also lifted all major cryptocurrencies. The price for the largest cryptocurrency by market cap rose to around $7,350, a rise of 8% over the lows of Sunday where the coin had even touched the $6,400 mark.

Bitcoin Cash also posted a strong recovery rising by as much as 8%, too, for a price of around $690 and it appeared to be well on its way to exceed the $700 mark if the rally persists.

Other larger cryptocurrencies by market cap also saw a substantial increase in their prices, with Ethereum jumping to $395 with the psychologically significant $400 in sight. Analysts are stating that this could mean a substantial rally in the Ethereum price if the $400 level is breached. Ripple was also up to around $0.51 having breached the psychologically significant $0.50c mark, and there were indications that a further spike could be in the offing if volumes persist. Litecoin was also up by around 6% and was trading at around $122 at press time, indicating that there was support at the $122 level. Dash also recovered well over the $300 mark and was trading at $320 at press time, although volumes were quite low.

Recovery was also seen among cryptocurrencies with smaller caps. The chief movers here were Stellar and NEO with double digit increases at one point, although these fell back eventually. Stellar registered an impressive 15% increase at one point to around $0.24, but then fell back to trade at $0.235 at press time. Ethereum Classic was up to almost $15; while NEO also rose 10% to $53 before falling slightly to around $51 at press time. However, volumes seem to be well supported here also. Other up and coming currencies like TRON and VERGE also saw a substantial increase in their price when traded against Bitcoin with the latter registering a double-digit increase, whilst the former clawed back some of the past day’s losses.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/severe-slump-cryptocurrency-market-commences-recovery/

Charlie Lee, Litecoin Foundation apologize for LitePay collapse

The creator of Litecoin has issued an apology for the abrupt collapse of Litecoin-based payment startup LitePay.

The startup, which promised to offer an LTC-powered debit card, as well as payment processing services for merchants, was suddenly shut down this week, raising suspicions of a so-called ‘exit scam’.

The news came just a matter of days after LitePay CEO Kenneth Asare hosted a Reddit AMA, where he was accused of evading direct questions, and sharing only vague details about the work of the company.

A statement published by the Litecoin Foundation on their website this week set out their concerns over the LitePay project, and offered apologies to those affected by its closure.

“Prior to [the closure of LitePay this week], the foundation had approached Kenneth regarding his less than transparent nature with the company and to express our, and the community’s, concerns regarding his recent Reddit AMA. It was at this time that Kenneth asked the foundation for more funds to continue operations,” according to the group.

The Litecoin Foundation said it has “refused any further funding” because Asare “was unable to provide a satisfactory picture of where the money had been spent and refused to go into exact details about the company and show objective evidence to back up his statements.”

“We are greatly disheartened that this saga has ended in this way and we apologize for not doing enough due diligence that could have uncovered some of these issues earlier…We are currently working hard to tighten our due diligence practices and ensure that this does not happen again,” the group said.

Litecoin founder Charlie Lee took to Twitter, where he expresses his apologies for his earlier optimism and support for the project: “Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs. I am sorry for having hyped up this company and vow to do better due diligence in the future.”

However, the foundation stressed that Litecoin was not dependent on LitePay or any other single company, and promised to continue to make Litecoin more accessible to users worldwide.

“The ecosystem is far bigger than one company and is continually growing with support from many others with market-ready products joining the space and fulfilling their promises to make it easier for the world to use Litecoin,” the group said.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/charlie-lee-litecoin-foundation-apologize-litepay-collapse/

Cryptocurrency market back on decline as bears hit back

After a week that saw legacy Bitcoin (BTC) hit the $9,000 mark, the cryptocurrency market experienced a slow decline over the weekend with every currency again in the red and some also dropping to lows not seen since early February. In fact BTC dropped almost 10% from its intra week high to touch the $8,300 mark although at press time it was trading closer to the $8,500 position.

Another big loser over the weekend was Ethereum Classic which saw its value slump to well below the $18 mark and was trading at $17.60 at press time. It seems that the cryptocurrency has dropped considerably from its highs of $40 registered just over a month ago with the slow decline affecting it quite badly overall. The same could be said for its bigger brother Ethereum, which saw its price decline to just over $510 and if the $500 line is breached, this could mean a complete collapse to the $400 position and further lower.

Ripple also lost another 7% overall and is once again trading close to the psychologically significant $0.60 mark which may indicate another steep fall soon. Ripple has lost well over 300% in the past two months and even the $1 mark looks very far away now. Of the other currencies with larger market cap, Bitcoin Cash fell to well below the $1,000 mark and was trading at around $965 at press time. It seems that even here, the days of the $4,000 values are well behind us and it could take many more months to reach that value again. Litecoin was perhaps the only stable currency since it did not lose all that much and was trading at around $158 at press time with the possibility of testing the $150 support line, although that still seems rather far off.

It was another disappointing weekend for the currencies with smaller market caps such as Stellar and NEO. The former registered a small decrease at least and was trading at around $0.24 at press time also indicating that it might breach further upward movement with a small increase over the past 24 hours. NEO however was considerably down by around 10% and was trading at around $0.65 with no seeming end in sight to the decline.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Cryptocurrency market back on decline as bears hit back

After a week that saw legacy Bitcoin (BTC) hit the $9,000 mark, the cryptocurrency market experienced a slow decline over the weekend with every currency again in the red and some also dropping to lows not seen since early February. In fact BTC dropped almost 10% from its intra week high to touch the $8,300 mark although at press time it was trading closer to the $8,500 position.

Another big loser over the weekend was Ethereum Classic which saw its value slump to well below the $18 mark and was trading at $17.60 at press time. It seems that the cryptocurrency has dropped considerably from its highs of $40 registered just over a month ago with the slow decline affecting it quite badly overall. The same could be said for its bigger brother Ethereum, which saw its price decline to just over $510 and if the $500 line is breached, this could mean a complete collapse to the $400 position and further lower.

Ripple also lost another 7% overall and is once again trading close to the psychologically significant $0.60 mark which may indicate another steep fall soon. Ripple has lost well over 300% in the past two months and even the $1 mark looks very far away now. Of the other currencies with larger market cap, Bitcoin Cash fell to well below the $1,000 mark and was trading at around $965 at press time. It seems that even here, the days of the $4,000 values are well behind us and it could take many more months to reach that value again. Litecoin was perhaps the only stable currency since it did not lose all that much and was trading at around $158 at press time with the possibility of testing the $150 support line, although that still seems rather far off.

It was another disappointing weekend for the currencies with smaller market caps such as Stellar and NEO. The former registered a small decrease at least and was trading at around $0.24 at press time also indicating that it might breach further upward movement with a small increase over the past 24 hours. NEO however was considerably down by around 10% and was trading at around $0.65 with no seeming end in sight to the decline.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/cryptocurrency-market-back-decline-bears-hit-back/

Cryptocurrencies end turbulent week with slight recovery

It was yet another turbulent and largely negative weekend for the vast majority of cryptocurrencies as further selling pressures affected prices all over the board. Legacy Bitcoin (BTC) fell to a monthly low of $7,200 before rebounding to around $8500 on Sunday evening with good support in that region. Bitcoin Cash also lost traction over the weekend with the price dropping in the low $800’s, but it also rebounded to reach the $950 level and was appearing to make a push for $1,000 before long.

One of the currencies which suffered most was Ripple which again saw its value slump to well below the $0.60 mark and at one point was trading at $0.55, but it eventually recovered and was trading at around $0.66 at press time. Its sister currency, Stellar, suffered a hugely torrid time when it dropped quite severely to around $0.16 although it then recovered to $0.22 in a matter of hours largely due to a considerable pump of value in the late hours of Sunday. Another of the smaller currencies by market cap, NEO, showed considerable downward movement when it settled at around $0.55 before rebounding to $0.65 although it is still very far off its monthly high of $140 registered in the first few days of March.

Litecoin and Dash also saw some movement when their values rose to over $150 in the former and $400 in the latter. Dash had dropped considerably in the past few days where it had even reached the $330 mark at one point but a small recovery was noted again in the late hours of Sunday. Ethereum had another torrid end of week with the price dropping well below the $500 mark and at one point there were fears that it could even descend to below $400. However, the cryptocurrency saw a considerable movement upward on Sunday and the price was touching the $550 mark during the recovery period. Ethereum Classic also recovered considerably from intra weekend lows of around $15 to rebound and touch the $0.17 mark.

Whilst there appeared to be a considerable decline to values not seen since the February 6 crash, it appears that the announcement made by Bank of England governor that cryptocurrencies would not be regulated had a positive effect on the cryptocurrency market that had even dropped below the $300 billion mark by market cap on Sunday. The G20 summit this week could also have an effect on the prices of cryptocurrencies during the week, although at this point one cannot predict if the rally has any further steam.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Stuck in a rut: Cryptocurrencies hover around $350M market cap mark

It seems that the cryptocurrency market has become stuck in a rut with very little movement either way as legacy Bitcoin (BTC) continues to hover around the $9,000-$9,300 mark with occasional drops below the $9,000 level. Although it appears that the Mt. Gox selloff has been halted, the damage has been done and there is very little support above that level to continue pushing the price up with interest waning on several fronts.

Bitcoin Cash is holding above the $1,000 mark having dropped below that psychologically significant level several times although there does appear to be some support at that level. Of the coins with larger market caps, Ethereum is also very much stuck in a range of just under $700 although this has also been breached several times and the currency invented by Vitalik Buterin has also traded several times around the $630 mark whilst occasionally dropping perilously close to the psychologically significant $600 mark. Its sister currency, Ethereum Classic, is also having a disappointing run having dropped below the $20 mark and it appears to be careening below that level if buy volumes do not hold up.

The third top cryptocurrency by market cap, Ripple, is also disappointingly stuck with levels of around $0.77 to $0.80—all this demonstrates that no amount of good news is having any serious effect on the currency that continues to languish at November 2017 levels. In fact with the Money 20/20 conference going on, one would have expected a lift in the price but the market appears to be considerably affected by the BTC situation so all other currencies are perhaps linked to it.

The other larger cryptocurrency by market cap—Litecoin—has not moved much either and was trading at around $172 at press time with the psychologically sensitive mark of $200 very far off. Ever since the botched launch of Litepay, this currency has struggled to take off and there does not appear to be any significant movement in this respect.

Of the currencies with smaller market cap but still in the Top 10, Stellar continued hovering around the $0.28 to $0.29 mark with slight pushes close to $0.30 but there also appears to be very little upward trajectory here. The same could be said for NEO which is hovering around the $0.82-$0.85 mark—this currency lost more than half its value since late February—a mere two weeks ago. Dash is also trading at well below the $500 mark—the heady days of $1,500 seem almost years away.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.