Deprecated: Function create_function() is deprecated in /home/admin/web/bitcoingalaxynews.com/public_html/wp-content/plugins/onesignal-free-web-push-notifications/onesignal-widget.php on line 46

Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /home/admin/web/bitcoingalaxynews.com/public_html/wp-content/plugins/revslider/includes/operations.class.php on line 2758

Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /home/admin/web/bitcoingalaxynews.com/public_html/wp-content/plugins/revslider/includes/operations.class.php on line 2762

Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /home/admin/web/bitcoingalaxynews.com/public_html/wp-content/plugins/revslider/includes/output.class.php on line 3706
Cryptocurrencies Surge 11% Overnight - Bitcoin Galaxy News
Deprecated: The each() function is deprecated. This message will be suppressed on further calls in /home/admin/web/bitcoingalaxynews.com/public_html/wp-content/plugins/onesignal-free-web-push-notifications/onesignal-settings.php on line 122

Cryptocurrencies Surge 11% Overnight

Cryptocurrencies Surge 11% Overnight

Crypto Market
June 30, 2018 by Raj
98
The crypto market has added more than $26 billion in the past 24 hours, as major cryptocurrencies including bitcoin, Ethereum, and Bitcoin Cash rose by more than 10%. Bitcoin, Ethereum, and Bitcoin Cash are Today’s Big Gainers Major digital assets recorded large gains on June 30, as the volume of the crypto market suddenly surged
ef2ffc044f77c7142c5de01e4eb17fb5

The crypto market has added more than $26 billion in the past 24 hours, as major cryptocurrencies including bitcoin, Ethereum, and Bitcoin Cash rose by more than 10%.

Bitcoin, Ethereum, and Bitcoin Cash are Today’s Big Gainers

Major digital assets recorded large gains on June 30, as the volume of the crypto market suddenly surged by several billion dollars. With bitcoin and Ether, the native cryptocurrency of the Ethereum blockchain protocol, leading the market with solid 11% gains, other large digital assets such as EOS, Stellar, Cardano, IOTA, and NEO also rose substantially in value.

Cryptocurrencies Surge 11% Overnight

Today’s corrective rally of bitcoin, Ether, and the rest of the crypto market can be mainly attributed to the recovery of the daily trading volume of major cryptocurrencies. Prior to the corrective rally, the volume of bitcoin and Ether remained below $3 billion and $1.2 billion respectively. Over the past 24 hours, the volume of BTC rebounded to $4.7 billion while the volume of ETH rose to $1.6 billion.

Although the price of BTC has increased by 11 percent from below $5,800 to $6,400, it will need to remain above the $6,100 resistance level in the upcoming days and secure momentum in the $6,500 region to initiate a proper short-term rally.

The bitcoin price has remained relatively stable around the $6,400 region over the past 12 hours, struggling to make any major movement on both the upside and downside. Other digital assets have kept their support levels for over 12 hours.

Also read: The Rise of The Crypto Market Over The Last 2 Years

As of current, exponential and simple moving averages demonstrate a positive indicator in the short-term, but various momentum oscillators and indicators suggest that the momentum of bitcoin has slowed down in the past 12 hours, pointing towards a downtrend in the short-term.

It is too early to conclude that bitcoin has entered a bull cycle and a proper short-term rally. There exists a bigger probability that the recent increase in the price of BTC was a corrective rally from its sudden drop from $6,500 to $5,800, and due to the abrupt surge in the value of major digital assets, in the upcoming days, the value of most cryptocurrencies are likely to drop slightly, retreating from today’s strong recovery.


Notice: compact(): Undefined variable: limits in /home/admin/web/bitcoingalaxynews.com/public_html/wp-includes/class-wp-comment-query.php on line 853

Notice: compact(): Undefined variable: groupby in /home/admin/web/bitcoingalaxynews.com/public_html/wp-includes/class-wp-comment-query.php on line 853

Add a comment