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Bitcoin, Bitcoin Cash, Ethereum, Ripple: Prices, Charts and Analysis • Cryptocurrency market capitalization has halved in one month. • Support levels increasingly difficult to identify. Cryptocurrency Market Set for Fresh Multi-Month Lows The cryptocurrency market has lost 50% of its value in the last month as the steady grind lower continues, leaving technical support levels difficult to find. The market cap is expected to dip below $100 billion shortly, down from a peak around $830 billion in January this year, a drop of 87.4% in less than one year. Turnover remains low which suggests that buyers are becoming increasingly sidelined as valuations slump. A report yesterday that blockchain investment firm Pantera Capital, one of the largest institutional owners of cryptocurrencies, warned that about 25% of the projects its ICO fund invested in may violate SEC regulations, leading to refunds for their clients. Purchase microsoft excel for mac.
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Looks set to fall below $3,000 in the short-term with the $2,970 September 15, 2017 swing-low the next target. Below here, horizontal support at $1,760 off the July 18 low comes into play in the longer-term. Bitcoin Daily Price Chart (July 2017 - December 14, 2018) In vestors remain net-long cryptocurrencies but recent changes give us a mixed trading bias – for example the number of traders net-long Bitcoin has been trimmed back from last week. You can sign up to the for free to get updated positioning data. Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars If you are interested in trading Bitcoin, Bitcoin Cash,, or we can help you begin your journey. We have an along with a so you can practice trading this volatile asset class.
What’s your opinion on the latest cryptocurrency sell-off? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.
--- Written by Nick Cawley, Analyst. About your FOREX.com Demo Account A demo account is intended to familiarize you with the tools and features of our trading platforms and to facilitate the testing of trading strategies in a risk-free environment. Results achieved on the demo account are hypothetical and no representation is made that any account will or is likely to achieve actual profits or losses similar to those achieved in the demo account. Conditions in the demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a live trading environment.