Cryptocurrency markets are losing some gains today, as most digital assets are down between 3-15 percent during this morning’s trading sessions on May 16, 2018. The overall cryptocurrency market cap has shaved a few billion in losses since our last markets update, leading to the valuation of all 1,600 cryptocurrencies hovering around $374Bn today. During the last 24-hours bitcoin Cash (BCH) value has dropped 10.4 percent and prices are around $1,258 per BCH. bitcoin Core (BTC) prices have also dipped, but by only 5.6 percent with one BTC priced at $8,234 at the time of publication.
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BCH Markets Down 20% This Week
At least three-quarters of the entire cryptocurrency ecosystem has lost value today as many coins are seeing losses this Wednesday. Total 24-hour trade volume for today’s trading session is around $22.6B worth of exchanges. bitcoin Cash markets have lost a bit of value since yesterday as the network which increased its block size to 32MB. BCH trade volume is thinner than the week prior as only $1Bn has been traded during the last day. The top five exchanges swapping the most BCH during today’s trading sessions are Okex, Bitfinex, Huobi, Upbit, and Hitbtc. Both the South Korean won and tether (USDT) BCH trading pairs have seen exponential volumes but BTC still dominates pairs by 34 percent. The BCH/BTC pair is followed by tether (USDT 25.4%), USD (22%), KRW (14%), and the EUR (1.4%).
BCH/USD market action on May 16, 2018, according to .
BCH/USD Technical Indicators
Looking at the four-hour the price is seeing some deep triangular consolidation at the moment. The MACd is on the rise after the initial dip took place and show more improvement could be in the cards. RSI levels show the oscillator is around 38 right now, showing oversold conditions seem imminent. Looking at the two Simple Moving Averages indicates the path to resistance to the upside still looks obtainable as the short term 100 SMA rides above the longer term 200 SMA trend line. Looking at order books on the upside, BCH bulls need to muster up the strength to break past $1,330-1,355 in order to make headway northbound. On the flipside, if the dips continue there are some solid foundations between the current vantage point and $1,210.
Bitfinex — BCH/USD May 16, 2018, at 10 am EDT.
A Brief Glimpse at Overall Cryptocurrency Market Action
The is seeing pretty decent losses today even though there’s been loads of good news coming from the industry this week. The number one cryptocurrency market cap held by is wavering just below the $8,400 region with $7Bn in trade volume over the past 24-hours. has seen some dippage as well, as prices have lost 4 percent today. One ETH is hovering just above $700 USD at the time of publication. are seeing heavier losses around 6.3 percent as one XRP is $0.69 cents today. Lastly, the fifth highest capitalization has been a contested position for a while now as many coins have been filling this area over the past year. for a few weeks now but its markets are down 11.7 percent today as one EOS is averaging $12 per coin.
The top ten cryptocurrencies today according to .
The Verdict: Mid-May Market Action is Lackluster but Positivity Remains
So far, the mid-May bull run lots of enthusiasts were hoping for has been nothing but a fizzle this week. Many believed cryptocurrencies would begin to see larger gains after the Consensus conference in New York started but that forecast never came to fruition, at least not yet. The only coins that are doing well today are a few miscellaneous tokens and stablecoins like tether (USD, and TrueUSD showing traders are likely using these ‘stable’ currencies as shelter from the current storm). Optimism and positivity among traders on social media and trader groups on Telegram still seems bright, even though markets have shaved some decent gains over the past 72-hours.
Where do you see the price of BCH and other cryptocurrencies headed from here? Let us know in the comments below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither .com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images via Shutterstock, Trading View, and .
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U.S. investors able to invest in 10 cryptocurrencies on global platform
New York, NY — May 15, 2018 — With the belief that all assets will be digitized in the future, leading investment platform eToro has announced it will launch a cryptocurrency offering in the United States. The launch will initially enable U.S.-based users to invest in 10 cryptocurrencies, with more to be added throughout 2018. Users will have access to a community feed and tools, letting them engage in conversations about cryptocurrencies and follow the investment strategies of other U.S. users.
Since launching in 2007, eToro has established a strong market presence of more than 10 million registered users across 140 countries, including the United Kingdom, Australia, Germany, Switzerland, and France. In 2009, the company launched a multi-asset web-based investment platform, and has since amassed more than $162 million USD in capital funding and enabled its services on mobile devices.
Yoni Assia, CEO and Co-founder of eToro, said: “Consumers all over the world should have access to the tools they need to participate in cryptocurrency markets, regardless of their expertise. We’re excited to make our platform available to U.S. users, who have shown a strong enthusiasm for participating in these growing markets. Within the platform, our U.S. users will find rich knowledge and insights into how to effectively trade and invest in cryptocurrencies.”
“eToro will continue to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community. U.S. crypto holders have a strong appetite for diversified portfolios and we’re committed to offering the best tools and assets to help them manage their investments all in one place,” added Assia.
Starting May 15, 2018, U.S. users can visit eToro.com to join the waiting list for the platform. Ahead of the platform going live, users will be able to experience the interface and perform mock cryptocurrency investments via a virtual portfolio. The 10 cryptocurrencies that will be initially available are: bitcoin, Ethereum, Litecoin, XRP, Dash, bitcoin Cash, Stellar, Ethereum Classic, NEO, and EOS. eToro intends to integrate several more cryptocurrencies throughout 2018.
Guy Hirsch, USA Managing Director, eToro, said: “We are quickly moving toward a tokenized world, and digital investment platforms need to provide access to the assets investors want, allow the sharing of knowledge, and make transactions easy. eToro is committed to helping our users become better educated about both the risks and rewards that cryptocurrencies present, thereby enabling them trade and invest responsibly and successfully.”
The platform will offer U.S. investors three ways to access the crypto markets: by manually investing in a coin; by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise; or by investing in a Crypto CopyFund which provides a diversified portfolio of major crypto assets.
About eToro:
eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from cryptocurrencies to commodities. eToro is a global community of more than ten million people who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
eToro is regulated in Europe by Cyprus Securities and Exchange Commission and regulated in the UK by the Financial Conduct Authority.
Brian Kelly, Founder and CEO of , an independent investment firm specializing in cryptocurrency and blockchain-focused investment opportunities, will manage a new blockchain startup-based exchange-traded-fund (ETF) released by REX Shares.
is a Connecticut-based financial services firm founded in 2014. REX products focus on delivering efficient or concentrated alternative investment strategies to investor and trader portfolios. REX Shares intended to launch an exchange investment fund (ETF) to work with bitcoin earlier, but the US Securities and Exchange Commission refused to approve its application. Now the company is going to launch another ETF, focused on firms operating in the blockchain sector.
“The bitcoin ETF was technically withdrawn”, REX Shares CEO Greg King said. “But we do have a blockchain ETF that we are hoping to launch in the upcoming weeks. We’re excited about that because we think investors want exposure to this technology and we have partnered with a portfolio manager who runs a crypto hedge fund, so he’s going to be an active manager for this ETF.”
The manager Greg King was referring to is BKCM founder Brian Kelly. He has been gaining experience in trading and managing funds for institutional investors for more than 25 years. Being the portfolio manager of the BKCM Digital Asset Fund, Kelly is also an early investor in the cryptocurrency and blockchain space, as well as a sought-after commentator and keynote speaker.
Working in partnership with Gregg King, Kelly will actively manage a portfolio of roughly 30 companies actively using blockchain technology.
“When I look at the investment landscape, to me blockchain and cryptocurrencies are a once-in-a-lifetime investment opportunity … if I look at every other asset class, to me the most attractive investment is blockchain and cryptocurrency. The growth is explosive [and] the potential is enormous,” Kelly said.
Kelly will also match one of four general criteria which include companies using blockchain to streamline existing business processes, services changing how securities are traded, mining focused entities, and exchange firms and startups creating a decentralized internet.
According to Kelly, the fund will evolve over time. He noted that “this is an active ETF [so] we’ll be able to add companies to the space.” He added: “Over time we might become 100 percent pure play.”
However, the ETF will be invested not in any cryptocurrencies directly, but in companies with regulated security offerings. Anyone who has a U.S. brokerage account, even residing outside the country, willhave access to the fund.
Earlier, Brian Kelly cryptocurrency with the “Internet in the 1980s,” saying that bitcoin (BTC) is still in its early stages. He believes in bitcoin, as well as crypto analyst Bill Baruch who this currency will cross $11,500 soon.
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During the ongoing Consensus 2018 event, social trading platform has made a crucial announcement of expanding its operations to the United States by launching a cryptocurrency exchange and a mobile wallet. Right from the moment of the launch, the eToro cryptocurrency exchange will allow U.S-based investors to straightaway trade into ten different cryptocurrencies including bitcoin, Ethereum, Litecoin, XRP, Dash, bitcoin Cash, Stellar, Ethereum classic, NEO, and EOS.
In its eToro stated that the company is planning to add more digital tokens in the coming months for investors to trade.
It's happening! We will be officially launching in the U.S this year! We will also be rolling out a wallet starting with selected users this week and, will be launching a crypto exchange later this year. –
— eToro (@eToro)
Guy Hirsch has been appointed the Managing Director for eToro’s U.S operations. Hirsch said:
“eToro empowers investors with a platform that gives them access to the assets they want, shared knowledge and ease of transaction. We know that there is a strong demand in the U.S. for crypto and we are excited to be able to offer U.S. investors the opportunity to learn about and invest across multiple cryptocurrencies.”
Earlier this year in March 2018, eToro managed to raise $100 million in its Series E round funding, which, the company says, will be used for “its global expansion and the development of blockchain technology to support the digitization of assets.”
Yoni Assia, Co-founder and CEO of eToro, said:
“We believe that in the future all assets will become digitised. This will help to open the markets to everyone and enable them to invest in the assets they want in a simple and transparent way. Crypto is the first step on this journey and we are excited to share our plans to launch an exchange and wallet.”
He further noted:
“An exchange and wallet are important additions to our crypto offering and we know that both have been eagerly anticipated by our customers.”
The company claimed that exchange will be launched later this year, however, the wallet will be launched in a phased-out manner. Currently, some few selected customers have been beta testing to make sure that the eToro provides a seamless and hassle-free experience for its customers at launch.
eToro will let its U.S customers access the crypto markets in three different ways. This includes: manually invest in a coin, automatically copy the trades of other traders on the platform to benefit from their knowledge and investment expertise, or invest in a Crypto CopyFund, which provides a diversified portfolio of major crypto assets.
Ever since it started its operations in 2007, the company has grown rapidly and is currently serving more than ten million customers across 140 different countries. The eToro platform provides its users the flexibility to trade and invest in different assets right from cryptocurrencies to commodities. It also allows to buy, hold and sell assets as well as monitor users’ portfolio and transact whenever on a real-time basis.
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