Latest Market News
Cryptocurrency exchange Kraken is looking to raise around $10 million through the blockchain-based BnkToTheFuture investment platform. According to an e-mail sent out by the exchange to its clients, the minimum investment is only $1,000, a surprisingly low number for a company that valued itself at $4 billion as of December 2018.
The recent price surge has also now allowed Bitcoin to make further headlines as research from Binance has recently pointed out that Bitcoin is the best performing asset class of 2019.
As we move closer to the halfway point of the year, this week’s choices are set to benefit from increased trading activity and speculation as the result of significant launches and developments that should strengthen their market positions and also result in increased amounts of attention to their respective currencies over the coming weeks.
Looking at the long-term trend, DOGE can be considered unhealthy at the moment due to the last 24-hour bearish surge which has dropped its price to the support area of $0.0025. Despite this, the DOGE market is currently sitting above the 100-day moving average (orange line).
Bitcoin Cash has recently managed to penetrate above the $400 level after a further 3.34% price increase over the past 24 hours of trading. The cryptocurrency has since fallen slightly below $400 and is now trading around the $397 level, however, Bitcoin Cash has seen an extraordinary price surge which totals 38.71% over the past 7 trading days alone.
Bitcoin, the world’s premier cryptocurrency has recently lost considerable ground as it broke through the $8,000 psychological mark in favor of the bears. The trend on the daily and other long-term charts is still bullish so we might be experiencing a short-term pullback before another major rally back towards $8,500.
After dropping to the $0.25 support in February, IOTA carved an ascending broadening wedge formation as the price bars remained within the wedge boundaries ever since. Today, the market opened above the wedge and attempted to break away, which was rejected after testing the $0.47 level.
Ripple has finally seen a price break over the past 7 trading days which amounts to an increase of 41%, bringing the current trading price for the coin up to around $0.4217. The cryptocurrency has also seen a further 7.57% price increase over the past 24 hours of trading, allowing the Ripple market to climb further higher away from the $0.40 level.
From a long-term perspective, XLM has been revealed as resuming a positive move.
For the past five months, the Litecoin market has been bolstered in an upward direction, retesting the late 2018 monthly resistances between $40 and $100 on a climb. While trading at around $91, the token is faced with a tight price range of $100 - $105, the June 2018 supply zone.
