Crypto FOMO

Cryptocurrency Trading Update: Bitcoin Cash (BCH) Buoying Up Crypto Markets

Martin Young | September 27, 2018 | 7:00 am
bitcoin cash BCH
Crypto

Cryptocurrency Trading Update: Bitcoin Cash (BCH) Buoying Up Crypto Markets

Martin Young | September 27, 2018 | 7:00 am

FOMO Moments

Markets have regained a little today, Bitcoin Cash is pumping, HyperCash is dumping.

A couple of days of bearish pressure has relented and crypto markets are heading back upwards during Asian trading today. There has been a 5 billion dollar bounce led largely by altcoins as markets head back over $215 billion once again.

Bitcoin has inched up a little on the day to trade half a percent higher at $6,480. However, BTC dominance has dropped back to just over 52% spelling a better day for altcoins. Ethereum has clawed back 1.3% to $216 however real recovery seems a long way off and XRP is still snapping at its heels for second place.

The top ten is all green according to Coinmarketcap with Bitcoin Cash pumping 19% to $525 at the time of writing. The big spike came yesterday when BCH jumped from $445 to $540 in about an hour. The Bitmain IPO has been cited as the determining factor in the current performance of Bitcoin Cash. Trade volume has jumped to over $1 billion and market cap is now over $9 billion.

EOS is also doing well at the moment with a 4% climb to $5.60 while the rest of the top ten are just a percent or two up on yesterday’s prices. Further down the list the picture is similar with Zcash making 2% and the rest are pretty static. Tezos and Dash have actually fallen back a little, losing 1.5% on the day.

While Bitcoin Cash is having a big surge it is not the top performer in the top one hundred. That accolade goes to Eternal Token which is up 40% right now. Electroneum is also having a good day with a 20% pump and Steem and Chainlink are both up 6-7 percent on the day. At the red end of the table is HyperCash dumping 20% from yesterday’s spike. Metaverse ETP has also lost 8% on the day.

Total crypto market capitalization has regained almost 2% on the day to just below $215 billion. Over the past seven days markets have gained 7.5% from $200 billion this time last Thursday however they are still very low and no real upward momentum has been seen yet. The 3-4 day rise followed by the one day dump has been cycling now for the past two months and markets are struggling to drag themselves off the bottom.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

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NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

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