Crypto Market Wrap

Cryptocurrency Market Update: Bithumb Listing Boosts Bitcoin Diamond

Martin Young | October 24, 2018 | 5:00 am
bitcoin diamond bcd
Crypto

Cryptocurrency Market Update: Bithumb Listing Boosts Bitcoin Diamond

Martin Young | October 24, 2018 | 5:00 am

FOMO Moments

Little movement in the markets; Bitcoin Diamond gets a boost, Ravencoin is dumping.

As the week rolls on the movement remains minimal on crypto markets. There have been a few spurts here and there on a couple of the altcoins but in general the market is still flat and hovering around $210 billion where it has been for over a week.

Bitcoin is immobile, stuck just below $6,500 where it has been since the weekend. The continued consolidation of BTC markets is showing clear levels of support and resistance. A breakout could come at any time and most recent news for the industry has been positive. Ethereum is also at a very low point and will follow Bitcoin upwards when the market recovers. On the day, however, ETH is static at $205.

The altcoins are pretty mixed again today with about half and half in the green and red. XRP is the top ten’s top performer with a 2.6% gain on the day to take it back to $0.463. Monero has followed with 1.8% added but the rest are in the fractions of a percent either way.

Looking further down at the top twenty VeChain has made 4% back to take it to $0.011. It’s ‘Tech Deep Dive’ video series just aired episode five, ‘partners and roadmap’, which no doubt has added to momentum today. Dash has clawed back 3.5% but the rest are mostly losing with Tezos and Nem dropping back 2-3 percent on the day.

Fomo pump of the day is Bitcoin Diamond which has jumped 15% on the announcement that Bithumb will be airdropping BCD after its hard fork. South Korea’s top exchange also stated it will be listing Bitcoin Diamond today. Trade volume surged from $4 to $22 million as BCD price spiked at $2.20 before pulling back to $2.07.

Also having a pump at the moment is Genesis Vision, up 13%, and MobileGo up 12%. Decred is still climbing following Binance’s listing announcement and has made a further 11% on the day. Getting dumped following a few days of pumping is Ravencoin slashing 18% on the day. Veritaseum and Metaverse ETP are also dropping around 10% at the moment.

Only half a percent has been added to crypto market capitalization today as it remains at $210 billion. Over the past week it has dropped a little but has been generally flat. Bitcoin dominance as fallen slightly to 53.5% as it too remains motionless for the time being.

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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