[2018-05-19] Markets Update: Digital Assets Show Recovery After Three Days

[maarx]

Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips

Digital asset markets are doing some healing during the past 24-hours of trading after touching some lows the day prior. At the moment the entire cryptocurrency market capitalization of all 1,600+ tokens is around $377Bn with around $16Bn worth of 24-hour trade volume. Bitcoin Core (BTC) markets are up 2.3 percent averaging $8,314 per coin while Bitcoin Cash (BCH) prices are up 1.5 percent at around $1,180 per BCH.

The Week-Long ‘Consensus Pump’ Never Came to Fruition

The mid-May ‘blockchain week’ Consensus pump never materialized last week even though there was plenty of positive cryptocurrency news. During the course of the week, most digital assets in the top 500 lost a good portion of gains. This weekend is a different story as a bunch of markets are seeing some recovery from the dips. Bitcoin Cash markets are up 2.3 percent averaging roughly $1,188 per BCH at the time of publication. The decentralized currency’s 24-hour trade volume has dropped considerably to $683Mn which doesn’t give traders hope for a bigger weekend push. The top five exchanges swapping the most BCH today include Okex, Huobi, Hitbtc, Lbank, and EXX. BTC pairs with BCH has increased significantly as BTC represents 41 percent of today’s BCH trades. This is followed by tether (USDT 30%), USD (13%), KRW (11%), and the Euro (1.2%).

https://news.bitcoin.com/markets-update-digital-assets-show-recovery-after-the-past-three-days-of-dips/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Will 2018 be an year for crypto currencies?

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[SaintGraal]

I saw some articles where they say the market grow usually after Consensus 

[richardsNY]

The market did better than I expected it to do, especially when it briefly touched $79xx levels. It may have been the issuance of $250 million worth of new Tether tokens that lifted the market back up and prevented it from sinking deeper. It might also be pure coincidence, but the price did jump up minutes after the issuance, so we'll see how it goes from here. Institutions capital is on the brink of entering, and this might be just a glimpse of that. My personal thought is that the issued number of Tethers will exceed $4 billion this year, which means that $1.5 billion will be entering the markets and give it a strong boost. I just wonder how long it will take for authorities to force their way in and perform an audit of reserves. It can't drag on like this for ever....