Market update

After dropping to $9721 yesterday, the Bitcoin price was trading just under $10,500 at the time of writing to end the week close to where it began. The 9% increase since yesterday once again reflects moves on traditional markets, with the US S&P 500 up 3.3%, the FTSE 100 up 1.7%, and the ASX200 up 7% yesterday. This correlation is a potential danger sign as many pundits tip further falls on traditional markets as the coronavirus death toll rises and economic impacts become clearer. Most of the top ten are trading where they were this time last week: Ether (0.15%), Bitcoin Cash (1.22%), Bitcoin SV (-1.5%) and Litecoin (1.6%). XRP gained a more significant 9.3%, while Stellar was up 2.9%. The crypto Fear and Greed Index is at 10, indicating Extreme Fear – however Bloomberg’s GTI Vera Convergence Divergence Indicator has just flashed its first buy signal in three months.

Market Update 18th – 24th March 2020 In Markets Bitcoin has performed well this week in the face of the […]

Market Update 11th – 18th March 2020 In Markets It’s been a horror week across every financial market and asset […]

Market Update 4th – 10th March 2020 In Markets Despite great crypto related news coming out of India and South […]

This week has been a rollercoaster ride. The Bitcoin price crashed along with global stocks (leaving the ‘safe haven’ narrative worse for wear) but both staged a comeback in the past 24 hours. A few hours ago, the Dow Jones closed 1284 points up for its biggest gain in history, in the wake of reports that central banks will take action to combat the coronavirus induced slowdown. Bitcoin has also surged 4.2% on yesterday. Sure, it’s still down 7.4% on a week ago, but things are no longer looking so grim. The top 10 are recovering, but remain down on a week ago: Ethereum lost 12.4%, XRP (-11.3%), Bitcoin Cash (-10%), Bitcoin SV (-7.9%), Litecoin (-18.2%), EOS (-9.2%) and Stellar (-14.8%).

Market Update 19th – 25th February 2020 In Markets Bitcoin doesn’t seem to want to break above the US$10,000 (A$15,139) […]

Market Update 12th – 18th February 2020 In Markets Bitcoin’s bullish momentum eased over the weekend, with the price dipping […]

Market Update 5th – 11th February 2020 Welcome back to another Australian crypto market update. In Markets Bitcoin smashed through […]

Market Update 29th January – 4th February 2020 In Markets Bitcoin increased another 3.5% this week to trade around $13,900 […]

Market Update 22nd – 28th January 2020 In Markets Bitcoin is up 6.4% in the past 24 hours to trade […]

Market Update 15th – 21st January 2020 In Markets If the past three week’s gains are anything to go by, […]

Market Update 8th – 14th January 2020

Despite the possibility of the US/Iran conflict receding, the Bitcoin price is looking healthy, up 6.5% on seven days ago to trade above $12,200 at the time of writing. Daily trading volumes have more than doubled in the past week. But Bitcoin’s rise was easily beaten by Bitcoin SV, which is up a whopping 48.6% this week on wild speculation that Aussie Satoshi claimant Craig Wright might actually be able to access Satoshi’s BTC billions. XRP was the only top 10 coin in the red, down 3.6%. Ethereum was up 0.9%, Bitcoin Cash (11.1%), Litecoin (9.6%) and EOS (10%). Stellar, at No.12, lost 1.1%.