|Day's Range||284.67 - 319.77|
|52 Week Range||11.53 - 473.21|
|Volume (24hr) All Currencies||106.25M|
The “alt coins” that we follow here at FX Empire were a bit softer during trading on Monday, as the crypto currency space got sold off yet again. What’s even more concerning is that the US dollar has fallen during the day in the Forex world, while crypto currencies could not benefit from this.
The “other 3” crypto currencies rallied a bit during the trading session on Thursday, as the crypto currency space got a bit of a bounce, perhaps a reprieve from the selling.
Bitcoin Gold, Dash, and Monero did the same thing all other crypto currencies did on Wednesday, absolutely fall apart. They do so in varying levels of course, but at this point in time it’s obvious that the crypto currency markets are in serious trouble overall. In fact, I cannot find a single crypto currency that looks healthy.
Cryptocurrencies went viral just as the populist, anti-authoritarian view saw Trump elected and Brexit voted for. Perhaps we should not have been surprised after all. But is it a fad? Will it be like the Arab Spring, and fizzle?
Bitcoin Gold fell significantly during the trading session on Tuesday, losing roughly 20% at one point. DASH broke down rapidly during the trading session on Tuesday, reaching as low as $725 before bouncing back above the $800 level. DASH did have some volume on the bounce, so it may stand a better chance of keeping gains than Bitcoin Gold, but it would need to clear the $920 level for me to be completely convinced.
The “other 3” digital currencies that we follow all had varying degrees of bullishness on Monday, but volume would have been a bit of an issue as Americans were celebrating Martin Luther King Jr.’s birthday. Because of this, I take some of these moves with a grain of salt.
The “other 3” crypto currencies that we follow here at FX Empire have been drifting a bit aimlessly as of late, and unfortunately there isn’t much in the longer-term charts showing that will change anytime soon. In fact, is starting to get a bit suspicious about a few markets in the digital currency space overall.
So you think you’re the first to think that you missed out on the huge Bitcoin rally, and surely there must be a smaller copy-cat you can get in on? You know, missed Yahoo, so bought Google when it came out