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Webinar: Cryptocurrency Market Under Seige; Prices Look Precarious

Webinar: Cryptocurrency Market Under Seige; Prices Look Precarious

Nick Cawley, Strategist

In this week’s webinar we discussed how a raft of bad news for the digital coin market has turned sentiment sour, with a majority of coins – Ethereum (ETH) aside – registering heavy double-digit losses for the month. And with important support levels in sight, the market remains on edge.

Other cryptocurrency topics covered included

  • Japanese exchange Coincheck was hacked last Friday, losing 530 million NEM (XEM) coins.
  • The CFTC issued subpoenas to Tether (USDT) and digital exchange Bitfinex as rumors swirl.
  • Facebook is banning ads promoting cryptocurrencies and ICOs.
  • Ethereum (ETH) bucks the trend and continues to push higher over the month.

If you are interested in trading Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP) or Litecoin (LTC) check out our Introduction to Bitcoin Trading Guide.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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