Cryptocurrency News and Talking Points
- $50 billion wiped off in the last three days.
- A range of cryptos are eyeing 2018 lows.
Cryptocurrency Market Racking Up Heavy Losses
The crypto market has shed nearly $50 billion in the past three days and the short-term chart set-ups remain bearish with price action producing lower highs and lower lows across a range of coins. Market heavyweight Bitcoin (BTC) may be looking to establish a trading range, which would help traders recover confidence in the space, while other coins are likely to fall further in the short-term.
The Ether/Bitcoin spread is one way of de-risking the market to a certain level, leaving investors the opportunity to trade the two companies/networks against each other.
Cryptocurrency Trader Resources
If you are interested in trading Bitcoin, Bitcoin Cash or Ethereum we can offer you an informative Introduction to Bitcoin Trading Guide.
Is the cryptocurrency cracking? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.
--- Written by Nick Cawley, Analyst.
