Cryptocurrencies - The Bears are Growling | Webinar
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
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 firstname.lastname@example.org.
--- Written by Nick Cawley, Analyst.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.