We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • LIVE IN 45 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=1338844901231735299&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Crude #oil prices just spiked on reports that #OPEC and its allies are considering deeper production cuts which could be announced at the oil cartel’s December meeting. Get your market update from @RichDvorakFX here: https://t.co/8bY75Qy0J4 #OOTT https://t.co/VJvgRMYl5j
  • UK PM Johnson threatens to pull attempt to pass Brexit deal and go straight to election if MP's defeat him tonight and vote for another delay -BBG
  • RT @carlquintanilla: $BA https://t.co/oZmArpiTE3
  • RT @SebastianEPayne: 💥 @FinancialTimes analysis of Commons arithmetic for the programme motion vote tonight suggests Boris could lose by -3…
  • RT @PaulBrandITV: No 10 source: “PM will be calling EU leaders tonight making clear our policy remains that we leave on 31/10 and that no d…
  • RT @Reuters: UK Prime Minister Boris Johnson says he will push for an election if lawmakers reject #Brexit timetable https://t.co/rI3YkwGwQ…
  • RT @bankofcanada: Our autumn #Business Outlook Survey indicates that business sentiment in Canada has improved slightly, but regional diffe…
  • Join @JStanleyFX 's #webinar at 1:00 PM ET/5:00 PM GMT for his weekly update on trading price action. Register here: https://t.co/yu1uNFb2tm https://t.co/P5aGgi6Mrw
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.12% US 500: 0.08% France 40: 0.02% Germany 30: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9y7n617O06
Bitcoin, Ethereum, Ripple Prices - Cryptocurrency Market Slumps 76% YTD

Bitcoin, Ethereum, Ripple Prices - Cryptocurrency Market Slumps 76% YTD

2018-08-14 10:00:00
Nick Cawley, Analyst
Share:

Bitcoin, Ethereum, Ripple: Prices and Analysis

  • Bitcoin (BTC) breaking below $6,000.
  • Ethereum (ETH) has lost 34% in the last week.
  • Ripple (XRP) down 92% in 2018.

IG Client Sentiment Reportshows that retail investors remain heavily long of Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH) as prices continue to plummet. See how daily and weekly changes shift sentiment.

Cryptocurrency Market – Another Day of Double-Digit Falls

The cryptocurrency market remains in freefall with most tokens racking up double-digit losses with little news prompting the last fall. The downtrend that has been in place since the mid- to late-January highs remains in control with noted support levels being breached seemingly with ease. Bitcoin has out-performed the general market malaise but is still 65% lower from its January 7 high of $17,212. Bitcoins’ market dominance is up from a year-to-date low of 32.5% to a current level of 53.4%, highlighting this outperformance.

The cryptocurrency marketplace has lost $636 billion since its high print of $833 billion in January as altcoins plummet. The third-largest crypto by market capitalization, Ripple, has dropped in value from $143 billion to a current level of $10.45 billion, according to data from CoinMarketCap.

Bitcoin and Ripple Technical Analysis and Price Levels

Bitcoin, Ethereum, Ripple and Litecoin -- Year-to-Date Losses (High to Low)

  • Bitcoin (BTC) – currently $6,025 - down 65% from January 7 high of $17,212.
  • Ethereum (ETH) – currently $268 – down 81% from January 14 high of $1,420
  • Ripple (XRP) – currently $0.262 – down 92% from January 4 high of $3.30
  • Litecoin (LTC) – currently $51.5 – down 83% from January 6 high of $307

We cover Bitcoin, Ripple, Ethereum and a range of other cryptocurrencies, at our Weekly Cryptocurrency Webinar on Wednesdays at 12:00pm.

Ethereum Down 34% in One Week

The second-largest cryptocurrency Ethereum has been under heavy selling over the last week and has broken through strong support at $359, the April 1 swing-low. ETH currently is back at levels last seen in September last year, having fallen through the cluster of trades between $270 and $320 seen in late September to Late November 2017. The next level of support is at $200, the September 15 low and the start of the sharp rally up to $1,420.

Ethereum (ETH) Daily Price Chart (September 2017 – August 14, 2018)

Bitcoin, Ethereum, Ripple Prices - Cryptocurrency Market Slumps 76% YTD

You can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.

--- Written by Nick Cawley, Analyst.

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

DISCLOSURES

News & Analysis at your fingertips.