The latest news on the price of Bitcoin (BTC)
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The latest news on the price of Bitcoin (BTC)

By Federico Izzi - 19 Jul 2019

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Today, the price of bitcoin is up 5%, despite news from the CFTC that has opened an investigation against BitMEX, one of the leading exchanges offering bitcoin futures. This could affect the price of bitcoin (BTC) in the next few hours or days. At the moment, however, this news seems not to affect the market too much.

The price of bitcoin, after yesterday afternoon’s leap from $9,200 to $10,200 in less than 30 minutes, has experienced an upward trend that has led it to reach $10,700, a rebound that from the lows of Wednesday 17th July marks a recovery of more than 18%.

Source: COIN360.com

Looking at the top 30, only four cryptocurrencies are in negative territory. The first in red is LEO in 14th position, which drops 2% going back to test the threshold of 1.30 dollars.

In 16th place, there is Chainlink (LINK) which loses 1.4%. Tezos (XTZ) loses 1%, while Zcash (ZEC) slips 1.5% following the news of the fork. In the past few hours, the 570,000th block that generated the other YCash coin was produced. Everything seems to have happened without any particular problems as far as the blockchain is concerned. The fork is inflating the main token which is precisely ZCash.

Litecoin chart by Tradingview

Litecoin is recovering the scene with a rebound that sees prices return close to 100 dollars, a level that it had abandoned after the bearish movement and the downward slide of July 13th. With the lows of July 17th at $77, the price of litecoin lost 50% on a monthly basis from the highs of June 22nd. Litecoin rises with the same intensity as bitcoin, 5%.

Dash chart by Tradingview

Dash is among the best of the day. A recent survey by Wallet Investor and Mosaic.io on privacy cryptocurrencies, especially in the dark web, revealed that Monero and ZCash are the most used, whereas Dash is not widely used for these fraudulent activities.

In these hours there seems to be a surge in transactions between Venezuelan citizens who use this coin to transfer value throughout Venezuela but also to receive donations from relatives across borders, in particular from Spain. And so today Dash marks an increase of 4%.

As for the best rise of the day, Japan Content Token (JCT) rises by 20%, a further leap upwards as it has been happening in recent days, which brings it into 90th position with 69 million dollars of capitalisation.

Among the best, there is also Basic Attention Token (BAT) which scores a double-digit rise with a +11%.

As far as capitalisation is concerned, after having reached the bottom in the last few months reaching almost 240 billion dollars, today the market cap returns to 288 billion with bitcoin remaining above the threshold of 66% dominance. Ethereum continues to suffer, falling below 8.5% again. Ripple tries to react and despite the difficulties has to recover 30 cents and rises to 4.8% dominance.

Bitcoin chart by Tradingview

News on the price of bitcoin (BTC)

Bitcoin’s rebound of the last hours of leads to a 15% rise from yesterday morning’s lows. Bitcoin reviews $10,500 with maximums of $10,760.

In the last few hours, BTC suffers a slight loss that keeps it in positive territory on a daily basis. A loss perhaps due to the news about the CFTC investigation against BitMEX. This is hindering the climb of the last 24 hours.

Prices are above the technical and psychological threshold of $10,300. On the weekend it is necessary for the price of bitcoin not to go below the $9,800 area. A downward break could attract speculation and push prices to weekly lows in the $9,100 area.

Ethereum chart by Tradingview

The price of Ethereum (ETH)

Yesterday’s strong upward leap prompted Ethereum’s prices to revise the $230 level, dispelling fears of a failure to recover the $200 caused by ETH touching the $190 level last Wednesday. To assess the bullish strength is necessary to consolidate above the $215 area and in any case not to fall back below $200 over the weekend.

It is necessary to recover the 260 dollars, but at this time it is better to follow the stability of the supports both in the short and medium-term.

Ripple chart by Tradingview

Ripple (XRP)

Ripple is about to conclude one of the most difficult weeks of recent months. The sinking of the last few days has seen it break through the 29 cents threshold. XRP must recover the 30 cents area, consolidate and not drop below this level over the weekend. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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