First Bitcoin (BIT) Market Cap Hits $0.00

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Report from CCN states that "However, in the past several hours, the price of Bitcoin and Ether have started to drop once again, testing $7,100 and $410".

Over to Ripple or XRP, Ripple has had a fairly good Thursday as it has managed to get a whole 0.35% more today than previously and has built itself up from this week's trading price of $0.320. A few days ago, cryptocurrencies saw the first dip before the SEC announcement, which took place after the Intercontinental Exchange (ICE) deal was revealed.

IG Client Sentiment Reportshows that retail investors remain heavily long of Bitcoin (BTC) and Ripple (XRP). BTC is seeing a daily loss of around 8 percent today but the coin's market dominance among all 1600+ currencies is 49 percent. "Bitcoins volatility will always play a factor in its price, but hopefully Bitcoins price will soon start following its growing hashrate".

If this happens, chances are that it could head lower with the next support level being $4800 on the 100-day moving average level.

There is a noteworthy bearish pattern line-shaped with resistance at $7,320 on the 4-hour chart of the BTC/USD combine (information feed from Kraken).

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This led to panic amongst some traders and it resulted in the Bitcoin price dropping to the $6,500 region.

However, it could just be a case of what goes up, must come down; indeed, the entire cryptocurrency market has been on a general downtrend for most of 2018 after Bitcoin reached a high of almost $20,000 in January.

Ethereum Classic is becoming a trending cryptocurrency after Coinbase launched ETC trading on Coinbase PRIME and PRO platforms recently. This Wednesday, BCH has an overall market capitalization of around $10.5B and 24-hour trade volume is about $443M.

Hourly MACD - The MACD for BCH/USD is slightly placed in the bullish zone. On the downside, a break below $0.3198 may well clear the path for more losses towards the $0.3000 and $0.2800 support levels. RSI levels also show oversold conditions as the oscillator hovers around 21.4 at press time. If bears get their way, the fall to sub-$600 regions will hold decently between $590 through $530 for some time. Investors seeking to trade X2 should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. This is the last bearish wave, before bitcoin most likely enters into a long-term consolidation phase going into 2019.

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