Top Cryptocurrencies of the Week – As at Oct 4, 2018
- Bitcoin (BTC) – It’s been another stable week for bitcoin with the price hovering around the US $6,500 mark as we enter the fourth quarter.
Traders are waiting patiently to see which way the trend will break out.
With only about a 10 percent difference, the volume of Long and Short traders are relatively close to parity.
We anticipate far less price volatility for at least the next month.
Caleb and Brown’s Spotlight Cryptocurrencies of the Week:
- Ethereum (ETH) – Bitmex Research has published a study that shows ICO treasury accounts no longer hold a significant amount of Ether.Just 830 million US dollars of Ether are held in ICO treasury accounts compared to the US $5.4 billion dollars raised.
Going forward Ethereum’s price may see less selling pressure from the industry’s burn rate.
But in the short term, Ethereum is trading only 10 percent below the 50-day moving average.
Traders may get an opportunity to make a quick short trade before re-entering at a target above the 180 dollar support level.
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