Overall Market Summary for September 19 – 2017

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No significant move on BTC and other cryptos today.

There seems a little buying support.

We need a break below 3800 today for more downside. I still remain bearish in the short term.

 TenX Pay getting smoked again. It was nothing but a great pump and dump by the VCs by running marketing campaigns in china. Be cautious while trading cryptos where VCs and hedgefund investors and other big names have a stake.
It’s easy to create liquidity and pump up the prices using big names and they’ll dump it.
Would advise to be cautious with Tezos too. Although there hasn’t been much pump and not trading on big exchanges, there are good chances.
A good way to track whether the team or the big name investors are selling out would be check their block explorer and see how many tokens have changed hands from bigger accounts to a number of smaller ones.
Volumes in China have significantly dropped in the past few days now.

OkCoin and Huobi used to be in top 5 volume wise. And at its peak OKCoin has seen over $1bn daily volume.

Last 24 hours volume has dropped to $151mn

Volumes in Korea has also dropped lately. With daily volume falling under $500mn while at its peak used to be $1.5bn.
QTUM is down 11% today now.
BTC has broken 3900. Not much buying support till 3950

 

Pretty good selling volume on BTC and eth.
 

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