Bitcoin Markets See Turbulent Price Swings

Bitcoin markets and the cryptocurrency’s price has been exciting to watch as spectators around the world wonder what will happen next. At the moment bitcoin core (BTC) markets are recovering from a massive dip that took place around midday eastern standard. The price is hovering around $16,000-16,200 after falling nearly $1,500 in value over the past two hours. Volume is high as global trade volume has seen roughly $13bn over the past 24 hours. The top five exchanges swapping the most BTC volume are Bitfinex, Bithumb, GDAX, Bittrex, and BTCC. The drop also sent many other digital assets into the red zone as they followed bitcoin’s temporary dive. The top ten digital currency market capitalizations have bounced back as well with only a few of them still nursing their wounds.

Technical Indicators
Looking at the charts shows that bulls have a lot more work to do if they want to grasp prices they held earlier this week. Looking at order books on the sell side shows there are some significant walls to hurdle above the $16,500-$17,000 range. However, on the flip side, the backdrop of buy walls show some stronger foundations, but traders should be careful if the price breaks below $15,250.

Markets Update: Bitcoin's Price Takes a Quick Dive Dropping 5 Percent
BTC trade volume has seen roughly $13bn over the past 24 hours
The short-term 100 Simple Moving Average (SMA) is way above the 200 SMA which means the price will likely see some more uptick northbound. RSI and Stochastic oscillators still show oversold conditions, but both indicators have been telling this story regularly. The most prominent hurdle bulls face will be three key zones which include $16,500, $17,200, and $17,500 in order to break new ground.

Markets Update: Bitcoin's Price Takes a Quick Dive Dropping 5 Percent
The price of bitcoin core (BTC) touched a low of $15,400 and bounced back to the $16K range shortly after.
Digital Asset Markets Closing In on a $500 Billion Market Cap
Three out of the top five digital assets with the largest market caps have recovered from bitcoin’s price dive. The three cryptocurrencies doing slightly better include ethereum, bitcoin cash, and ripple. Ethereum (ETH) markets are up 15 percent as the price per ETH is around $700. Bitcoin cash (BCH) has had a pretty decent day as markets are now up over 5 percent with one BCH priced at $1,600. The currency ripple (XRP) probably had the best day out of all the cryptocurrencies on December 13 as one XRP is now $0.45 after gaining over 70 percent in value. Lastly, litecoin (LTC) is down 6 percent and the price per LTC is roughly $300 at the moment.