Crypto Market Update (11 April 2018)

April 11, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

Bitcoin (BTC) seems to be in in a consolidation phase rather than outright dip. Many traders are drawing conclusions of a bullish pennant coming to a close within the week. There was a significant drop in overall cryptocurrency trading volume on Monday, but that statistic has been steadily rising since then. The Buy Markets Percentage is continuing a spike, which may be a signal that a total bear market is coming to a close.

https://www.turtlebc.com/tools/buy_percentage

EOS (EOS) surges up over 25% in the past 24 hours. Its trade volume overtakes Ethereum (ETH) as second to Bitcoin with almost double ETH’s total.

SingularDTV (SNGLS) pumped well over 100% briefly, but now sits up around 15%

NEO (NEO) continues a steady push up since Monday morning.

Major Headlines

Bittrex already overwhelmed with new users –

After re-opening registration for new users yesterday Tuesday, April 10 Bittrex was forced to pause incoming registrations due the “overwhelming response from new users.” In light of this week’s market trends and spikes in Altcoin prices, it could be a sign for an overall new market trend.

https://twitter.com/BittrexExchange

Russia considers new currency options for oil settlements –

The U.S. has placed sanctions on foreign trade affecting Russia, Turkey and Iran. The countries are considering best options for reducing the negative effects of these by circumventing the American Dollar all together. There is speculation that cryptocurrencies could serve as the most fair means of transaction for commodity trading like this – as seen by the Venezuelan Petro dollar.

http://www.businessinsider.com/russia-wants-to-ditch-the-dollar-for-oil-payments-2018-4

https://www.cnbc.com/2017/12/08/bitcoin-for-oil-venezuela-russia-could-ramp-up-efforts-to-dethrone-the-dollar.html

J.P. Morgan sued for Cash Advance fees on crypto purchases –

A resident of Idaho officially brings an issue that has been discussed for weeks on message forums such as www.reddit.com to court. Many financial institutions are banning the use of credit and debit cards for purchases on cryptocurrency exchanges. Whether or not this is fair is not the issue at hand. J.P. Morgan Chase issued fees on some of these charges to customers in retrospect.

The lawsuit highlights that Chase has violated the U.S. Truth in Lending Act, which requires credit card issuers to notify customers in writing of any change in charges or terms – it asks for repayment of actual damages and statutory damages of $1 million.

https://www.reuters.com/article/us-jpmorgan-crypto-currencies/jpmorgan-sued-over-fees-for-cryptocurrency-purchases-idUSKBN1HI2T4

Top 5 Gainers

MacCoin (MAX) +134.81% at $0.152898

Bubble (BUB) +108.81% at $0.056354

PolySwarm (NCT) +93.01% at $0.009342

HODL Bucks (HDLB) +86.74% at $0.160312

GoldCoin (GLD) +62.02% at $0.126726

Top 5 Losers

Freindz (FDZ) -31.85% at $0.017404

FirstCoin (FRST) -28.29% at $0.102206

STEX (STEX) -21.52% at $1.24

Hexx (HXX) -21.02% at $3.81