On the market natural pullback. Analysis courses TOP 5 cryptocurrencies for 30.07 – 03.08

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In late July, bitcoin was surprised by the rapid growth, it was followed by altcoins. Experts predicted that this will begin a natural correction of courses, and it is not long in coming. Total market capitalization fell to $260 billion. In one day, minus $14 billion.

Fluctuations in the TOP-5 of cryptocurrency

Bitcoin. The sharp decline began in the early morning, the first price of the cryptocurrency fell by 4% and continues to decline. Despite the fact that last week the asset failed to reach the mark of $7900 and enthusiasts were hoping that bitcoin will breach the resistance of $8,000. The immediate support is at the level of $7250, then $7100. Market capitalization currently stands at $126 billion, almost 50% of the total value!

Ethereum. Published news about the launch of a new update, Constantinople could not hold cryptocurrency from dropping. This update focuses on scaling the existing system until activated other protocols. ETH price fell nearly 4%, the next level of support is at the level of $400. The share in the market capitalization is $41 billion.

Ripple. This cryptocurrency has proved remarkably resilient. Neither rapid growth nor sharp fall was observed. Experts explain this by the decrease in demand for XRP, because the token is, in fact, exist separately from the company Ripple and absolutely not involved in the new developments. At the time of writing for 1XRP $0,44.

Bitcoin Cash. Leader in the TOP 5 in the speed drop. One day, the rate decreased by 7%, for the single BCH give you $713. Not so long ago the hard forks of bitcoin 1 year old! But against the laws of the market will not go, and the birthday boy is dropping along with other cryptocurrencies. Support is at the level of $705. Capitalization is $12 billion.

EOS. The price of bitcoin has decreased only slightly, by 2.6%. Capitalization is $6 billion. The nearest support lies at $6,85.

While there is no reason to panic. Predictable correction after such a rapid growth. Buying activity has declined, and bulls gather strength for the next round.

Previously on this topic in the news:

26.06.2018: Why fall cryptocurrency? – 5 reasons

Last year the digital asset has grown by leaps and bounds. During the year the capitalization of the cryptocurrency rose from $17.7 billion to $613 billion, a growth of 3300%! In 2018, the virtual currency fell to a minimum, and there are 5 reasons.

5 reasons for the fall of cryptocurrency:

  • Technologies are not yet popular. The most important technology in the cryptocurrency is the blockchain, a decentralized block chain, which is responsible for processing, conducting monetary transactions and saving data. Blockchain technology can be implemented in the field of transportation, medicine, Finance, logistics, but experts do not hurry. While businesses and organizations are not willing to use unproven technology that has not demonstrated the ability to scale. News of intentions go out every day, but real examples yet.
  • Cryptocurrencies have no purpose. There is no catalyst, or the need for investors to switch to digital currency. That is Fiat money and traditional translations in the foreseeable future will dominate. Take the bitcoin. Most often it is bought in exchange for other digital assets and quick profits, but not in order to use in real life. Without the expressed usefulness of the cryptocurrencies are unlikely to be popular.
  • A hacker attack. Breaking the Bank is unlikely to collapse the price of gold or currencies with cryptocurrencies it is not so simple. According to the analysis of Carbon Black just for 5 months was stolen cryptocurrency worth more than $1 billion. This is followed by important consequences: firstly, it is an indication that the blockchain and cryptocurrency is not as protected as the developers say, secondly, without additional precautions it is impossible to obtain the trust of retail investors and financiers on wall street.
  • The interdependence of cryptocurrency. Regardless of how many crypto currency is your portfolio most of the assets follows the movement of bitcoin. No traditional fundamental indicators that investors can use to assess asset. Long-term course of cryptocurrency to predict, no one can.
  • The disinterest of institutional investors. Most investors on wall street are sitting on the fence. They are not eager to invest in decentralized assets, because of the high risk of theft or fraud. Companies that have already reached the cryptocurrency market, actively manipulate the course and contribute to its further decline. Thus, in particular, occurred after the introduction of futures on bitcoin.
  • News

    28.05.2018: which cryptocurrency to invest in the near future?

    Cryptocurrency market is active movement not happy, but capturadora has identified a list of assets which may soon rise significantly. TOP 4 cryptocurrencies in which to invest in June.

    Alleged leaders June:

  • ZClassic (ZCL). Cryptocurrency was formed as a result of hard forks 2016. It combines the advantages zcash for and Bitcoin. Works on the PoW algorithm. As the accounting currency, the reduction of the coins occurs every 48 months. The advantage of the investment in the currency that after the release of Anonymous Bitcoin (it is scheduled for September 10, 2018), xoldery the ZCL will be able to earn tokens in 1:1 ratio. Experts predict that Anonymous Bitcoin will be popular, because the development team have good connections in the cryptocurrency world.
  • Bitcoin is Anonymous (ANON). At the moment, the team is actively shares information and participates in conferences. The test network is scheduled to launch in August 2018. Will be activated zkSnark – the privacy Protocol. The currency will also work on the PoW algorithm, masternode will be equipped with control protocols. The digital asset has already received the support of many cryptocurrency exchanges and communities. ANON wants to be the first transparent fork in history, next week’s planned release of technical documentation and web site.
  • EOS. On 2 June the launch of the EOS network. Despite the fact that cryptocurrency at the time of release there was not even software in the project believed, and now EOS is on the 5th place by market capitalization. EOS is considered the main competitor Ethereum is a platform developed to create decentralized applications, but more scalable and functional. 3 months EOS managed to double market cap to hold the position. Cryptocurrency I think is very promising.
  • Ontology (OPT). It is also a public platform for creating projects of any type. The blockchain system can be easily integrated in already existing enterprises. Improved authentication procedure, privacy, thanks to the remote sharing of data. In the near future should take place the launch of the network, so experts predict that the cost of token will increase dramatically. In 2,5 months the price of bitcoin has increased more than 350%.
  • Such events are very important to the cryptocurrency community, and on the background of the release of updates and software, asset prices will rise dramatically. Follow the movement of the market and invest wisely!

    News

    24.05.2018: Tom Lee: “3 reasons bitcoin will rise to $25 000”

    Tom Lee Lindstroma prediction on which bitcoin rally after the conference, the Consensus did not materialize, continues to insist that by the end of the year the value of cryptocurrency will rise to $25 000. The forecast analyst with wall street underpins the three factors.

    3 reasons supporting the growth of bitcoin:

  • The cost of production and circulation of bitcoin. When the first cryptocurrency gave about $8000, in an interview with CNBC Tom Lee said that in fact, bitcoin is trading at cost. He has previously said that production costs amount to about $6000.
  • Institutional investors. Many are willing to invest and are interested in digital assets, but can not enter the market due to the uncertainty of the regulation. Tom Lee added that the recognition of bitcoin as an asset class will become a powerful impetus for the resumption of the rally.
  • Historical analysis. The company’s specialists Fundstrat Global Advisors analyzed the history of the development of bitcoin. Interesting, but for all the first borne digital currency, the profit answer only 10 days a year. Tom Lee says that the main thing is not to miss these 10 days since the rally from $8,000 to $25,000 will be very fast.
  • The current situation on the market analyst and investor explains “typical cryptocurrency volatility” and is confident that bitcoin will beat your record from last year.

    News

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