The recovery in the stock market. Analysis of the rate of the TOP 5 cryptocurrencies for 20.08 – 24.08

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After the correction rate of the TOP 5 leaders of the cryptocurrency market begins to grow again. The bulls gather strength and are going to raise the bitcoin to $6500 and higher. Behind him will be pulled, and other digital assets.

Analysis of a course of cryptocurrency and forecasts

Bitcoin. The course of bitcoin has gone up after the SEC announced the revision of the decision on launching a bitcoin ETF. Yesterday, Bitcoin managed to cross the resistance line of $6550, but not for long – the rate fell back. The latter are important for cryptocurrencies level is around $6893, and the nearest support line – in of$6400 (100-day moving average). Currently, the RSI is indicating the neutral value, the path of least resistance up and it is flat. However, it is important that the rate did not fall below $6400. For a week the first cryptocurrency managed to rise by 8%. Market capitalization is $112.7 billion.

Ethereum. This week important news that could stabilize the exchange rate of Ethereum, not out. Therefore, the increase at 7 days is insignificant – only 3%. At the time of writing, the cryptocurrency is trading at $276, there is a clear sideways trend. The closest support level is around $270. Market capitalization is $28 billion.

Ripple. Last week, the XRP demonstrated record, falling to a low this year. However, after news about the adoption of Ripple in the payment system of the Bank rate went up. During the week the price of the asset increased by 23%! 1 XRP $0,32 total capitalization is $12.8 billion.

Bitcoin Cash. After rolling back the digital asset has shown a gradual increase. For a week the rate increased by 6.4%. At the time of writing for 1BCH give $529. The closest support level is around $515. The total capitalization of the asset is $9.1 billion.

EOS. EOS gradually strengthens its position in the market. After the news about the creation of a new service EOS Alliance asset value began to grow. 7 days rate rose by 13.4%! 1 token for $4,9. Along with other cryptocurrencies, the cost of EOS is gradually increasing after a rollback. Market capitalization is $4 billion.

Previously on this topic in the news:

06.08.2018: Why you do not need to wait for new records bitcoin in 2018? 5 reasons

2018 – not the best for bitcoin. Sluggish market demand and fluctuations in investors led to decrease of the asset price. Captainvalor Tuur Demeester sure that in 2018 there is nothing to wait for new records cryptocurrency.

Some investors and advisers, including Lee, believe that $5700 is the bottom of bitcoin, and now the asset is simply obliged to grow rapidly! Economist Turr Demeester hold opposite positions; for instance, there a clear side and a downward trend, and reversal is not expected.

The analyst said that the rapid rally, when bitcoin rose to $20 000 actually started in August of 2015 (when the asset was worth less than $200). The market needs time to review such a record.

Demeester called 5 reasons for limited growth of bitcoin:

  • Miners. Growing hash rate on the background of reducing the cost of the asset makes the mining process costly and unprofitable. Those who could not upgrade their hardware and find the cheapest electricity tariffs, retired. Bitcoin mining is concentrated in the hands of large mining farms that will soon be able to manipulate its course.
  • The decline in trading volume. Bitcoin still interested, but not so intense as before. Unlike last winter and spring, the trading volume decreased by 30%.
  • The lack of interest. American Institute of Gallup in the last quarter conducted a survey. It turned out that less than 0.5% of investors from the USA ready in the near future to invest in bitcoin. Google Analytics also confirm the decrease of people’s interest in cryptocurrency.
  • Bias of institutional investors. Funds not willing to invest large amounts, as dissatisfied with the conditions of storage and security of cryptocurrency.
  • The lack of ETF bitcoin. The economist believes that exchange traded funds (ETF) for bitcoin this year did not appear. When this happens, the assets will be available for retail investors. After the launch of ETF growth is to be expected the first cryptocurrency, because when there was a gold ETF, the price of precious metals increased by 350%!
  • News

    19.07.2018: Worldcore about summer “cryptostegia”: traders of the cryptocurrency market in the summer

    A few weeks ago, bitcoin has updated annual minima, falling below the $5800 on major exchanges. Skeptics, more than 300 times declaring bitcoin dead, update posts, John McAfee, looking down, nervous. Experts from the international payment company and the stock exchange Worldcore about what’s happening on the cryptocurrency market.

    A few weeks ago, bitcoin has updated annual minima, falling below the $5800 on major exchanges. Skeptics, more than 300 times declaring bitcoin dead, update posts, John McAfee, looking down, nervous. Experts from the international payment company and the stock exchange Worldcore about what’s happening on the cryptocurrency market.

    The vast majority of predictions of bitcoin prices, the data in the 1st quarter of 2018 was wrong. The cryptocurrency market downturn was longer and deeper than it seemed six months ago. The price of bitcoin fell more than three times, and other major crypto currencies are losing their value 5-7 times. The market decline is comparable only to the global recession 2013-2015, analysts said the company Worldcore.

    Figure 1. The visualization of the falling of bitcoin prices in different periods [1].

    The global difference of the decline in 2018 from the previous one is weak the change in the index of dominance of bitcoin prolonged drop in the capitalization of the cryptocurrency market.
    For example, in a recent study of the market of altcoins Worldcore(token WRC), are figures of the fall of the dominance of bitcoin is 10% for 2014 (from 88% to 78%), while for the 1st half of 2018 and the index insignificantly grew (from 38.6% to 41.6%) with a comparable increase in the number of cryptocurrencies. “The difference in the behavior of the dominance index shows the strengthening of the position of bitcoin as “digital gold” of the cryptocurrency market, – says Alexey Nasonov, the head of the company Worldcore, a total blur of a share of bitcoin on the stock market due to the emergence of new promising coins and tokens, the bulk of the trade passes through a pair of of btc. We see this primarily on our exchange worldcore.trade”.

    Predictions about the future behavior of the cryptocurrency market are very different from each other and depend on the engagement of experts and the amount invested in this market. Punters hope for the best and talk about how much they earn by the end of the year, and skeptics, who had seen not a single market bubble, saying that the market will never return to its previous level. General opinion suggests that the recession is global, and the prerequisites for rally Nov 2017-Jan 2018 not yet been observed.

    In a recent publication an eminent FundstratGlobalAdvisorsкасаемо breaking in June of the lower level of the April bitcoin prices mention of further price movement downward in the short term, but after about a possible rise to $25 000 by the end of the year. And before that, the company’s founder Tom Lee said that expanding bitcoin does not have a cause, and its apparent motion is a loss of 25% of the cost 355 days a year since 2010, so nothing to worry about.

    “When you talk about predictions of bitcoin prices automatically mean the whole cryptocurrency market, – says Alexey Nasonov – the Movement of altcoins tenaciously connected with the main currency. Of course, the good news about any technical or marketing data related to the alternative cryptocurrencies raise the rate, but in a bear market is local trends, courses still go back to normal. Compare, for example, the rising cost Otvesnoy last year and the rising cost Esac ago.”

    Alternative cryptocurrencies in the absence of news in the late spring – early summer, followed by bitcoin. But due to global events: the launch of the EOS mannitol(plus stop), Tezosv2, Lisk, Sonm, Oyster,Aion, Nebulas, and also a huge number of conferences of developers and marketers and other news about it, and market volatility remained high. While maintaining the capitalization of the market was the flow of assets from one cryptocurrency to another.

    Despite the great activity of the participants of kryptonyte, still no change of trend. We can distinguish several reasons why this is happening.

    The first reason is the expectations of market participants for the contraction of the cryptocurrency bubble. No one wants to go in a falling market, and finding a “second bottom”. Everyone is waiting for the all global bottom price of bitcoin to be able to jump from it and fly up. The change of trend in this case – pure stock speculation. The bulls are hiding and waiting, as one jerk to lift the bears horns.

    The second reason is a global crisis of confidence. In another study, the company Worldcoreговорится about the share Scam projects among all ICO2017-2018 from 59% to 81% according to different estimates. In such circumstances, the entrance of capital market comparable with the loss in 2/3 of the cases. This immediately is a stop-factor for any investment as long as the system will be developed for assessment of projects and teams, as well as the system of prosecution of unscrupulous developers.

    The third reason, immediately adjacent to the second, is the uncertainty of the legal status of projects associated with cryptocurrencies. Sopaka in many countries are legally uncertain action, often do not fall under the regulators that equates the purchase token to transfer money with unknown return period and uncertain returns, depending on the mood and success of the project team. Not surprisingly, in the absence of the influence of crowdfunding on the final product, it is impossible to calculate the competence of the team, the amount of several thousand tokens of altcoins is the current ceiling of investment attractiveness of the stock market compared to the equity market.

    “Summer trends 2018 – consolidation of participants around increasing the transparency of the market – sums up Alex Nasonov, testing different approaches to the infrastructure of the blockchain – EOS, Tezos, Nebulas, Sarasaparilla, EmeraldЭфириума classic. Any major changes in market position is unlikely, all waiting for the fall. Historically, all growths of the market are connected with the end of the year, so during the summer you can relax and identify the most promising object of investment”

    [1] Source of data – exchange Bitstamp(BTC/USD), the processing and graphics – howmuch.net

    News

    18.05.2018: Bitcoin is no longer popular! China has made a rating of TOP 10 cryptocurrencies

    China has published a ranking of the TOP 10 most popular cryptocurrencies. Digital assets were assessed according to 3 criteria: technology, innovation, application. The results are shocking: Bitcoin was not included even in the top ten.

    Considered 28 of cryptocurrency, the rating is as follows:

  • First place went to an Ethereum – he was awarded maximum scores in innovation and technology.
  • Steem – cryptocurrency social network Steemit to distribute content. The platform is characterized by high transaction speed and reliability.
  • Lisk. A decentralized platform for building applicationsbased Ethereum developers that left the project.
  • NEO. Competitor broadcast, also is a platform with smart contracts for decentralized applications.
  • Komodo. Digital currency combined quality and zcash for bitcoin. A high degree of protection through innovative protocols, secure payment system.
  • Stellar. The platform is designed to facilitate the exchange of Fiat currency and cryptocurrency, as well as payments.
  • Cardano. The blockchain is the platform for building smart contracts and decentralized applications.
  • IOTA. The platform to sell thingswith a high level of protection and its own cryptocurrency.
  • Monero. Currency with a high degree of anonymity, her “trick” – a ring signature by which it is almost impossible to trace transactions.
  • Stratis. A platform for building decentralized applications and implementing them in companies.
  • Ripple the Chinese are not appreciated – it is set in 17th place, Litecoin 21, Bitcoin Cash appropriated in 25th place. Closes rating token NEM. Bitcoin modestly housed in 13th place. For innovation, he was awarded the highest score, but the development of technology of “digital gold” has failed.

    Recall what your rating was and the U.S. Agency Weiss Ratings, in this bitcoin also received a low rating.

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