Whether to wait for the growth of cryptocurrencies? Analysis courses TOP 5 assets 06.08 – 10.08

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To replace the rapid decline in cryptocurrency came flat. Total market capitalization decreased to $226 billion. Traders await the intensification of consumer activity that will allow the bulls to take over and over again to raise rates.

Rate analysis the TOP-5 of cryptocurrency

Bitcoin. During the day, the asset value grew by 2%, but bitcoin is back in a downtrend. During the week the price of the cryptocurrency fell 12%. Does not exclude the continuation of the sale of up to $6,000. Until the end of September should be approved or denied the launch of ETF-bitcoin – this event can be a powerful incentive for new growth (or decline) of the market. While investors took a wait. The nearest important support is at the level of $6400 (it reinforcements the 100-day moving average). Capitalization is $111 billion.

Ethereum. During the week the price of the asset has decreased by 12.5%, while the rate continues to decline. At the time of writing for 1ETH give $360, the closest support level is around $350. The air returned to the descending channel, the market capitalization of bitcoin has dropped to $36.5 billion.

Ripple. A true record this week. However, the cryptocurrency was surprised not intensive growth and rapid decline. 7 days the price of the token has decreased by 23.5%. Despite the fact that the correction of the other cryptocurrencies in principle in line with expectations. Experts attribute the fall to the fact that investors are losing interest in XRP. Token is not used in any application developed by Ripple, and the third place in the ranking is only through early investment. Capitalization is $13 billion.

Bitcoin Cash. Hardwork bitcoin is not far behind from the brother and went to the rollback. For the week, the cryptocurrency has lost more than 17% of the cost. At the time of writing for 1BCH give $595, the immediate support is at $587. Capitalization dropped to $10 billion.

EOS. The hype around EOS began to abate, and just as with other cryptocurrency asset has moved in a downtrend. During the week the price of the digital currency dropped by 23%. Capitalization is $5 billion. In the back EOS breathes new competitor, Stellar, forcing Litecoin with 6-th place.

Experts call, the correction is expected, so no reason to panic there.

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%!
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    03.08.2018: natural pullback. Analysis courses TOP 5 cryptocurrencies for 30.07 – 03.08

    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.

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    02.04.2018: 5 ways to make money in a bear market cryptocurrencies

    To capitalize on the bullish market can every trader, but bearish markets – more difficult to trade they will need some knowledge.

    Inexperienced traders believe that if the asset reaches the “bottom” should be patient and simply wait for the market pullback. But it’s not. If you are able to determine the trend of the market, it can earn.

    The shorter the time frame deals, the faster you can make a profit. For example, on platforms Okex and Bitmex offer futures and contractsfunded every 8 hours. There are other proposals on the cryptocurrency exchanges. Beware of futures altcoins, while bitcoin is the leader, and under it adjusts the entire cryptocurrency market.

  • Margin trading. With margin trading you can earn good money or lose all the savings. It’s the same futures, just raise the bet, you can an unlimited number of times. It is important to learn the basic principles of technical analysis: beginners can start with a look at RSI, moving averages, Fibonacci, indicators of the market.
  • Scalping markets. When the market is in a downtrend, profit from assets can be obtained even with small price fluctuations. Scalping is hard work, to close a deal when you achieve a small profit of few pips. 20-30 transactions per day – and you will find a good catch. However, this strategy is not without risk: no one can predict how the market is affected by news or new investments.
  • Search of new projects. In bear markets, we should not rush to trade. It is better to engage in research projects whose potential is underestimated and after the turn of the market tokens will cost you more. You should pay attention to the tokens that dropped in price by 70% or more from its record high. Traders impatient people, the price often drops tokens because of the fact that the platform is under development, and market participants are losing to the currency of interest.
  • Explore ICO. The primary offering of coins is a promising direction. Before you invest, you should study the technical documentation. Discuss upcoming transactions with more experienced traders, read the white paper and not invest all money in one project, no matter how interesting it may seem.
  • Look for alternatives. Crypto trade is not the only way of earning. You can get an analyst, developer, marketer profession is in the cryptocurrency area, and really intelligent professionals little.
  • Be aware of what is happening, don’t miss the news and analyze the market – even then bearish trend will bring you good profit!

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