Bearish trend is far from done – analysis courses TOP 5 cryptocurrencies for 27.08 – 31.08

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Experts believe that the bearish trend is far from complete, and recent attempts at recovery – it is only speculation and sotovye of the transaction. The bulls are not strong enough to break through the resistance and help the cryptocurrency to reach new highs.

Rate analysis the TOP-5 of cryptocurrency

1. Bitcoin. After making a low of$6790, which is a crypto-currency dropped on Thursday, the rate fell back slightly. At the time of writing bitcoin is trading at $7003 and testing the resistance line of $7020. If the rate will begin to decline, the nearest support is around $6900 (100-day moving average) and $6800 (line, Fibonacci 23.6%). If the bulls manage to overcome a mark of $7000, the growth potential will increase to $7100 $7400.

The founder of McAfee John McAfee in an interview with NewsBTC said he was confident in the imminent rise of bitcoin. “Let’s see how many people and businesses accepting bitcoin. The rise of bitcoin – pure mathematics, the course will continue to grow.” Until a week bitcoin was able to grow only 4.5%. Market capitalization is $120,6 billion.

2. Ethereum. The ether is nothing to boast. Important news that could affect the course, do not go out, so cryptocurrency went into rollback. At the time of writing for 1 ETH give $280. The nearest support line is at the level of $270. Per week course Ethereum decreased by 1%. Market cap is $28.7 billion.

3. Ripple. According to Weiss Ratings Ripple – the most promising cryptocurrency of 2018. Its course this week was fairly stable and grew by 2%. Analysts expect the correction up to the level of $0,32 and re-testing the resistance line of $0,34. Market cap is $13.2 billion.

4. Bitcoin Cash. Younger brother bitcoin special records are not happy. For the week, the BCH has increased by only 1%. At the time of writing for 1 BCH give you $541. The nearest support line is at the level of $535. Market cap is $9.3 billion.

5. EOS. For EOS this week was clearly more successful than other cryptocurrencies. At least in the top ten at the moment increasing only the price EOS. During the week the price of EOS has grown by 21.5%. This is attributed to the enhancements of the network and launch of new services. 1 EOS give $6,16. Total capitalization is $5.5 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

    06.06.2018: “Bitcoin will not be a global currency” – CEO of Ripple

    CEO Ripple brad Garlinghouse in an interview with CNBC stated that bitcoin will not become a world currency. Previously, the Apple co-founder Steve Wozniak said he hopes that bitcoin is a true digital gold, and could claim the role of a global currency.

    Garlinghouse have your opinion on this subject: “Bitcoin will not be a panacea and will not solve all problems. XRP transaction a thousand times faster, bitcoin very slow. Faith in the future of one currency is maximalist ideology“. Ripple CEO added that in the cryptocurrency world will be a lot of winners. He has previously stated that the influence of bitcoin on the price of other digital currencies will weaken.

    How is the situation really

    It is true that bitcoin can not boast of a quick transaction. According to statistics, the average time of a transaction, BTC – 42 minutes, the same Ripple effect is 4 seconds. Although it is worth noting that the trading volume and capitalization of the first cryptocurrencies are much higher than XRP. However, the transaction rate of bitcoin is the result of using blockchain technology, which has not yet been scaled with the expectation of a larger number of users. Ripple uses a completely different technology. The company primarily positions itself as a payment service and actively cooperates with major financial institutions.

    If bitcoin and no longer the world currency, this role is not destined to Ripple. Bitcoin at least is a decentralized system, while 60% of tokens XRP belongs to the company-developer and don’t like it for many investors.

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