Bitcoin almost played the fall in August
The last days of August and first days of September passed rapidly. On 28-29 August the puzzling rapid growth of altcoins, and confident, though not especially active the rise of bitcoin. It is very actively increasing rpm. Then, on Thursday 30 August, after a disappointing correction. So annoying that BTC fell below $ 6,900 per coin. With him sank and altcoins. But the good sign was that the approach to support levels of most coins was accompanied by an increase or stability of turns.
But 31 Aug again start the wave growth rate at which the market spent the weekend without much loss in momentum trading. The morning of September 3, the market is met small correction which is not surprising in view of the preceding rally.
And if the return of bitcoin in the bad levels occurred simply because of its apparent undervaluation, then Althingi in each case the reasons were individual and related to technological news.
Largest by capitalization of cryptomonad 28 August — 3 September 2018:
The price 27.08.2018 06:10 UTC $
The price of time loan-to 03.09.2018 05:50 UTC $
Change within the week
Bitcoin continues to designate growth. Researcher Panos Monocots, a contributor to Forbes magazine, brought three econometric estimates of the “fair price” of bitcoin. According to the Spencer Whitley, bitcoin should be worth $1 080,58, according to Arthur Hayes — $8 778,11, according to Monocots — $8 335,54.
The huge variation is caused by the fact that Wheatley used the rating based on the demand. And it is undervalued. Hayes Monocots are based on estimates tied to the costs of the proposal.
Specialists also by technical analysis argue that the bottom is about 6000 dollars. Tom Lee of Fundstrat still believes $20,000 per bitcoin by end of year.
In the camp alcaino hero of the week was, of course, the Dash, which gained for the week by almost half and moved into the leading group from 14th to 11th place. It grew by 23% in just the first day this week — August 28. Why? First, because he lost in the winter much more than other coins of the first echelon — about five times fell. And secondly, worked the news that the company Kripto Mobile Corporation (KRIP) has announced an exclusive deal with the Dash, which may lead to the emergence of a new line of smartphones with support for encryption, consumer-oriented Latin America. And at the end of the week soared the turnover on Dash due to Chinese investors on the stock exchange ZB — this site gave almost 2/3 of the daily global turnover. And, interestingly, the lion’s share of operations accounted for a pair of Dash/BTC. However, without technological news has not done: the project has integrated Atomic Dash Wallet in your “multi-purpose wallet with cross-chain Atomic Swap exchange and decentralized execution”. Investors like news. Which gave the result.
The second growth rate for the Monero — +25.5 percent. What is the fuel? A study of the Satis Group in which this anonymous kryptonite given the growth prospects for the year of about 1300%. Reason? The popularity of Monero for anonymous transactions and anonymous deposits.
The third hero — EOS, which has a +24.5 percent. He grew up on the news that the community of the blockchain close to the development mechanism of the referendum, which will allow to dispose the generated in the system Fund project development.
Bitcoin Cash gave a growth of over 18% on the information about the upcoming fall fork. Well, and meant that he had grown from a very low starting positions collapsed in early August after the July rally. By the way, the July peaks ($800+) BCH has not yet reached — as well as BTC.
August is over for the stock market relatively positive trend. Despite the rally of recent days, completely no loss played no one of the first 14 amount of cryptocoins. And if bitcoin is almost recovered, his neighbors in the first three — stream and XRP has lost about one third and a quarter of the cost, respectively.