Course summary week of October 8-15: TRON, IMF and other drivers
Course review for the week of October 8-15: TRON pleased investors, but then came the IMF and all upset, albeit briefly.
Largest by capitalization of cryptomonad 8 – October 15, 2018
The price 15.10.2018 09:20 UTC+3, $
Change within the week
The second week of October 2918 year began optimistically: TRON has grown on news about the launch on 8 October a new version of VM TRON Virtual Machine (TVM), a special system which is used by the applications that use the blockchain TRON. Analysts started talking about a sweet future – the big companies will start to use the blockchain for this coin in their projects, and soon it will be included in the seven most capitalized.
Other cryptomonad this HYIP sluggish – TRON is still not XRP, which at the end of September news on xRapid has strool the whole market to grow. From TRON capitalization is about $1.6 billion, XRP – about $16 billion There is a difference.
On 8-9 October, the market started to grow after a long side trend, but it was clear that it is long. Because the volume of trade remained relatively small.
And here in the second half on 9 October, the market again went into a correction, and trading volume declined even more. The reason – the publication of the report of the World Economic Outlook prepared by the IMF experts. The report included a traditional horror stories and warnings about scriptactive – volatility, lack of supervision. To that we are used to, but then the situation was worsened by the IMF warning about the high risks of a new global economic crisis.
Usually after such announcements, the outflow of capital from emerging markets — emerging market. Behind him ran a capital and new markets, including from the stock market. Followed a two-day correction on 10-11 October, after which the market goes into a sideways trend.
It all ended quite major: the Korean and Chinese markets in the morning, began buying up scriptaction, primarily bitcoin. The result for several hours of course the first cryptomonad soared more than 5%. The reason? The markets scratching their heads and returned to moderate optimism after the hysteria caused by the IMF report. Monday morning on Asian markets began to show the optimism of local investors, including scriptactive.
While almost 4% collapse quote of the Tether (USDT) – stabilini through which crypto-currencies are actively traded on Asian exchanges.
A sharp climb rates amount of cryptocoins from the first three, and sagging USDT analysts with trading bots that reacted to the decline in rates before and followed a sideways trend. This here addition to post-traumatic optimism of investors.
The end of the week, bitcoin was the only cryptomonas, who had losses on 10-11 October. Looks like the lower volatility of BTC? It’s boring for speculators, but it is interesting for application in large-scale calculations. And creates conditions for change cryptencrypt. Bitcoin may well play the role of kind of “informal stablon”. After all USDT showed his inability to work at parity rate with the underlying asset, the US dollar, during the turbulence.
What will happen to the market? Waiting for news – from the regulators and from technology projects. Then the rates will go up again. But not in the regime of turbulence, and the smooth and sustained rally.