The bulls didn’t have enough news from the ether: the market went into a sideways trend after a rebound

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The bulls didn’t have enough news from the ether: the market went into a sideways trend after a rebound

The second full week of September to dive into a local minimum and the rebound on the news about the specifics of the fork Ethereum, which is scheduled for October 5th. And in the end — stop slightly above those lows.

Tom Lee of Fundstrat Global believes that the role of the main investment still playing bitcoin. He also calculated by their methods, the index correction of the altcoins, and then said that the recent collapse and the present proximity to the minima of the courses is temporary. And there’s a high chance (according to Lee, again) to a new rally altcoins.

One of cryptoanalysts — Pavel Kravchenko wrote in his blog following the visit to California: “it will happen Sooner or later collapse Tether that will be an occasion to refresh the lows for a few years (even in the summer of 2017, the growth of BTC called “Tether bubble”)”. Hash#Telegraph already wrote about in what difficult situation are the stock market, widely in terms of the coin.

Largest by capitalization of cryptomonad 11– 17 September 2018

No. PPT
Asset
The price 10.09.2018 08:50 UTC+3, $
The price 17.09.2018 08:30 UTC+3, $
Change within the week
1
Bitcoin
6325,31
6488,7
2,58%
2
Ethereum
198,98
218,94
10,03%
3
XRP
0,278046
0,280883
Of 1.02%
4
Bitcoin Cash
483,48
451,51
-6,61%
5
EOS
5,05
5,37
Of 6.34%
6
Stellar
0,19302
0,204448
5.92% of
7
Litecoin
55,45
56,77
Of 2.38%
8
Monero
108,49
118,25
Of 9.00%
9
Cardano
0,076936
0,069029
-10,28%
10
Dash
205,64
196,96
-4,22%
11
IOTA
0,583151
0,57137
-2,02%
12
TRON
0,019706
0,019854
0.75% of
13
NEO
18,54
18,12
-2,27%
14
Ethereum Classic
11,29
11,11
-1,59%

Started on September 11, the monitored week — with a care of bitcoin in the local minimum ($6300, below was, for example, a week earlier), and ether — the lowest since the beginning of the year ($172). XRP has updated the monthly minimum (around $0,25) — the last time such levels it had in mid-August, when it reached its minimum in the current year. Bitcoin is Cash, too, fell to the lowest since the December rise values ($416).

Other Althingi also happened trouble — they were sunk together with coins — leaders in capitalization, continuing the bearish trend, which started in early September.

But the night from 12th to 13th of September started the rally air, and then it was followed by others. The reason rally — publication data innovations in scheduled for October 5, the fork and the message about the positive results of their first tests. As previously reported, the telegram channel, H#T, October 5 plan to upgrade the algorithm of the blockchain Broadcast version, which was called Constantinople. And on 13th September was published settings changes:

145 EIP — proposed by Alex Beregszaszi and Paul Bilik. Provides a more efficient method of information processing, called bitwise shifting.
EIP 1052 — its authors are Nick Johnson and Paul Bilik, the proposed optimization tools for large-scale calculations.
EIP 1283 — based on the previously conducted change EIP 1087, which was written by Nick Johnson, designed to help developers of smart contracts to improve the pricing system in assessing changes in the data.
EIP 1014 — authored the acne Buterin. To improve the solution of problems related to scaling, including fanovich transactions.
EIP 1234 — proposed Efri Sadan, the head of group of developers in the company Parity, which is a partner of Ethereum. Involves the reduction of rewards for mining blocks with up to 3 ETH 2 ETH and delay complexity of the algorithm (difficulty bomb) for 12 months. H#T wrote about a “bomb difficulty” previously.

By the way, tweet, EPRI Sedan of successful trial runs of new algorithms and caused a positive reaction of investors on September 13. And then it was reported that it is possible that the release of “Constantinople” may be pending for the end of October.

However, by the morning of 14 September, the rally stopped, after which the market went sideways — on the same levels of quotes, but with a strong reduction of momentum trading.

For the next couple of weeks the market will be affected two triggers. First, the FATF’s decision: publication of a policy paper on combating money laundering is expected in the second half of September. And secondly, also by the end of September it is expected from the Commission on securities of the USA a new pack solutions for crypto-ETF-funds. The market is in a state of cautious optimism, but ready to fall into a new correction. What can support it? Positive signals from the controllers and technology news.

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