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:
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.
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.
Be aware of what is happening, don’t miss the news and analyze the market – even then bearish trend will bring you good profit!