article read old coin market analysis KW06 -:
within the last week the total market capital to EUR 279 billion has fallen. It could rise again to currently 303 billion euros, but the consolidation will continue and there are currently a few technical signals of improvement.
The performance of the ten Kryptowährungen with the highest market capital, which is specified in billion euro is shown. For Kryptowährungen, that are exchangeable currently not directly in euro, the respective trading pair was with Bitcoin as base and converted into euro.
January low, Chinese new year, 60-day cycle – the explanations which want to explain purely temporary since the beginning of the year continued bearish sentiment, are manifold. But even if the fundamental value of Kryptowährungen with stop by the credit card company’s experiences regulatory efforts, and concerns about tether is not accessible, it is is this news to fire for all kinds of worries. If in addition it is considered that Bitcoin had to lose 66% its value since reaching the all time highs one can understand that the market is uneasy.
Yet it should be stressed: none of the news has been the fundamental value of the Kryptowährungen in question. With developments such as the lightning network also the scaling problem of Bitcoins will be picked up proactively, so that there is reason to hope that the descent comes to an end, if the nervous hands leave the market.
In any case, all currencies are overthrown. “Crashed” is deliberately selected that cannot be called a decline of at least 19% within a week as a light consolidation. Despite this market unrest, the structure has become top 10 barely changed – only Litecoin could rise through the comparatively lower Kursfall of NEO. Otherwise with ripple, Cardano, EOS and NEM fallen four currencies by at least 40%.
Best price performance: Litecoin
how is also the other Kryptowährungen Litecoin gone low, could, after all, only a decline of 19% present – at least a third less than the currency crash of Bitcoin. Accordingly Litecoin could develop positively as the only currency of the ten largest Kryptowährungen in comparison to Bitcoin.
A negative and falling MACD and a RSI 45 lead to a neutral to bearish impression of . The support is described by the dip from February third. resistance is described by the EMA50 and the EMA840. An upgrade over this could break through the existing downturn.
Worst performance: NEM
NEM is now already the second time the “losers of the week”. The downward trend embarked since the beginning of the year has not been tested just not this week, the maxima of the first and fourth February suggest forming a steep downward trend.
The negative talk a MACD and RSI at 36 bearish language. The most important support is described by the minimum on 2 February, falling under the same would test the EMA840. The most important resistance is described by the maximum on 4 February. An upgrade this would break through the steeper downward trends currently shaping up.
Stability of the top 10
the downward trend by NEM could be a reshuffle of the top lead 10: should IOTA will increase by 4%, or NEM must cope with a further decline of 4%, NEM in favor of IOTA would leave the top 10. DASH would require for a price increase by 13%, which would however be possible for Kryptowährungen. The composition of the top 10 is so much more unstable than in recent weeks.
On average, all Kryptowährungen to 35% have fallen. In the top 100 only DigixDAO and Revain a significant increase by 65% and 22% respectively have. In both cases here newcomers in the top 10 are to be expected, the market capital of both Kryptowährungen is much less than one billion.
Ardor and ICON are the course losers of the week with a decline of 57%. In the case of ICON the Summit conducted in the last week investors did not seem to have inspired, apparently, man would have hoped announced launch of the main of of nets of also wallets on the same. Overall the reason will be however, as in the case of ardor rather that both Kryptowährungen thanks to various news investment objects were in the last weeks of popular .
Is interesting to see, that significantly less than most of the other Kryptowährungen have fallen Bitcoin that indicates that the time of more emotion-driven, nervous investment is perhaps over and many weak hands have left the market. At all understandable frustration if the red, of course fall time, it should be remembered that we are now witnessing the underbelly of an incredible year send rally. Bitcoin is where he stood in mid-November after a drop of more than 60%. This naturally also vice versa means that Bitcoin is increased by 176% for not even two months. Even now, the Bitcoin course is six times as high as at the beginning 2017! The current price falls should be considered so not as the final end of Kryptowährungen, but only as at the end of the rally since November.
Disclaimer: The rate estimates shown on this site represent no buy or sell recommendations. You are only an estimate of the analysts.
table data on the basis of coinmarketcap.com
chart images based on the data of coinbase.com and poloniex.com, respectively.