Bitcoin-price and Altcoins consequences: Altcoin-market analysis

The price of Bitcoin falls to the start of the week, the entire crypto-market is consolidating in the week again. The total market capitalization is currently trading at 252 billion dollars, and almost 10 percent lower than last week. The development is in line with the tees at the Bitcoin exchange rate (BTC), the yields are also good 10 percent. Also, the dominance of the Bitcoins (BTC) in week-on-year by 1.04%. You noted with 67,30 percent but remains at a high level.

From Stefan Lübeck
On 29. July 2019BTC$9.576,00 0.88%part Facebook Twitter LinkedIn xing mail

The Bitcoin value goes down and most Altcoins. The positive image in the Top-10 Coins in the last week, a clouded again. All ten Coins are part of a two-digit price reductions. With a strong discount of 17.3% from the previous week’s winner Bitcoin SV (BSV) is currently the tail light under the Top Coins. Also, the Litecoin price (LTC) and the Binance Coin (BNB), with a Minus of approx. ten percent, as weak as the price of Bitcoin itself. Only Eos (EOS) and Cardano (ADA) can hold with only small reductions of less than two percent the previous week’s level. Also this week is the referred to selective continued strength of some of the ALT/BTC pairs. Again, some of the Altcoins perform better than the price of Bitcoin.

views of the market capitalization

The total market capitalization does not manage to overcome the important 300-billion-U.S.-Dollar mark. It fails in the daily chart is already at the middle Bollinger Band at 272 billion US dollars. Currently, a Range between 243 and 278 billion U.S. dollars, the volatility of the previous weeks went down a little. Only a fraction of the 278 billion dollars could give the market new momentum, and for the continuation of the bullish development of the previous months result.

Currently, however, it seems more likely then, as if the Support area around 230 billion dollars could be re-started. The market is currently missing in the summer of hole trapped positive pulses. Also in the last week for the first time separately mentioned capitalization of Altcoins this week to 7.4 percent. The tee shot is, however, smaller than the week minus the Bitcoin price itself, what is also reflected in the slight decline in the dominance of Bitcoin is to resist.

Eos (EOS): Better than the price of Bitcoin

The EOS course can escape the negative Trend to the weekend a bit, and shows at a discount of only 1.54 per cent, as the winner of the Top 10 Coins. So that EOS stands currently against the weak price development of the last few weeks. The EOS-rate could work during the week in the resistance area at ~4,70 US Dollar before the weekend market used across a correction. In the daily chart is a bear flag currently is thus. A fraction of 4.14 dollars on a daily basis would further exert Downside and a re-Test of Support at 3.50 US dollars mean.

not this area, would be $ 2.81, as well as the old Demand Zone at 2.32 US dollars, from which are derived objectives and, currently, more likely. Eos bounces, however, at the lower edge of the flag to the top, and overcomes the super trend at 4.88 to the U.S. Dollar, the target of 5.44 dollars enabled. Here is the downtrend line from the year high in may, coming. Than likely the baerische scenario is classified. A further correction in the overall market in the coming week is likely to lead to a further pullback of the course, and break the flag.

The price stabilization at the current level are currently not likely to be in favour and therefore also at Eos to continue the search for Short-Entrances seems. First, a recapture of 5,66 US Dollar clears up the chart for the bulls again.

The indicators show a mixed picture. The RSI indicator is in the day – as well as in the weekly chart bounced off this week in the 45-to-bottom, as long as we are on the 45, and better not pierce the 55 from below, the market is not sustainable strength. The MACD indicator provides on a daily basis, a buy-signal, has on a weekly basis, but since the 10. July, a sell signal is generated. Thus, the indicators of the negative view is predominant when considering.

Worst course development: Bitcoin-SV course (BSV)

After the Bitcoin-SV-price was temporarily increased to up to 75 per cent, were consolidated this week by more than 17 percent. Of course not managed to overcome the resistance from the downtrend line and super trend in the daily chart and new highs to form. Instead, it came on the weekend to a renewed start-up of the support area at 140 US dollars. For Bitcoin to SV was also the mentioned long scenario from the previous week: The price initially rose by almost ten percent, before on Sunday, the 28. July, together with the weakness of the overall market, under the Stop-Loss level slipped.

Currently, the Bitcoin SV price is struggling with the 150äUS-Dollar mark. As long as Bitcoin SV can’t make it, to break the downward trend line and also the middle Bollinger Band from the daily chart to the top, there are relapse chances in the direction of the super-trends at 134 US dollars. Not this support is to be expected with a re-start of the July lows at 106 US dollars.

Overcomes Bitcoin SV, however, the downward trend line and closes at end of day closing price for it, there is again increase in opportunities in the direction of the US $ 180 and the 195 US dollars. For the time being, the bearish scenario prevails also here. It remains to be seen whether Bitcoin SV stabilised in a sustainable manner. Can the Bitcoin-SV-price the exponential moving average of the last 200 days or defend the sharp increase in the last week was just a flash in the pan?

The RSI and the MACD-indicator in the daily chart are currently different signals. The RSI can’t do it currently, to overcome the threshold value of 45, and the downward trend line. Only over 55, the Situation is brightening in the RSI. The mark of 55, this would activate the buy-signal.

The MACD indicator, however, a slight bullish delivers signals, so far, of course, can not benefit but. It is the bearish overall picture is dominated by at the moment. For now, no Trade offers. It remains to be seen, the direction in which the Bitcoin-SV-price-in next week’s moves.

stability of the Top 10

Was the Situation in the last week is still positive, the market capitalization of the Top Coins this week with am reduction of an average of seven per cent, back again. The rankings of the Top 10 Altcoins have changed this week only on a Position. Stellar (XLM) took it back over to Tron (TRX) on the 10th place in advance. Tron suffers currently still in China launched investigations and possible charges against the founder, Justin Sun, and loses on a weekly basis by over 23 per cent. Furthermore, the Top Altcoins are strongly correlated with the Bitcoin price, which is why it is important to observe exactly how the price of the reserve currency in the coming weeks will develop.

winners and losers of the week

The negative development of the Top 100 Coins in the last week has been continued in the expiring week. Many of the Altcoin/USD pairs must once again sustain larger price reductions. Only About twenty percent of the Top-100-Coins have a positive sign. The ALT/BTC Charts look slightly stronger, the courses highlight this week, a new 20-day highs. Also, the altcoin total market vs. Bitcoin Chart can mark a new week high of the year low solve:

In a weak market environment may continue in the sequence of the OKB Coin week again with a week plus of 31 per cent at the top. Also, the Coin Ren (REN) can increase with a price of 22 percent, a FinTech project, which distributed funding to allow between block chains.

Among the biggest losers in Bitcoin Gold (BTG) are to be found with -32 percent, Metaverse (ETP) (-30 percent), as well as the relatively new Coin BitTorrent (BTT) with -22 per cent. Even if the Altcoins currently has, overall, slightly better than the price of Bitcoin will perform the Situation in front of a bearish character.

in the past week, mentioned correction in Bitcoin’s dominance continued in the expiring week, as suspected. The dominance of the BTC is currently trading at 67,27 percent. The goal in the area of the 65-percent mark continues to be in. A strong correction, however, is not in the daily chart currently shows. Only in the case of a break of the support area between 58,20 and 57,50%, the probability of a sustainable recovery of the Altcoins on the rise.

Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.

The chart images have been using trading view created. To be considered, the value pairs of EOS/USD bitfinex.com and BSV/USDT on bittrex.com as well as the indexes of TOTAL and TOTAL2 of Coincap. The latter is divided by the value pair BTC/USD on Coinbase.

USD/EUR exchange rate on the cut-off of 0.90 Euro.

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