Once the market capitalization of the crypto market could not overcome in the last week the resistance at 268 billion dollars, dropped the capitalization of the market to the current level of 203 billion US Dollar. This means in the week compared to a decline of 20 percent.
From Stefan Lübeck
30. September 2019BTC$8.319,94 , and 0.61%part Facebook Twitter LinkedIn xing mail
Also all the Top 10 Coins to this week, a majority of cope with strong price declines. All 10 crypto-currencies have a double-digit rate reductions. In particular, the Bitcoin-SV-price with a slump of more than 30 percent, but also the Binance-Coin-rate, with a Minus of 29 per cent, and again to the weak EOS-rate, with a Minus of 28 percent on a weak week. Something “better” came, however, the rates of Ripple, with a Minus of 14 percent, and Stellar with a Minus of 16 percent through this course reductions dominated the week.
views of the market capitalization
total market capitalization on the Basis of values of Cryptocap shown
The cops didn’t make it in the last few weeks, despite several Attempts to overcome the resistance area of 270 billion US-dollars in a sustainable way. This week it came in the Wake of the Decline in the reserve currency Bitcoin, a good twenty percent to a break of the major support area at 240 billion dollars. Thus, in the last-mentioned stronger breakout from the sideways took the range down. The market capitalisation of the crypto-market, came back as a result significantly, and the psycho-tested logically important mark of 200 billion dollars. Also in the last few weeks, supportive exponential moving average at the end of the broken past 200 days.
This development has led to a deterioration in the chart picture considerably. Although the area around 200 billion of US currently holding a Dollar on a weekly basis, however, for the time being, are only spoken of a breather, the bears currently have the upper hand again. Whether this means the beginning of a major course correction in the case of crypto-currencies, decides may be at the support zone at 180 billion dollars. It is shown that the weakness of Bitcoin is charged again to the altcoin market. This development confirms the multi-articulated presumption that there is still no sustained rises in the prices of the Altcoins in sight are.
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Only when the market capitalisation of all Cryptocurrencies, the 240-billion-US-Dollar-mark on a weekly basis, recaptured, we can speak of a relaxation of the bearish trend. Instrumental in the development of the key currency Bitcoin will be in the coming weeks.
Best price development: Ripple (XRP)
rate analysis on the Basis of the value pair to XRP/USD on Bitfinex
Also, Ripple is not immune to the downward spiral of Bitcoin falls to -14 percent, but six percent less than the base currency and the overall market itself. The week’s low at 0,213 US dollars within the grey support zone, it seems that it was used by buyers for first entrances. Currently, the price of Ripple is trading at 0.239, US Dollar, and again just above the last prominent lows of 14. August 2019. This, however, should not obscure the weak chart of the overall technical situation over. Although trained in the last days of higher lows but also lower highs. You look at the weekly chart, has Ripple missed it in the previous week, the exponential moving to break the average of the last 20 weeks upwards.
On the other, the XRP has just broken the course with a fraction of the 0,248 US dollars to the Support of the super trends of the week chart down and, thus, a sell signal is generated. The chart image can be described from the point of view of the cops, therefore, as a strong beat. The objectives are currently more likely to find on the bottom. The overall market is more likely to Ripple start the lower edge of the support zone at 0.2 US dollars. This area holds would even be a Test of the area to 0,155 U.S. dollars to imagine. Back in the camper here areas to venture, would have to establish the rate above the 0,268 cents on a daily basis. Then a start of the trend channel the upper edge of 0.31 dollars would be possible.
RSI and MACD provide sell signals
The indicators clearly support the bearish variant. The RSI as well as MACD indicator on the daily chart show sell signals. The RSI with a value of 39 already bent back down and acts absolutely powerless. The weekly chart shows a similar picture. Here, too, both indicators show bearish tendencies. The RSI points to the South and indexed with a value of 37, the seller will have the helm firmly in the Hand. Also the MACD is pointing downwards and a strong selling has momentum.
Worst course development: Bitcoin SV (BSV)
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rate analysis on the Basis of the value pair BSVT/USD on Bittrex
As mentioned prior to 14 days of Bitcoin, SV is the weakest of the Cryptocurrency in the Top 10. Thus, the bearish sentiment is confirmed by the 15. September. With a reduction of almost 31 percent on the week view, BSV is also the third weakest crypto-currency, is among the Top 100. After the course the exponential moving average of the last 200 days at 125 US-couldn’t overcome Dollar, followed this week by the breakthrough of the trend channel on the bottom, bringing the sell-off accelerated. The daily loss on the 24. September amounted to 30.3 percent of the points here can be of a panic spoke. Also, the two support zones at 108 US dollars and US $ 99 have been broken without resistance, the cops. The Deep in 77,20 US Dollar ranged up to two dollars to the old resistance before the bullish breakout on the 20. May pre.
In the following days the cops tried to stabilize the rate, however, it looks like currently only after a bearish Continuation pattern. A retest of the weekly lows, as well as the US $ 75 are therefore currently very likely. None of these supports should keep is the first with a start-up of the 66,60 US dollars, and including a Test of the all-time lows in 49,66 US Dollar. Through the training of new lows, the super-trend in the weekly chart has been broken in addition, in the case of 87,50 US Dollar down, which has generated another sell signal. As long as the price of Bitcoin is not SV it creates, the 104 U.S. dollars on a daily point of view up to pierce and to go back in the channel, the benefits clearly outweigh the downside risks. All larger time units in the chart viewing deliver bearish signals! A return in the range between 93 and 97 US dollars represents a re-short opportunity.
from the indicators point of view, an clearly a lot of bids due soon Sentiment
The RSI as well as MACD sell signals provide day-to-day chart-of-date. The RSI has fallen, with a value of 20 this week in addition to a new absolute Low, which is still anemic. As long as the RSI does not come back on the 45, can be said to be a abstinence of the bulls. Also, the MACD looks weak. In the weekly chart, the picture looks no better. The RSI is pointing South and noted at 40, which also has a bearish character. Also, the MACD in the weekly chart has a sell signals and makes no effort new bullishes Momentum to show for it.
stability of the Top 10
After the Top 10 crypto-currencies had in the previous week, a slightly positive chart development, this week strong to the South. All ten of the crypto-currencies have tees with a disproportionately large Price to fight between 14 and 30 percentage points. Since Stellar is still relatively good can beat them and Cardano is one of the strongest losers, go Stellar and Cardano positions. Thus, Stellar moves to a place again and jumps back to ninth place.
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The market environment in which the altcoin market has deteriorated due to the sharp drop in Price of Bitcoin this week much. Only 11 crypto-currencies are on a weekly basis, a course plus. Among the few winners, majority with Tether, True-USD & co., however, the Stable Coins. The only positive exception is the crypto-currency of the soul, which can rise under high-volume by 61 percent. Also the winner of the previous week, Swipe, can convince with a price increase of more than twenty percent. Among the crypto currencies with the largest Declines this week, Lamda, with a price slide of about fifty percent, as well as the Iost Token with more than 35 percent price decline. As at the beginning of September, have again more than 90 percent of the Top 100 crypto-currencies a rate discount. A possible sustainable price increase now seems for now to be off the table.
total market capitalization exclusive Bitcoin on the Basis of values of Cryptocap, as well as on the Basis of the value pair is BTC/USD on Coinbase
This week the Chart of the Altcoin signed-total market vs. Bitcoin the on 25. September started the slump in the overall market is clearly after. However, there are alternative crypto-currencies compared to the currency better, to solve their week lows. It is also positive that, at least for the time being, a new low for the year was generated. It creates the altcoin market to exceed the upper red trend channel to the upper edge of this would be currencies, a first positive indication of a stabilization of the alternative Crypto. As long as the light-green resistance area is not, however, encounter on a weekly basis to the top, but it is still much too early to speak of a possible positive development.
A look at the Bitcoin-dominance
The dominance of rose at the beginning of the week to 71,80% and has tested the upper edge of the formed flag. The breakout failed, however, and the dominance fell back to the level of the previous week. Currently, the Bitcoin domination listed just above the 70-percent mark, and by 0.25 of a percentage lower than in the previous week. As long as the resistance is not overcome in 71,80 percent, a re-Test of the flag’s lower edge is in the range of 68 percent to imagine.
the Bitcoin Should give way this week, is to classify this scenario as likely. The Bitcoin should, however, again to 9,000 US dollars, this should be his dominance beneficial. It will be very interesting to see where the movement of the reserve currency in the coming weeks and to decide whether the alternative crypto-currencies can wrest the Bitcoin market share. As a key brand for a prolonged period of dominance reversal in favor of the alternative crypto-currencies, the 65-percent mark is still acting.
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Bitcoin-dominance on the Basis of values of Cryptocap
shown The danger of a bear market is once again in the air
An exciting week in front of the completion. The crypto-currencies suffered a severe setback. In the last few weeks, repeatedly articulated to the wait-and-see attitude paid off. The significant sell-off this week has resolved the Situation in favor of the bears. The 180-billion-US-Dollar-brand in the total market capitalization of Central importance now. In the case of a breakthrough of this mark and the start of the next support at 140 billion US dollars, more larger, the price reductions are planned. Thus, in the medium-term-oriented Investors, the market continues to stay away from, and a stabilization to be seen.
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.
USD/EUR exchange rate at the time of writing: € 0.92.
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