Crypto market second week of 2018 was less positive than the first. Some virtual coins from the TOP-10 lost momentum and moved into the consolidation phase.
Crypto market: the top ten and not only
There are assets that continue to storm highs, these are:
- Ethereum , regained the second place in the ranking by capitalization. The figure is 130 billion dollars, which is almost double the value for Ripple, whose market capitalization is about 80 billion. The ethereum is on historical values around 1350 dollars for one crypto coin. Over the week, the increase was 30%.
- Stellar remains in the long-term up-trend, the market decline for the week was 15%. The price behavior of Cardano and IOTA is similar to Stellar’s profile.
Ripple, after vigorous growth, lost 35% in the last 7 days. A minimum of krypto coins fell on Friday. Bitcoin Cash, NEM, Litecoin and Dash are gaining strength in the lower zone of the weekly range in the market. Correction is quiet, without panic sales. Probably, investors do not trust too fast records and tend to redistribute funds.
Of the TOP-50 best in the capitalization of crypto coins, the record puts NEO , its rate has exceeded $ 130.
- Quotations KuCoin Shares, SmartCash, Decred, Byteball Bytes, Syscoin, GameCredits also steadily gained growth.
- Even more record holders from the first hundred crypto coins from 50 to 100th place.
At the same time, capitalization in excess of one billion is only for NEO, KuCoin Shares and SmartCash.
Crypto market: how is it going with bitcoin?
Bitcoin remains in the consolidation, with a bearish trend. Consider, from a technical point of view, what you can expect. If the weekly chart of the crypto market displays a fractal indicator Williams, it becomes clear – each new historical swing was preceded by a lower extremum.
At the moment, such a minimum has not yet been formed.
There is a difference in the construction of fractals from different suppliers of liquidity. On the graph from the crypto exchange CoinBase the bottom fractal is, but from Bitstamp, CEXIO, Poloniex and other large sites there.
The bottom fractal means that supply and demand have found a short-term equilibrium point:
- Those wishing to leave the market for various reasons carried out the plan.
- Those who want to enter have made an investment at a reasonable level.
Now this level is not confirmed, and the value of the expected minimum should be lower than the December rollback, which reached 11.5 thousand dollars.
The only visible support on the crypto graph is below 11500 – around 8 thousand dollars. This figure was also spoken by Novogratz early in December. Even when the rate drops to 8000, the trend line will not be broken.
If you pay attention to the cyclicality of the market – the last year, fractals on rollbacks occurred on average in 9-11 weeks:
- For an earlier period, there is no such exact cycling, now it’s 9 weeks after the November 12 low.
- Of course, you should not expect 100% that bitcoin will find the bottom by the beginning of February, but by the middle of next month it will most likely happen.
Experts from the world of fiat finance persistently await the collapse of the crypto-currency
If supporters of the crypto sphere weigh probabilities and redistribute resources, experts from the world of fiat finance persistently wait for the collapse of the crypto-currency. It’s funny to watch for this, as well as for double standards of analysts:
- What is called a correction in the fund market, for bitcoin turns into a fall.
- What is called the growing demand in the precious metals market, for crypto coins, there are no other words except the bubble.
However, it is necessary to recognize that the market has been too hot recently and ran ahead on expectations. Crypto-currencies, like other financial instruments, need time to consolidate.
