The big slump on Bitcoin also reflected in the market. Bitcoin did not hold at $ 7,000. We start the weekend very negatively and we see a drop of altcoins by about 10% per day.
Cryptocurrency market currently has a total market value of $ 194 billion. The decline from high in 2020 is $ 112 billion and bitcoin dominance is 64.4%.
The best growth yesterday was:
The biggest drop was recorded:
Bytecoin (BCN) $0,000237 USD (-15,48%)
Blockstack (STX) $0,091284 USD (-13,39%)
Bitcoin SV (BSV) $183,46 USD (-14,71%)
Matic Network (MATIC) $0,011955 USD (-12,46%)
Algorand (ALGO) $0,175149 USD (-12,50%)
Zcash (ZEC) $35,87 USD (-11,44%)
World markets yeterday
SP500: 1,46 %. NASDAQ: -0,12 %. GOLD: 0,78%. DOW J.: 1,22 %
[BTC / USD] In 2020 to present value: -3,5%
At the moment we can see in the graph that Bitcoin did not keep the value of $ 7,300. We are currently just over $ 6,900 and are on a former resistance that should now act as support. We also see a blue line of support on the graph. These two support areas will have a positive impact on the market, and bulls will want to bounce up there.
It is therefore necessary to monitor stocks and mainly world indices such as NASDAQ, DOW J. or SP500. In the event of a significant decline, a short break from the BTC should be considered. I would set the Stop Loss below 6,900 USD support. Beware of bull trap. Good luck.
[LTC / USD] In 2020 to present value: +0.81%
Litecoin is currently at $ 41. As we can see in the graph, the current slump may stop at 2 levels. In the first case, the bulls could gain support at the bottom of the uplink channel. The second level is a weekly support of $ 37-38, where we can bounce up.
Selected coins from top capitalization yesterday:
Bitcoin (BTC) $6 821,91 USD (-6,41%)
Ethereum (ETH) $155,75 USD (-8,62%)
XRP (XRP) $0,184108 USD (-7,66%)
Bitcoin Cash (BCH) $230,98 USD (-11,06%)
Litecoin (LTC) $41,55 USD (-9,70%)
[crypto coins=”BTC,LTC” columns=”2″]