In today’s overview, we’ll look at the charts to see how Bitcoin, Nasdaq, and Litecoin were doing. The situation calmed down this week and the bulls could rest for a while.
Crypto market currently has a total market value of $ 184.8 billion. The decline from high in 2020 is $ 122 billion and bitcoin dominance is 65.6%.
The best growth yesterday was:
EDC Blockchain (EDC) $0,035819 USD (172,68%)
Blockstack (STX) $0,100899 USD (18,42%)
Augur (REP) $10,83 USD (17,22%)
aelf (ELF) $0,062928 USD (12,63%)
Quant (QNT) $3,43 USD (13,06%)
The biggest drop was recorded:
DxChain Token (DX) $0,001252 USD (-2,37%)
Bytecoin (BCN) $0,000237 USD (-3,24%)
Enjin Coin (ENJ) $0,086086 USD (-2,97%)
All datas are from coinmarketcap.com
World markets yeterday
SP500: -3,28 %. NASDAQ: -3,27 %. OIL: -8 %. GOLD: -0,36 %. DOW J.: -3,83 %
There is one fundamental question. How long will central banks implement quantitative easing to subsidize the state and businesses? It is just a patch and, in the long run, we will probably go down how the situation around coronavirus in the US and Europe will escalate. But only time will tell how it will eventually be. But at the 2 – 3 month horizon, I assume that investors will be negative.
[BTC / USD] In 2020 to present value: -7,25%
We can say that this week we are calm and Bitcoin is moving in the defined channel. The current resistance remains at $ 7,100 and we are looking for support at $ 6,000. Currently, we see peace on NASDAQ, and that is the reason for calming the situation on Bitcoin. We will not write again why this is the case, we have been writing it for a long time in the market overview. But a certain thing is that Bitcoin does not behave like digital gold, but rather as stocks, and that means we cannot expect massive Bitcoin growth in times of crisis. If we expect growth that will surpass ATH from 2017, it is only after this crisis.
Why BTC fell after midnight?
[LTC / USD] In 2020 to the present value: -4.6%
We currently see price $ 39 for one LTC. We see resistance at 50-52 USD. At the moment, Litecoin is the upward channel, which should end at $ 50. We see support at $ 33. Like Bitcoin, Litecoin rebounded and we have been growing by a few percent for almost a week. The problem with this growth is that it’s artificial – both on NASDAQ and Bitcoin.
We can still see values around 25 USD for Litecoin and so on. It is certainly not the first and not the last significant decline in Litecoin. But we need to think about the history and future of Litecoin. In almost every year of its history, Litecoin was above $ 100. Current values at $ 39 are very low given the potential of the LTC.
Selected coins from top capitalization yesterday:
Bitcoin (BTC) $6 177,23 USD (0,18%)
Ethereum (ETH) $131,97 USD (0,49%)
XRP (XRP) $0,157134 USD (7,61%)
[crypto coins=”BTC,LTC” columns=”2″]