Today we look at Bitcoin, Litecoin, Monero and Huobi Token. Bitcoin has not maintained $ 8,600 today and is threatening to fall into the $ 8,000 support area over the weekend. Koronavirus moves world markets and sends them to red numbers.
At the moment, the crypto market has a total market value of $ 244.5 billion and a drop from high of $ 62 billion. Yesterday we saw a decline of 10 billion USD. Bitcoin dropped $ 150 yesterday and bitcoin dominance rose to 64%.
The best growth yesterday was:
Huobi Token (HT) $4,57 USD (9,90%)
HT was followed by:
Loopring (LRC) $0,040478 USD (9,62%)
FTX Token (FTT) $2,53 USD (3,15%)
Multi-collateral DAI (DAI) $1,00 USD (1,17%)
UNUS SED LEO (LEO) $0,959223 USD (1,11%)
The biggest drop was recorded:
Aion (AION) $0,146440 USD (-11,66%)
DxChain Token (DX) $0,001608 USD (-11,78%)
Algorand (ALGO) $0,342284 USD (-11,42%)
All datas are from coinmarketcap.com
[BTC / USD] In 2020 to present value: +22.40%
Bears may continue to exert additional downward pressure to bring the price to the main level of support at USD 8,200-8,000. As we can see from the Bitcoin chart, it stopped for a short $ 8,600 support, but nothing has yet to be decided. We were on top in 2020 at a price of $ 10,500, from which we have already written off on one BTC coin of $ 1,900.
World stock markets continue to fall for the sixth consecutive day. We bleed on almost all fronts except gold. This is due to concerns about the coronavirus pandemic. Markets are currently counting on central banks to try to mitigate the economic consequences of the epidemic by easing monetary policy.
Bitcoin moved to 8,500 yesterday and it looks like they will have to defend themselves below the current value. Bears is enjoying a big slump and want to see Bitcoin and the market continue to bleed. They will aim to support $ 8,200-8,000 for the coming days.
[XMR / USD] In 2020 to present value: +51.77%
High in 2020, we recorded at 95.58 USD. Yesterday we reached $ 66.57 in support, but we still can’t say it’s definitely the end of the slump. It is very worrying that the bulls have not bounced and are not trying to defend previous support. In the chart I have marked all the support that the bulls did not keep. Previous support above $ 66 will be considered resistance at the time of growth. Yesterday we saw a 5.76% loss on Monero.
[LTC / USD] In 2020 to present value: +43.7%
Litecoin yesterday -7.58%. High is worth $ 84 in 2020. Interesting throughout Litecoin is its deep support of up to 54 USD. Bulls will want to fight for this support. Are we headed there? I think Bears don’t have much time before Bitcoin returns over $ 9,000 again. Values at $ 54 may be a candidate for bouncing up. The Bitcoin pattern suggests that this slump could cause patter cup and handle + world markets.
[HT / USD] In 2020 to present value: + 70.55%
Yesterday’s 10% pump inspires the interest of many investors. Unlike many Altcoins that are currently slumping along with Bitcoin, there are some that grow and stay close to high just like HT. We steadily keep 70% appreciation for 2020 and HT is expected much, we are not much disappointed so far. We saw High this year at $ 5.3. We see the closest hard support at $ 4, from which the HT bounced off as from textbook.
Thank you for taking the time to review the market today.