Cardano (ADA) and Ripple (XRP) in the past 24 hours increased by more than 10%. Bitcoin is maintained at a stable level, leading the recovery of the crypto-market.
Earlier in the week, the total capitalization of currencies dropped to $ 190 billion, which worried investors, suggesting a drop to the annual minimum of $ 185 billion. First of all, Ethereum fell, while Bitcoin remained relatively stable around $ 6,300.
On September 16, when the price of the military-technical cooperation was about $ 6,500, the CCN resource reported that a low volume of trading of the leading crypto currency could be regarded as a signal of a short-term weakening of the market. That is, the bitcoin rate is quite capable of dropping.
"In general, after a slight decline in the price, a correction will occur, and top-end crypto-currencies will grow a little. But for traders, the low volume of trades in MTC, which at the moment is $ 3.3, may be a problem. billion. "
On September 17, the bitcoine course actually fell below $ 6,300, and Ethereum returned to the $ 190 zone. After a short correction on September 18, the crypto-market began to show a fairly active growth. The volume of Bitcoin trades has recovered to $ 4 billion.
Quite a powerful increase in the volume of transactions is supported by the crypto-currencies Cardano, Ripple and others. It is expected that these altcoins will become the engine of the short-term rally, which will force the VTS to test the resistance levels at $ 6,500, $ 6,600 and $ 6,800.
Almost 2 months since the beginning of August Bitcoin is trying to break out of the region $ 6,000. Nevertheless, the price remains volatile and moves in the region $ 6,300 – $ 6,600, and not finding a strong enough momentum for a breakthrough.
If the volume of military-technical cooperation is kept at about $ 4 billion for several weeks, then it is possible to move to the $ 7,000 zone. Analysts believe that the continued decline of the rates will lead to the same strong correctional rally. Especially if investors recognize the oversold condition and stop selling at too low prices.
This week, crypto-exchanges Upbit and Binance have expanded their services by entering the Singapore market. This region is known for its favorable crypto and block-climate, although it is not yet a large-scale market hub.
The government of the United Kingdom recognized the need for the development of a local crypto-currency and block-sector sector in order to remain a competitive country. In general, from the point of view of regulation, the market saw more positive developments this month than in a few years.
And what do you think about this? Are you counting on the growth or decline of the market?
