Wednesday, 18 July 2018

Crypto market capitalization approached $ 300 billion

Posted by Anonymous at 17:55 Labels:

The volume of the bitcoins, the main crypt-currency in the world market, grew by $ 18 billion over the past week, which supports the current rally that was initiated yesterday. On Tuesday trading session, the first crypto currency broke through the resistance zone $ 6,700 and in potent momentum reached $ 7,400 level. Today, the market growth continued, and the daily high was indicated in the $ 7,552 zone. Meanwhile, the growth of the digital market capitalization is also continuing. On Wednesday, shortly before the start of the American trading session, bitcoin capitalization rose to a mark of 127 billion, an increase of 10 percent over the past 24 hours. The total capitalization of the entire crypto currency market reached the level of $ 296 billion.
Positive market dynamics in the bitcoins market provoked a kind of mini -rally in such large markets as ether, ripple, and bitcoin cash. As a rule, the price growth of bitcoin and ether leads to a greater rally in the crypto currencies with lesser capitalization. However, this time the situation develops in a different scenario. The growth of the main digital markets did not lead to a rally of smaller assets.
It is possible that investors are reluctant to take on additional risk in investing their funds in small crypto currencies in the initial period of market recovery. Especially since this growth began only 24 hours ago. It is possible that investors are taking a wait-and-see attitude, we, however, believe that in the current market and fundamental conditions to invest in bitcoin and ether  is the most interesting and safe thing.
If bitcoin and the rest of the major crypto currencies manage to maintain high volumes by the end of the week, this will be a positive signal - the market needs to gain a foothold above the $ 300 billion of capitalization to attract even more funds. And if the main support levels ($ 6,700 and $ 480) for two cryptos keep the markets above in the event of profit taking pullbacks, it is likely that the markets will soon take the next step, the storm of psychological marks in the $ 8000 and $ 600 dollars, respectively.


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2 comments :

  1. Dilliprasad14 September 2018 at 08:10

    Thank you for sharing this information.
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