Altcoin See Red, while Bitcoin shows Tender Resistance


The cryptographic markets are today quite bearish, on 21st August, with almost all the first twenty coins for market capitalization which see average losses of 3-6%, as shown in the Coin360 data.

Bitcoin (BTC) continues to show relative resilience – the highest currency still continues to trade below the price of $ 6,500. Despite a short-term market recovery on 17 August, most of this week saw decidedly poor performance across the board. The hangover from the mid-August market crash continues.

  Market Display by Coin360

Market Display by Coin360

Bitcoin (BTC) sees virtually no change in the last 24 hours at the time of printing, trading around $ 6,400, according to the index of Cointelegraph's Bitcoin prices, despite a brief collapse of up to $ 6,260 yesterday at midnight, the currency has returned to trade within the $ 6,400-5,000 range for much of today.

 Bitcoin 7-day price chart "src =" view / c9cf01190174703cb757139a4445d75b.png "title =" Bitcoin 7-day price chart " /> </p>
<p dir= Bitcoin 7-day price chart Source: Cointelegraph Price Index

On its weekly chart, Bitcoin has achieved a gain of 6.3% – the monthly losses of the asset remain net of the 13.4% Nevertheless, as eToro analyst Mati Greenspan suggested in a Tweet this week:

"Bitcoin has remained stable over the last 6 months. In this chart, we can see buyers go up over $ 5000 per coin. The 200-day moving average (blue) provides resistance at the top. A stable price is necessary to maintain a reserve of value and we are on the right track. "

  Mati Greenspan's technical analysis of the Bitcoin 6-month price chart

Mati Greenspan's technical analysis of the Bitcoin semi-annual price chart Source: eToro

Ethereum (ETH) it traded around $ 277.5 at the time of printing, down about 4% on the day. This is the second day in a row that altcoin has traded well below the $ 300.

  Chart of the 7-day Ethereum prices

The Ethereum 7-day price table Source: Cointelegraph Ethereum Price Index

Ethereum sees an 8% gain on its weekly chart – this it is relative to the price of the high point under $ 260 August 14. In the month, however, Ethereum is falling by an incredible 40 percent. [19659002] From the $ 300 crash on August 13th, Ethereum continues to trade at levels not seen by # Beginning of November 2017.

Almost all the other first twenty coins sugl the CoinMarketCap lists are in red, with the exception of VeChain (VET), ranked 19th, which increased by 4% on the day.

EOS and IOTA (MIOTA), are down 5.5% and 4.3% to trade at $ 4.80 and $ 0.51 respectively at the time of printing. Cardano (ADA) saw a similar decline, down 5.2 percent to $ 0.09.

Bitcoin Cash (BCH), also very red, is down 3.4 percent and trades around $ 528 at the time of printing. New analysis by the blockchain intelligence company Chainanalysis has indicated that the use of BCH in trade is on the decline, from $ 10.5 million in March to $ 3.7 million in May, which Chainalysis attributed to "concentration of ownership" of a wider adoption of the asset.

Stellar (XLM), currently trading at $ 0.22, is improving considerably better than other scrambled ones, falling slightly 0.2% and trading sideways most of the week:

  7-day price chart of Stellar

Stellar 7-day price chart Source: CoinMarketCap

The total market capitalization of all cryptocurrencies is around $ 209.8 billion at the time of printing, slightly higher from an intraday low of $ 205 , 7 billion and comfortably above its close to $ 191 billion a week ago:

  7-day chart of total market capitalization of all cryptocurrencies

7-day chart of total market capitalization of all cryptocurrencies of CoinMarketCap

As the market continues to show tension, discussions are being held this week in South Korea to potentially reverse the country's ban on bids of initial tokens (ICO). The parties involved are even willing to continue the creation of their own "Blockchain Island" of South Korea that would be in competition with the trajectory favorable to the blockchain adopted by Malta.

Meanwhile, new research has suggested that the volume of the global auto industry the blockchain market will reach $ 1.6 billion by 2026, based on a financial analysis of key market players including Ethereum ( ETH), Ripple Labs Inc., IBM Corporation and R3.

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