CV Market Watch ™: Overview of Weekly Trading (3-10 August)


Bitcoin (BTC) broke its uptrend, rapidly falling below the $ 7,000 level to stop at around $ 6,300. The main reason was the delayed decision of the ETF proposed by the CBOE market operator, but the general pessimism also weighs on the markets, sending digital assets to similar levels in August 2017.

Bitcoin (BTC) started the week with a price that exceeds $ 7,500, but the increase has been wiped out in a series of flash crashes. Before the weekend, BTC traded at $ 6,615.12, with a low week around $ 6,260.

Tether's share (USDT) once again indicated the sale of a safer asset and expanded to over 54.67%. The Japanese Yen trades fell to 10.52% and US dollar volumes remained robust at 22.2%.

BTC trading volumes rose from $ 4 to $ 5 billion and the weight of USDT trading increased across the board. Last week, Bitcoin mining decelerated from a recent peak of more than 50 million TH / s, up to 40 million TH / s, before rising to 45 million TH / s.

Ethereum (ETH) is almost back in August 2017, erasing almost all gains. ETH dropped to $ 363.51, down 11% this week, despite active trading. The currency remains one of the most used, but the price enthusiasm has shrunk.

XRP (XRP) is also gradually declining this week, falling to $ 0.33, down more than 22% for the entire period.

Bitcoin Cash (BCH, BCC) has returned to its stagnation, trading at $ 604.57, down more than 15% this week, on volumes that have shrunk to an equivalent of $ 304 million, with a large USDT trading quota.

EOS (EOS) crashed along with the rest of the market, as pessimism remained the main mood. EOS fell 20% in recent days, to $ 5.65, as each shakedown caused a lost support and a further decline in the value of the currency.

Stellar (XLM) showed surprising resilience, as its price rebounded from recent lows to other assets. XLM has added 8% to its price in the last 24 hours, although it has decreased by 12% on the week.

Litecoin (LTC) slipped along with BTC prices, stopping at $ 65.53, down 16% this week. Therefore, the net growth of LTC from Augusts 2017 is less than $ 20, as the currency has not repeated its maximum performance since December 19, 2017, when the LTC reached $ 375.29.

Cardano (ADA) remained relatively stable, landing at $ 0.12, only 7% less than last week.

IOTA (MIOTA) crashed to a new lower level, failing to return to the $ 1 position. The MIOTA slipped to $ 0.60 for news of a conflict within the IOTA Foundation.

TRON (TRX) was once again among the top 10 coins, struggling in a new price range of around $ 0.025, down 17% this week. The project continues to develop, even if its market price for now does not show opportunities for a new enthusiasm.

Monero (XMR) is back at double-digit prices, at $ 98.98, slipping by 17% this week. The anonymous currency has drifted in the past weeks, since it has not seen a renewal of enthusiasm outside its community.

Ethereum Classic (ETC) has briefly entered the top 10 of the coins, as an announcement on Coinbase is expected from moment to moment at the moment. ETC stood at $ 15.00, up 2% this week, but one of the few growing assets

DASH (DASH) further adjusted to $ 185.87, down 10% in the last week, as the currency follows the general trend of the bear market.

NEO (NEO) fell to $ 21.62, slipping by another 21% over the last seven days. The NEO returned to a much lower range, and actually went lower than last August. The NEO has had boom and bankruptcy periods, and in the months of 2018 it has been replaced by emerging platform projects.

The NEM (XEM) fell further to $ 0.12, showing that even the hot assets had a long way to go until the bear market ended.

For the second consecutive week, assets are correcting following a small but encouraging upward trend. The cryptic community noted that it may take some time for markets and the community to adapt after the extraordinary ascent of December 2017, considered disproportionate and even detrimental to blockchain projects.

The decision on the ETF CBOE was given a longer deadline, until September 30th. However, some believe that the current low volumes would only allow short-term speculation and, without renewed mass enthusiasm, cryptocurrency prices may not see a more stable recovery.

Neither the author nor the publisher assume any responsibility for any investments, profits or losses resulting from such information. Trading and investments in cryptocurrency are risky propositions and market participants are advised to always conduct in-depth research.

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