It;s time for another weekly recap, and we have some ground to cover due to what happened to BTC in the last few days and how the rest of the market reacted to said movements and, as always, we will also talk about the best performers this week. Let’s take a look:
Top 10 Cryptocurrencies - Market Value
1 - BTC: $8809.92, with a change of 0.43% since yesterday and -5.39% since last week.
2 - ETH: $183.38, with a change of -0.26% since yesterday and -0.04% since last week.
3 - XRP: $0.2783, with a change of 1.05% since yesterday and -5.72% since last week.
4 - BCH: $280.45, with a change of 1.32% since yesterday and -3.23% since last week.
5 - USDT: $1.001, with a change of 0.00% since yesterday and -0.20% since last week.
6 - LTC: $60.69, with a change of 0.48% since yesterday and 3.87% since last week.
7 - EOS: $3.462, with a change of 1.50% since yesterday and 3.87% since last week.
8 - BNB: $19.78, with a change of 0.71% since yesterday and -2.22% since last week.
9 - BSV: $129.36, with a change of 3.93% since yesterday and -1.58% since last week.
10 - XLM: $0.07281, with a change of 2.45% since yesterday and 1.90% since last week.
The unwanted has come to pass. BTC dropped below its resistance of $8,800 and now trades around it, which leads experts to foresee a short-term bearish trend that may close the year in a bitter tone. On the long term, the sentiment is divided, as some say this movement may be a sign for a rise later on, while others believe BTC will trade around this values for a long time as bearish traders gain more influence.
The rest of the market moved in a similar way, with other big names like ETH and XRP bouncing down from their climbs last week, and other popular altcoins also losing momentum. Known bear-trader Peter Schiff, CEO of Euro Pacific Capital, has already voiced his excitement via Twitter, which predictably generated reactions from both sides of the spectrum: bearish traders are defending this position, while the more bullish ones are reminding Peter that more traditional assets like gold also dropped in value this week.
Whether this trend ends in a powerful bang that boosts crypto back to the top or becomes the new ground level will only be determined by time, and we will return to this topic in our next recap.
Top 10 Cryptocurrencies - Performance
1 - MNX: $0.06796, with a change of 203.10% since last week.
2 - UTNP: $0.003, with a change of 105.90% since last week.
3 - AMP: $0.002555, with a change of 69.18% since last week.
4 - PBT: $1496.3, with a change of 64.86% since last week.
5 - BDG: $0.0009421, with a change of 63.85% since last week.
6 - ILC: $0.106, with a change of 46.62% since last week.
7 - DRG: $0.08262, with a change of 44.27% since last week.
8 - COV: $0.07909, with a change of 39.55% since last week.
9 - XTZ: $1.177, with a change of 34.70% since last week.
10 - SHIP: $0.007682, with a change of 33.78% since last week.
This means that our special feature for next week will cover Minexcoin, a project aiming to build a solid payments network on top of a stable, low-volatility token that allows for asset trading between different blockchains without contacting third parties.