Another week has passed, and this one brought less hopeful visions for the near future, as bearish trends are gaining more and more strength over bullish ones, bringing big drops for the market as a whole. Let{s take a look:
Top 10 Cryptocurrencies - Market Value
1 - BTC: $9583.68, with a change of 0.96% since yesterday and -7.94% since last week.
2 - ETH: $169.6, with a change of 0.38% since yesterday and -12.86% since last week.
3 - XRP: $0.2564, with a change of -0.27% since yesterday and -7.60% since last week.
4 - BCH: $281.26, with a change of 0.50% since yesterday and -10.95% since last week.
5 - LTC: $64.15, with a change of 1.02% since yesterday and -14.99% since last week.
6 - BNB: $22.4, with a change of 2.85% since yesterday and -17.10% since last week.
7 - EOS: $3.256, with a change of 1.65% since yesterday and -11.59% since last week.
8 - BSV: $130.2, with a change of 1.33% since yesterday and -4.24% since last week.
9 - XLM: $0.06321, with a change of 2.27% since yesterday and -8.95% since last week.
10 - ADA: $0.04595, with a change of 2.66% since yesterday and -8.12% since last week.
With BTC reaching levels below the $9,500 mark yesterday, many analysts saw their predictions about the coming of a more bearish period becoming true. Many are saying that BTC is not only in a downwards triangle, but also closely following the lower edge of it, while others are more worried about it falling below the 100-day moving average, which is a sign of a long term bearish trend coming ahead.
As you can see in the plots, this bearish trend includes the whole market, not BTC exclusively, with ETH, BNB and LTC showing greater drops than the market leader. What’s more difficult to predict is how long will this trend continue, how low can BTC drop (as many sites are expecting it to drop below the $9,000 mark in the coming weeks) and how long will it take for the market to recover after the bearish trend.
Top 10 Cryptocurrencies - Performance
1 - NOAH: $0.0003836, with a change of 268.49% since last week.
2 - MDT: $0.011017, with a change of 95.95% since last week.
3 - MTH: $0.02062, with a change of 61.09% since last week.
4 - DAG: $0.006239, with a change of 46.50% since last week.
5 - TIME: $2.261, with a change of 44.84% since last week.
6 - VEO: $86.02, with a change of 37.21% since last week.
7 - SNX: $0.3573, with a change of 35.10% since last week.
8 - HXRO: $0.03788, with a change of 27.73% since last week.
9 - SIX: $86.02, with a change of 26.51% since last week.
10 - CLN: $0.3573, with a change of 24.02% since last week.
This week’s top performing token was NOAH, the utility token for the Noah Project, an initiative for massive implementation of blockchain-based payment methods, initially proposing ways for Filipino workers employed in Japan to send money to their families living back in the Philippines. We will cover it in detail next week.