LATEST TRENDS OF BITCOIN AND ALTCOINS

Updated: 11/26/2018 15:51
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bitcoin altcoin trends
Massive decline of Bitcoin and most popular altcoins continues along with the price meltdown, latest cryptocurrency news, worldwide expectations
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Massive decline of Bitcoin and most popular altcoins continues along with the price meltdown, latest cryptocurrency news, worldwide expectations

Expectations of another decline were not unreasonable, and against the background of the next wave of sales, the market updated its lows again. Capitalization fell by 6.5% to $128 billion. The fall affected almost all liquid instruments, with the exception, perhaps, of stablecoins. The amplitudes of the coins rebounds do not prompt any quick bounce-back - somewhere better, somewhere worse. But, in general, there is not much positive thinking in the ranks of the interested parties. Opinions of experts regarding the future trend of digital assets are so different that it is completely wrong from the practical point of view to tell who is right and who is wrong. After all, as the classic of trade says - "to make a profit on a market, there's no need to predict it.", it's just enough to wait for the right moment to make your bet in the direction of the most likely movement.

Bitcoin

On the next wave of sales on Saturday, BTC rates fell to $ 3,700, thus losing about 16% of Friday's values. Now the situation is leveling off, there is a rebound and by the current moment we can say the panic is getting decreased. In the current situation, when the market regularly updates annual minimums, an attempt to determine the bottom is associated with a high degree of inaccuracy, and this will relate more to the field of predictions than trading and price forecasting. At the moment, we can say the position to be “out of the market” allows wise investors to save capital. While it is best to adhere to this particular strategy. The rebound after the last wave of decline, as we see, turns out to be quite good, however, there is no reason to talk about a reversal of the current dynamics. We recommend keeping a waiting position.

Ripple

The coin also went through sales, and the price of the pair broke through more serious support at $0.38. The overall dynamics of the market is not on the side of buyers. However, it can be seen that this coin has good growth potential, when the overall situation improves. Now the price is again above $0.38 and in the event that in the near future quotes can break through and gain a foothold above the trend line, it will be possible to determine the new entry point.

Ethereum

From the technical point of view, the dynamics of ETH is now more understandable. The price moves in a descending channel and on the last wave of sales, we once again saw testing the lower limit. Now quotes have returned to the upper boundary of the channel. It is clear that now there is no need to talk about changing trends. Until the price surely consolidates above the upper boundary of the channel, the probability of further decline remains above average. In the case of another wave of decline, we will carefully look at how the price will behave at the point of Saturday's lows. There has been a slight increase in volumes, but we believe that there has not yet been a "cleansing" panic characteristic of the end of long-term declining trends. And therefore, this risk also remains.

Stellar

XLM also could not resist the onslaught of sellers. The price broke through the support, however, it is impossible to say unequivocally where this support is going, since both now and in the past, the market showed high volatility at this point. In order to be able to think about opening a position, the price needs to be back above $0.18. In the medium term, the situation does not change, but it will be possible to determine the entry point only after the bottom has been formed. We are now watching the behavior of the pair relative to other cryptocurrencies. This may be the key to determining the entry point correctly. In the event that the instrument has a good foundation, market participants will not be able to ignore this fact indefinitely.

EOS

EOS is in the downlink, and there are still no signs of a reversal. We will talk about a possible change in the trend after the price leaves the channel. You should also carefully look at how the coin will behave when it approaches the previous lows in the case of new sales in the entire market. In this case, it is a comparative analysis of the dynamics of tools that can work well.

Expectations worldwide

• According to media reports, the developers of Ethereum plan to release a previously unknown update, designed to significantly increase the capabilities of the existing technology.
• Bitfinex exchange changed the fee for the withdrawal of fiat currency. It increased to $60. The conditions for those users who withdraw fiat funds more than twice a month or in the amount of more than $1 million have also been changed. For such users, the commission is 3% of the withdrawal amount. Speaking about changes in the tariff policy - the stock exchange informed the community last week about the issue.
• The US Justice Department has initiated an investigation into a case of probable manipulation of the BTC rate. As part of the investigation, it is planned to find out about the existence of interconnections between Tether, Bitfinex cryptotograms and BTC growth at the end of last year.
• Cryptocurrency exchange Huobi Global has launched a platform with the ability to trade Stellar cryptocurrency derivatives.
• In the framework of studying the impact of financial technologies on the economy and in order to combat money laundering the Spanish tax service will begin to monitor the operations of citizens of the country with cryptocurrencies.


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