Market Capitalization Comes Back Up To $210 Billion, Altcoins Grind Up As BTC Dominance Begins Descent
Crypto Market Recap: 24, October 2018
Midweek brings more uncertainty to the market as the market remains flat. While it is generally stable at the moment, a tight range like this could bring a movement either way. Analysts are either on the Bitcoin slowly to the moon or its gonna flash drop below $5800 camp but there’s nothing really new since the market has been on the same trend since August.
The market capitalization is as it is for the past week, at the $210 Billion range. Yesterday, it made a small pullback but has grown back $2 Billion on the day. The trade volume has dipped below $10 Billion again and is now at $9.6 Billion while the Bitcoin dominance has dipped back to 53.6% indication a green altcoin market at the moment. If its an indication, it could be a good signal if the altcoins take the wheel this time and bring the market back to some semblance of a movement.
The Bitcoin price has not had any flash crash yet and is continually trudging along. Today has added a 0.73% growth on the day and trading at $6605, $50 above yesterday at this same time. Yesterday, there was downside movement touching $6526 but the price bounced back making a recovery which is supported by a small surge in trading volume. The 4-hour chart still shows the MACD as flat but the greens have already crossed over to the bullish side. RSI is still pointing down, hovering just below the overbought. The path of least resistance is up on the short term which coincides with a slew of positive news from the big crypto players.
Ethereum has been laying low and has been quietly following Big Brother Bitcoins movement as usual. It has grown 1.15% on the day which is a bit of a good news as it breaks out of the $203–204 range and climbs up giving signals of a possible recovery in the short term. On the 4-hour chart, we have the MACD struggling to climb out of the bearish zone but still flat.
Everything in the Top 10 altcoins is back up to green after dipping yesterday but at very low levels. The majority is up by 1–2% except Stellar at -0.38%. XRP broke out of the pack and has been leading the Top 10 crypto by 4.59%.
For our Top 25 Crypto report, it’s almost the same as the Top 10 with majority performing at 1–2%. The losses are on the same numbers as well with not a very huge drop except for Dogecoin, who was performing fine earlier in the week but made a pullback since yesterday. It has lost another -6.32% on the day and now trading at $0.0039. Bitcoin Gold is the leading coin today with 6.76% gain. It is currently trading at $27.63. Vechain follows with a 5.67%, with Dash and Tron further down at 2.98% and 2.45% respectively.
There are no big pumps on the Top 100 crypto today, but we do have a new addition to our list of obscure coins joining the big gainers. MobileGo has been surging today at 17.29% and has officially joined the Top 100. Further below, we have Genesis Vision, Siacoin, and Augur at 8–9% gain on the day. Earlier in the day, Bitcoin Diamond surged up at 15% after an announcement of listing at South Korea’s Bithumb exchange but has now pulled back at 3.81%. On the other side, Ravencoin is still not done with its dump and has lost another -9.68% on the day.
Anyhow, this is today’s market recap to give you a glimpse of what happened on the crypto markets while you were sleeping. Trade safe, and have a great Wednesday!
Originally published at dna.coinve.st on October 24, 2018.
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