Cryptocurrency Market Weekly Review To Get The Victory
By Rubika Ventures on Altcoin Academy
In short, we can say that last week was more informative than lucrative.
From the last thing, we know that some people will think otherwise. But it is good to remember that our objective here is to inform you what to recommend.
Remember education is worth more than all the money that can be earned within the cryptocurrency market.
Some News That We Can’t Forget
Santiment brings us to start the week the top 100 cryptocurrencies by Sharpe Ratio. (sorry for image quality u.u)
The table shows the exact classification of cryptocurrencies in terms of quality. It is summarized from the most excellent project to the worst of all.
It is worth seeing the ranking. Within it, the project that stands out and the first place is Binance Chain.
In another hand, BitPay now accepts Ethereum. Businesses using BitPay for payment processing can accept Ethereum for purchases without the need for any integration or enhancements.
Additionally, wallet users will be able to store and use Ethereum in a BitPay wallet and BitPay Prepaid Visa Card holders can top up debit cards.
On the side for Bitcoin Futures bloomberg related that the Bitcoin Futures on ICE are growing nearer with custody warehouse start.
The news says literally that Intercontinental Exchange Inc. is closeting to offering Bitcoin futures trading as its Bakkt unit opens its digital-asset custody warehouse today to customers.
In our case, we are still in the expectation of what the market is really going to happen. That is why it is good to accompany this type of news.
In terms of technology development, R3 And MasterCard Are Building A Blockchain-Based Payment System.
R3 and MasterCard are collaborating to build a Decentralized Payment system for Cross Border payment services. The new platform is set to be powered by R3’s Corda Blockchain technology.
This strategic partnership was announced on Wednesday (September 11) marking another milestone in the digitization of the financial industry.
We have other news to highlight. But for now, we want to leave you curious and tell you something quite eloquent.
$ 4.3 M Longs Liquidated on Bitmex
At about 10 am in Brazil the market was still and from nowhere they were liquidatedliquidated in Bitmex more than $ 4.3 Longs. 😂
The truth that we can only say that it was a big surprise the great death of some bulls in a few hours.
Total Market Cap & Community Sentiment
Over the weekend, total market capitalization bounced within a tight range of ~$261.5 billion and ~$268.1 billion and is currently at ~$263 billion, according to http://coinmarketcap.com.
24-hour volume over the weekend averaged ~$50 billion.
As for the feeling of the community, we are knowing that there is no big difference from last week for this week that is starting. The calculated variation ranges from 1% according to alternative.me.
With Santiment, we can show that the social activity of the community has dropped considerably.
We recognize that this is due to the latest news that has happened in the market and the expectation of waiting for the dates that could generate, in theory, a better expectation in terms of position.
Bitcoin & Dominance
Bitcoin is currently trading around ~$10,140 after of massive crash in some hours, pretty much where it left off on Friday. Its dominance is 71%.
On the weekly chart, Bitcoin is still trading above its 21, 50, 100, and 200-EMA lines, with RSI at ~59 indicative of moderate bullish momentum.
However, the MACD has crossed to the downside of the signal line some time ago, and so we could see BTC testing the above support lines in the coming weeks.
Could it be that we will now test the famous EMMA 21-Weekly that we have been talking about so much last week?
On the other hand, in the daily chart, we are testing important support within the symmetrical triangle.
The price behaves below the EMA 21-Daily which indicates a risk zone.
The MACD in this graphic time can mark in the next few days a small price correction.
If the bearish feeling continues we can be testing in the next days the support near to $9.8k.
With the RSI showing 46 points, that can get the attention of some investors who expect a good price to buy.
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