Daily Cryptocurrency Market Review To Have A Quiet Day

By Rubika Ventures on Altcoin Academy

Published in

The Dark Side

5 min readSep 18, 2019

In order not to grasp things, the only negative news that was received in the last hours was the surprise of canceling the revision of the ETFs for VanEck and SolidX. For this time, or let’s say, for the first time, the market didn’t generate panic after the news came out.

What is clear to us is that several alternative currencies to Bitcoin came out of their graves and made the community earn a lot of money. Which is positive from our personal point of view because most traders were bored.

Binance.US Is Now Available

And well until finally binance.us was officially launched.

And luckily, we made a good profit with the Binance Chain recommendation made days ago.

Deloitte Will Adopt Bitcoin

One of the things that most surprised many is the entry of the Deloitte business group. They are going to adopt Bitcoin payments to its staff as a test for adoption as reported in the Luxembourg Times.

Bitcoin payments may be returning as BTC now carries more transactions for lowered fees.

Two Things That Nobody Paid Attention

On the other hand, two news or reports were recorded that nobody paid much attention and that for obvious reasons should be named.

They say the cryptocurrency market is a fury. But what can we think when governments print more money than they should. The image below says it all.

With this where do we want to go? Easily identify the term inflation in the traditional market. A first thing to which we really must pay attention.

And is that ccn was cleared when reported that The Federal Reserve Bank of New York very quietly handed out $75 billion in cash to the banks on Wednesday in a process known as a ‘repurchase operation.

On our side, this represents a negative opinion towards the economy and the deterioration of traditional markets.

Blockchain in the Economic Crisis is the Solution

The good thing is that an investigation by the banking group ING. says that people with less knowledge about cryptocurrency are the most likely to be positive in its future, and as related coindesk.

In summary, the report shows us that while 74 percent answered correctly that cryptocurrencies are a form of digital money, roughly the same amount (73 percent) said cryptos are run by a centralized body, or didn’t know.

A small majority were, however, correct when answering questions on volatility and in-store acceptance.

Also emphasizes that 13% in Europe of people who could correctly identify one of the five statements as either true or false and therefore were labeled as having low knowledge, most either had a high (43%) or medium (37%) attitude towards the future of cryptocurrencies.

With this, the issue of inflation can be left to the people who still believe that paper money is the right means of exchange. Let’s say that this year the adoption of the cryptocurrency market grew more.

And it is clear that while there are investigations like the previous one, that will bring more attention to the people who still have doubts about the market. Remember the data speak for themselves and that is why this is the second thing that has been neglected over the last few hours.

Now let’s see what happened to the market!

Total Market Capitalization

Over the last 24 hours, total market capitalization rose from ~$266 billion to ~$271 billion, with most coins seeing gains in the ~3–8%, according to coinmarketcap.com.

24-hour volume registered ~$65 billion, a ~30% uptick over the past few days.

Bitcoin Dominance & Daily Tracking

Bitcoin dominance dropped from ~69.3% to ~67.6%! — the biggest single-day drop in months, indicative of a flow of capital investments into the alts.

Just to refresh everyone’s memories, prior to the start of the previous altcoin run in 2017, there was a Bitcoin run, followed by a shift in capital from Bitcoin to the alts (sudden drop in Bitcoin dominance).

Bitcoin is currently trading around ~$10,120, pretty much where it was yesterday.

Bitcoin is still trading below its 50-EMA line, with RSI at ~46. Also, we see the breaking of one of the baselines of the symmetrical triangle where Bitcoin was supporting itself.

Next support will be $9.8k. The good thing about that crash down was that we made good profits in Bitmex :D.

See you in the next story. With Love 💛, Rubikators Team.

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