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10:07 08.07.2019
2019-07-08
Neironix
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Last Weekly Results: Bitcoin High Volatility And Altcoin Loss

We analyzed cryptocurrency market and summed up the results of the previous week together with the Cindicator fintech company.

How The Week Was For Bitcoin

Last week (the report of the analyzed seven-day period: the 26th of June - the 2nd of July) became one of the extremely volatile for Bitcoin and crypto market in general. The BTC highest price was last Wednesday, on the 26th of June, when the biggest daily ascend reached $13,796, which led to a new annual maximum.

A big correction began after reaching the peak: the BTC price was completed at $10,801 (-8.36%) with a market capitalization of $192 billion. Bitcoin reached $12,000, then $13,000 and approached $14,000 on the first day of July. This movement was too massive and sudden for long-term development, that is why the BTC price experienced a correction.

Thursday (June, 27) became the worst day for the first cryptocurrency. Then the BTC price of the BTS decreased by 16%. However, a very important psychological level of $10,000 was established at the end of the week.

The next sign level stopped at $11,000 – 11,650 from a technical point of view.

Bitcoin is still the most effective coin of all cryptocurrencies. This week Bitcoin dominance reached 63.37% (now it is 62%). It's been the highest number since the beginning of December, 2017.

Total market capitalization ended the week at $315 billion. The BTC daily volume reached $40 billion on the 26th and 27th of June. This indicator was at $30 billion on other days.

The mood of crypto investors became more pessimistic, judging by the weekly survey of the Cindicator company. Last week, there were more people with positive attitude towards Bitcoin price increase (83%), in comparison with this week - only 52% of respondents believed that the Bitcoin rate would go up.

Probably, this factor is based on sudden asset volatility and market uncertainty. Survey participants noted that they didn't see a clear tendency towards the next week.

How The Week Was For Coins From The Top 10

All ten best projects (except for Tether) have declined during the last week. Six coins faced double-digit losses. EOS and Bitcoin SV decreased the most (-17%). Most assets are currently trading less, than two weeks ago. However, BTC and ETH are still showing positive results during a two-week period.

How The Week Was For The Rest Of The Coins

Top Coins

Despite of the strong depreciation of the leading cryptocurrency projects, some coins from the Top 100 were able to show good results with a profit of more than 50%.

The best results were demonstrated by Ren (REN) — + 85.99% and 89th place, Chainlink (LINK) — + 68.2% and the 16th place this week. The remaining projects achieved an increase of less than 50%. These are Revain (R) — + 39.6% and the 99th place, Egretia (EGT) — + 22.89% and the 46th place, V Systems (VSYS) — + 17.55% and the 34th place.

The leader of the week, Ren, is a private and decentralized crypto exchanger that has been operating since 2017 and is based in Singapore.

Worst Coins

This week the list of the worst coins (loss ratio) from the Top 100 includes Dent (DENT): -37.5% and the 75th place, Crypto.com Chain (CRO): -25,21% and the 29th place, HyperCash (HC): -24.26% and the 45th place, Monero (XMR): -22.57% and the 14th place, Waves (WAVES): -20.84% ​​and the 48th place.

The most unprofitable project of this week is Dent, which operates mobile communications. The project had increased by 200% from the middle of May to the current fall, but recently the network updated the roadmap, that worsened the mood among investors.

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