Bitcoin Correcting, Crypto Market Washes Off Gains For The Past Two Days

Crypto Market Recap: 30, November 2018

After two days of good performance, the crypto market is diving again. The board is turning red and the gains earned from the past days are beginning to narrow. The momentum has faded during the last candles and it is clear that we’re in for another bumpy ride soon.

The total market capitalization is dropping fast and has lost $8 Billion in the last few hours making it to $132 Billion from yesterdays $140 Billion. The trading volume is at $16.5 Billion and BTC dominance is at 53.9%.

Bitcoin is beginning to drop and is currently at $4101, losing 8.12% at the time of this writing. For a while, despite low trading activity, it has stabilized at $4300 after rejecting $4400. On the 4-hour chart, the MACD is diving back to the bear side, and the other technicals are going to the oversold too. The next support level is at $4100 and at this stage, it will soon cross down to $4000.

Ethereum is falling back again and has now reached $113, losing 7.46% at the time of this writing. It’s quickly dropping back to its yearly low.

The rest of the Top 10 has quickly followed with Cardano having the biggest loss at the time of this writing. It has lost -12.26% bringing the price to $0.038. EOS follows with a -10.93% loss on the day. This, after also performing poorly yesterday, brings its price down to $2.83. The rest are at 8–10% loss. This is quickly turning into another bloodbath as we go through the Top 100. The only one not quickly catching on to losses are Tether at -0.25% loss (expectedly), and Bitcoin SV at -0.35%.

The Top 25 has the same story, quickly capitulating to Bitcoins movement’s as suddenly almost half have jumped to double-digit losses. Tron has lost -15.19% with the price dropping at $0.0136. VeChain has lost -15.03% and trading at $0.0046. Tezos is now at -14.79% and Ontology at -12.54% loss. NEO and NEM are both losing 10% on the day. The rest are also bleeding somewhere between 3–9%.

Down the Top 100, the reaction is fatal with most of the board quickly turning into double-digit losses. Majority are already in the red with huge losses. The biggest loser is Sirin Labs, which was pumping yesterday. It has lost -32.68% of its gains from the past 2 days. Verge is also dripping with blood at -25.85%. The rest are heavily losing for the past hours and except for stable coins, losses are varied from 4–20%. On the other hand, we still have some pumping coins at the moment. Theta Token has managed 46.07% gain and Gold Bits Coin is back to our pump list at 26.99%.

Overall, this drop is not looking like a simple correction and may still be connected to Bitcoin trying to find its bottom. Altcoins are, as usual being the worst hit with any Bitcoin movement.

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 Friday!


Originally published at dna.coinve.st on November 30, 2018.

CoinDNA is an educational website that aids users in research, the first step of their investment journey, providing insights to help navigate investment decisions, including market data for individual tokens, a daily market report, and custom frequently-asked analytics.

Crypto Market Recap: 29, November 2018

Today is the second day of green for the market and people are so unused to it that everybody is second guessing if it will last or not. The rise was consistent enough yesterday but the question in everyone’s mind is whether this will continue. The entire board is mostly green with a sprinkle of reds here and there but on minimal percentages.

The market capitalization is continuing its way back up and now has reached $140 Billion. Trading volume is good at $20 Billion and the BTC Dominance is still rising at 53.7%.

The Bitcoin price is enjoying the surge and is now at $4382 and still climbing at the time of this writing. Yesterday we mentioned that it needs to pass $4200 safely before we can categorize it as a recovery and not just another ‘dead cat bounce’. Now, it needs to go over $4400 to continue enjoying its hard-won fight. The volume is continuing to balloon as it jumped another $5 Billion to $75.4 Billion. We are being taunted with a possible bullish reversal as we watch another biggest single-day gain since April.

Ethereum took the day in stride, though not as quick to move as its big brother. The Asian trading session took it to $122 with a 6% growth on the day. The technical chart is still in the dark for the short term as it struggles to bring its market cap back up. Ethereum has been performing poorly and is, in fact, one of the worst performing coins in the past weeks as it touched below $100 twice in November.

The rest of the Top 10 are still in good condition today and everything is green. Cardano (which was kicked out of the TOp 10 yesterday) is the biggest gainer at 13.83% and Stellar won 10.97% gain on the day. The rest are at 3–10% with EOS and Bitcoin SV falling behind at 1+%.

Tron has been enjoying quite a surge on the Top 25 after an update today. It has pushed Monero out of the 11th place and is now inching up against Cardano on the 10th position. 0x has gained 18.31% on the day, taking the price to $0.454. VeChain has recovered another 13.42% taking the price back to almost the same level before the Bitcoin drop on Thanksgiving. NEO rounds up the double-digit gainers in the Top 25 at 10.83% growth on the day.

Verge overtook the entire Top 100 with a 46.27% pump after a listing in Bithumb. Factom is surging again at 39.78%. Bitcoin Private is still at it after yesterdays pump and has harvested another 37.45%. Sirin Labs, as well is back to the pump list at 35.88%. Other coins regaining their losses are Centrality, Waltonchain, PIVX, Populous, and Komodo at 18% to 22%. The rest are all in recovery mode and in healthy green.

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 Thursday!


Originally published at dna.coinve.st on November 29, 2018.

CoinDNA is an educational website that aids users in research, the first step of their investment journey, providing insights to help navigate investment decisions, including market data for individual tokens, a daily market report, and custom frequently-asked analytics.