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The Top Coins are Turning to Growth

Thu, 11/22/2018 - 08:53
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Antony Koroid
By Wednesday, the crypto market drop that began at the end of last week significantly slowed. Almost all of the top 20 crypto demonstrate positive dynamics at the moment
The Top Coins are Turning to Growth
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On its weekly chart, Bitcoin (BTC) lost more than 21%. On Tuesday, the losses were more than 15%, but in the same evening the coin won back 3.12%, trading at $4,552 at the time of writing.

The second cryptocurrency by market capitalization volume, Ripple (XRP), increased by 0.8% per day and is trading at $0.4436. Ethereum (ETH) has reached its bottom at $126.30 but has grown by 2.19% in the last day and is trading at $135.05 now.

Bitcoin Cash (BCH) showed the highest loss of value: in one week, it fell by more than 40%. During Tuesday, the coin showed a modest growth of 2.67%, trading at $232.29.

Spencer Bogart of Blockchain Capital Still Believes in BTC

Among the top 20 cryptocurrencies, only Zcash (XEC) and Tezos (XTZ) demonstrate negative dynamics, which may indicate the changing of the market situation.

Analysts give cautious forecasts — if Bitcoin gets over an important psychological mark of $5000, the market recovery will continue.

At the same time, according to Chainalysis experts, along with a decrease in volume of BTC commercial use, the main coin's volatility indicator is still at the minimum.

The total market capitalization of all cryptocurrencies is about $148.5 bln, while its weekly maximum was about $189 bln on November, 15. The number of cryptocurrencies listed on CoinMarketCap has decreased to 2,071, while the crypto market daily trading volume is nearly $18 bln.

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About the author

The journalist with 10 years of experience in print and digital media. Last 2 years deeply immersed into the cryptocurrency & blockchain technology area.