We Are Back Increasing — A Market Analysis

in #cryptocurrency6 years ago

 
 
 

After yesterdays small decrease we see basically the opposite today: a small increase.

 
 
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Total Market Capitalization:

After starting in the day with a small fast increase the market slowed down and started to slowly decrease in the last couple of hours. Adding this up we do see an increase of nearly $3 billion USD, from more than $276 billion USD total market capitalization 24 hours ago to more than $279 billion USD total market capitalization at time of writing:

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Source

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Dominance (Percentage of Total Market Capitalization):

 
Following this dominance charts for the past several months it seems like Bitcoins dominance grows quite substantially in times the market isn’t doing great. On an increasing market like we see lately Bitcoins dominance seems to decrease while those of altcoins seem to rise.

CryptocurrencyDominance
Bitcoin [BTC]39,97%
Ethereum [ETH]17,96%
Ripple [XRP]7,43%
Bitcoin Cash [BCH]5,25%
Litecoin [LTC]1,97%
IOTA [MIOTA]1,18%
NEO [NEO]0,89%
Dash [DASH]0,77%
Monero [XMR]0,72%
NEM [XEM]0,63%
Others23,22%

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Top 15 chart (measured by their Market Capitalization):

 
Reflecting the small increase we saw on the market today we are only able to spot four red numbers in our top 15 chart with the worst performing Cryptocurrency being Monero [XMR] today with an decrease of 1,50% over the course of the last 24 hours followed by IOTA [MIOTA] with an decrease of 0,42% today. Best performing one in our top 15 chart is a newcomer in our top 15 chart Binance Coin [BNB], one of the few stable increases over the past few months, and a gain of nearly 8% today:

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Source

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Top Gainer Today (out of the Top 100):

 
Best performing Cryptocurrency in our top 100 chart, measured by their market capitalization, and the only double digit increase is Dragonchain [DRGN] with an increase of nearly 14% over the course of the last 24 hours followed by Decentraland [MANA] showing an decrease of more than 8% today:

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Source

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Top Loser Today (out of the Top 100):

 
Worst performing Cryptocurrency in our top 100 chart is Maker [MKR] today with an decrease of more than 4% over the course of the last 24 hours shortly followed by Basic Attention Token [BAT] showing an decrease of nearly 4% today:

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Source

 
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Disclaimer: I'm in no way a financial advisor. I just state my opinion! Never do investments because someone told you or in the fear of missing out! Take your time to research. Don't be sheep, develop critical thinking on your own!


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If BTC can get a daily close above $6,700 I think we could see a nice push towards the upside.BTC D.pngBTC 4.png

To be honest I do believe we will be bearish for some still some time. Can recommend @lordoftruth 's daily bitcoin trend series for a detailed analysis!