Cryptocurrencie Market Daily Review To Have A Good Relaxing Day
It is a good idea that you know first of all that the global cryptocurrency market is estimated to grow until 2024 in a total of more than $ 850 Billion according to the latest summary made by benzinga.com.
From that it is clear that Van Eck and SolidX don’t want to stay out of this figure economic estimate. Once again, the boiler in the market began to heat up with the discussion of the approval of Exchange Trade Funds (ETFs).
We only hope for this time, that it’s not being a marketing strategy to generate a large volume of purchases and sales, and a huge margin of volatility, as often happens every time this type of news expands through the community.
Anyway, in the following lines we want to present the perspective of the cryptocurrency market for the last hours.
To date more than $ 5.55 billion Shorts positions get liquidation on BitMEX And $ 8.8 billion Longs
It was estimated that $ 14.35 billion / 25x = $ 574 million of real funds got liquidated through the course of 2019 in Bitmex.
But the last few hours over $ 68 Million of Shorts ‘Rekt’ int BitMEX were liquidated. The real bulls woke up strongly.
A Curious Case With Ethereum
Etherum trading volumes across US accessible exchanges reached their second lowest monthly trading volume of 2019 for the month of August according to tradeblock.com.
While trading volumes had increased in the spring of 2019 on the back of accelerated price momentum, Ethereum volumes have declined recently as the price slumped.
Feeling And Total Market Capitalization
The feeling improved a lot since the last hours. alternative.me shows around 41 points, A good difference since the last measurement.
Anyway, investors are still with some uncertainty and fear. Same that in the last hours they have moved more than $7M in USDT from the Teather Treasury.
But the good thing is that over the past 24 hours, total market capitalization rose from ~$252 billion to ~$263 billion, with most coins seeing gains in the ~2–5% range, according to coinmarketcap.com.
24-hour daily volume registered ~$59 billion, a good ~30% increase over the past few days.
Bitcoin Daily Tracking And Dominance
Bitcoin is currently trading around~$10,580, up ~6% over yesterday.
Bitcoin dominance has broken the 70% mark, and is currently at ~70.2%! The last time we saw these levels was back in mid March 2017. -it’s back trading above its 21, 50 and 100-day EMA lines, and RSI is around ~50.
The downward trend line was broken and this can be a positive signal. Anyway our ego must remain alert.
Disclaimer: In anyway, this article recommend the purchase of any assets, this is a personal opinion of the author. Investment in cryptocurrency is extremely risky and volatile. Also, if you are an investor, always do your own research before investing in anything!
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