In this edition we want to highlight that feeling is a different word of activity. Therefore pay attention to the following information.
Negative Feeling vs Community Activity
For a few days here the market has been breathing an extra negative feeling according to the report of alternative.me.
Five points means that you are breathing extreme panic in the market. But that should not be confused with the activity variable. What do we mean? We simply want to say that panic is present, the community remains active. We note that the large-scale cryptocurrency market is a dynamic community-based market. Notice the reasoning: most of the time the market is highly volatile, the community’s investment activity increases and the feeling and encouragement also, but with some exceptions.
And now a review of the market in the last 24 hours.
Total Market Capitalization
Over the last 24 hours, total market capitalization bounced within a tight range of ~$256.2 billion and ~$264.7 billion, and is currently at ~$262.6 billion according to coinmarketcap.com.
Most coins are either seeing gains or losses in the ~1–3% range. 24-hour volume is slightly higher today at ~$60 billion, compared to the previous few days.
A curious report about the dominance
kryptografen.com says that “Bitcoin’s reported market dominance is approaching 70%, but in reality it is above 90%”. In a way, that has been seen in recent months. So this data is very curious in personal terms. And the truth is that every day investors and people are seeing Bitcoin as their own store of value and prefer to keep their money in Bitcoin than other currencies.
The analysis by Arcane Research shows how the real market dominance of bitcoin is way higher than what is traditionally reported says kryptografen.com.
The report also goes into detail in the following aspects: (a) Success does not imply high valuation; (b) High valuation is an indication of success; (c) Market capitalization without considering liquidity is meaningless; (d) Bitcoin relatively more liquid than other coins; (e) Tokenized assets should be excluded; and (f) Bitcoin is best positioned to become the money of the internet. Where (d) and (f) reinforce our personal opinion.
Bitcoin Daily Tracking
BTC is currently trading around ~$10,090 — pretty much stayed at the same level as yesterday.
On the daily chart, it broke and closed below its 50-day EMA line, with RSI level at ~42. On the weekly chart, the MACD line is very close to crossing over to the downside of the signal line. Take care the next week.
Disclaimer: In no way does this article recommend the purchase of any assets, this is a personal opinion of the author. Investment in crypto-currency is extremely risky and volatile. Also, if you are an investor, always do your own research before investing in anything!
More information in our oficial telegram channel, Twitter, Facbook & Instagram.
Sign up to Newsletter now so you don’t miss the first issue. In the mean time, tell your friends!
Tip your crypto donation here
Bitcoin: 1GqwbC6nriwLfSsvyr6CRYcqMifJfHMMAk
Ethereum: 0xdbba10934827434447bF4C073e1B344329eC5C15
DAI: 0xe392ca29d982DCDbb63B56E86C8651d8A7FaB3a4
