Is the market still bullish?

The whole crypto market has been falling for a few days. The Bitcoin price is below the $ 50,000 mark with a target of around $ 34,773. But what does the complete crypto market look like? Will the Bitcoin course or other Altcoins perform better?

Total crypto market capitalization at a glance

The market capitalization has formed an ABC sequence. This had the initial target at +/- $ 2.091 trillion. The course then rose further than the target but was then corrected. We would have expected the price to react upwards sooner, but the price continued to decline until the next GoldenPocket.

Since the course has been corrected up to the drawn-in GoldenPocket, a new possible ABC sequence has been created. The sequence targets +/- $ 2.669 trillion and +/- $ 3.301B - $ 3.689B. Since the first target is +/- $ 2.669B, we would not completely ignore the target from the lean ABC sequence and assume another correction beforehand. Target from the minor, purple sequence, is $ 2,458B - $ 2,669B.

Will the Altcoins outperform Bitcoin in the crypto market?

If we look at the Bitcoin dominance, we can see that the Bitcoin dominance has been corrected up to the GoldenPocket and reacted bullishly there. Furthermore, the dominance is currently forming a doji in the weekly chart, which indicates a trend reversal. The altcoin dominance is also currently hitting a doji and also has a bearish divergence in the RSI. Thus we would expect the altcoin dominance to retest the former resistance at +/- 11.02%. Then the Bitcoin dominance would increase with the following goals: 58% and 60%. Since we assume that Bitcoin dominance will increase, Bitcoin could outperform other Altcoins.

Comments

BlackRock launches crypto ETF, certifies massive growth potential for crypto market

Influential asset manager BlackRock has launched a blockchain index fund (ETF) that offers investors a way to invest in the crypto industry without having to invest directly in related cryptocurrencies. Accordingly, the world's largest asset manager, which currently has assets worth almost 10 trillion. US dollars managed, the so-called Blockchain and Tech ETF (IBLC) was launched this week. The $4.7 million ETF does not invest directly in cryptocurrencies or crypto investment products, but instead tracks various companies within the crypto industry. The ETF is made up of 41 different securities, of which the American crypto exchange Coinbase accounts for the largest share at 11.45%. They are followed by the Bitcoin ( BTC ) mining companies Marathon Digital Holdings (11.19%) and Riot Blockchain (10.41%). To still leave room for future investments in the crypto market, the ETF has a 9.15% cash component in US dollars. In addition to the launch of the new ETF, BlackRock has also publ...

The 5 largest platforms for non-fungible token (NFT) collectibles

Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day. More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream. But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token. Any asset that is tokenizable can be an NFT. This includes, for example, (digital) works of art, trading cards, game items and crypto domains. Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain. This allows them to store value just like real objects, even if additional copies are easy to make. For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...

Cryptostreet

Search This Blog