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Week 40 – Overview of fundamentals and markets

invest, price, Bitcoin, week 40

Welcome to our new weekly brief of what is going on on the markets and what are expected events in week 40. It should help you with jumping back on track after weekend. 

Fundamentals and expected events: week 40

  • European stock markets ended the week with another significant decline. It was based mainly on the increase in concerns combined with the coronavirus pandemic and on concerns about further economic development. The travel sector found itself in trouble.
  • The banking sector suffered huge losses due to the scandal with the largest global banks allowing money laundering worth billions of USD.
  • US stock markets tend to volatile trading now as investors are growing nervous about elections. First presidential debate should take place this week. There are also negotiations between Democrats and Republicans on the possible form of a second fiscal support package, which could reach at least $ 2.4 trillion. 

Cryptomarkets and marketcap: week 40

  • Today, we reached a marketcap value of $ 350 billion.
  • Last week we were recording a low of $ 317 billion and a high of $ 350 billion. Bitcoin is low at $ 10 700 over the same period. High on Bitcoin at $ 10 910, now $ 10 750.
  • Bitcoin dominance is 57.6%.
  • Market sentiment  is at 45 points, which means fear , while last week it was at 39 points, meaning also fear.

BTC/USD

Bitcoin is a cryptocurrency and a worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or a single administrator. Bitcoin is currently hovering at $ 10,750. BTC maintained support at $ 10 300. The resistance is at $ 11,100 after BTC broke the $ 12 000 level. Bitcoin is a cryptocurrency with its own blockchain. Bitcoin is listed on 86 exchanges with a sum of 400 active markets. The 24h volume of BTC is $ 14 079 777 243, Bitcoin market cap is $ 201 592 911 922, which ranks it as #1 of all cryptocurrencies.

Support: $ 10 300

Resistance: $ 11 100, next step at $ 12 000

Chart

XRP/USD

Ripple (XRP) is one of the fastest and most scalable digital asset, enabling real-time global payments anywhere in the world. XRP is a cryptocurrency with its own blockchain. The most actual price for one XRP is $ 0.245960. XRP is listed on 120 exchanges with a sum of 399 active markets. The 24h volume of XRP is $ 638 103 880, while the XRP market cap is $ 11 092 141 446 which ranks it as #4 of all cryptocurrencies.

Support: $ 0.20-0.176

Resistance: $ 0.30

Chart, line chart

ETH/USD

Ethereum is a decentralized platform for applications. Applications built on it can use smart contracts – computer algorithms which execute themselves when data is supplied to the platform. There is no need for any human operators. Ethereum (ETH) is a cryptocurrency with its own blockchain. The most actual price for one ETH is $ 364.71. Ethereum is listed on 99 exchanges with a sum of 400 active markets. The 24h volume of ETH is $ 8 980 886 499, while the Ethereum market cap is $ 41 135 945 125 which ranks it as #2 of all cryptocurrencies.

Support: $ 312

Resistance: $ 396

Chart

 

If you would like to know more about our charts and what they mean, we are preparing a series of webinars for beginner traders. Follow us to learn more. 

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bitcoin
Bitcoin (BTC) 11.595,20 5,18%
ethereum
Ethereum (ETH) 341,91 3,31%
platoncoin
PlatonCoin (PLTC) 0,255807 8,69%