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Week 47 – Overview of fundamentals and markets

cryptoexchange, exchanges, Week 47

Welcome to our weekly brief of what is going on on the markets and what are expected events in week 47. It should help you with jumping back on track after weekend. 

Fundamentals and expected events: week 47

  • Cryptocurrencies: Bitcoin has crossed the $ 16,000 mark again after trying to stay above it during the last weekend. The dominance of Bitcoin thus again exceeded 65%. Currently, Bitcoin is strengthening again and is being traded at price of around 16,200 USD. High-capitalized altcoins are looing to the market leader and are more in the red numbers with a slight decline. Analysts expect increased volatility in cryptocurrencies.
  • Stock and commodity markets: The results season continues, with economic results published by well-known companies such as Baidu, Tyson Foods, Home Depot, Walmart, NVIDIA, Target, Lowe’s and the Chinese competitor of Tesla, the company NIO. Last week in the stock markets was marked by an increase in valuations, especially for the shares that were most affected by the pandemic. The stock market was aided in particular by a report on a new vaccine from Pfizer / BioNTech, which is expected to be around 90% effective. The indices in Europe, which is currently most affected by the pandemic, experienced a sharp rise. The mood of the markets is positive, despite the further growth in the number of infected persons, so the pandemic, despite reports of the vaccine, remains a risk that still needs to be reckoned with.
  • Important events: The coming week will be very rich in planned events. In addition to the traditional speeches by the President of the ECB and other central banks representatives, a meeting of OPEC countries will take place, followed by a meeting of G20 representatives at the end of the week.

Cryptomarkets and marketcap: week 47

The total crypto market cap added $19.4 billion to its value for the last seven days and now stands at $463.3 billion. The top 10 currencies showed mixed results for the same time period with Litecoin (LTC) adding 10.4 percent to its value while Bitcoin Cash (BCH) lost 8.8 percent. By the time of writing bitcoin (BTC) is trading at $16,257, ether (ETH) stabilized around $454 Ripple (XRP) skyrocketed to $0.271.

  • Today, we reached a marketcap value of $ 463,3 billion.
  • Last week we were recording a low of 430 billion and a high of 467 billion. Bitcoin is low at $14 912 over the same period. High on Bitcoin at $16 440, now $16 200 .
  • Bitcoin dominance grow, now 65 %.
  • Market sentiment is still at 90 points, meaning extreme greed, while last week it was at 90 points.

 

BTC/USD

The most actual price for one Bitcoin [BTC] is $16 325.27. Bitcoin is listed on 91 exchanges with a sum of 400 active markets. The 24h volume of [BTC] is $15 656 345 608, while the Bitcoin market cap is $302 643 951 873 which ranks it as #1 of all cryptocurrencies.

The 24-hour trading volumes moved up to $29 billion on Tuesday then fell to $21 billion on the next day just to recover back to $29 billion on Friday. They started falling during the weekend and reached a weekly low of $18 billion on Sunday.

Chart

 

ETH/USD

The most actual price for one Ethereum [ETH] is $456.09. Ethereum is listed on 108 exchanges with a sum of 400 active markets. The 24h volume of [ETH] is $9 811 172 666, while the Ethereum market cap is $51 742 683 038 which ranks it as #2 of all cryptocurrencies.

The weekend of November 14-15 started with an expected pullback down to $461 on Saturday as the uptrend started losing its momentum. The drop resulted in erasing all gains from the previous session.

Then on Sunday, the ether fell further to $447 forming its second consecutive red candle on the daily chart.

The 24-hour trading volumes were hovering around $11 billion during the workweek then decreased to sub-$7 billion levels on Sunday.

Chart

 

LTC/USD

The most actual price for one Litecoin [LTC] is $67.97. Litecoin is listed on 144 exchanges with a sum of 395 active markets. The 24h volume of [LTC] is $1 902 645 074, while the Litecoin market cap is $4 509 735 265 which ranks it as #7 of all cryptocurrencies.

Litecoin price is gaining momentum above $65.00 against the US Dollar. LTC is likely to continue higher towards the $70.00 and $72.00 resistance levels in the near term.

Litecoin remained well bid and surpassed the $65.00 resistance zone against the US Dollar.
The price is now trading nicely above the $66.00 level and the 100 simple moving average (4-hours). There is also a major bullish trend line forming with support near $63.00 on the 4-hours chart of the LTC/USD pair.

Chart, histogram

 

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) 14.612,99 7,57%
ethereum
Ethereum (ETH) 444,42 7,50%
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PlatonCoin (PLTC) 0,372847 4,63%