Week 08 – Overview of fundamentals and markets

the potential, week 08

Welcome to our weekly brief. Here you will find what is going on on the markets and what are expected events in week 08. It should help you with jumping back on track. 

Fundamentals and expected events: week 08

  • Cryptocurrencies: After this historic high of over $ 58,000, Bitcoin fell briefly by more than $ 10,000 to a low below $ 48,000. Most alternative coins also went down in price. Ethereum dropped below $ 1,800. Total market capitalization has fallen by more than $ 400 billion. Bitcoin has risen briefly back to over $ 53,000 again, but did not manage to stay there and at the time of writing is below $ 50,000. Volatility on cryptomarkets is now very high even for cryptocurrencies, and larger movements in both directions cannot be ruled out.
  • Stock and commodity markets: Gold started this year on a wave of expectations, at a record high level and with the largest annual profit in the last ten years. Instead, this precious metal has turned around and so far has had the worst performance in 30 years. According to analysts, many investors have chosen to collect their gold profits, however, further price increases can be expected in the medium term. Stock markets are uncertain. Some markets expect the pandemic situation to improve, while the other part awaits vaccination results and economic subventions. The situation in some countries is still worrying.
  • Important events: Among the key events this week is the speech of Jerome Powell, Chairman of american Fed and a meeting of G20 leaders later this week.

Cryptomarkets and marketcap: week 08

The total crypto market volume over the last 24 hours is $ 262 962 952 318, which makes a 9% decrease.
Bitcoin’s price is currently $ 48 397.31.
Bitcoin’s dominance is currently 61.9% (coinmarketcap.com).
Market sentiment is at 94 points, meaning extreme greed and an increase from last weeks 93 points.

BTC/USD

The most actual price for one Bitcoin [BTC] is $48 397.31. Bitcoin is listed on 84 exchanges with a sum of 400 active markets. The 24h volume of [BTC] is $101 059 022 462, while the Bitcoin market cap is $901 944 394 878 which ranks it as #1 of all cryptocurrencies.

The last couple of months saw MicroStrategy—a public-listed software intelligence firm—upping their Bitcoin reserves to more than 71,000. Tesla, a Fortune 500 company, also purchased $1.5 billion worth of Bitcoin in February, a move that propelled the cryptocurrency market’s cap above $1 trillion for the first time in history. Current support is up to $ 46,000. Today we see a drop below $ 50,000.

Chart, histogram

ETH/USD

The most actual price for one Ethereum [ETH] is $1 542.70. Ethereum is listed on 89 exchanges with a sum of 400 active markets. The 24h volume of [ETH] is $44 437 522 954, while the Ethereum market cap is $177 081 759 532 which ranks it as #2 of all cryptocurrencies. (coinpaprika.com)

  • Ethereum price traded to a new all-time high at $2,043 before correcting lower against the US Dollar.
  • ETH price is currently trading well below $1,750 and the 55 simple moving average (4-hours).
  • There was a break below a major bullish trend line with support near $1,840 on the 4-hours chart (data feed from Coinbase).
  • The pair is likely to continue lower towards the $1,640 and $1,600 levels in the near term.

Graphical user interface, chart, histogramXLM/USD

The most actual price for one Stellar [XLM] is $0.386744. Stellar is listed on 101 exchanges with a sum of 238 active markets. The 24h volume of [XLM] is $1 899 645 292, while the Stellar market cap is $8 693 990 062 which ranks it as #11 of all cryptocurrencies.

Marked in cyan is a range that XLM was trading within in January. This range extended from $0.22 to $0.36, and a breakout above this range presented a target of $0.5 for XLM bulls.

This was achieved in mid-February, but the trading activity has begun to go silent since then. The $0.5 level saw XLM oscillate above and below it, and the market could see further consolidation for XLM in this region.

In support of this, the Awesome Oscillator showed hardly any momentum to either direction on the 4-hour chart, and trading volume was also trending lower.

Graphical user interface, chart, histogram

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