Several large reductions in the Crypto Market Cap have occurred in the last week. They have caused drops in coin prices across the board as well as possibly some market panic and sell offs which have led to even further declines in prices. Market analysis is based on the evaluation of organic movements in the markets not being manipulated by data reporting or possible "whale investors". There are several reasons given for these quick reductions in Billions of USD equivalence from the CMC in multiple publications. This again establishes the volatility of the Crypto space and reminds every one this is a speculative market. I am pointing out the areas of major price drops correlating to the drops in CMC:
#1 1/8 23:47 UTC ($829,667,000,000) to 1/9 14:47 UTC ($702,303,000,000) -14% Market Cap Drop = 350 Satoshi Drop
#2 1/10 22:47 UTC ($731,310,000,000) to 1/11 04:47 UTC ($628,386,000,000) -13.5% Market Cap Drop = 400 Sat Drop
#3 1/11 16:47 UTC ($711,734,000,000) to 1/12 00:47 UTC ($649,125,000,000) -9% Market Cap Drop = 1,240 Sat Drop
#4 11/15 16:47 UTC (713,329,000,000) to 1/16 01:47 UTC ($641,990,000,000) -11% Market Cap Drop = 480 Sat Drop
As you can see this creates a lot of volatility in the prices of the coins and causes a quick decline in value. Keep this in mind when investing in the Crypto Space.
With that said XRP is possibly breaking out, there was a bounce I anticipate the same with the price returning to >= 2,586
#1 1/8 23:47 UTC ($829,667,000,000) to 1/9 14:47 UTC ($702,303,000,000) -14% Market Cap Drop = 350 Satoshi Drop
#2 1/10 22:47 UTC ($731,310,000,000) to 1/11 04:47 UTC ($628,386,000,000) -13.5% Market Cap Drop = 400 Sat Drop
#3 1/11 16:47 UTC ($711,734,000,000) to 1/12 00:47 UTC ($649,125,000,000) -9% Market Cap Drop = 1,240 Sat Drop
#4 11/15 16:47 UTC (713,329,000,000) to 1/16 01:47 UTC ($641,990,000,000) -11% Market Cap Drop = 480 Sat Drop
As you can see this creates a lot of volatility in the prices of the coins and causes a quick decline in value. Keep this in mind when investing in the Crypto Space.
With that said XRP is possibly breaking out, there was a bounce I anticipate the same with the price returning to >= 2,586
코멘트:
right now with this market wide correction I am holding all my trades. Altcoins have made some good rebounds since the sell off first of the week. I feel like BTC needs to give us better signals before we can figure out the alts exactly. I will be updating all my trades I am following this weekend. I should be able to give a much better analysis by then. For now hold with patience. Thanks
코멘트:
Looking for signals for a break out from 10 days of consolidation. If we see returns of the Market Cap to pre January 10th levels we could see major movement in this coin as its primed for a breakout.
