Another week, another recap. This one is not as bright as some previous ones, given how bearish trends dominated the market to the point of making the big names tank beyond prediction. Let’s see exactly what happened:
Top 10 Cryptocurrencies - Market Value
1 - BTC: $8128.39, with a change of -0.89% since yesterday and -18.62% since last week.
2 - ETH: $172.82, with a change of -0.90% since yesterday and -19.66% since last week.
3 - XRP: $0.2411, with a change of -0.74% since yesterday and -16.75% since last week.
4 - BCH: $224.07, with a change of 1.78% since yesterday and -28.18% since last week.
5 - USDT: $1.004, with a change of 0.00% since yesterday and 0.10% since last week.
6 - LTC: $55.1, with a change of -1.68% since yesterday and -24.81% since last week.
7 - EOS: $2.854, with a change of 0.53% since yesterday and -28.79% since last week.
8 - BNB: $15.59, with a change of -0.70% since yesterday and -25.66% since last week.
9 - BSV: $83.3, with a change of -1.19% since yesterday and -31.89% since last week.
10 - XLM: $0.0582, with a change of -1.27% since yesterday and -16.44% since last week.
It all happened on Tuesday. BTC fell for more than $1,000 in a couple of hours, and reached even lower levels on Thursday, reaching values below the $8,000 mark. As expected, with such steep movements, the rest of the market also took a big hit.
Analysts are linking this big drop to a huge sell-off in the U.S. Stocks, making indicators like Dow Jones drop accordingly (nearly 300 points). However, the idea of cryptocurrency is of an alternate way of storing or hedging funds, independent and safe from such events, but this link between the two events can be translated as a lack of interest or demand for crypto as a haven.
It’s also important to note that long-term tendencies are beginning to switch towards the bearish side, so we might have to prepare ourselves for hard times.
Top 10 Cryptocurrencies - Performance
1 - SNM: $0.01559, with a change of 45.56% since last week.
2 - LOOM: $0.03329, with a change of 40.64% since last week.
3 - CRPT: $0.508, with a change of 38.56% since last week.
4 - SEELE: $0.01037, with a change of 32.45% since last week.
5 - EXP: $0.07303, with a change of 32.00% since last week.
6 - BTX: $0.2005, with a change of 18.06% since last week.
7 - FLO: $0.0531, with a change of 14.60% since last week.
8 - QRL: $0.1409, with a change of 13.52% since last week.
9 - MDA: $0.6853, with a change of 12.90% since last week.
10 - BCV: $0.05235, with a change of 10.22% since last week.
This means next week we will cover SONM, a decentralized fog computing company that provides cloud services based on distributed customer level hardware including PCs, mining equipment, and servers.