Crypto markets analysis 05/02/2018

The Crypto markets record another black wikend today, after recovering on friday from 7830 USD to 9700 USD, Bitcoin record another deep failling from 9300 USD to 8500 USD, the total Market Cap fall from 700 Billions to 399 Billions .

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Image from coinmarketcap 

This crash is caused by serval facotrs :

1- The fear of a ban of crypto currency in India, Japan and South Korea .

2-The negative impact of the listing of Bitcoin on stock exchange like : CBEO and CME .

3-The last Hack against crypto exchanges as the las hack against the South Korea Coinexchange .

Also the others crypto markets record some loses, Ethereum fall from 1100 USD to 855 USD, Ltc from 180 USD to  148 USD .

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Bitcoin : 

News of government crackdowns and exchanges being hacked have turned the euphoric parabolic moon-bulls into panicked waterfall dumping bear .

The daily chart indicator show that bitcoin is bearish for short and the middle term, maybe the correction will push Bitcoin more deeper to the levels of 7500 USD, 700 USD and 6500 witch in the next strong resistance line, but for the long termBitcoin is bullish and this levels are a good entry for a long term holding .

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Bitcoin Chart  from coinmarketcap 

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Ethereum : 

Ethereum still in a bearish movement, after the last crash in the crypto markets, this coin  maybe will record another pullback, the strong support levels are 750 USD, 650 .

But if there is positive news that will come into the markets, Ethereum will come back to be traded around 1000 USD to 1100 USD .

But in others words, Ethereum is always purchased from investor and traders in order to use ethereum as a payment methodes, to fund ICO projects, for long term Ethereum remain bullish, and this levels are a good entry point for a long term trade on this market .

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Ethereum Chart  from coinmarketcap 

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Litecoin : 

After reaching a new all time high price on the last month of 2017, litecoin made a strong correction falling from 450 USD to 148 USD, With the launching of Litepay  »exclusive transaction processor that will Become the first alternative to the high fee of the Bitcoin network » says Charlee Lee on twitter .

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This maybe will result into a big move into the price of Litecoin .

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Litecoin Chart  from coinmarketcap 

 

The coins that you need to keep your eyes for this month :

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ETC because there is a hardfork on the blockchaine of this coin on 07/03/2018 .

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Monero Because there is a hardfork on the blockchaine of this coin on 05/03/2018 .

Also keep your eyes on Zcash, because it has become the first alternative to store wealth for businessman in offshore accounts .

 

Read also :

Btceth ltc and bch price-analysis 31-01-2018/

 

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