Bitcoin, Ethereum, altcoins - Cryptocurrency overview - 4/03/2020

Quotes of most liquid cryptocurrencies at the end of last week rebounded from their minimum values achieved in the lastcorrection. Volatility indicators have fallen markedly. The indicator of total market capitalization since Monday has grown by 2.4%, and its value at the moment is $ 252 billion.

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Our indicator BC 10 Index added 2.1% and, thus, its value is 156.9 points.

Bitcoin

The dynamics of the BTC to the US dollar (BTC / USD)

The BTC price went up from the bearish channel, andat the moment it reached the resistance level in the region of $ 8950 for one coin, after which there was a rollback. The dynamics of trading over the past week allows us to identify price movements as a side trend in the range of $ 8500- $ 9000. From a technical point of view, for the formation of a reversal pattern, quotes need to gain a foothold above the upper boundary of consolidation. Meanwhile, experts expressed their opinion on BTC.

Ethereum

ETH to USD exchange rate dynamics (ETH / USD)

A similar situation exists in ETH. Volatility decreased markedly, the emotions of the participants calmed down. The emerging pattern of the bearish triangle was broken and quotes went beyond the red line, showing that the forces of the "bears" in this phase of the market weakened.

Ripple

Dynamics of the XRP to the US dollar (XRP / USD)

XRP quotes are moving in a general market trend. The upper boundary of the triangle has shifted, due to which there is the likelihood of more lateral lateral movement than originally thought. As noted earlier, in the event of a breakdown of the green line, the next support is located around $ 0.20. Details of what is happening with Ripple can be found in our LongRid.

Bitcoin cash

BCH to USD exchange rate dynamics (BCH / USD)

The price of BCH broke through the upper limit of consolidation andwent beyond the border of the downtrend indicated by the blue line. From a technical point of view, in the near future, the coin may have favorable conditions for moving up, however, the dynamics of BCH at the moment is highly dependent on general market sentiment.

Bitcoin SV

BCH to USD exchange rate dynamics (BCH / USD)

BCV shows positive dynamics on the basis oflast trading week. A short-term uptrend has formed, which has not been continued due to the more global downtrend passing in the vicinity, and by now the price has gone sideways.

World context

John Kankliff, the deputy manager for financial stability of the Bank of England, said that cryptocurrencies could have a negative impact on the bank lending system.

Cheng Weigang, a former vice president of the Banking Regulatory Commission of the PRC, said he did not rule out a complete ban on cryptocurrency trading in the country.

In Hong Kong, the authorities plan to further tighten the regulation of the cryptocurrency sphere in security matters, according to the recommendations of the FATF.
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