With bitcoin and Ethereum 5% Crypto market rebound, an increase of $7 billion

The | Joseph Young

| Yi compiled together

In the past 24 hours, bitcoin and Ethereum rebound in about 5%, encryption currency market valuation increases 7 billion dollars .

Bitcoin (BTC) successfully defended the relatively weak support level of $4000, while Ethereum prevented ETH further below the $110 support level.

However, the main encryption currency based on momentum in the past few days, if the dominant currency is not encrypted cleanly break the range of $4000 to $4200, it is still possible to fell to about $3000 in the short term.


Bitcoin and Ethereum, the next step will be to decide on what path to follow?

Bitcoin is still two and Ethereum have a strong daily trading volume of encryption currency only. As of December 1st, BTC day turnover of about $5 billion 500 million, $2 billion in ETH on the volume stability.

Daily trading volume of ETH was greater than Ripple (XRP), Bitcoin Cash (BCH) and Stellar (XLM) and the daily turnover.

A report released last month showed that ETH was not affected by the recent sell-off of the initial issuance of coins (ICO) serious impact of the project on the ETH settlement.

Placeholder VC partner Chris (Chris Burniske) said Bernice g:

In fact, in the period from November 14, 2018 to 30, only $8 million worth of ETH in market transactions. According to our data, we are confident that the ICO project is to respond according to the market conditions, but not mandatory.

Daily trading volume ETH and higher BTC showed that these two kinds of encryption currency is not like most encryption on the currency market and small capitalization as crypto currency at low selling pressure, free fall.

In a highly turbulent period, low volume encryption is dangerous and risky currency, if sell orders hit the market, will be the first digital assets fell sharply.

BTC and ETH in the past 24 hours rebounded by more than 5%, while XRP and BCH showed a 1.5% to 3% price increase.

If bitcoin and ETH can cleanly break through key resistance, then the encryption currency may lead the market in the short term rebound. Bitcoin and ETH resistance were $4300 and $120.

However, if these two assets continue to their failed to break the resistance, the market will be difficult to see the price rose sharply.


The basic data show that ETH in good condition

Blocktown Cap, managing partner Joseph Todaro (Joseph Todaro) reported that the Ethereum block chain network daily 60 million transactions, the transaction amounted to 5 billion dollars, and almost every new distributed application (dApp) or projects are built on Ethereum.

Call ETH reason

Daily turnover of US $500 million

Daily trading volume of 600 thousand

– compared with the 1 quarter issue to reduce the amount of 1/3

-ETH lock continued growth

– fell 92%

– the current interest is focused on ETH

– Joseph Todaro (@j3todaro) November 30, 2018

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