Top 10 Crypto Market Report: 14 March 2018
The crypto market continous it slide after renewed regulationary concerns. I can't stress this enough but the crypto market really needs this... However, the G20 statement is something to keep an eye on. Statements like this are normally followed by action. And it can take months or even years but when they say that more monitoring is coming. But it usually means that regulation and talk of multilateral action is ominous. But again, the market needs this...
The Google ban ad is something that I'm not worried about. Like wtf? I never decided to buy crypto after seeing an advertisment on Google... Only morons do something like that.
Bitcoin is moving towards that important support zone. So my analysis from last Saturday is still valid.
The market has to prove me wrong by pushing firmly above that 50dMA ($ 10080). Otherwise we will simply retest the low and/or test the supportzone between $6800-$7200.
Breaking trough that support zone would imply a new low around $4500 (That's a target where I would go "all-in")
News
Exclusive: G20 financial heads to urge crypto-asset monitoring to safeguard financial stability
IMF's Lagarde says cooperation needed to keep crypto-assets safe
Top 10 - Snapshots
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This is a GIF that jumps every 10 seconds to another crypto asset.
Top 10 - Change Since Previous Close
In U.S. dollar
A sea of red... (Zoom in.)
In BTC
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Top 10 - 24h Change in volume.
Top 10 - 7 day change
Top 10 - YTD Change
In U.S. dollar
NEO is the only gainer YTD. But for how long?(Zoom in.)
In BTC
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Top 10 - Market Cap
Overview
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Change since previous day
Nice inflow into most top 10 coins. People are selling theire smal caps? (Zoom in.)
Crypto vs The Dow Jones
Bitcoin and Ethereum in the Dow Jones
A 6.5% drop in the market cap of the Dow Jones equals to a total wipeout of the crypto space. Remember that and stay humble. It could be over in a blink! (Zoom in.)
Daily gain/loss
Both assets classes are under pressure. Not the first time though. (Zoom in.)
Precious metals
Change since previous close
Precious metals > Crypto. (Zoom in.)
YTD change
Platinum and gold are the only gainers for YTD(Zoom in.)
Daily Bitcoin/Gold ratio
One bitcoin buys 6.57 ounces of gold today.(Zoom in.)
I still expect that this ratio needs to drop towards 5.4 BEFORE we can shoot to the moon. Gold could rise harder than bitcoin OR bitcoin simply drops again. (11 march 2018)
Daily Ethereum/Gold ratio
One ethereum buys 0.50 ounce of gold. We're appraching that support zone again...(Zoom in.)
During the next couple of days, I expect that we will retest that support zone again. Breaking below that support will be messy... (11 march 2018)
You can see that this ratio topped at 1.05 ounces and then it dropped hard. This is remarkable because Bitcoin did the same thing when it touched 1.05 ounces of gold back in march 2013. Watch here!
Alternative data
Twitter @Bitcoin
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Twitter @Ethereum
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Interest is back at normal levels. It's almost time to buy again!
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Very comprehensive interpretation of the possible future of Bitcoin. I totally agree with you....if we see that dip bottoming that low, I'm definitely all-in as well!