Still Decreasing Big — A Market Analysis
Following yesterdays decreasing pattern the market dipped huge once again today.
Total Market Capitalization:
After starting in the day with an slow decrease the market dipped fast to its todays low of more than $372 billion USD total market capitalization midday. Following this dip the market started to increase slowly followed by a up and down. Adding this all up we see an decrease of more than $18 billion USD, from more than $395 billion USD total market capitalization 24 hours ago to more than $376 billion USD total market capitalization at time of writing:
Dominance (Percentage of Total Market Capitalization):
Following this dominance charts for the past several months it seems like Bitcoins dominance grows quite substantially in times the market isn’t doing great. On an increasing market like we see lately Bitcoins dominance seems to decrease while those of altcoins seem to rise.
| Cryptocurrency | Dominance |
|---|---|
| Bitcoin [BTC] | 37,24% |
| Ethereum [ETH] | 18,29% |
| Ripple [XRP] | 7,14% |
| Bitcoin Cash [BCH] | 5,77% |
| Litecoin [LTC] | 2,06% |
| IOTA [MIOTA] | 1,36% |
| NEO [NEO] | 1,04% |
| Dash [DASH] | 0,87% |
| Monero [XMR] | 0,84% |
| NEM [XEM] | 0,77% |
| Others | 24,63% |
Top 15 chart (measured by their Market Capitalization):
Like yesterday green is rare in our charts today. In fact there is not a single green number in our top 15 chart today with the worst performing Cryptocurrency in it being EOS [EOS] once more with an decrease of more than 9% over the course of the last 24 hours followed by Stellar [XLM] with an decrease of more than 8% today:
Top Gainer Today (out of the Top 100):
Only seven green numbers in our top 100 chart, measured by their market capitalization, with the best performing Cryptocurrency in it being Veritaseum [VERI] with an increase of nearly 7% over the course of the last 24 hours followed by Basic Attention Token [BAT] with an increase of more than 4% today:
Top Loser Today (out of the Top 100):
Worst performing Cryptocurrency in our top 100 chart is Mithril [MITH] with an decrease of nearly 17% over the course of the last 24 hours followed by Mixin [XIN] with an decrease of more than 15% today:
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Yep -- still pulling back. Look at the daily and weekly (or even monthly), definitely down trend. I'm still comparing this with the 2013-2014 burst which took over a year to correct. That being the case would put us a long way from bottoming, but I think blockchain concepts have more momentum than last time, so we will probably see correction soon. Either way it will probably be a while of longer sideways price action IMO. I don't think we can jump right back into a bull rally (long term like we saw anyway).
Yeah! It really looks that way! Nothing more left to wait and stack up some when price is low.