TOTAL (Crypto Total Market Cap) Crypto Index Analysis 09/04/2021
Updated
earlier we have analyzed the market cap and hedged our portfolios with its Alpha Ratio Calculate based on this analysis:
as we can see it has followed the prediction up move, up to 2 Trillion Dollars.
fundamentals:
The total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand.
Bitcoin, the largest of the more than 6,600 coins tracked by CoinGecko, is worth more than $1 trillion alone after its price more than doubled in 2021 to $58,858. The five next biggest coins -- Ether, Binance Coin, Polkadot, Tether and Cardano -- have a combined value of about $422 billion.
Bitcoin has been on a tear as institutional investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates. Tesla Inc. poured $1 billion of its reserves into Bitcoin and began accepting it as payment for cars. Morgan Stanley is allowing some of its wealthiest clients to add the token to their portfolios, while firms from Mastercard Inc. to PayPal Inc. have taken steps to embrace Bitcoin.
Bitcoin advanced Monday after Grayscale Bitcoin Trust -- the world’s largest institutional holder of the cryptocurrency, with $34 billion under management -- said it plans to convert the trust to an exchange-traded fund.
Last week, Coinbase Global Inc., the largest U.S. cryptocurrency exchange, said it’s planning for its shares to start trading later this month on the Nasdaq following a direct listing.
The global crypto market cap is 1.98T, a 1.34% increase over the last day.Read less
The total crypto market volume over the last 24 hours is 125.55B, which makes a 20.79% decrease. The total volume in DeFi is currently 11.31B, 9.01% of the total crypto market 24-hour volume. The volume of all stable coins is now 95.87B, which is 76.36% of the total crypto market 24-hour volume.
Bitcoin's price is currently $58,385.32.
Bitcoin’s dominance is currently 54.96%, a decrease of 0.22% over the day.
Technical Analysis:
as we can see there exist a Hidden Bullish Divergence or Price Action with MACD indicators and Histograms, which is the sign of bullish trend Continuation.
there are total of 2 Targets of 2.5T USD and 3.15T USD consequently defined by Fibonacci Projection of the initial impulsive wave post the accumulation phase.
we may have a very smoot target achievements as Fundamental Analysis and sentimental of the markets consent with Technical Analysis.
as we can see it has followed the prediction up move, up to 2 Trillion Dollars.
fundamentals:
The total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand.
Bitcoin, the largest of the more than 6,600 coins tracked by CoinGecko, is worth more than $1 trillion alone after its price more than doubled in 2021 to $58,858. The five next biggest coins -- Ether, Binance Coin, Polkadot, Tether and Cardano -- have a combined value of about $422 billion.
Bitcoin has been on a tear as institutional investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates. Tesla Inc. poured $1 billion of its reserves into Bitcoin and began accepting it as payment for cars. Morgan Stanley is allowing some of its wealthiest clients to add the token to their portfolios, while firms from Mastercard Inc. to PayPal Inc. have taken steps to embrace Bitcoin.
Bitcoin advanced Monday after Grayscale Bitcoin Trust -- the world’s largest institutional holder of the cryptocurrency, with $34 billion under management -- said it plans to convert the trust to an exchange-traded fund.
Last week, Coinbase Global Inc., the largest U.S. cryptocurrency exchange, said it’s planning for its shares to start trading later this month on the Nasdaq following a direct listing.
The global crypto market cap is 1.98T, a 1.34% increase over the last day.Read less
The total crypto market volume over the last 24 hours is 125.55B, which makes a 20.79% decrease. The total volume in DeFi is currently 11.31B, 9.01% of the total crypto market 24-hour volume. The volume of all stable coins is now 95.87B, which is 76.36% of the total crypto market 24-hour volume.
Bitcoin's price is currently $58,385.32.
Bitcoin’s dominance is currently 54.96%, a decrease of 0.22% over the day.
Technical Analysis:
as we can see there exist a Hidden Bullish Divergence or Price Action with MACD indicators and Histograms, which is the sign of bullish trend Continuation.
there are total of 2 Targets of 2.5T USD and 3.15T USD consequently defined by Fibonacci Projection of the initial impulsive wave post the accumulation phase.
we may have a very smoot target achievements as Fundamental Analysis and sentimental of the markets consent with Technical Analysis.
Trade closed: target reached
1 TP achieved
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