CV Market Watch™: Weekly Crypto Trading Overview (September 20-27, 2019)
Bitcoin (BTC) headed down at the end of September, crashing through the $8,000 level.
Bitcoin (BTC) abandoned the relative stability, with a double crash this past week. First BTC burrowed under the $8,500 tier, then in another crash ahead of the weekend went as low as $7,800.
Bitcoin (BTC) crashed through several levels, for now bottoming out above $7,800. BTC traded at $8,035.56 ahead of the weekend, showing uncertainty and fluctuations.
The share of Tether (USDT) remained around 65%, as the stablecoin volumes remained higher than those of BTC. BTC dominated 68% of the entire market capitalization for crypto assets, while taking up less than 30% of trades.
Ethereum (ETH) encouraged the markets with a peak near $220, but later crashed by more than 31%, down to $165.53. ETH caused minor liquidations in the decentralized finance (DeFi) space, as Maker collaterals were sold based on predetermined volatility restrictions.
XRP (XRP) sank to $0.23 as altcoins once again lost support, returning to the levels before its recent rally.
Bitcoin Cash (BCH) fell to $215.66, still keeping its top position, though ceding the fourth spot to the dollar-pegged USDT.
Litecoin (LTC) crashed to $55.02, already down by half since the halving of the block reward, as the asset slowly deflates with no signs of an altcoin season.
EOS (EOS) fell to $2.80, despite the successful hard fork to speed up transactions.
Binance Coin (BNB) is at $15.19, down more than 29% in the past week, despite the launch on Binance.US.
Bitcoin SV (BSV) is down to $83.80, losing more than 32% in the past two corrections this week.
Stellar (XLM) broke up the ranks, trading at $0.058, with a loss of 22% after the recent crashes.
Unus Sed Leo (LEO) remains suspiciously flat at $1.04, suggestive of concerted price protection.
Cardano (ADA) crashed to $0.038, following the downward trend for altcoins.
Monero (XMR) was hurt by a series of delistings, sinking from the level above $70 down to $57.01, wiping out 75% this past week.
TRON (TRX) moved down to $0.012, continuing its downward spiral.
Huobi Token (HT) crashed to $3.70, down 25% this week, though remaining relatively robust.
IOTA (MIOTA) moved up the ranks and even added to its price, retaining the $0.26 level.
DASH (DASH) lost more than 30% this week following delistings from major exchanges, sinking to $68.03, further from the triple-digit prices.
Chainlink (LINK) survived with just 11% in weekly losses, down to $1.61, and displaced other assets from the ranks.
Tezos (XTZ) crashed to $0.84, losing support along with other altcoins.
Ethereum Classic (ETC) fell to $4.60, losing 25%, the usual level of correction for altcoins.
NEO (NEO) is also down by 25%, to $7.14.
Altcoin markets saw shifts in rankings, while digging down deeper in the most recent correction. Altcoins wiped out roughly 25-30% of their value, following the sudden weakness of BTC.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.