Market report

FINALLY, A PEACEFUL DAY FOR THE CRYPTO MARKETS

London Block Exchange

20th March 2018

Prices kept rising 6% across the top 100 projects with some 40% winners

FINALLY, A PEACEFUL DAY FOR THE CRYPTO MARKETS

Prices kept rising 6% across the top 100 projects with some 40% winners

It was a rather calm Monday in the crypto markets, with some positive news, no coordinated dumps, and the average alts were slowly coming back to life. The top 100 projects appreciated 6% against bitcoin, however, QTUM managed to pull a 40% return.

QTUM (pronounced quantum) is a Singapore-based blockchain founded in 2016, which combines a fork of Bitcoin with a software layer that enables virtual machines to run — including the Ethereum Virtual Machine, allowing it to use smart contracts.

It’s a popular and seemingly legitimate project, now ranked 18th on CoinMarketCap, although its beginning was marred in controversy. It increased in value as Binance promoted a trading competition to reward the highest volume players — so let’s see how it next performs.

SENTIMENT KEEPS CHANGING

Have we hit the bottom of the downtide yet or are we bullish again?

It’s hard to predict the state of the market for the following days as sentiment is mostly neutral, with plenty of bulls and bears on CryptoTwitter. Nevertheless, some risk saying one could trade solely based on social media sentiment.

However, caution is needed, as it’s also common to rely on crypto communities, which contain both the crypto-educated and non-educated. Following other peoples’ trades can be lethal. So, what’s next for the following days?

One of the most important events of the month is taking place on Friday, the 30th of March — the settlement date for OKEX futures contracts, a date traditionally associated with a change between bull and bear trends, however, it seems the rollover has already begun this week. As we are at the bottom of the revised log channel for bitcoin, could this mean we won’t see such low prices again?

Maybe, but before the trend changes, watch out for any manipulative attempts. Yesterday, rumours that the Mt. Gox whale, which many thought had caused the bear market, but in reality might not have had such an impact — had transferred 3000 BTC to Bittrex; possibly, a false claim!

WHAT TO LOOK OUT FOR

Filter the noise and stay ahead of the pack

If technical analysis (TA) is of interest to you, check out Darpal Rating’s latest Code Audit, which analyses 133 crypto projects’ GitHub repositories. However, with Cardano in 3rd, Ethereum in 5th, and Bitcoin in 7th place, we are unsure if Darpal will ever reach their goal of “becoming the Moody’s” of cryptoassets.

If your preferred approach to fundamental analysis is to meet the teams behind a project, don’t miss the next crypto meetup in town — Streamr’s London Community — tomorrow, Wednesday, by 18:00 GMT at Runway East Shoreditch.

If you have always felt virtuous then great cryptoasset conferences are what you should look out for. Token 2049 has started today in Hong Kong featuring some top speakers from Civic, Placeholder Capital, Blockchain Capital, Lisk, Gnosis, Wanchain, Kyber, NEO, block.one, Golem, Cindicator, and ConsenSys. Follow them on Twitter.

WHAT TO READ TODAY

An insight a day could give you more profits to play

The US Congress released its 2018 ‘Joint Economic Report’ and has an entire chapter on blockchain and cryptoassets. Jump right to page 201 or read a good overview of themore positive remarks here.

Back in February we shared an introductory guide on how “Security Token Offerings will revolutionize the traditional finance world”. Perhaps, Kevin O’Leary, the popular ‘shark’, read it and announced the first STO for a NYC hotel on CNBC. Video can be found here.

Have you been trying to use TradingView, a popular charting tool, without success?Here are five useful tips to improve your experience. We were amazed when we discovered you could adjust the visibility of drawings to specific time-frames!

  • bitcoin
  • QTUM
  • ethereum
  • coinmarketcap
  • OKEX
  • Futures
  • coindesk
  • CNBC