Dec. 19 Mars Market Recap: BTC Continuous to Rise, a Callback may be Needed in a Short-Term; BCH Rebounded back to $100; EOS Dropped

Dec. 19 Mars Market Recap: BTC Continuous to Rise, a Callback may be Needed in a Short-Term; BCH Rebounded back to $100; EOS Dropped

Dec 19th 2018| Investment By:Mars Finance
A little more patience and learning is needed in the bear market.

Topic in Discussion

BTC continued to rise after a small callback, to a maximum of $3,894, and saw a strong momentum to break $4,000. It rose with volume at the 4-hour chart, and then volatiled with volume at lower level charts. The overall trend of the BTC is a little weak at the moment, so the aggressive trend was somewhat unexpected. Although there is no problem with the current technical indicators, undoubtedly, buying at a high price may bring about high risks and low returns.

Bear market is hard to come, although this gain has indicated the current bottom of $3,200, but bear market bottom stagnation stage has not really launched, the more you buy now, the more anxious you will be in the after-market. It is better to wait and see. A little more patience and learning is needed in the bear market. Anyway, the coins have been put in the market, if there is no return, buying or not has no much differences.

Market Overview

As of 6:00pm on December 19, according to CoinMarketCap data, the total market value of digital money market is $122.48 billion, up $10.43 billion from the total market value of yesterday, up 9.31% month-on-month. Total market turnover was $19.13 billion, up $1.36 billion from yesterday and up 7.67% month-on-month.

Today, the major stablecoins change as follows, USDT current price is $1.01, up 0.14%; among the other four stablecoins, GUSD rose 2.45% to $1.02. TUSD, USDC and PAX all declined slightly. TUSD remained at $1.02 and USDC and PAX remained at $1.01.

 

Mars Finance (WeChat: hxcj24h) monitored 91 of the top 100 digital currencies by market value, and 38 of them rose within the range of 5% to 10%. The 100 digital currencies rose an average of 7.67%. Stratis headed the growth rate of 57.73%, followed by MonaCoin growth rate of 55.71%. The stablecoin TenX, down 8.51%, was the worst performer, followed by QASH, down 1.23%.

 

Market Forecast

BTC

The trading volume of BTC continues to rise, and there is a continuous volume release market at small level charts with strong upward momentum. Currently, it breaks through the 30-day MA, but there is no strong support. The lower 5-day MA has not kept up with the rise of BTC, and it is likely to rebound after turning back on the 5-day MA slightly in the short term.

The 24-hour main net inflows is 530 million yuan, the retail net inflows is 780 million yuan, which showed a strong short side dominated.

 

EOS

After two days of rally, the main force of EOS was exhausted. A downward trend was formed under the pressure of strong resistance level of $2.8. EOS is likely to consolidate above $2.4 after a short-term fall.

The 24-hour main net inflows is 124 million yuan, the retail net outflows is 138 million yuan, which showed a strong short side dominated.

 

BCH

After two rounds of large pull-up since the early morning, BCH successfully rebounded from $90 to more than $110. A continuous volume increasing seen at small level charts and the trend moved along with BTC. Although MACD index was strong, it would fall slightly to $100, if it could not stablize above $110.

The 24-hour main net inflow is 2.6863 million yuan, the retail net outflow is 2.1385 million yuan, which showed a strong short dominated.

 

Industry Overview

As of 6pm, 26 out of 27 blockchain industry sectors of 5 classifications went up, according to TokenInsight. Among them, "decentralized exchanges" sector saw the best performance with an average increase of 34.35%, followed by "finance platforms" sector with an average increase of 4.35%. The "anchor and reserve" sector saw the worst average decline of 0.09%, followed by the "information and technology service platforms" sector with an average decline of 4.35%.