Crypto capital market in red, despite the Facebook news
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Crypto capital market in red, despite the Facebook news

By Federico Izzi - 27 Jun 2018

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Crypto capital market sees negative signs for 95% of the first 100 cryptos. The social network’s decision to remove the advertising ban is useless. 

Crypto capital market in red, despite the Facebook news. Leggi qui l’articolo in Italiano.

The fall in volumes is once again dragging the entire sector down. The Old Continent wakes up seeing red for 95% of the first 100 cryptocurrencies.

Total capitalisation loses more than 5% in value reaching below $250 billion, close to Sunday’s levels when it reached its lowest level since last December.

Scrolling the list you have to slide to 19th position to find the first green sign of Qtum (QTUM) with a rise above 7%. The team from Singapore with its cryptocurrency that saw the light in May ’17, announced a few hours ago a step forward for its technology to make interoperable the blockchains of bitcoin and ethereum.

Many cryptos are in sharp decline. Among the worst, most famous, there are: Eos (EOS), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Stellar Lumens (XLM) and Tron (TRX), with falls of more than 6%.

Markets are still in check, with the Bear not intimidated by the good news coming from Facebook.

The big social network has decided to revise its policy on ads related to the cryptographic sector. In the next few hours, it will again be possible to advertise services of companies in the sector (e.g. exchanges) that demonstrate solidity and transparency in their activities.

The ban on advertising for the launch of new ICOs, on the other hand, remains in place.

Source: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

Despite the return of weakness and the fall in prices in recent hours, bitcoin proves to be the best to counter the sales.

In the top 30 of the list, along with Monero (XRM), it did not fall more than 2%.   

The rebound that in a day, between Sunday and Monday, has recovered 10% and the 6000 dollars threshold has found an important barrier between the 6250 and the 6300 dollars that rejected the pullback.

In the coming hours, it will be important to assess the resilience of the support and any consolidation above the weekend lows.

Source: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

The second cryptocurrency falls again, with a decrease of more than 6%. A drop that makes us fear about the tightness of Sunday’s low.

Prices are still far from the lows of early April (about 15%), but the short trend should give signs of strength otherwise the projections for the next few days will update the lows of the current weekly cycle.

Technically, the medium/long-term structure remains decidedly on a downward trend, while in the medium term, if the lows of early April are not revised in the coming weeks, the hope of a good recovery in line with the start of the new monthly cycle will materialize.

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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