Overview of the cryptocurrency market to august 2. Results of the week
The cryptocurrency market managed to firmly consolidate during the past seven days. Market players invested about $20 billion at last time. The volumes for buying BTC were below the average moving average. It means that the digital coin market showed a smooth and steady growth, which reduces the likelihood of speculation by large players and traders. No prerequisites for the weakening of the strengthening of cryptocurrency market are yet to be seen.
We talked about the possible consolidation of a falling market and the rapid rise of altcoins in the previous review. This is exactly how the digital market behaved this week. BTC is still continues to be in the corridor $8 300 - $6 200 and feels pretty confident in it. Traders are ready to give $7 229 for the main digital currency, a week-on-year increase of 8,9%. Ethereum and Ripple also didn't show a phenomenal rise in the past 7 days. The growth of coins was 9% and 7% respectively. The other altcoins have risen in price much more. BTC Cash grew by 25%, EOS by 33%, Lightcoin by 17%, IOTA by 40%. The daily trading level reached $3 billion, the BTC domination index dropped to 52%.