According to yesterday’s sentiment analysis, the global market turning green affected all the prices favorably and everyone was bullish. Almost all coins were gaining momentum and were returning to their bullish mode. The respondents of yesterday’s analysis had stated about their anxious wait for 24 hours to check for a bearish drop and although prices didn’t drop there was no bullish momentum either.
This segment is an extension of the cryptocurrency market’s opinions. The point of view of several investors, miners, market analysts, journalists, skeptics, and influencers are taken into account and a market perspective is portrayed.
With yesterday’s Bitcoin price rise from $7,390 to $8,336, the market tension has eased slightly. The day began with Bitcoin’s price at $8,596. With a market capitalization of $144 billion, Bitcoin is currently trading at $8554 with an increased rate of 2.03% in the past 24 hours.
Satish Mehra, an investment banker from New Delhi says:
“The five week low was disheartening. When I went to sleep the price was somewhere around $8200 and when I woke up it was around $8300, I haven’t seen this kind of stability for quite some time now. If this stability persists, an upcoming bull run is for sure!”
Kevin Berman, an employee from Royal Dutch Shell says:
“My brother invested $25,000. I was like ‘Fuck this shit! You’ll only lose’. He didn’t listen to me and kept trust in the market. Although Bitcoin gained yesterday, it hasn’t gone up today, should come down again looking at the history in the past two months. My brother is a fool, don’t be him. Be like Kevin.”
Nick Johnson, a Bitcoin miner from Johannesburg says,
“Really expected a big climb to $9K today. The day is still young and is still possible. If it doesn’t then we are still bearish I would say. There is a very high possibility of us breaking upwards to the 11k zone again but with its recent history I’m not so sure”
In conclusion, contrasting to yesterday’s opinions, a major 62% of the respondents feel that if momentum doesn’t kick in today then we could be in for a long haul in around the same prize zone. The other 38% feel that it’s a good thing that Bitcoin is consolidating at this price range before a breakout again.
Ethereum at press time was trading at $538, a minor change of -0.12% in the past 24 hours with a market capitalization of $52 billion. Ethereum dropped to $450 just two days ago before climbing up again to above $500. There were multiple reasons cited by the community for the drop including people blaming the alleged EOS Eth dump and the possibility of other ICOs dumping.
David Gruber, a Mathematician and a cryptographer says,
“It is highly likely that yesterday’s EOS situation was true. If so and if the big folks who actually raised a ton of ETH will start dumping then that is just the tip of the iceberg. We could possibly see new lows for ETH. I believe the next 24 hours is bearish despite what the market says”
Abhijeet Heblikar, the Head of Sales at a Bennett Coleman group company has a different opinion,
“I think people who spread ‘ICOs dumping ETH’ story are basically trying to suppress to the market and push it to new lows. I’m sure we have huge whales waiting at the low 400s to pounce and buy some cheap ETH. I don’t think it will break lower than 500 dollars. We should be pushing upwards now”
Jeremy Walworth, an Ethereum investor from Brisbane says,
“Yesterday’s come back reminded me of the December highs and felt we could hit 600 again. Looks like the momentum didn’t continue today. The buyers are tired, there is no follow through, we could possibly see it grazing $500 again today. The next two days should be boring, nothing really will happen”
In conclusion, Ethereum respondents felt that the markets should have taken off today and the lack of it makes the market look weak. A good 62% feel that the markets could be red for the next 24 hours while the rest feel there would be no action for the next 24 hours.
Litecoin is currently trading at $159 to a token with a market cap of $8 billion. Just a week ago Litecoin had announced an upgrade which had a temporary effect on the prices.
Matthew Chacko, an entrepreneur from Dubai says,
“Litecoin is the most undervalued currency right now. Underdog and a sleeping giant. Litecoin couldn’t possibly do anything outrageous, it has always followed BTC prices and will continue to do so in the foreseeable future. LTC will always be the Vegeta to BTC’s Goku”
Frank Davidov, a portfolio manager at Brenton Crypto Financials says,
“Litecoin is a token that has many of my clients intrigued. The crypto spectacle since January has died down and although there is still some drama, very few takers of Bitcoin. Litecoin, NEO, Nano, Tron are some tokens which have increased interest. Once the bears are out we should seem breakouts like we saw with Qtum.”
In conclusion, although there was a huge support for the possibilities of LTC, most respondents seemed uncertain of Litecoin’s price and believe it is heavily reliant on Bitcoin’s performance. Only a 12% of the respondents felt Litecoin could break the Bitcoin pattern and breakthrough.
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