Last week was memorable for the incredible optimism from the point of view of the dynamics of the assets of the cryptocurrency market. Pre-Christmas growth contributed to an increase in market capitalization for the week by $ 31 billion: from $ 103 billion to $134 billion Maximum of the week fell on Friday, December 21 and amounted to $137 billion.
Naturally, against the background of the market capitalization recovery, the share of Bitcoin has significantly decreased from 55% to 51%.
This time, all the coins from the TOP 20 recorded an increase in price dynamics for the period of last week. The absolute leader was Bitcoin Cash (BCH), which added 126% for the week. ВСН with a capitalization of $ 3.7 billion confidently takes the 4th place in the rating of coinmarketcap, bypassing the EOS. However, this is still almost 2 times less than the capitalization of BCH at the time of the hard fork on November 15, which caused another collapse of the entire market.
Dynamics BCH for a week
Thanks to a more rapid growth in the week, EOS managed to get around in the stellar capitalization rating. EOS is currently ranked 5th in the coinmarketcap ranking. XRP also strengthened its position. Last week brought XRP good news that a large FINTECH company from Israel will soon become a Ripple partner. Israeli GMT provides a wide range of financial services and has more than 250 branches.
Among the coins with capitalization from $100 million to $1 billion, the largest growth of 131.9% was demonstrated by the Stratis token. The reason for this explosive growth was the announcement of the next updates of the Stratis platform.
From the negative news, which, however, has not yet affected the dynamics of the market, we can highlight the news about the possible postponement of the launch of the bakkt crypto-exchange. The ICE exchange operator has not yet received permission from the us commodity futures trading Commission (CFTC) to hold client assets on its side. The process of consideration of the issue will obviously be delayed, and the launch will most likely not take place on January 24, as stated earlier.
If we talk about Bitcoin, the flagship of the market has added about 28% over the past seven days. The price increase is accompanied by another fall in the complexity of the network. So, from 18 to 19 December, the complexity fell by 9.5%, and in the last month and at all by 23%.
However, Bitcoin managed to break through the psychological level in the area of 4000 last week. At the moment, the asset is trying to cross and gain a foothold above the exponential moving average EMA 200 on the four-hour chart. In case of a successful breakout, the next resistance level will be 4400, which corresponds to the Fibo level of 38.2% of the last down pulse. Otherwise, a rebound from the current prices and consolidation below 4000 will contribute to a downward correction, which will look more preferable against the background of rapid growth over the past week.