Market Review. Results of the Day. Collapse. 02/01/2018

February 2, 2018


News review:

  • John McAfee blames Indian financial regulators for the latest crypto collapse. 
  • News about a ban of bitcoin in India turned out to be fake. At the moment, bitcoin fell by $4,000.
  • Indian government does not recognize cryptocurrencies as legal tender.
  • South Korea will not ban cryptocurrency trading. 
  • Nicholas Maduro signed El Petro white paper.
  • Taipei to build a "smart city" on IOTA blockchain. 
  • Sales of KodakCoin are postponed.

Changes (24h):

BTC $8,940

ETH $1,038

XRP $0.95278

BCH $1,274.10

BTC is continuing to decline. Not only its price, but trading volumes are also falling. Amount of transactions also lowered. Bitcoin becomes less interesting for investors. Trading volumes on exchanges are also lowering, however they become higher when the price falls. 


Technical analysis.

Support levels of most of the main cryptocurrencies are broken down. Falls can intensify and cause a full-fledged collapse at any time. ETH is stronger than the rest of the market, however it is unlikely that it would withstand the collapse of the market. Do not rush with buying with this trend. 

BTC chart. Logarithmic scale.

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