Correction is brewing on cryptomarket

April 2, 2019   Bitcoin

Cryptocurrency assets started a new trading week with a slight increase. Bitcoin has reached resistance of 4,150 dollars, Ethereum has strengthened to the level of 142 dollars, and the price of XRP rose to the level of 0.3130.

The main cryptocurrencies on Tuesday sharply jumped to the top within the framework of a long-overdue correction on the market, while ignoring even the negative news. According to Libertex, the rate of Bitcoin at 10.00 per day jumped 13% to 4,710 dollars with a capitalization of 82.4 billion dollars. Ethereum by this time increased in price by 6.19% - up to $ 150.3, its capitalization reached $ 15.9 billion. XRP for the day went up by 5.18% - to $ 0.328, its capitalization amounted to 13.7 billion dollars. Litecoin added 10.67% immediately and jumped to 67.4 dollars with a capitalization of 4.1 billion dollars.

In the first quarter of 2019, Bitcoin grew by almost 11%, and this was the best indicator since the end of 2017. The nearest strong Bitcoin resistance is located at around $ 4200, and the breakthrough is still questionable. If the price can not overcome this level, then a rollback to the supports of 3800 and 3700 dollars is possible. Litecoin became the growth leader among the main cryptocurrencies, he added almost 100% in the first quarter of 2019.

At the same time, the crypto shop ignored the news that the large digital trading platform Bithumb was hacked by hackers again, stealing a cryptocurrency worth $ 19 million. Last year, due to a hacker attack, the stock exchange lost $ 31 million. In addition, the Indian cryptoexchange Coindelta announced the cessation of work due to the unfavorable administrative climate in the country.

As financial scouts believe, on the crypto market, there is now a need for corrective growth to a protracted rather deep fall. In their opinion, the rate of Bitcoin in the short term can be strengthened to $ 5,000. And in our forecast for today's trading, we expect Bitcoin to grow further to 4170, 4200 and 4230 dollars. Ethereum - up to $ 155, XRP - up to $ 0.35, and Litecoin - up to $ 70.

The largest cryptocurrency exchange Binance revealed the details of the next tokensale project Matic Network on Launchpad on April 24th. The sale of tokens will be held in a lottery format. 1.9 billion tokens will be distributed via Launchpad, which is 19% of the total. The initial price is set at 0.00263 dollars, payment will be accepted in Binance Coin.

This method of raising capital is called Initial Exchange offering, it gradually begins to crowd out the traditional ICO. In the first quarter of 2019, ICO projects attracted only $ 118 million, which is 58 times less than last year. Investors fear the actions of regulators in respect of projects that do not meet the requirements. In addition, the depreciation of the cryptocurrency led to a drop in interest in the new ICO and tokens.

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