Bitcoin, Crypto currency, Blockchain

Bitcoin and crypto market Momentum trend reversal in sight?

98ff74491bb2f2e6a5492cd5806d84eb - Bitcoin and crypto market Momentum trend reversal in sight?

It was already the beginning of a new bull market or just a short period of recovery for the crypto currency market? This is a question probably all crypto-investors. The fact is that this week, the best week for the entire crypto market since the first week of January, 2018.

Nevertheless, one should make from our point of view, no rash decisions. As the following Chart shows, in 2014 there was a similar Situation. The reversal of the trend at that time could not be made, the bear market is going to continue over a longer period of time.

A prediction of whether it will be different this Time, and whether the COP can dominate the crypto currency market is in our view not possible for anyone, as the market has become simply too unpredictable.

The fact is, however, that in the last week, pretty much the entire crypto-currency market in the green area. Within the Top 200 by market capitalisation, only four crypto-there are currencies in the negative area for the past seven days.

The long-awaited initial ignition, in order to defeat the bears, came on Thursday, the 12.04.2018, as the Bitcoin rate is increased within 45 minutes to about 15 percent. Within an hour, the trading volume of Bitcoin rose to a historic, unprecedented High of US $ 1.2 billion.

The reasons can be speculated only. At this point, we would like to give an Overview of the possible reasons. From our point of view, it is also very likely that not only a reason has led to the sudden, massive rate increase, but a variety of factors have played a role, which have influenced each other positively.

  • Major investor(s): A lot of presumption made is investment by a Super-Rich and big investor. As we reported in the last days, it has been found that both George Soros and the Rockefeller family to invest intend in Bitcoin and crypto-currencies.
  • At the end of the tax season in the United States: The Tax Season in the US ends every year in mid-April. With the end of this time window could be omitted, the assumption that the selling pressure and new investment into crypto currencies for a lot of investors will again be interesting.
  • Return of the positive Momentum: Perhaps many investors are waiting for the opportune Moment to get back into the crypto-market. With the sudden rise of a variety of “wait-and-see has” to invest investors with a possibility to be seen again, and trust in the market.
  • Trading Bots: another possible reason could be Trading Bots, the your share of the rally. With Reach a certain limit or by using specific Algorithms to automatically many Buy Orders may be triggered.
  • Bitcoin Shorts positions will be closed: As Forbes reported, and as market data show, made at Bitfinex buy orders for BTC-USA represented around 57% of the day until the afternoon. It came to a Short Squeeze, which means that rising prices have forced traders to close their Short positions.
  • Islamic scholar explains Bitcoin as a Sharia-compliant: another common theory in those days was that the publication of the Muslim scholars about the Bitcoin, the Muslim laws and the market for 1.6 billion Muslims was opened, responsible for the increase might be.

Like some of the comments in social media show, seems to be this theory to be only a half-truth. Many Muslims have stated that there are already since 2014 studies, the Muslims allow the possession and use of Bitcoin. Nevertheless, the publication could have been another reason. The Knowledge of it has found its way into the General Public and could, therefore, Muslims have to purchase it.

Probably the real reasons have generated in total, with the positive rumors, a positive Momentum to maintain it over the next few days and weeks, in order to create a long-term trend reversal. The total market capitalization is increased from € 270 billion to 324 billion US dollars and shows a slow upward trend.

The winner of the week*

Golem (+ 108%)*

Golem was able to in the past week, a rate increase of 108 percent . A Golem is currently traded for around 0.33 euros*. The driving force behind the price rise was, and is, certainly, the Launch of the first Beta Version of the Golem on the Ethereum Mainnet.

Golem (GNT) launches the Beta Version of the Ethereum Mainnet

Bytom (+ 73 Percent)*

Within the Top 30 by market capitalisation in Bytom is the biggest winner this week. In the case of a price increase of 73 percent in Bytom is traded currently for 0,73 Euro*.

On the one hand, Bytom, announce last week a partnership with the East Lake Big Data Exchange.

On the other hand, stands for today, 15.04. the “Bytom Algorithm Public Release” at mit in Boston. It will be the first Time to reveal the Details of the Tensority algorithm completely.

IOTA (+ 55%)*

The IOTA rate has risen in the past week by around 55 per cent*. A IOTA is traded to the editors of time for 1,26 Euro*.

A reason for the price increase could be the on Monday announced news that IOTA could mean a further well-known supporters in the IOTA Foundation. Dr. Rolf Werner is the European market, Fujitsu is responsible, directs all the business activities of Fujitsu in the DACH Region and is joined to the IOTA Foundation.

Furthermore, investors may have the General confidence in IOTA. In the past few months, IOTA was a crypto currency that could continuously make new partnerships (Bosch, VW, RWTH Aachen University), new supporters (Fujitsu) and new projects (IOTA Marketplace, Taipai City, Tokyo Metropolitan Government Program). Not least, it was also announced that IOTA is in the race for the development of the E-Krona in Sweden.

IOTA Foundation receives prominent growth of Fujitsu

OmiseGo (+ 50 Percent)*

OmiseGo could rise in the past 7 days by 50 percent. Of course for a OMG is currently at 11.33 euros.

In the past week, there was, in our view, no special event, which would justify the strong price increase. Rather, it is the sustainability and strength of the project in the long term, which was crucial, after this week, the entire market has recovered. OmiseGo counts, in our opinion, one of the best projects when it comes to the continuous and professional development of your project.

With the development of the Decentralized Exchange (DEX) could OmiseGo be a Central Element in the Ethereum network. Through the implementation of the scaling solution in the Plasma, which will allow it to process millions of transactions per second, OMG to offer this year, which is a powerful DEX, which supports withdrawal from the ETH and ERC20 – Token.

Outlook for the following week – KW 16

Also this week, we would like to inform our views about what data could be in the next week is important.

Verge

Verge is on 17. April (Tuesday) “the biggest deal of all time”, which is the largest partnership that has seen the crypto world has ever known. From our point of view, it will be exciting to see whether the partnership can be the extreme expectations of the investors who have provided for a substantial increase in the Verge of course in the last two weeks.

TRON

The Launch of the TRON Mainnets was announced and is believed to have been the 21.06.2018. On this day the Publick Blockchain is launched and the TRX-Token is used to TRX-Coin migrated. All further Details, we have summarized in this article:

TRON Project Genesis and Mainnet Launch announcement

Siacoin

Nebulous, the company behind Siacoin, as of tomorrow, the 16. April a Tokenised Security Offering (TSO) over 750 Siafonds to qualified investors. The Siafonds be sold in the Form of a Dutch auction (a kind of reverse auction). The auction is open for at least 24 hours and is closed at a random, unannounced time between the second and fifth day.

* The percentages are based on the time of writing

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