Market Analysis Report: Continued weakening of the market will lead to pessimism

Previous review

BTC: Although the BTC price has a certain rebound demand, it will continue the downward trend and further test the support of the $8,000 support level. BTC rebounded to a maximum of $11,000, up nearly 15% from the closing price on July 17, and the current BTC price is back below $10,000.

ETH: There is no significant change in the downward trend of ETH. It is necessary to pay attention to changes in volume, and the price will test the support of the $160 support range. ETH rose to a maximum of $235, up only 10% from the closing price on July 17. It is currently in a sideways volatility.

EOS: EOS should focus on avoiding transactions. The strength of the empty side is too strong, and the decline is large. There is a possibility of oversold rebound near the support range. But for now, the downtrend has not changed. EOS rose as much as $4.7, up 17.5% from the closing price on July 17.

Current report

As of the publication of the report (July 26, 2019), the total market value of global digital currency assets this Friday was US$ 268.945 billion, a year-on-year decrease of US$ 17.32 billion, a decrease of 6.05%. The 24-hour market turnover was US$48.877 billion, a year-on-year decrease of US$29.12 billion, a decrease of 37.33%. The market capitalization and 24-hour turnover were in a double-down state, and the market value was in a slight decline, continuing the downward trend, and the turnover was greatly reduced. It shows that the market funds are gradually entering a calm, in a wait-and-see state, waiting for the market to give a clearer direction signal.

Source: Standard Consensus, CoinMarketCap

According to the standard consensus sentiment index, the current market sentiment is good, the latest index is 1.21, and the turnover has shrunk to a large extent, indicating that the market funds are in a wait-and-see state, and the market is in a state of intra-bank capital game. The market's various trading varieties are mixed, and if the trading volume continues to languish, it will trigger investor pessimism. At the same time, according to the ratio of bitcoin to total market capitalization, the market value of bitcoin has declined, down 1.3% year-on-year, but still around 65%. The market value of other currencies has increased by a certain amount, up 0.9% year-on-year. In the case of a market volatility decline, the BTC market share still accounts for the majority of the market capitalization, but the market value of other currencies has increased, indicating that although some funds are withdrawn from BTC and transferred to other currencies for trading, BTC is still The barometer of the market's ups and downs has clear direction guidance for the market.

Source: Standard Consensus Emotion Index , CoinMarketCap

According to the standard consensus halving countdown index, the current block height of BTC is 587,039, and there are still 294 days from the next halving. It will take some time for BTC to achieve a halving of expectations. However, investors should pay attention to the halving of BTC. When the next halving approach, BTC prices will once again enter a fast-rising cycle.

Source: BTC production minus half countdown

Review and analysis of the trend of BTC, ETH and TRX

According to CoinMarketCap data, BTC's average daily turnover rate was 9.78%, which was 5.10% lower than the average daily turnover rate in three months, and 2.89% lower than the average daily turnover rate in the previous week. The average daily turnover rate of BTC this week has once again declined to a large extent, the market capitalization desire to enter the market has decreased, and the overall funds are mainly outflows. At present, BTC prices are in a downward channel and will continue to fall under pressure. At present, the pressure level of BTC is at $10,000, and the price is generally in the process of shrinking. The downtrend will continue in the short term, with a high probability of falling to test the $8,000 support platform.

According to CoinMarketCap data, ETH's average daily turnover rate was 29.96%, which was 5.64% lower than the average daily turnover rate in three months, and 5.50% lower than the average daily turnover rate last week. ETH performance is relatively weak. In the overall market oversold rebound, ETH prices are mainly dominated by fluctuations within the range. ETH is also continuing to slump in terms of turnover, and liquidity is gradually weakening. The price of ETH is currently oscillating within the range, but the high point is gradually moving downwards, and the probability of falling below $200 is gradually increasing.

According to CoinMarketCap data, TRX's average daily turnover rate was 39.10%, which was 1.87% lower than the average daily turnover rate in three months, and 5.86% higher than the average daily turnover rate in the previous week. TRX has a huge amplitude this week, and the price fluctuates significantly. It quickly rises after the crash. This is mainly due to various news of the wavelength founder Sun Yuchen. TRX has shied away from trading, and the current rise and fall of TRX is greatly affected by the news. In the course of the transaction, there was a news in the opposite direction, which caused a large loss, but the overall trend of TRX is still a downward trend with a support range around $0.02.