Crypto market trends 12-18.07
This week turned out to be very controversial for the crypto community. Amid the massive tightening of regular measures in China, the Italian "squabble" with Binance and the big step by the ECB to launch the crypto-Euro, the digital money market seems to remain half asleep, dominated by bearish sentiment.
What time is it? Time to buy BTC
This is exactly what Lex Moskovski, the investment director of Moskovski Capital, thinks. He backed up his claim with a tweet including a stock-to-flow model. It clearly shows that the ratio of currency reserves to price growth is currently the lowest in the entire history of Bitcoin.
In fact, now is the most opportune moment to buy crypto gold.
However, so far there has been no bullish activity in the BTC/USD trading pair. The main crypt is trying hard to reach strong support at $32 000, but low volatility at the end of the week and a strictly bear market keep it at $31 250.
Powerful bearish momentum for Ethereum crash
This week has not been the best for crypto silver too. Analysis of Ethereum prices indicates the dominance of bears, pushing the asset price to a new low. The currency was trading in the $1853.59 — $1959.70 range with moderate volatility on the 24-hour ETH/USD chart, its next pivot point should be the $1725 position, which was last tested on June 26.
The projected minimum may be reached on July 16, as evidenced by the decrease in the daily trading volume by 4.3% to $15.1 billion.
Discovery of the Week: Axie Infinity Shards Coin (AXS)
It is a notable token for the popular blockchain game Axie Infinity. This week, it literally jumped from $13 to $27, and its capitalization over the past 24 hours has increased by $1 billion. Thus, the total capitalization of the new coin at the moment is $ 7.6 billion.
However, the price of AXS is closely tied to the excitement of the game's fan community, so experts are rather cautious in predicting its "bright" future.