Hey Hiveans,@jaywasswa again here. I will be giving a periodic crypto market update using some of the few indicators I use in my fundamental and Technical analysis.
As some of you might know that crypto is still fairly young as compared to other asset classes,most of the indicators cannot be purely relied upon to make a concrete decision to enter a trade or make an investment decision.
Let's get to it.
One of my biggest indicators for the whole crypto industry is bitcoin. As the grandfather,the state of bitcoin decides alot about all other crypto.(will explain more in my subsequent blogs)#bitcoin at $22,991
#ethereum at $1,621
As the top #altcoin and the biggest ecosystem in crypto space, it's state decides alot for other cryptocurrencies (total 3).
Fear and Greed at 31
We use this to measure the general market sentiment for the bitcoin market. The higher the sentiment,the more favourable it is to buy bitcoin especially for the retailers and vice versa.
And lastly for today;
Apparently it is at 39.62% (we will go in details of this some other time)#bitcoin dominance (Btc.D)
[source:] binance
I will stop here for now but the market is still experiencing 'a relief bounce' from the recent swing lows.
Bitcoin experienced -1.5% lows and Ethereum -3.2% in the last 24h
Note: this is not financial advise,#dyor
-prices were quoted from [coingecko]
Thanks for the update. Sure hope to learn more analysis strategies from you