Lately, I've been following the Market Cap chart. I think we have some new data that should be remarked. On May 6, 2017, the total Market Cap was about 45 billion dollars. Today, after a year, the total Market Cap is $ 469 billion. More specifically, an increase of ten times. Let's not forget that on January 7, 2018, there was a maximum market cap of $ 828 billion.
For example, you have an image below. It seems that Market Cap's bottom point was this year on April 1 and was $ 245 billion.
What do all these data tell us? As you can see on the image in the $ 500 billion area, there is a potential area of resistance. Let's not forget that the $ 500 billion figure is a psychological area (round number). Besides this, the previous maximum (after declining market) is 500 billion dollars.
A break up of the $ 500 billion area will be a powerful signal for many investors.
Exceeding this value and maintaining this value will create the premise for a climb to the previous ATH of $ 828 billion. Will this happen? Undoubtedly, the 500 billion dollar resistance area will be overcome. I doubt there will be an upward break up without first having a correction.
Of course, overtaking this area and climbing to the previous ATH from $ 828 billion will mean, implicitly, an increase in current prices across the entire Crypto Market.
I still think do I need to invest more in Steem?
The decision belongs to you of course. If Market Cap exceeds $ 500 billion, the premise for new highs is created. Buy only on falls.
This is good news for steemit.I hope steemit will be first rank of weiss raiting.tnx for your good information.@mihaisyblu
This is good news for both Steemit and the entire Crypto Market.
That's a great project..
And discuss about crypto currency and carry on my dear..
Thank you. I will continue.
The matter is very complicated but the thing I want to understand is that. I need help. you can help me?
I am sorry. I do not know how I could help you unless you have basic knowledge in Crypto Market. Market Capitalization is a very important indicator of the money coming in or out of the Crypto Market.
it's very essential information about cryptocurrency. great your analysis.
keep it up.
great post awesome price analysis waiting for next your post
keep it up bro
Glad to hear someone mentioning the strong likelihood of the current markets having a correction before making another move.
In this crazy world of Crypto Market, I try to keep my objectivity.
in 2020 steemit will become a popular social media platform in the world
hy, i am in trouble i upload more than 400 posts but i am earning nothing plzz check my account and see what i am doing wrong and give me some advise
thankyou:)
Thanks for sharing the valuable information friend👍Always look forward to yr posts👊🏽
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thanks for your information about crypto this important post every steemenian