Crypto News

Delphi Digital: too early to talk about the turn of the market of air

For many captainvalor the Ethereum long been considered the only real rival to bitcoin that deserves any attention.

The growth of air by more than 10% compared to the price of bitcoin on Tuesday was reflected in the last weekly report of the research company Delphi Digital, which covers bitcoin, ether and the cryptocurrency market in General. The report noted that the recent jump in prices of air does not necessarily mean that the market is waiting for the reversal.

In the report Delphi Digital, it is noted that this year bitcoin has proved much better than almost all other scriptactive, with the exception of Binance Coin (BNB) and Chainlink (LINK). LINK with the beginning of the year increased by 800% relative to the U.S. dollar, although since then the token has returned to its more realistic estimates.

According to analysts, global economic processes (devaluation of the Chinese yuan and a potential devaluation of the other major Fiat currencies) resulted in a renewed interest in bitcoin this year as a decentralized, apolitical alternative to traditional financial assets. “It is not surprising that the ether also significantly increased in price with bitcoin this year — just over 50% compared to 170% profitability of bitcoin year to date (in dollars)”, — stated in the report.

But in the end, the price of ether has fallen to levels not seen since March of 2017, although Aldon increased by 25% relative to bitcoin since the fall of the 7th of September. Tuesday’s broadcast showed the largest daily increase against bitcoin from the end of 2018.

“However, it is still too early to say whether the growth of the ether this week, the beginning of a new trend or just another short-term rebound,” the report says. “The MACD on the daily chart ETH/BTC has moved into positive territory after a bullish crossing last week, although it is possible that it is long. The 14-day RSI has also broken above the 70 level for the first time since February, but given the other key indicators we should see a continuation of the trend before you make any optimistic forecasts”.

Source:coinspot.io

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