The cryptocurrency market digest (BTC, DOGE). Overview for 08.08.2022


At the beginning of the new week of August, the BTC is growing. This is good news: if the leading crypto remains stubborn and confident, it might escape the flat by the upper border. Now the BTC costs $23,787.

The task of the crypto sector for the nearest few days is securing above $25,000. Next, the US will issue an inflation report for July, and the quotes will start moving again. Will this "plan" come true is a big question because the crypto never goes up fast and smoothly nowadays. On the other hand, the fact that the BTC price has secured above $23,500 gives the bulls a certain advantage. An important resistance area for the BTC is still $24,000-$24,600. If the crypto successfully rises above it, a pathway to $25,000 might open.

The capitalisation of the crypto market is about $1.02 trillion. The BTC takes up 40.5%, the ETH — 18.9%. The fear index, compared to last week, has dropped. The complexity of BTC mining grew for the first time in two previous months.

Dogecoin: positions worsen

On the Top 10 list of cryptocurrencies the position of the meme Dogecoin worsened: it became number 11 with capitalisation of $9.37 billion, the Polcadot token taking its 10th place. Capitalisation of the coin is estimated at $9.77 billion.

Inflation in Chile makes USDT more popular

The Chileans take more and more interest in crypto, the USDT and USDC in particular. This is because prices in the country are growing: in June, inflation has grown to an almost 30-year high of 12.5%. Consumers are ready to put their savings in digital currencies to save them from depreciation.

India froze WazirX assets

Indian authorities have decided to freeze the assets of the crypto exchange WazirX belonging to Binance. The platform is suspected of facilitating money laundering. Now there are $8.16 billion of assets blocked.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.