Top-5 Cryptos This Week: ATOM, TRX, ADA, EOS, XMR

A few of the top performers of the past seven days are showing strength. This suggests that select cryptocurrencies can offer buying opportunities.

This is the second year in a row that November has turned out to be the worst month for Bitcoin (BTC) of the year.

In 2018, Bitcoin’s price had plunged 36.18%. While this year, the decline has been 17.51%. However, December is an important month to watch out for. Since 2015, Bitcoin has moved more than 30% in December. If history were to repeat itself, traders should buckle up for some violent moves in this month.

At least five Chinese cryptocurrency exchanges have halted or terminated operations in November. This is the latest crackdown on crypto trading in China since it banned users from buying cryptocurrencies with fiat money back in September 2017.

According to data from Chainalysis, the Asia-Pacific region, dominated by China, still has about 20 of the 50 top global crypto exchanges. These exchanges accounted for about 40% of Bitcoin transactions in the first half of the year. Hence, the crypto markets react sharply to any major announcement coming out of China.

Crypto market data weekly view. Source: Coin360

Crypto market data weekly view. Source: Coin360

While the rise and fall of cryptocurrencies will continue to hog the limelight, we should also keep an eye on the benefits of blockchain technology for society.

A study by Juniper Research shows that the food industry will benefit immensely by using blockchain in conjunction with Internet of Things (IoT) sensors and trackers. This move can result in food fraud savings of up to $31 billion within the next five years.

Can the crypto markets stage a recovery in the final month of the year? What do the charts of the top performers of the past seven days project? Let’s find out.

ATOM/USD

Cosmos (ATOM) has seen huge gains in the past seven days with a 19% rally. During the week, the community approved the Cosmos hub 3 upgrade, which is…

Source Link