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Bitcoin (BTC) Ethereum (ETH) Price Analysis: Judgment Day - Global Coin Report
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Bitcoin (BTC) Ethereum (ETH) Price Analysis: Judgment Day

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Ethereum
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As the reader will likely be no doubt aware, the broad cryptocurrency complex has been up and down the hill and valley characterizing a potential bottom or a potential bear market bounce of dubious meaning over the past month.

Now, we have come to a critical moment of judgment.

Today, we will take a close look at the charts for Bitcoin (BTC) and Ethereum (ETH), gauging their relative position in the course of this adventure from the standpoint of an objective technical analyst. Our goal, as always, is to provide an unbiased and empirical analytic edge to augment your perspective.

Bitcoin (BTC)

Price Analysis

  • High: $7143.6
  • Low: $6938.9
  • 24-Hour Volume: $3.71B
  • 7-day Percent Change: -12.5%

Chart courtesy of tradingview.com

Bitcoin (BTC) has no doubt been the leader for the large market cap coins during the past month of significantly more promising action for those with exposure to that space.

However, over the weekend, we saw a clear dive to shake out the weak hands involved in the bounce, and trigger some very important tests of support. Chief among these tests, we currently see a very live and very current battle for the crucial 50-day simple moving average.

At this point, while support has been holding – and support that includes the $7000 level – we’re hardly out of the woods yet.

First off, the hourly MACD is already rising above the bullish inflection threshold with a histogram reading in “full bull mode”. However, this is a divergence, as Bitcoin (BTC) has barely bounced at all. Generally speaking, this is a bit of a warning sign, though not a conclusive one. In fact, we would prefer to see a bounce like this still registering somewhat oversold levels on oscillators.

In other words, the oscillators can function as something like a turbo boost for the bounce. However, with the bounce just in its infancy, we already have that turbo boost engaged. It would be better if that boost were still in the chart’s “pocket”, as it were.

The first important test on the upside will be at the $7250 level, which could come up on us pretty quickly.

Ethereum (ETH)

Price Analysis

  • High: $413.4
  • Low: $406.09
  • 24-Hour Volume: $1.38B
  • 7-day Percent Change: -10.89%

Chart courtesy of tradingview.com

As we noted in our recent analysis, Ethereum (ETH) has been sharply underperforming many of the other large market cap coins in recent action, at least relative to its positioning on the charts in late June.

In fact, Ethereum (ETH) is already undercutting the June lows, despite Bitcoin (BTC) remaining well above those same relative levels on the charts.

Classically, for the space as a whole, we would far prefer to see the leading edge technology solution – and frankly we see that as Ethereum (ETH) rather than Bitcoin (BTC) – leading the way over the course of the bounce that longs certainly hope represents a more important bullish inflection in the overall cyclical ebb and flow on the charts.

At this point, Ethereum (ETH) is finding strong support at the $400 level, and it could be interesting from an oscillator standpoint. First off, if we were to move higher from here, we would have in place a clear and almost striking bullish divergence where the 14-day RSI measure is concerned.

In addition, as the bounce is progressing, we are seeing not only an affirmation of support levels but a strong bullish signal from the hourly MACD indicator as well. This one will bear close watching.

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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