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Bitcoin (BTC), Ethereum (ETH) and Ripple’s XRP post-bloodbath predictions

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The cryptocurrency markets have stayed shaky for a good number of days now, again, with top 3 cryptocurrencies Bitcoin, Ethereum and Ripple (XRP) not being a difference from the rest of coins. The situation has left many wondering about price forecasts of these top-ranked virtual currencies, here in this post we’ll do some short-term price analysis of the three.

Bitcoin (BTC)

Bitcoin’s most recent peak was around $8,500 and, by definition, it’s been going down ever since. It’s lost almost 25% against the dollar. A lot has been said about SEC’s decision to leave the ETF decision for next month, and that surely didn’t help at all, but the current lows owe more to speculation than to the day’s news.

The usual technical market analysis tools suggest that if Bitcoin doesn’t go back up to at least $6,700 mark, then it will keep dropping against the USD slowly. If the current bearish trend keeps dominating Bitcoin’s trade, then it’s unlikely that the downward spiral will stop until it reaches $6,000 because that’s the point at which the price could make new buying orders tempting for speculators.

So no good news for Bitcoin, it will keep going down very quickly for some more time yet. That is terrible news not only for Bitcoin but the whole market as most other coins usually mimic BTC’s market behavior closely. But the number one cryptocurrency my market cap, Bitcoin has started to show some resistance already, went up by 2% in the last 24 hours. We need it to hit $6700 as quickly as possible to enter a mid-term rally.

Ethereum (ETC)

Things have not been any better for Ethereum, the market’s second digital asset regarding market capitalization. Half of the last week, the cryptocurrency lost around a tenth of its value every day. It’s below $340 right now, and market indicators characterize this position as entirely bearish which means that it can keep losing value.

The market is expected to start buying again when the coin reaches $330, but it’s possible that they won’t until it falls to $315 or $320 (is trading at $321 currently) which could be reached quickly as things stand.

If it were to go up again (which is tough in the current market conditions) even if Ethereum is the coin that is most independent from Bitcoin’s performance, it would face trouble when reaching $388. While reaching that level is possible according to technical indicators, nobody really expects this token to go up quickly now. Will take some time.

That is good news for users of the Ethereum network as the gas price (which has become one of the most common complaints about Ethereum over the last months) will be less expensive thus retaining users, decentralized apps, and developers that have been looking to adopt other blockchains to save costs. But this is a band-aid and not a long-term solution. Also, holders won’t be happy.

Ripple’s XRP

The bears have also been playing with Ripple’s XRP. The “unthinkable” happened as it went below the 0.35 USD mark, which was considered to be basically impossible by many observers and analysts. Some days of last week, it lost 15% on a daily basis. 

A selling order of ten million tokens is suspected to have had a lot to do with that drop. But in a market that sees a hundred new tokens every month, and the way things are going for all tokens right now, blaming a ten million transaction for such a significant change in price seems a little silly.

XRP’s markets are expected to start moving again when the price drops to 0.325 USD, but if such response fails to materialize, then it’s anybody’s guess what comes next as the token moves into an uncharted area that allows for no predictions at all. Below this pivot point, anything could happen from a recovery to a continued downward spiral.

If, on the other hand, XRP goes up quickly (unlikely to happen anytime soon), it will probably hit the wall when it reaches $0.365. Under the current conditions, XRP can overcome the bearish trends if it finds a way to get back to $0.40.

To wrap things up: there’s no great news on the horizon for any of the three big boys Bitcoin, Ethereum, and XRP. Even after seeing little greens, they are all still feeling the bear’s hug, and it just won’t let go. The current bearish trend is sure to end, but while the current market developments point to the final stages of the bearish run, there is still no sign that it could be that imminent now. In the current climate there are only two possibilities: be patient or buy.

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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 Pixabay.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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