0
📈 Price Predictions
671 views

BCH, EOS, and LTC Price Prediction - Has the Perception on Altcoins Passed the Bottom?

ByBit
  • Denys Serhiichuk
    📈 Price Predictions

    What are the reasons for a rise in prices of the altcoins?

BCH, EOS, and LTC Price Prediction - Has the Perception on Altcoins Passed the Bottom?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The overall market capitalization and price of Bitcoin (BTC) have been steadily increasing. Apart from Stellar (XLM), there has been a price upswing for the other coins. If XLM had the biggest gains from yesterday, then it is today's biggest loser as its rate has decreased by 0.64%. 

Top 10 coins by Coinstats

Below is the key data for Bitcoin Cash, EOS, and Litecoin:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin Cash

BCH

$5,410,971,893

$298.98

$2,466,000,016

3.07%

EOS

EOS

$3,376,050,273

$3.60

$2,843,480,291

1.79%

Litecoin

LTC

$4,030,561,427

$63.35

$4,281,378,546

1.19%

BCH/USD 

Yesterday's trading volumes were low, with sellers increasing their sales. This pair kept the price of Bitcoin Cash (BCH) steady at $289.51, preventing a decline.

BCH/USD chart by TradingView

Today, BCH has continued to grow, setting this month's ceiling price of $309.15. Until the end of the day, there is the possibility of a resistance retest in the are $320 area. Looking at the daily chart, the market is quite overheated, which could signal a potential price drop to $280 in the near future.

At the time of publication, BCH was trading at $300.77.

EOS/USD 

The price dymanics of EOS (EOS) are more on the positive side in comparison to other altcoins. Its rate has shot up by almost 10% since last week. Moreover, the coin could fix the acquired position after the October 25th pump.

EOS/USD chart by TradingView

Even though EOS has returned to its September position, the general trend has not yet switched to a bullish one. The trading volume level is decreasing against a rise in price. This usually means that a further drop in price is coming. In this particular case, the most likely scenario is a retest of $3.30 level in the near future.

At the time of publication, EOS was trading at $3.58.

LTC/USD 

Litecoin (LTC) confirmed our recent bullish scenario, reaching a price of $60 and surpassing it. Over the last seven days, the rate of the "digital silver" has gone up by 8.37%.

LTC/USD chart by TradingView

Analyzing the chart, LTC is trading in a similar manner to EOS - the price keeps rising against a declining trading volume. The MACD indicator is moving upwards, suggesting an increase to $70.

👉MUST READ

Litecoin Price Surges Seven Percent While Number of Daily Transactions Reaches Highest Level in 2019

Litecoin Price Surges Seven Percent While Number of Daily Transactions Reaches Highest Level in 2019

However, this will only happen if the trading volume index increases. Otherwise, LTC will drop to $55.

At the time of publication, LTC was trading at $62.92.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📰 News
388 views

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
    📰 News

    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

👉MUST READ

Peter Schiff Reacts to Sudden Bitcoin Price Drop: "Get Ready for the Dump!"

Peter Schiff Reacts to Sudden Bitcoin Price Drop:

"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

👉MUST READ

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted