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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Bitcoin Ends February on a Positive Note — Is This The Start of the Bull Run?

  • Darryn Pollock
    🤷 Opinions

    ⏳✅It has been a long while since the news for the cryptocurrency markets has been positive, but February was good for Bitcoin💹👌

Bitcoin Ends February on a Positive Note — Is This The Start of the Bull Run?
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Since December 2017, it would be fair to say that the cryptocurrency market has been in freefall, entering a bearish market that has lasted over 12 months. However, there is some positivity at the end of February, with a good month finally appearing.

After losing each month for six consecutive months, Bitcoin has now had a positive month where it finished higher than where it began. While this is not enough to suggest that the bearish market is over, it is a good change of situation to see gains over a month.

A good February

The price of Bitcoin, which began February at a little over $3,400 per coin, has added some 11 percent over the month, climbing to $3,800. The price briefly even crossed the $4,000 mark a number of times during February but failed to secure a footing. This is also indicative of a change in fortunes, seeing the coin break a $1,000 marking after such a long time.

Before February, Bitcoin was losing ground every month since last September, taking a specially heavy blow in November, where the relatively steady mark of over $6,000 dropped by aver 50%.

However, during the last few weeks, some bulls have been making bold predictions and even suggesting that that the bitter winter for cryptocurrencies is finally coming to an end.

A new type of rally

There has been a much bigger focus on blockchain and what it can do within enterprises and big companies; there has also been a big boost in regulation, most of it being friendly. This has only been able to happen because of the speculative bubble that burst when Bitcoin was rallying so fast in 2017.

Now, there is a better feeling overall about the technology and its associated cryptocurrency, and companies and regulators are happy to try and build it up from the ground up to secure a stronger and more viable product.

Because of this change in mindset, and a loss of pure speculation, there is a chance for a cryptocurrency spring to blossom, but it will more than likely be a lot less aggressive than the last big rally for the cryptocurrency market.

It is still to be confirmed, but in terms of a good starting point, a positive 28 days through February shows a lot of promise.

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Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls

  • Jack Thomas
    🤷 Opinions

    📊👀Ripple’s Market cap, through its XRP token, was ahead of Ethereum at a few stages, but its price prediction has slowed and come under pressure from resistance below the $0.33 mark, and in doing so, Ethereum has pushed higher into second place

Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls
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Ripple, and its native token XRP, have been stuck in a bit of a price vacuum over the past few weeks and months as many other coins have managed to break such marks. Sitting between $0.30 and $0.33, XRP has actually started to even lose ground on Ethereum in terms of market cap.

The third-ranked coin by market cap has in the past managed to over take the smart contracted-based blockchain as it surged in interest and growth in the recent past, but now it has fallen back by nearly $2 billion.

In terms of price prediction, XRP has a lot of hope and positivity surrounding Ripple’s efforts to make it a staple of banks going into the digital age, but it has stalled in its own growth recently, which is surprising seeing as other altcoins have doubled in 2019 alone.

XRP’s sticky situation

There was a small drop in the market last week which was halted when Bitcoin managed to keep above $4,000, but XRP also tested an important resistance. After testing the $0.3000 support, XRP’s price started a short term rebound against the dollar.

The price traded above the $0.3050 and $0.3080 resistance levels. The price even traded above the $0.3100 level, but it faced a strong resistance near the $0.3120 level. Besides, the price even failed to test the $0.3120 level and the 100 hourly simple moving average. A high was formed at $0.3113, and later the price started a downside move.

XRP is especially low currently, testing its floor rather than the ceiling, which has been seen closer to the $0.33 mark, but what is not helping the coin get past any of these resistance marks is its drop in market cap.

Ethereum taking the initiative

It is difficult to tell if Ethereum is making ground on XRP’s market cap based on its own growth – which has not been astronomical in terms percentage gains in the last few weeks – or if it has to do with XRP losing its own worth and value in the eyes of the market.

Ethereum is facing some major changes in the near future, and it could be that early investors are starting to look for a cheap deal as they prepare for the Casper upgrade and the change to Proof of Stake. Ethereum is bound to make big ground when that happens.

Ripple may not admit it, but having XRP as the second ranked coin above Ethereum would be a big deal for them as it adds a lot of legitimacy in the general market and helps in boosting their own worth and value as a company looking for more partnerships.

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