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BTC, ETC, BNB Price Prediction — Can Altcoins Push the Market to $250 Bln?

Price Predictions
Wed, 05/22/2019 - 09:25
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Denys Serhiichuk
The total market cap is approaching $250?? bln again. Read our price analysis to understand when to buy and sell top coins
BTC, ETC, BNB Price Prediction — Can Altcoins Push the Market to $250 Bln?
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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.

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Contents

While Bitcoin keeps trying to break $8,000, altcoins are showing good growth even in correlation to BTC. All top 10 coins are in the green zone. The top gainer is Binance Coin, whose rate has skyrocketed by 10% over the past day and could surpass the $30 mark.

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Indeed, it seems that the altcoins market is back, and soon, we can expect new highs. Such a scenario is backed by Binance Research, showing that today is an excellent opportunity to buy promising cryptocurrencies.

Altcoins Binance Research
Research of the altcoins market by Binance

However, BNB was not the biggest gainer: the price of Bitcoin SV more than doubled yesterday as its creator Craig Wright registered Bitcoin’s white paper as his.

Bitcoin SV data
Bitcoin SV data by CoinMarketCap

Now, let’s turn to the technical point of view.

BTC/USD

The rate of the world’s top crypto has not changed over the last day; Bitcoin has been trading sideways for 3 days already. We could see the same situation one month ago, at the end of April. However, back then, the quotes started to rise.

BTC/USD 4-hour chart
BTC/USD chart by TradingView

Summing up, Bitcoin might keep trading in the green zone ($7,900-$8,250) until the last days of May.

Related
If Bitcoin Price Hits $8,300 Can It Repeat History and Reach $20,000 in the Next 13 Days?

The price of BTC is trading at $7,953 at the time of writing.

ETH/USD

If yesterday ETH quotes were trading in one direction with BTC, today, Ethereum is doing much better, as its rate has increased by 3%.

ETH/USD 30-min chart
ETH/USD chart by TradingView

On the 30 minute chart, the asset has been showing steady growth since May 20. The bullish trend is also noticed on the MACD indicator, as the coin is located in the ascending channel. In the long-term scenario, ETH may reach $261; however, the likely forecast is the level of $253.78 (23.6%).

The price of ETH is trading at $257.35 at the time of writing.

BNB/USD

It looks that no news is needed for Binance Coin to rise, as there are no vivid reasons for today’s growth. Now, no one even recalls the hack of the Binance exchange, meaning that the community is more than sure in the platform’s stability.

BNB/USD 1-hour chart
BNB/USD chart by TradingView

Related
If Bitcoin Price Hits $8,300 Can It Repeat History and Reach $20,000 in the Next 13 Days?

Our previous BNB prediction more than justified itself: the rate peaked at $30, fixing the ATH. In terms of the hourly chart, a little correction is needed for the coin to continue its smooth growth. Overall, the nearest scenario is reaching the $30 mark in a few days.

The price of BNB is trading at $31.62 at the time of writing.

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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 makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.