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BTC, ETH, XRP Price Prediction — Bulls Closed the Week with New ATH. Can They Fix the Position Until June?

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    📈 Price Predictions

    After the market pump over the weekend, 🔝top coins are not going to “relax”. Can such a scenario remain 🤔🌱till the end of spring?

BTC, ETH, XRP Price Prediction — Bulls Closed the Week with New ATH. Can They Fix the Position Until June?
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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.

Contents

After several weeks of bullish movement, a bearish retreat, and an even bigger bullish run, there was a breakthrough on the cryptocurrency market over the weekend.

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On Sunday, May 26, the price of the first cryptocurrency updated the new maximum of this year, having managed to grow by several hours by almost $800 and get to the levels above $8,800.

Top cryptocurrency

All top cryptocurrency have followed BTC’s example; Litecoin has soared by 11% while the price of Bitcoin Cash has increased by 9% overnight. Meanwhile, the total market capitalization has risen by $30 bln over the weekend.

Such growth is not spontaneous, as the popularity of digital assets is increasing, based on the daily transaction volume. The leading cryptocurrency has already surpassed American Express by the number of transactions and is getting closer to MasterCard.

Daily Transaction Volume

Concerning the technical analysis, the situation on the market looks the following way.

BTC/USD

Our prediction made the previous week more than justified itself, as Bitcoin did not just reach $8,100 but could jump to $8,600. On the Bitstamp exchange, Bitcoin reached $8,802, after which it adjusted to levels at the $8,600 area.

It is worth noting that the last time Bitcoin traded above the $8,800 mark was more than a year ago – May 11, 2018.

BTC/USD 1-hour chart

On the hourly chart, the price of Bitcoin has rocketed by more than 10% in just over the last 2 days, breaking all levels on the way to $9,000; however, that level was not reached. According to the technical analysis, the current price rise does not look like steady growth but rather a pump. The RSI indicator is located in the overbought zone, suggesting a potential rollback.

So, the nearest scenario is reaching the previous resistance area at $8,400 in a few days.

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Bitcoin Price Goes Bullish After Brief Retracement, Analysts Are Optimistic  

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The price of BTC is trading at $8,710 at the time of writing.

ETH/USD

If there are no precise fundamental reasons for BTC’s rise, Ethereum’s growth may be backed up by some news background. The founder of ETH, Vitalik Buterin, has announced that the network needs to update the transaction sending protocol by introducing a mixer to anonymize Ethereum.

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Ethereum Price Analysis 2019: Might ETH Cost $ 1.000?

Ethereum Price Analysis 2019: Might ETH Cost $ 1.000?

ETH/USD 1-hour chart

The leading altcoin also followed our previous scenario, and $261 was achieved earlier than predicted. On the 1-hour graph, Ethereum is looking better as Bitcoin still has strength to rise to $280 since the RSI is located on the verge of the overbought zone. However, that resistance will not be broken so fast, and most likely, the quotes will return to $265 first.

The price of ETH is trading at $269.27 at the time of writing.

XRP/USD

Ripple is almost copying Ethereum’s patterns; at the moment of writing, the prices of ETH and XRP have increased by nearly the same amount.

XRP/USD 1-hour chart

On the hourly chart, XRP could break the critical level $0.40 and fix above it. At the moment, there are no signs of a deep correction, as the bullish potential is not over. The technical indicators confirm such tendencies, as MACD and RSI are showing growth to $0.4280 in the short-term scenario.

The price of XRP is trading at $0.4091 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 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.

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Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper

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    World-famous investor and Bitcoin bull Tim Draper explains what reasons will push Bitcoin price to $250,000 by 2023

Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper
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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.

Contents

While speaking to the audience at the Malta AI & Blockchain Summit last week, the billionaire and prominent Bitcoin supporter Tim Draper confirmed his previous forecast for the BTC price hitting $250,000 in the near future.

This time he explained that this high price per one BTC will be achieved through the growing use of the Lightning Network and explained how it will happen from his point of view.

Bitcoin still to hit $250,000

The Bitcoin permabull Tim Draper again stated that the Bitcoin price is going to hit $250,000 by 2022-2023. He said this will happen due to the growing use of the Lightning network which allows conducting payments in BTC easily.

Being a major global investor, he nevertheless shares the opinion of many crypto enthusiasts that BTC is not only a store of value but it can also be used to pay for things in everyday life – micropayments, the retail sector, etc, i.e. is perfect for adoption.

Previously, Tim Draper stated that his forecast of BTC reaching $250,000 was actually a quite conservative prediction.

Will Bitcoin get to be worth $1 mln?

As reported earlier on Wednesday by U.Today, the crypto asset manager and a trader Marius Landman tweeted that before Bitcoin hits $1 mln, it is bound to go through ‘super hyper inflation’, in which price drops by $20,000 will be considered insignificant.

He also expects Bitcoin and Litecoin to show ‘subito motus’ (Latin for ‘sudden movements’) soon, saying that this will leave uninformed investors and technical analysts at a loss.

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Smaller bullish BTC forecasts

Other traders and analysts seem to think more vaguely when they are looking at technical analysis graphs. They are bullish, nevertheless.

The @crypto_rand trader with over 216,000 followers on Twitter simply posts a chart, saying that Bitcoin ‘still looks bullish’.

Another analyst and trader PlanB has published a chart of the way the changes in the Bitcoin mining difficulty have impacted the BTC price. People in the comment thread agree that this data at the moment is bullish for the Bitcoin price.

At press-time, Bitcoin is sitting at $8,823.

BTC price CMC
Image via CoinMarketCap

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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