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🤷 Opinions
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Crypto Community Must Unite, Speak With One Voice to Make Movement Successful

  • George Shnurenko
    🤷 Opinions

    The past year has brought incredible things but has also revealed weaknesses in the cryptocurrency movement.

Crypto Community Must Unite, Speak With One Voice to Make Movement Successful
Cover image via u.today

For the crypto community, 2017 is marked by both astounding progress and disturbing imbroglio. Bitcoin has broken into the mainstream financial market with the launch of Chicagoan futures products. New investors flocked to exchanges unprepared for mainstream interest, bought up all kinds of coins and excitedly participated in conversations.

The crypto community may have never seen so many new curious members joining since Bitcoin’s inception in 2009. At the same time, the Bitcoin Cash hard fork pitted one part of the community against another, with anxious onlookers stuck in between. Governments are also beginning to watch the surge of investor interest with wariness.

Communication, governance necessary

Everything that happened last year, the good and the bad, should serve as a wakeup call for people that consider themselves part of the crypto community or even those who think they can just hodl some crypto, sit on the sidelines and watch. This is paradoxical considering the trustless nature of Blockchain, since making cryptocurrencies work requires communication, negotiation and ultimately governance. In fact, governance may be most important of all, as the canceled SegWit2x and the four-year scalability debate has shown. Even more ironic is that the crafting of a healthier ICO market may require anarchists to sit down with government officials.

So far, communication and the ability to work together is lacking in the cryptocurrency community. Instead, what we have are mysterious whales doing unknown things in the marketplace and Wild West pump-and-dump Telegram channels. Unifying voices are lonely and quickly drowned out.

While it’s probably wise to constantly look out for one’s own interest and reputation, it’s probably not wise to only look out for oneself. All who remotely care about the intermediate-term prospects of crypto would better serve themselves and others as both a member of a newly rising community and member of a new form of economy.

Community must unite

Bitcoin was born as a rebellion against the existing financial system. The roles of cryptocurrencies and tokens today are less clear. One way or another, as more money pours into coins, government action from different parts of the world is almost sure to follow. What will be the community’s reaction then?

At the end of the day, no one can stand alone.

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About the author

George Shnurenko is a Bitcoin and cryptocurrency enthusiast, financial analyst and writer. He's majoring in history but he believes that the digital currency which has taken the world by storm will bring about change to all us humans. 

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📈 Price Predictions
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TOP 3 Price Predictions for BTC, ETH, XRP: Next Stop for the Bears?

  • Denys Serhiichuk
    📈 Price Predictions

    Analyzing the reasons for today’s cryptocurrency market decline

TOP 3 Price Predictions for BTC, ETH, XRP: Next Stop for the Bears?
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.

November 22nd started with a huge market dump as Bitcoin, the top cryptocurrency, lost nearly 10% of its value since yesterday. The altcoins have also followed today's downward trend, as the top 10 coins are all located in the red. 

Top 10 coins by Coinstats

Here is key information about Bitcoin (BTC), Ethereum (ETH), and XRP (XRP).

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$129,201,282,733

$7,153.53

$29,610,280,555

-9.95%

Ethereum

ETH

$16,292,927,175

$149.96

$10,741,686,263

-11.77%

XRP

XRP

$10,151,900,406

$0.234456

$1,818,796,100

-4.67%

BTC/USD 

Our BTC prediction from yesterday came true as the price has almost reached the expected $6,875 mark.

BTC/USD chart by TradingView

Today’s sharp price drop for the leading crypto has more to do with a fundamental reason than a technical one. This mainly happened because of China's policy to ban any providers of crypto transactions to its citizens.

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Looking the 4H chart, BTC has updated the bottom by touching the $7,000 mark. It is unlikely to go any deeper according to the Stochastic RSI and other indicators because they are showing that BTC is oversold. Meanwhile, the $7,500 mark will be retested soon as this previously served as a support level for BTC. A bounce back might occur through the end of the current week.

At press time, BTC is trading at $7,114.

ETH/USD

Compared to BTC and XRP, ETH has faced the biggest price drop (more than 11%) since yesterday.

ETH/USD chart by TradingView

Even though ETH has lost significant value from its shares, it is more likely to return to its previous positions faster than BTC. The last bearish candle has a long wick, which suggests that sellers could not fix the rate below $150 for a long period of time. Moreover, the coin is oversold on all time frames, especially the daily ones. Respectively, this chief altcoin could come back to the $155-$160 range soon.

At press time, ETH is trading at $149.74.

XRP/USD

XRP has shown the best price dynamics against the market decline. While the majority of altcoins have lost about 10%, the rate of the third most popular crypto has been reduced by 5%.

XRP/USD chart by TradingView

XRP has more than justified our previous scenario as the rate has gone far below the $0.24 mark. In terms of a short-term price projection, it is bullish as sellers have almost sold everything, giving a chance for buyers to accumulate positions before an additional decline against the bearish market. To sum it up, a bounce back could push the price up to $0.2450. 

At press time, XRP is trading at $0.2323.

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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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