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[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!
[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!

Ethereum Classic Under Possible 51% Attack. ETC Devs Deny

  • Thomas Hughes
    📈 Price Predictions

    The exchange suspended movement of funds on the ETC blockchain and stated that Ethereum Classic is being 51% attacked

Ethereum Classic Under Possible 51% Attack. ETC Devs Deny
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On Jan. 5, 2019, giant exchange Coinbase revealed they’ve detected a “deep chain reorganization of the Ethereum Classic blockchain that included a double spend”. As a result, the exchange suspended movement of funds on the ETC blockchain and stated that Ethereum Classic is being 51% attacked.

ETC developers responded on Jan. 7 by saying that the suspicious behavior was caused by a mining pool which was involved in “selfish mining” that resulted in more than 50% of the hashing power. According to them, ASIC manufacturer Linzhi was testing machines with a hash power of 1,400 Mh, which is significantly higher than what is currently available.

ETC/USD chart

Having lost 3.20% in the last 24 hours and 1.75% in the last 7 days, Ethereum Classic is currently trading at 5.03 against the US Dollar and seems poised for a bigger drop unless it can quickly climb above the 200 period Exponential Moving Average on a 4-hour chart.

The resistance around 5.63 – 5.65 rejected climbing prices multiple times, so it’s safe to say this level will play a major role for future price action. For the time being, the pair is on a downwards path and considering the latest 51% attack rumors, we will likely see a drop into 4.63. Keep in mind that the pair is trading in a range since it first hit 5.63 resistance so until a clear breakout occurs, the signals are mixed.

Support zone: 4.63

Resistance zone: 5.63 – 5.65    

Most likely scenario: range-bound trading, choppy price action with a bearish bias

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[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!

  • Denys Serhiichuk
    📈 Price Predictions

    💸🤑More than 1 year ago, Bitcoin cost $10,000. Despite the fact that the most popular cryptocurrency and the whole market was in a bearish trend last year, there are still positive forecasts from experts for 2019. We prepared a Bitcoin price analysis to show that both technical and fundamental factors can get BTC back to the important level of $10,000

[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!
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Contents

Bitcoin is still the most popular cryptocurrency in the world. This year marks 10 years since its creation. Last year was not the best for cryptocurrency holders. After a long lull, many hope the value of Bitcoin will increase. There is reason to believe that in 2019 the cost of this cryptocurrency will reach $10,000.

Causes of the possible comeback

In favor of the appreciation of Bitcoin, many analysts of Forbes magazine offer negative forecasts of other cryptocurrencies. According to them, they will gradually lose their popularity. Fewer people trust altcoins. Forbes analyst Naeem Aslam argues that the cost of Bitcoin will not fall below $2,000 and may well overcome the mark of $10,000.

BTC Price Analysis

Analyst and expert in the field of cryptocurrency forecasts Kevin Cook notes that this month the volume of BTC transactions is on the rise and over the past five months has grown by 150%.

Thus, today it is impossible to say that Bitcoin is losing popularity.

On the contrary, its dominance in the cryptocurrency market is almost 51%, which allows the cryptocurrency to remain the focus of attention of potential investors.

Recently, a well-known BTC supporter, Tom Lee, suggested that the fair price for a popular digital asset should be between $5,000 and $20,000.

Tim Draper, a widely known crypto-optimist, also confirmed his forecast for cryptocurrency and expects its value to be $250,000 by 2022.

Bitcoin in 2019: what to expect?

The rapid growth of the Bitcoin rate can contribute to its implementation into the economy as a means of payment, and not as a stock exchange instrument. Optimism is added by plans of some large businessmen to accept Bitcoin. Although it was conceived as an independent currency, its entry into the world financial system would breathe new life into it. Now the US Securities and Exchange Commission is considering the possibility of creating Bitcoin ETFs. The decision is likely to be positive. This will attract several hundred billion dollars of investments and will have a positive effect on the cryptocurrency rate.

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