HitBTC is a cryptocurrency exchange that is considered to be one of the old-timers in the industry. The Hong Kong-based digital asset trading platform started operating in 2013. As of now, this widely popular C2C exchange HitBTC features more than 400 coins (that includes the top 10 cryptocurrencies on CoinMarketCap).
With that being said, it is crucially important to determine whether the eighth biggest exchange is safe since it has been subjected to a couple of controversies that are connected to its regulatory status, alleged corruption and unexpected account suspensions.
To give a quick rundown of what to expect from the exchange, let’s briefly consider some of its main advantages:
The ability to trade with any deposit, which gives an edge to inexperienced traders.
A myriad of cryptocurrencies (from Bitcoin and major altcoins that are constantly on everyone’s lips to small coins from the bottom of the barrel).
Minuscule fees (only 0.1 percent for ‘takers’)
The beginner-friendly interface coupled with many features that are specifically designed for inexperienced users who are only making baby steps in the world of crypto.
Strict verification process. Users have to provide their personal information (there are three types of accounts).
Meanwhile, the exchange also has numerous disadvantages such as slow withdrawals, numerous issues with customer support and even security concerns (HitBTC suffered from a major hack back in 2016). Later, we will jump right into these many details.
These are simple sign-up steps that unregistered users have to follow:
1) Go to the sign-up page in order to open a new registration form (they only require your email and password).
2) Once you’ve pressed the big red “Register” button, a confirmation letter will be automatically sent to your email address.
That’s it! As you can see, the registration process on this platform is conducted in a very smooth way with minimum efforts from the user. All it takes is to come up with a strong password and enter your email address. However, do not forget to enable additional traditional security features such as two-factor authentication (2FA).
After two days of growth, the crypto market has seen a downside correction as Bitcoin and other cryptocurrencies suffered insignificant losses on Tuesday-Wednesday. However, the general situation still looks bullish and this correction is unlikely to last for long or be the game changer.
The main driver for the uptrend is news from Facebook relating their U-turn towards cryptocurrency markets and ICOs. Another driver also comes from Facebook as there are rumors that the famous social media is going to launch its own coin.
There is some less important but worth mentioning news. Ripple plans to launch a “drop.” However, this word was used to attract attention as there will be no traditional cryptocurrency drop. This time it means a new Ripple vlog narrating about the technologies crypto markets etc.
Other interesting news worth mentioning is the war of McAfee against HitBTC. The famous coin expert had some provocative comments in his Twitter accusing famous exchange in death of people and urging user to boycott this trading place.
Bitcoin (BTC/USD) price analysis, July 4
Bitcoin started a downside correction as the currency pair loses around two percent in the past 24 hours. However, we think that this correction is nothing more than just a pause of the uptrend as crypto market is still bullish. Investors fixed their positions but they are likely to resume buying in the nearest future.
BTC/USD had a bullish flag pattern on Tuesday but failed to develop its upside progress as the price reached the support area at $6,510 and tested it. Bitcoin jumped over this level, but still has opportunities to return above the resistance (which was the support previously). We can see a clear Hammer candlestick pattern on the hourly chart meaning the currency pair is ready to grow in the nearest future.
The closest targets for Bitcoin growth lie at the resistance area at $6,718. BTC/USD is likely to start growing towards this level on Wednesday. This is the main scenario for the next 24 hours. However, if bulls fail to drive the currency pair higher, we will become witnesses of a deeper downside correction aiming at the next support area at $6,329.
Ethereum (ETH/USD) price analysis, July 4
Ethereum stopped its uptrend on Tuesday as ETH price failed to work another bullish Flag. ETH/USD loses more than four percent in the past 24 hours but still looks bullish as we think this decline is nothing more than a simple downside correction to the previous uptrend.
Ethereum declined on Tuesday-Wednesday and reached the support area at $453.29. The currency pair formed a bullish Hammer candlestick pattern right on its support line with a fake breakout, meaning Ethereum is ready to burst upwards again.
If this works and buyers are successful, Ethereum will be able to reach at least $473.39 resistance area. We think that this target is enough for Wednesday. However, if buyers gain momentum, they will be able to drive the currency pair even higher.
This is the main scenario for today, but we should not forget about the bears. They are also able to develop this downside correction even deeper. ETH price is likely to reach the next support area at $431.42 in this case.
Ripple (XRP/USD) price analysis, July 4
Ripple follows its rivals and develops a downside correction as the price loses almost four percent in the past 24 hours. However, XRP/USD still looks bullish and able to resume its uptrend in the nearest future.
XRP/USD worked its bullish flag on Tuesday, unlike other cryptos. However, after reaching the resistance area at $0.5088, Ripple failed to jump over it and retreated from this area. XRP/USD declined towards the support area at $0.4744 and reached it later. We have a Doji candlestick, which means that Ripple is able to resume growth in the nearest future.
What are the targets for today? If bulls are successful close to this support area at $0.4744, they will be able to drive XRP/USD higher targeting the next resistance at $0.5088. Is this the final point for growth for the next 24 hours? We think that no, it is not and buyers will be able to drive XRP/USD even higher.
This is the main scenario for Ripple. However, if sellers gain momentum, they will be able to develop this downside correction towards the next support at $0.4495.
EOS (EOS/USD) price analysis, July 4
EOS developed its downside correction on Tuesday-Wednesday as EOS price failed to resume its growth after formation of a flag pattern. However, bulls are still on guards and we think they will restart the uptrend on the nearest future.
EOS/USD has broken through the support area at $9.03 and mover lower targeting the ascending trend line and the next support at $8.29. However, the currency pair stopped halfway there and we have a bullish Hammer candlestick pattern currently, which is a sign of reverse. Additionally, EOS/USD is close to the ascending trend line which gives support to the currency pair.
We think that EOS/USD will be able to resume its growth in the nearest future. The closest target for it is the resistance area at $9.03. However, we also think that EOS/USD has even more fuel and is able to reach the next resistance at $9.60 in the nearest future. This is the main scenario.
An alternative scenario for EOS/USD is bearish naturally. If sellers regain control, they will be able to push the currency pair lower through the ascending trend line.
NEM (XEM/USD) price analysis, July 4
NEM Started its correction on Tuesday and the flag pattern was broken. XEM/USD loses almost nine percent in the past 24 hours. The currency pair tests the ascending trend line menacing further growth.
The currency pair has broken through the support area at $0.2002 and moved lower. XEM/USD reached the next support at $0.1873 later. It is close to the ascending trend line as well. We think that EOS is likely to stop its correction in the nearest future in order to resume the uptrend.
The closest target for the uptrend lies at the resistance area at $0.2002. We think that XEM/USD will be able to reach it in the nearest future. However, we also think that the growth will not be limited by this level.
This is the main scenario. As for the alternative, XEM/USD may develop its downside correction, targeting the next support at $0.1682.
P2PB2B is an Estonian cryptocurrency exchange that can be used by individual customers only, but has a few benefits for ICOs, too. It features an open API for startups and provides the opportunity to get a free listing within 5 minutes. The multi cryptocurrency exchange platform has managed to attract a worldwide audience and reach an enormous daily turnover. How it can be useful for the average user and token creators, and is the game worth the candle?
Established in 2014, the Estonia-based P2PB2B exchange platform has quickly become popular around the world. It enables users to sell and buy cryptocurrency online. Its main currencies are BTC, ETH, and USD. What makes it appealing is the absence of trading fees and the fact that it has got a free listing of any business application’s API.
Today, P2PB2B supports 42 trading pairs with the following most popular combinations: BTC/USD, BCH/ETH, BCH/USD, DASH/BTC, BCH/BTC, LTC/BTC, DASH/USD, ETC/BTC, DASH/ETH, LTC/USD.
At the moment of writing this article, the exchange platform had a daily turnover of $31.38 mln and was the 47th exchange platform in the world by the volume of trading per 24 hours. In the last week, the overall trading turnover was $80.76 mln or 12,609.76 BTC, the monthly turnover — $148.77 mln or 23,228.17 BTC.
Generally, P2PB2B reviews are positive: users are satisfied with the speed of processing and fee policy. But can P2PB2B be called an ideal place for traders?
When it comes to P2PB2B, it seems to be a bare-bones solution: the platform cannot boast out-of-the-box functions, but it does what’s said on the label. P2PB2B is a reliable, quick and convenient cryptocurrency exchange platform — isn’t this the primary requirement from traders?
To make the trading process more efficient, the exchange provides:
current cryptocurrency rates;
When you need a simple and reliable cryptocurrency exchange platform, this is just the ticket.
Limit your appetites: P2PB2B won’t spoil you rotten with such features as signals, detailed personalized statistics, or crypto funds (analog of bank deposits). However, you can reap benefits from:
Exceptional processing speed: servers process up to 10,000 trades every second and support up to 1,000,000 TCP connections.
Decent safety. Over 95% of users’ assets are stored on cold wallets. Hacking is detected and blocked by an advanced Firewall.
A well-developed affiliate program allows adding to your profit. The referral program is topped off by the referral game: every season, the most active traders can win a generous amount of altcoins.
24/7 customer support is available for all users. Assistants speak English, Chinese (Mandarin), Japanese, Russian, Indonesian, Spanish, and German.
Recently, ATB coin was added, which delighted many traders.
It should be noted that P2PB2B’s single-page website is simplicity itself: it features everything you need and nothing you don’t. Navigation is a no-brainer, and newcomers will easily figure out what is what.
As previously mentioned, P2PB2B organizes contests: the most active users can gain points and win free tokens. The P2PB2B team went further and introduced ‘the Battle of Bitcoin forks’ for token creators.
What is it made for? Since the launch of Bitcoin, many developers tried to improve it and fix issues. In April 2018, there were 69 Bitcoin forks in total, but only 10 of them were present on exchanges. P2PB2B decided to help the best forks make their way to the market. The crypto community will decide which project is the best – winners get listed on P2PB2B.
Traders with at least 0.003 BTC / 0.05 ETH / 25 USD on their account are allowed to vote. How is it organized?
The first stage lasts one week, and only 8 coins pass to the next round. Coins that make it to the play-off receive listing on the platform for one month.
Eight coins are divided into pairs and participate in matches. Each match lasts 24 hours. Only 2 finalists pass to the final.
The final stage lasts for 5 days. The winner is chosen by voting and gets a free listing on the exchange.
Following this process, the companies behind Bitcoin forks will be able to promote their token.
P2PB2B offers a great referral program that’s topped off by Referral Games. Users who recommend this platform to their friends are paid a certain percent from their transactions. It is calculated in the currency of the trading commission and paid once a month.
In November-December 2018, the platform will organize the next season of Referral Games (every user is free to participate). To become a participant, you should register on https://p2pb2b.io, get the Referral Link, and invite friends through it. The more friends join the platform, the more coins you get. There’s one condition: a player should perform at least one transaction once a day, be that an order, deposit or withdrawal. Each transaction brings one point.
The actions of referred friends matter, as well. Thus, when a friend deposits money on his account or goes through KYC procedure, you get 5 or 10 points correspondingly. As soon as the number of referred friends reaches 10, a trader can get a 50% commission rate until the end of the game.
5 traders with the highest amount of points will win. The 1 mln token winners’ pot will be divided in the following way:
1 place – 250,000 tokens.
2 place – 125,000 tokens.
3place – 50,000 tokens.
4 place– 40,000 tokens.
5 place – 35,000 tokens.
Every season, the type of coin for reward is changed. This time, the E-Dinar coin is playing in the season.
Exchange Trade Volume
P2PB2B is in the Top-50 world exchange platform ranking due to the fact that its daily exchange volume is $31.38 mln (4,899.74 BTC). In a week, the exchange trade rate rises to $80.76 mln (12,609.76 BT); in a month, to $148.77 mln or 23,228.17 BTC.
How to Use P2PB2B
The platform is very easy in use. First, you need to register — this process takes a couple of minutes and requires minimal personal information. Then you should make a deposit and start trading. Exchange transactions are performed in the form of orders. You can be a maker and place your sell/buy order, or be a taker and accept someone’s order — this transaction will be instant.
In order to purchase cryptocurrency, you need to make a USD deposit on your account. This can be done by a wire transfer, or with a debit/credit card. Go to the personal Account → Deposit. Choose a payment method and confirm the transaction. As a rule, money is deposited instantly.
As soon as you have money transferred on your account, you should go to the Trade section and place or select the existing Buy order. As soon as it’s accepted by someone, you’ll have the coins transferred on your account.
On P2PB2B, users can buy vouchers (alphanumeric redeemable code) that can serve to transfer coins between Accounts. To buy a voucher, go to the Codes section on the upper left corner of the interface. Select the desired cryptocurrency from the list and specify the amount of the voucher. Then click the Create button. After that, the code should appear in My Code section.
At the moment, P2PB2B offers 42 trading pairs. The most popular are LTC/BTC. BTC/USD, BCH/ETH, BCH/USD, DASH/BTC, DASH/ETH, ETC/BTC. It cannot be called an extensive choice, but the most demanded coins are covered.
Good news: P2PB2B does not charge any trading fees. Exchanging cryptocurrency is totally free. However, deposit and withdrawal are charged. The platform accepts deposits in USD only: the fee is 4% (min 10 USD, max 100 USD). 0.2% fee is charged in addition to the purchased deposit.
As for withdrawal fees, they depend on the type of cryptocurrency you use:
-USD: 4% (min 10 USD, max 100 USD);
-0 ATB + 0.1% (min 10 ATB, max 1000 ATB);
-0.1% (min 0.1 BTG, max 10 BTG);
The platform may also charge a Storage fee for storing cryptocurrency until assets are reclaimed. The exact amount of fee can be checked in the Fee Schedule page. This commission is charged on a daily basis.
Now confirm that you agree with conditions and click Sign up. An activation email will be sent to you. If you don’t see the letter, check the Spam folder. Click the link inside the email and you’re ready.
If you have forgotten your password, you’ll need to go through the procedure of recovery, which might be quite complicated. In fact, users are allowed to generate a PIN-code for password recovery, but if you forget that too, you’ll have no choice but to contact customer support. Write [email protected] from your email address, explain the problem, specify your latest actions and deposits on the account, and provide screenshots, if possible.
Like its analogs, P2PB2B provides the whole gamut of security measures for its customers. First, users’ payment and personal information is encrypted; the website features an SSL certificate. Secondly, 98% of users’ assets are protected by cold storage. Thirdly, the platform leverages WAF that detects and prevents hacking. There were no reports of hacking or any fraudulent activity on P2PB2B: this website has an unsullied reputation.
To top it off, the platform has two-factor authentication technology, which eliminates the risk of stealing funds from users’ accounts. They can activate 2-step authentication and use SMS codes to verify their personality. If you lose the code or key to two-factor authentication, you’ll need to provide KYC data, your account login, and the information about the latest currency deposits and withdrawals.
Please note that P2PB2B practices KYC (Know Your Customer): that means your personal information will be required to perform transactions and withdrawals. You CANNOT withdraw money until the KYC procedure is finished. When your identity is verified, you will be able to make a withdrawal request within 24 hours.
Like some other exchange platforms, P2PB2B can suspend or terminate a user’s account if it’s suspected to be used for illegal purposes. For example, users’ accounts can be blocked for performing transactions connected with:
drugs and other narcotic substances;
weapons and explosives of any type;
pyramids, Ponzi and other schemes;
goods under trade embargo;
body parts or human remains;
protected animals or protected plants;
other purchases in the darknet.
Therefore, all transactions are tracked. Some clients can find this moment unacceptable.
Adding Payment Methods
Payment method management is performed in the user’s personal account. As soon as you open it, you should proceed to Payments. There, you should click Add new and specify your bank credentials, or debit/credit card information.
For making a deposit, click Balance → Deposit. Click “+” next to the coin you want to buy. You will be able to place an order, or be a taker and accept one of the orders from the list.
Alternatively, you can go to the main page. Open the Trade section and select the desired cryptocurrency by double-clicking on it in the list of coins:
You’ll see the forms of selling and buying cryptocurrency. Whenever the typed sum exceeds the limits of your budget, you’ll see the notification in red letters:
As soon as you place your order, you’ll be able to track it in “My Orders” section.
Please note that rates are not fixed: P2PB2B users are free to set up their own rates. Besides, the administration does not handle the orders — P2PB2B doesn’t approve/control the placed orders. They appear in the list of orders automatically, so you will have to wait until someone accepts your order. If that doesn’t happen while other orders are being processed, don’t despair. You can cancel the current open Order and submit a new one with a more agreeable price. Keep in mind that you can only cancel orders that haven’t been accepted yet. As soon as your Order is accepted, the transaction becomes irreversible.
Another pitfall is ‘partial acceptance of Order’. Your Order can be divided into separate payments. For example, you can issue 200 coins and get 40 coins first, and the rest a bit later. This issue cannot be called convenient, but it adds to your chances of having the Order accepted.
Many users praise the platform for responsive and helpful customer support. It is available on 24/7 basis without holidays and breaks. Customers can contact the assistants via email and receive the answer to their question within a few minutes. P2PB2B team does its best to help customers solve their problems and keeps improving the service.
At the moment, P2PB2B customer support is offered in seven languages: English, Chinese (Mandarin), Japanese, Russian, Indonesian, Spanish, and German.
After 4 years of work, P2PB2B has made a proper reboot and attracted even more customers from all over the world. This is a simple platform for profitable trading that is devoid of extra features. Decent customer support, the absence of transaction fees, and ultimate convenience make this project ideal for beginners. As for professionals, they may lack some functions, such as in-depth analytics, trading signals, and forecasts.
Another thing the platform lacks is a mobile trading app. P2PB2B is not up to scratch for traders wishing to work on the go. However, when the team manages to address these shortfalls, things may take off.
Please do not mistake the p2p Android application for P2PB2B — there are no official Android or iOS compatible versions!
In order to make a final decision, compare the advantages and disadvantages of P2PB2B:
Low fees. 0% fee for BTC and ETH deposit. 0.2% fee for trading coins.
Fixed withdrawal fees, which is expensive for minor withdrawals. The fee is defined by the type of coin processed.
Top-notch customer support on 24/7 basis. Users can contact the assistants via email. Seven languages are supported (English, Chinese (Mandarin), Japanese, Russian, Indonesian, Spanish, and German).
KYC procedure and tracking of user’s transactions. P2PB2B does NOT allow for anonymous transactions and can freeze your account for actions rendered illegal.
Exceptional security. SSL encryption and strong WAF guarantee protection against hacking. Over 95% of users’ cryptocurrency is stored on cold wallets, which prevents hacking, data breaches and malware.
A relatively small amount of trading pairs. While competitors offer hundreds or 1000+ coins for transaction, P2PB2B has only 42 trading pairs.
Intuitive interface: the exchange platform is easy to use; it features only the necessary functions. Even beginners will master navigation quickly. For the token to enter the exchange, it should have value and liquidity, and its code must be error-free and public.
The absence of a mobile application is a serious drawback that may cost P2PB2B millions of users. The team has never mentioned that they will launch a mobile app for Android and iOS.
No corporate accounts are available, which means the current withdrawal and transaction limits can be too harsh for users.
There’s no margin/leverage trading.
P2PB2B can be recommended for starters who need to learn the basics of trading. They don’t have to do anything except for placing their order or taking the current ones. The administrators do not control the orders, which is why users have a chance to set up agreeable transaction rates. Therefore, you can enjoy the freedom of trading coupled with convenience and decent customer support. In order to stay competitive, P2PB2B needs to add new cryptocurrency and features for professional traders. Without advanced trading features and mobile applications, the platform is doomed to become just another exchange out of hundreds similar platforms.
The currency pairs from the top 20 are correcting on Tuesday after a serious decline during the weekend. We have mentioned in our last review from June 11 that the requirements from CFTC to offer transactions data to the US regulatory body was one of the reasons for this significant downside momentum.
However, buyers have found ground on Monday as cryptocurrencies have stopped to decline and started to consolidate. Investors and traders still have fears as the price is unable to make a deeper correction in the moment of writing.
As for the interesting news, Israeli regulators want to ensure protection to cryptocurrency investors and aspire to establish necessary regulatory measures. They want to prevent frauds as well.
Bitcoin (BTC/USD) Price Analysis, June 12
The currency pair added more than one percent in the past 24 hours. Bitcoin has stopped to decline after a huge downside momentum. However, BTC/USD is unable to make any significant correction by the moment of writing meaning buyers still hesitate to make serious steps.
Let’s have a closer look at the currency pair. BTC price has retested the closest support area at $6,718 on Monday but was unable to run lower. Bitcoin has reached the closest resistance area later on Monday, but bulls had no opportunities to make even a fake breakout. The possible ways for the currency pair are the following:
Red scenario (bearish). Bitcoin will break through the closest support area at $6,718 and run lower targeting the next support area at $6,510.
Orange scenario (neutral). BTC/USD will stay within the current range, limited by the support area at $6,718 and the resistance area at $6,943.
Green scenario (bullish). The currency pair will break through the closest resistance area at $6,943 and run higher targeting the next resistance area at $7,181.
Ethereum (ETH/USD) Price Analysis, June 12
The currency pair has lost less than one percent in the past 24 hours but if we look at the hourly chart we can see that ETH/USD is in correction currently. The currency pair had significant losses during the weekend but stopped its decline on Monday. However, buyers are still hesitating to make serious steps.
Let’s see what’s going on the hourly chart. The currency pair has tested 3.618 retracement level on Monday but failed to break it through and reversed. ETH/USD ran towards the closest resistance area at $540.69 later. However, buyers were unable to touch this level. The possible ways for Ethereum are the following:
Red scenario (bearish). The currency pair will break through the 3.618 retracement level and move lower, targeting new local lows, established during the weekend.
Orange scenario (neutral). ETH/USD will stay within the current price range, limited by the support area at 3.618 retracement level and the resistance area at $540.69 without significant price changes.
Green scenario (bullish). Ethereum will break through the resistance area at $540.69 and run higher targeting the next resistance area at $566.90.
Ripple (XRP/USD) Price Analysis, June 12
The currency pair added more than one percent in the past 24 hours. Ripple had significant losses during the weekend, but stopped its downside tendency on Monday and started a correction. However, buyers are still hesitating as the price remains close to Monday’s levels.
Let’s have a closer look at what is going on the hourly chart. The currency pair has tested $0.5643 twice on Monday but was unable to break it through. XRP/USD has tested the closest resistance area at $0.5914 later. XRP price stays close to this area in the moment of writing. The possible ways for XRP/USD are the following:
Red scenario (bearish). Ripple will break through the closest support area at $0.5643 and run lower targeting the next support area at $0.5444 (local lows).
Orange scenario (neutral). The currency pair will stay within the current range, limited by the resistance area at $0.5914 and the support area at $0.5643 without significant changes.
Green scenario (bullish). XRP/USD will break through the resistance area at $0.5914 and run towards the next target at $0.6216.
EOS (EOS/USD) Price Analysis, June 12
The currency pair has lost less than one percent in the past 24 hours. EOS stopped its downside tendency on Monday as the price failed to establish new lows. However, buyers seem to hesitate currently as EOS/USD is close to Monday’s highs.
Let’s have a closer look at the situation on the hourly chart. The currency pair has tested the support area at $10.54 on Monday but failed to break it through. EOS/USD has reached the resistance area at $11.41 later on Monday but buyers were unable to jump over this level. The possible ways for EOS are the following:
Red scenario (bearish). The currency pair will break through the closest support area at $10.54 and run lower targeting the next support area at $9.91.
Orange scenario (neutral). EOS/USD will stay within the current range limited by the support area at $10.54 and the resistance area at $11.41 without significant price changes.
Green scenario (bullish). EOS will break through the resistance area at $11.41 and run higher targeting the next resistance area at $11.92.
NEO (NEO/USD) Price Analysis, June 12
The currency pair has lost less than one percent in the past 24 hours. NEO stopped its downside tendency on Monday as the price failed to establish new lows However, buyers seem unable to change the situation.
Let’s have a closer look at the situation on the hourly chart. The currency pair has tested $42.80 support area on Monday but failed to cross it. NEO price went upwards later but NEO/USD was unable to reach the next resistance area at $48.08. The possible ways for NEO/USD are the following:
Red scenario (bearish). NEO/USD will break through the current support area at $44.55 and run lower targeting the next support at $42.80.
Orange scenario (neutral). NEO will stay within the current range limited by the support area at $44.55 and the resistance area at $48.08.
Green scenario (bullish). The currency pair will jump over the resistance area at $48.08 and move higher targeting the next resistance at $50.24.
November 2018 was a tough month for Ethereum as the sharp decline in the Bitcoin price was a general one for the major cryptocurrencies, and ETH fell from the price of $208.88 on Nov. 5 to $104.40 on Nov. 27. Ever since in December 2018, there is a retracement already underway.
We will focus on a price prediction for Ethereum, especially for December, and also make an ETH price prediction for today based on technical analysis. Can this 50% decline from November 2018 reverse and pause, or will there be a continuation of the downtrend?
As always, any Ethereum price predictions have the element of uncertainty and risk, and they are not investment recommendations, but rather the result of financial analysis.
Ethereum price forecast
Here are some Ethereum predictions and Ethereum forecasts by experts:
Bobby Ullery, CTO of Waysay:
“I think Bitcoin and Ethereum will share a $4.5 trillion market cap by 2020. How much could one Ether be worth? This is a little harder to calculate due to the somewhat unknown supply of Ether in the future, how Proof-of-Stake might change new Ether issuance, and the impact that the Ice Age will have on time between new ETH issuance. The original 2014 issuance model, stated a projection of ~162M ETH in circulation in 2020, however /u/manly_ pointed out that Vitalik has said it would be closer to 100M, so for our rough math we’ll use 100M ETH.$1,137,500,000,000 divided by 100,000,000 = $11,375 per coin, ~+4,000% from today.”
Nigel Green, CEO of deVere Group:
“The price of Ethereum is predicted to increase significantly this year, and could hit $2,500 by the end of 2018 with a further increase by 2019 and 2020.This general upswing will be fueled by 3 main drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.”
Alexis Ohanian, Co-Founder of Reddit:
“I’m most bullish about Ethereum simply because people are actually building on it. It’s still early days, but you know, we’ve got a few CryptoKitties.
It’s easy to laugh at, but I think the first version of so many things looks like a toy and often has something to do with cats. It’s because the Internet loves cats. At the end of the year, Ethereum will be at $1,500. Great, now people can call me out if I’m wrong.”
All these experts appear to be bullish and optimistic about ETH’s price prediction for 2018 and beyond, up to the year 2020. Next we will analyze our Ethereum forecast for the rest of 2018.
Ethereum price prediction December
In November 2018, the price of Ethereum most likely fell due to the selloff from ICOs. The majority of analysts in the cryptocurrency sector have attributed the decline in the price of ETH to the selloff of ERC20 blockchain projects that have raised millions of dollars in ETH in their token sales.
As the price of ETH started to fall and the cryptocurrency market entered a major bear market, analysts said that ERC20 projects started to sell their ETH holdings, causing ETH to experience a more intense downtrend than other major cryptocurrencies. Thus, it is very evident that the decision of ERC20 projects on Ethereum to sell large amounts of ETH in panic largely contributed to the downtrend of ETH. What are our own ETH predictions? Our technical analysis will be based on the price action for the past month.
Ethereum price prediction end year
Before our technical analysis section about Ethereum prediction 2018, a few business arguments in favor of the price increase in the future are as follows:
The reasons behind the rise of Ethereum are plenty. Ethereum is used as a platform these days by a wide variety of ICOs as well as other cryptocurrencies.
Moreover, there are quite a few companies which are solely working on the Ethereum blockchain rather than the Bitcoin-based blockchain.
The underlying technology seems to be strong as well. This is the reason why the Ethereum predictions for 2018 as well as thereafter are positive. So, let’s explore this question further.
Ethereum price prediction 2019
As seen from the chart above, it is not easy to make any Ethereum projection about its future price. Any ETH forecast entails a very large degree of error. An Ether price prediction can be based, however, on more conservative price levels that are supported by business news and developments such as the arguments mentioned above. In our technical analysis section below, our Ethereum price projection will be a very conservative one.
Ethereum forecast today
This weekly chart shows that anybody who would have been bullish about the Ethereum in 2018 would have been proven wrong, as the price collapsed from $1390 in January 2018 to $107.23 in November 2018, a decline of 92.30%. What is the forecast for next year?
The daily chart of Ethereum (ETHUSD) does not seem very bullish, as there is a very strong downtrend in place, supported by the high values of the ADX/DMI indicator. The value of the ADX line is above 43, signaling a very strong trend. Usually, values above the 25 level indicate a strong trend. These are some of the key points in our technical analysis on Ethereum.
· Stochastic indicator (14,3,3) is at oversold levels below the 20 level, but still shows no signs of trend reversal. In fact, a few days ago it made a bullish crossover as price bounced from $104 to $126, but it was a short-term bounce as price is now trading at $108.
· MACD indicator is still at negative values, and although its histogram diminishes, pointing to a possible trend pause, it has not made any bullish crossover yet.
· Daily Bollinger bands are at $191.72 and $82.30 for the upper and lower band respectively, having expanded significantly. This high volatility may be followed by less volatility and a mean reversion to the 20-period daily moving average at $138.
· The price is below the daily 20-period and 50-period exponential moving averages respectively at $136.55 and $170.87. Both moving averages are pointing down indicative of a strong downtrend.
· There are no obvious levels of support other than the recent low price at $102.10.
· Former levels of support will act as resistance, and one important level is near $172.50, where 50-period daily EMA is now at $165.70 and at $188.40.
· Fibonacci analysis is taken as a high price of $225.56 and a low price of $102.09 from November 7, 2018 to November 25, 2018, showing that the 0.5 and 0.618 retracement levels are $163.07 and $177.46 respectively.
· Given the strong downtrend we estimate that a bounce is possible up to the price level of $125.00-$150.00.
· If the support of $102.00 is breached, then there are no previous support levels and the price can move significantly lower.
· Another factor to consider is that December is typically a month with reduced liquidity as it is a holiday season, and potential spikes in price could occur.
· Due to the correlation that exists with Bitcoin price collapse, and in general the decline of major cryptocurrencies in November, any Bitcoin bounce to higher levels could also drive higher the price of Ethereum in December 2018. The current price of Ethereum as of December 3, 2018 is $108.18.
The crypto market has been suffering a severe decline in the last quarter of 2018. But the last month of the year looks bright for Ethereum, as the HTC Blockchain Phone Exodus 1 is getting ready to ship in December, which is only accepting Bitcoin and Ethereum cryptocurrencies.
Ethereum enables developers to build smart contracts, and this is a positive factor as it has plenty of business potential. Will Ethereum rise or fall in December 2018? It’s a hard answer to give and prediction to make. The recent downtrend is strong. Still, it is too early to make a call for the bottom price of Ethereum as the year ends. But a moderate uptrend during the remainder of 2018 is probable.
We estimate that, due to the liquidity diminishing as we get closer to the Christmas holiday season, a moderate move up to the price level of $125-$150 is possible. The cryptocurrency has fallen significantly, and while we favor trading with the trend, a dominant downtrend with the possibility of a moderate move up is our basic scenario for the rest of December 2018.
The crypto alternative to PayPal is here, but is it ready for the long road to mass crypto adoption?
Request Network is a decentralized platform that allows anyone to request peer-to-peer payments. Its goal is to replace payment systems such as PayPal and make the most advanced payment terms available to everyone.
It also allows users to approve payment requests, which is not the case with the current payment system; the merchant charges you without the card holder’s permission.
On the road
Request Network raised $33.6 mln in three days, between Oct. 13-16, 2017. The token entered the market on Oct. 20 at $0.05 and saw a staggering 100 percent gain up to $1.07 in Jan 2018 but only came crashing down to $0.07 at the time of writing. It has a market cap of $55 mln and a CoinMarketCap rank of 152.
Request Network has released its beta invoice payment app and its online payment app, the latter allowing users to send and receive online payments in crypto for only a 0.1 percent transaction cost to the customer.
The website states that it is free but upon closer inspection, it lists the above small fee. Under development and pending a soonish release there will be an app for accounting and auditing and support for more currencies.
Further, Request Network is developing support for Bitcoin and ERC20 tokens in applications, a crowdfunding app, a payments dashboard app and more financial applications. While the roadmap is chock-full of many goals, there are no expected dates for implementation.
Christophe Lassuyt, Co-founder and CFO, has much experience in the past as a CFO at other fintech and crypto companies. He is a firm believer that Blockchain will become more transparent over the next few years and what we are seeing now, is only the tip of the iceberg of what is to come.
Etienne Tatur, Co-Founder and CTO, previously worked for Moneytis, along with Lassuyt, where the goal there was to establish the cheapest way to send money cross-border without incurring so many fees that traditional fiat does. Previous to that he has worked for several other companies working in finance.
Vincent Rolland, Lead Engineer, has been working for the past 10 years as a developer. He also worked at Moneytis as lead developer.
There are many people who see Request Network as an alternative to Paypal and other related online payments services. But in reality, PayPal works well and it's very well received by the public. Despite high transaction fees, people continue to use it because it provides a great service, without it payments would be very difficult.
Therefore, it will take a lot of time and effort to make people want a crypto version of PayPal. Further to competition to PayPal, before having a crypto alternative to PayPal, there needs to be legitimation of cryptocurrencies in general and the general public must realize that crypto can be an actual and useful alternative to fiat.
While hopes are high for success and there is a full roadmap but without target, completion dates Request Network faces many high hurdles to jump. While it would have been great to gain more insight on the challenges the company faces, Request Network was unavailable for comment. Emails were sent out and the company was given a week to respond to questions but there was no response.