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Litecoin, IOTA, DASH, and the Basic Attention Token Daily Price Predictions - Utility Is the Key

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  • Thomas Hughes
    📈 Price Predictions

    ⏩Litecoin, arguably a better faster version of Bitcoin, has been among this year’s big winners🏆

Litecoin, IOTA, DASH, and the Basic Attention Token Daily Price Predictions - Utility Is the Key
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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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With the Bitcoin market showing signs of life there are other indications the cryptocurrency market is beginning to wake up. One of those is Bitcoin dominance. Bitcoin dominance is a measure of Bitcoin’s command of the cryptocurrency market. Expressed as a percent of the total market cap it shows Bitcoin is still the preferred token by HODL’ers. What it also shows is that other tokens are beginning to see some action too. BTC’s dominance has been edging lower since hitting its peak in September 2018 as money begins to flow into other cryptocurrencies.

Litecoin Price Prediction: LTC Is This Year’s Big Winner

Litecoin, arguably a better faster version of Bitcoin, has been among this year’s big winners. The token hit a bottom in mid-December 2018 and has been trending steadily higher ever since. Now trading near $60 it is up more than 170% off the low. The token is now wrestling with a bit of resistance that does not look overly strong at this time, a move above $60 and continuation of the trend is expected. Once the $60 level is firmly broken, we can expect to see a rapid rise to $70 where stronger resistance may be found.

LTC/USD chart by TradingView

LTC/USD chart by TradingView

DASH Price Prediction: DASH to the Top of the Ranks

DASH is gearing up for a big move that could see it rise several spots in the market cap rankings. Now sitting at 14th spot it would not take much for this token to gain 4 or 5 spots in the ranks. Currently trading just below the $95 level it is up about 50% since hitting its bottom and looks like it could easily move up to the $120 level in the next few weeks to 3 months. A break above the $95 level would break a strong resistance and a trading range with magnitude near $30. Projecting that $30 puts us near $125 and well above my next target for resistance.

DASH Price Prediction

DASH/USD chart by TradingView

IOTA Price Prediction: IOT Edging Higher

IOTA has not yet begun the move I predicted last month but it still looks good for big gains. The token is supported by the short-term moving average and an uptrend line that is likely to start producing more significant bounces higher. The indicators are consistent with rising prices and now set up to fire technical signals that will attract new money. Once resistance at the $0.32 level has broken a move to $0.35 and $0.40 is expected.

IOT/USD chart by TradingView

IOT/USD chart by Trading View

The Basic Attention Token Has Utility

The Basic Attention Token is the native digital currency for the Brave Browser system. The Brave Browser is an open-source privacy-oriented browser that pays viewers to watch ads. The system has been gaining popularity over the past year and demand for the token is heating up. Up 100% from the December low this coin is now in consolidation. The indicators suggest consolidation will continue until the 30-day EMA catches up to price, at that time I expect to see the BAT advance about $0.10 to test support at the $0.30 level.

BAT/USD chart by TradingView

BAT/USD chart by TradingView

About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

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Bitcoin Price Can Be Easily Pushed Down by Whales: Professor John Griffin

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  • Alex Dovbnya
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    John Griffin says that rapid price swings are possible because it can be manipulated by deep-pocketed whales who are not stronger than ever

Bitcoin Price Can Be Easily Pushed Down by Whales: Professor John Griffin
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Economics professor John Griffin recently rang alarm bells over the impact of Bitcoin whales on the Bitcoin market. 

Griffin told Bloomberg that a few large players could easily push the BTC price down at a whim. 

"The problem with a few large players holding crypto is that when they sell they can easily push the price down, which makes the market susceptible to rapid swings."  

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Whales are getting more powerful 

According to data released by CoinMetrics, the number of orange coins controlled by deep-pocketed Bitcoin investors reached its highest point in four years in 2019. As of December, a whopping 42.1 percent of Bitcoin's total circulating supply is stored in wallets that hold between 1,000 and 1 mln BTC. 

While crypto exchanges are known to be the owners of the richest Bitcoin addresses, investor Aaron Brown warms some of the new whales on the block are family offices and affluent individuals who are not exactly keen Bitcoin believers who might be tempted to jump ship if things turn south. 

“I doubt they have infinite patience, and without significant growth in actual use, I would expect them to quietly withdraw to chase other promising technologies,” Brown said.

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Becrying Tether's impact on Bitcoin 

Speaking of those who don't believe in Bitcoin, Griffin probably takes the cake as one of the most prominent naysayers. Back in June 2018, together with his colleague Amin Shams, he published a paper that explores how Tether was allegedly responsible for propelling Bitcoin to new highs during the peak of the previous bull market in December 2018. 

At the beginning of November, the two academics came up with an even more shooking claim -- the historic ascent of Bitcoin to its current all-time high of $20,000 was the deed of a single whale on Bitfinex, the affiliated exchange of Tether.

Tether dismissed the updated study as a puff piece that was meant to back up a $1.4 trln lawsuit against the flagship stablecoin issuer. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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