0
📰 News
66 views

Market Kisses Another $25 Bln Goodbye, Crypto Slaughter Carries On

  • Yuri Molchan
    📰 News

    Another day is behind along with $25 bln more, caused by the top coins to slide deeply down the crypto market hill, dragging smaller assets along


Market Kisses Another $25 Bln Goodbye, Crypto Slaughter Carries On
Contents

Crypto assets from the top ten group have shown major losses overnight: Bitcoin shed a whole 14 percent of its value, with Ethereum trailing behind, dropping 14.5 percent. It is followed by the recently split BCH, declining by 45 percent and XLM lost 10 percent, with all these coins losing a lot of their volume and momentum.

Bitcoin Cash gets ‘thinner’ more than other coins

Bitcoin Cash SV (BCHSV), the coin emerging as a result of the recent hard fork of the BCH chain, initiated by Craig Wright’s fraction, dropped from $170 to just $60 just in three days.

Its rival, Bitcoin Cash ABC, decreased from about $450 down to $270, too. The situation is becoming worse for the SV coin, also due to the fact that — as U.Today reported earlier — two major mining pools, BTC.com headed by Bitmain and Jihan Wu, and Bitcoin.com under the lead of Roger Ver, decided to end the “crypto chaos” and began mining only Bitcoin Cash ABC.

Analysts believe that the present situation in the market would force BCH and other digital assets go further down. In particular, BCHABC may well probe the $180 mark first time in its existence lasting slightly over a year.

Other market players

As for other electronic coins — such as XMR, DASH, TRX, BNB and IOTA — they have all plummeted 16 percent on average.

👉MUST READ

Stellar Price Prediction: Rising in the Ranks

Stellar Price Prediction: Rising in the Ranks

It seems surprising to see Binance Coin drop, considering the fact that the exchange keeps the leading position in its line of business, with BNB being the coin with the best performance results throughout the year, even better than BTC.

BNB now has slumped around 74 percent, dropping from its historical high. In comparison, Bitcoin has lost about 76.5 percent and Buterin’s ETH declined 87 percent altogether.

However, BTC and BNB were both holding their market position for the past few months, from mid-summer until just recently. However, analysts reckon that since ICO startups still hold a lot of ETH coins, Ethereum may keep rolling down below major levels of support in the upcoming weeks.

Ethereum’s bad crypto luck

ETH has dropped 15 percent, which is pushing the coin down towards a $130 low. As is said above, the forecast is coming true to life and startups that raised funds for their ICO projects in Ether are now selling it on major and minor exchanges.

Since the bearish pressure on Ethereum is getting stronger, the coin may drop further down and probe the $100 level. This would be the first time since 2017.

Cover image via u.today
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

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.

👓 Recommended articles
0
📈 Price Predictions
917 views

XRP Price On The Verge Of Breakout? Twitter Users Expect XRP Hit $1 This Year

  • Vera Yurina
    📈 Price Predictions

    Can Ripple touch the $1 level this year? Check out interesting opinions and XRP price predictions from Twitter users


XRP Price On The Verge Of Breakout? Twitter Users Expect XRP Hit $1 This Year

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

Failing to sustain high price level, XRP is keeping around $0.30. It might seem that Ripple’s XRP stands still all the time, but Twitter users have the opposite opinion. They are sure that big changes are coming, and XRP is simply accumulating power for the price to explode. Can Ripple go to the moon in 2019? What will drive its overwhelming growth? Check out XRP price predictions from Twitter users. 

The history repeats

According to the long-term price charts, Ripple might be repeating its history, and the scenario of 2019 can actualize this year, too:

If XRP breaks out of the current resistance zones, its growth would exceed $1 easily. Some traders are sure it has enough potential to touch the $5 level, too.

Are there any certain triggers of XRP growth? There’s a bunch of theories. One of them claims that Ripple will burn its immense reserves of XRP for its price to rocket:

Although the petition is started, Ripple Labs itself does not plan to burn its tokens – it might have too serious outcomes. 

Card

 Here is the golden section pattern that proves XRP might soar:

However, it’s simply an amateur approach: what works with fiats might not work with altcoins at all. 

Better make mid- and short-term predictions based on traditional technicals, such as Fib levels:

XRP won’t grow overnight 

The short-term XRP price predictions are positive:

But simple moves to $0.4-0.5 won’t make any serious difference. As for higher XRP levels, there is no 100% confidence that we can reach them in 2019.

Don’t rush to the conclusions

All in all, time will show whether Ripple is able of groundbreaking moves. Right now, there are no signs of Ripple going to the ceiling. As one Twitter user ironically noticed, Ripple will discuss how liquidity has changed before they know the numbers:

👉MUST READ

Has #XRPArmy Turned Against Ripple? Not Really

Has #XRPArmy Turned Against Ripple? Not Really

The XRP conspiracy theory

This post simply could not stay unnoticed:

What we are witnessing now is how Ripple Labs manipulates its XRP stocks and buys/sells XRP in large amounts to shift the value of the coin. Will their efforts turn out to be fruitful? 

For some reason, XRP gets more attractive for other blockchains’ representatives:

Seems like they know something usual traders aren’t aware of. Does it mean Ripple is preparing for a major breakout? Everything is possible.

Meanwhile, Ripple’s bottom levels keep growing from year to year:

Thus, Ripple Labs keeps actualizing its plans, even though slowly. So even if it’s a non-profitable variant for shorts, it must be a great choice for long-term investors. Patience is the key. 

Cover image via 123rf.com
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings