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TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Is Forming a Death Cross, Switching the Market to a Bearish Cycle

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  • Denys Serhiichuk
    📈 Price Predictions

    Is there a chance for the market to remain bullish? Are the bears now in control?

TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Is Forming a Death Cross, Switching the Market to a Bearish Cycle
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.

The cryptocurrency market did not show any revival even in the short-term. Yesterday, Bitcoin continued its fall, and its price is currently sitting below the $8,200 level. Most of the top altcoins have followed the price movements of the leading crypto (save for Bitcoin SV whose price has increased by 6.44% over the last 24 hours).

Top 10 coins by Coinstats

The key indicators of Bitcoin, Ethereum, and XRP are looking this way.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$147 694 763 270

$8 207,69

$14 995 380 667

-1,89%

Ethereum

ETH

$19 550 559 352

$180,75

$7 599 730 850

-2,81%

XRP

XRP

$12 492 532 213

$0,289401

$1 642 869 711

-2,54%

BTC/USD 

Bitcoin is moving according to our yesterday's price prediction, and the expected level of $8,000 will be reached soon.

BTC/USD chart by TradingView

On the one day Bitcoin chart, the top coin is forming the death cross pattern as the daily 50 MA is about to cross the 200 MA. Having analyzed the historical data, last time there was a death cross, the BTC price dropped to the $3,000 mark. 

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Bitcoin (BTC) Price Analysis — Holding the $8,300 Support But Likely to Go Down

If such a situation happens again, one is likely to see the leading crypto dropping to $8,000 or even below this level in mid-November.

Bitcoin is trading at $8,169 at press time.

ETH/USD 

Ethereum is the biggest loser today out of the top 3 coins. Its price has decreased by almost 3% over the last 24 hours.

ETH/USD chart by TradingView

Ethereum has found support at $177 - the level ETH has bounced off many times. Even though the long-term forecast remains bearish, the coin might show a slight rise shortly. Such a bullish tendency is confirmed by the MACD indicator which has recently turned green. 

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Ethereum (ETH) Price Analysis — Can Bulls Fix Above the $180 Level?

Ethereum (ETH) Price Analysis — Can Bulls Fix Above the $180 Level?

Moreover, Ethereum is forming the triangle pattern with the high point at $184. This level might be reached in a few days.

Ethereum is trading at $179.42 at press time.

XRP/USD

XRP is trading in line with our recent forecast after the coin failed to fix above the $0.29 level. Its price has gone down by 2.54% over the last day.

XRP/USD chart by TradingView

On the four-hour chart, XRP is looking exhausted. The recent price rise was not accompanied by an increase in trading volume. Thus, the line of RSI is moving down. At the moment, there are no signals that might indicate the growth either in the short or long-term scenarios. Summing up, XRP seems positioned to achieve the $0.28 mark by October 20.

XRP is trading at $0.2865 at press time.

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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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Federal Reserve System: Stablecoins Pose Potential Risks to Financial Stability

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  • Vladislav Sopov
    📰 News

    According to its Financial Stability Report of November 2019, the Board of Governors has warned about the dangers of stablecoins.

Federal Reserve System: Stablecoins Pose Potential Risks to Financial Stability
Cover image via
Contents

The Board of Governors of the U.S. Federal Reserve System have issued their monthly Financial Stability Report. This special report is dedicated to the profits and risks of "global stablecoins".

Stablecoins: Global System with So Many "Ifs"

First, the Federal Reserve admits to the numerous advantages that stablecoins present as a concept. It has been highlighed that stablecoins are "faster, cheaper, and more inclusive payments could complement existing payment systems". This is in comparison to cases where traditional financial institutions are sophisticated and poorly accessible. Stablecoins can also be managed to eliminate the volatility of cryptocurrencies, which is one of the borders for them to be utilized as the medium for exchange.

Therefore, the "global stablecoin initiatives" like Facebook's Libra can rapidly achieve cross-border adoption. However, the major threat for stablecoins is apparent - the "inability to convert in national currency". The loss of confidence in "pegging" the stablecoin to traditional assets can lead to a run, in which several holders will attempt to liquidate their stablecoins at the same time.

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This dramatic scenario may be caused by "poor design and governance", and can result in severe consequences for international economic activity, asset prices, and financial stability.

Transparency First

The Federal Reserve also outlined in its report that in many cases, stablecoins can be utilized for money laundering, terrorist financing, and other financial crimes. Therefore, the Federal Reserve would require operators of such systems to conduct their Due Diligence, as well as Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to avoid any abuse. Moreover, the problems of disclosure policy and protecting investor data should be of paramount importance for stablecoin issuers:

Disclosures should clearly detail consumer and investor rights and protections, including whether the holder of the stablecoin has any rights to the underlying asset. Issuers should be transparent on how the stablecoin is tied to the underlying asset, has been said in the Report.

Last but not least, the report highlighted that the Federal Reserve, together with the Group of Seven, will closely monitor stablecoin developments as well as all the risks associated with it.

Have anyone ever invested in stablecoins? Do you prefer to use it, or to pay extra fees for fiat gateways? Tell us your story on Twitter!

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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