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📈 Price Predictions
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TOP 3 Price Predictions: BTC, ETH, XRP — Trying to Catch the Last Bullish Train to $9,000

ByBit
  • Denys Serhiichuk
    📈 Price Predictions

    The correction has begun. What levels should one should pay attention to when it comes to Bitcoin, Ethereum, and XRP?

TOP 3 Price Predictions: BTC, ETH, XRP — Trying to Catch the Last Bullish Train to $9,000
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.

Today, the cryptocurrency market is mostly in red territory, with the market capitalization dropping from the $250 billion mark to the $244 billion mark. EOS (EOS) is the only coin located in the green; however, it is unlikely to build any resistance if the bearish wave continues.

Top 10 coins by Coinstats

Below is the main data on how the top 3 coins are looking today:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$163,363,719,952

$9,057.79

$21,727,176,436

-2.06%

Ethereum

ETH

$20,033,508,589

$184.69

$8,445,418,269

-1.52%

XRP

XRP

$12,103,288,014

$0.279857

$1,911,740,192

-3.73%

BTC/USD 

Our earlier scenario about Bitcoin (BTC) reaching the $8,750 level has come true. With the start of the expected correction, the Bulls have been unable to fix above the $9,000 mark.

BTC/USD chart by TradingView

The price of the leading crypto fell below the 200-Day Moving Average (MA) to $9,180, which has been serving as a level of support for almost two weeks. Having overcome the crucial $9,000, BTC found short-term support in the form of the 100-Day MA on the 4H chart, forming the downward triangle's lower border.

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BTC will soon be testing the $8,400-$8,600 area, with lower border corresponding to a Fibonacci ratio of 61.8%.

At press time, BTC is trading at $9,012.

ETH/USD 

Even though Ethereum (ETH) is in a much better position than BTC, it has been unable to withstand the general bearish trend.

ETH/USD chart by TradingView

Looking at the 1D chart, ETH is located between the $165 support level and the $195 resistance level. Looking at a short-term scenario, ETH is about to retest the support level because the trading volume is decreasing steadily. What is more, the Ichimoku Cloud is bearish, confirming an upcoming decline. 

At press time, ETH is trading at $183.44.

XRP/USD

In comparison to BTC and ETH, XRP (XRP) is today's biggest loser. Its rate has plummeted around 4% since yesterday.

XRP/USD chart by TradingView

Of the top 3 coins, XRP is only coin whose trading volume remains relatively high against the ongoing drop. XPP is also about to meet resistance at the $0.2650 mark. If the rate does not go below it, then one is likely to see an upswing to $0.30.

At press time, XRP is trading at $0.2771.

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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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Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
    📰 News

    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

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

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

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Peter Schiff Reacts to Sudden Bitcoin Price Drop:

"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

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Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

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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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