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TOP 3 Price Predictions: BTC, ETH, XRP — What Signs Will Reveal the End of the Bearish Trend?

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  • Denys Serhiichuk
    📈 Price Predictions

    Bitcoin is pushing the cryptocurrency market down again. Will there be a rescue attempt for the altcoins?

TOP 3 Price Predictions: BTC, ETH, XRP — What Signals Show the End of the Bearish Trend?
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 end of the last week was extremely volatile for the cryptocurrency market as Bitcoin (BTC), the most popular crypto, crashed by about $400 in just a matter of hours. However, the altcoins did not follow BTC’s trend. Currently, the top 10 coins are located in the red. 

Top 10 coins by Coinstats

Below is the key data for Bitcoin, Ethereum, and XRP has changed the following way over the last day.

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$157,790,994,536

$8,746.17

$22,644,934,647

-1.64%

Ethereum

ETH

$20,270,299,136

$186.80

$8,603,961,374

-0.38%

XRP

XRP

$11,869,525,095

$0.274133

$1,574,356,506

-2.85%

BTC/USD 

BTC has followed our earlier scenario, having dropped in price to the $8,600 mark. While the general trend has not switched to a bullish one, the price may shoot back up to the $9,000 mark. 

BTC/USD chart by TradingView

Analyzing the 1H chart, the relative strength index (RSI) indicator shows that BTC is oversold. This means that the price of BTC may rocket upwards in the near future. The Fibonacci retracement is another strong signal that favors an upwards swing in the price. In this particular case, $8,933 (61.8%) is a crucial resistance level that might be achieved soon. 

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Last but not least, the trading volume index shows a significant dominance by buyers against the ongoing drop.

At press time, BTC is trading at $8,711.

ETH/USD 

ETH is the only other top 3 coin whose rate has increased over the last 7 days. While BTC and XRP have declined by 5.70% and 6.80% respectively, the price of ETH has increased around 1%.

ETH/USD chart by TradingView

The chief altcoin is showing significantly better price dynamics than BTC. Looking at the hourly chart, one can observe the shadow of a long bearish candle. This usually means an upcoming bullish wave. The trading volume is also at a relatively high level, confirming that bears are running out of steam. In this particular case, traders might expect ETH to hit a price of $188 by the end of the week.

At press time, Ethereum is trading at $186.15.

XRP/USD

XRP has not show growth or even slight growth against the downfall of the general market. Since yesterday, the coin has lost 2.73%.

XRP/USD chart by TradingView

Even with the sharp upswings and downswings, XRP is the only coin whose trading volume has not declined. On November 8th, the price left its support level to a price of around $0.27. 

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Currently, the situation is almost identical, with the RSI indicator located in the oversold zone. Based on these factors, one might conclude that a resistance level of $0.2750 might be reached shortly.

At press time, XRP is trading at $0.2716.

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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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  • Vladislav Sopov
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    Vitalik Buterin, Co-Founder of the Ethereum Foundation and “father” of Ethereum, sat down with Eric Weinstein on The Portal podcast to discuss “old” and “new” economics.

Vitalik Buterin, Ethereum: Fiat Money Will Not Be Destroyed
Cover image via www.youtube.com
Contents

Two intellectuals, Vitalik Buterin (Creator of Ethereum), and Eric Weinstein (PhD, scientist, and Managing Director at Thiel Capital), recently sat down on The Portal to discuss Mr. Buterin's attitude towards the "classic" economics theory.

Libertarianism and Diversity

When both individuals discussed libertarianism, Vitalik Buterin said that libertarians mostly belong to two large groups characterized as either a "leave me alone'" or "conquer the world" approach. This divergence can be extrapolated into cryptocurrencies in terms of their mass adoption.

Mr. Buterin highlighted that there are participants within the crypto community that are assured that fiat currencies will be destroyed and replaced by Bitcoin (BTC). In general, Mr. Buterin estimated that the prospects of any "short-term disruption" for the sake of some "nebulous long-term gain" is skeptical. He said:

I'm definitely not in the camp that actively relishes that fiat currencies will be destroyed. 

Mr. Buterin added that several members within the Bitcoin community share this belief.

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Peaceful Coexistence

Vitalik Buterin predicts that Bitcoin and other cryptocurrencies will coexist with fiat money and balance the disadvantages of the classic monetary system. He also added that cryptocurrencies will provide "checks and balances" against a government monopoly on "issuing money" rather than "replacing it entirely".

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Mr. Buterin is well-known as a champion of pluralism in future world of cryptocurrency. He is sure that different communities will defend their views on its development.

Will crypto one day replace fiat money? Tell us your opinion 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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