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TOP 3 Price Predictions for BTC, ETH, XRP: Next Stop for the Bears?

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  • Denys Serhiichuk
    📈 Price Predictions

    Analyzing the reasons for today’s cryptocurrency market decline

TOP 3 Price Predictions: BTC, ETH, XRP — What Are the Next Bears’ Stops?
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.

November 22nd started with a huge market dump as Bitcoin, the top cryptocurrency, lost nearly 10% of its value since yesterday. The altcoins have also followed today's downward trend, as the top 10 coins are all located in the red. 

Top 10 coins by Coinstats

Here is key information about Bitcoin (BTC), Ethereum (ETH), and XRP (XRP).

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$129,201,282,733

$7,153.53

$29,610,280,555

-9.95%

Ethereum

ETH

$16,292,927,175

$149.96

$10,741,686,263

-11.77%

XRP

XRP

$10,151,900,406

$0.234456

$1,818,796,100

-4.67%

BTC/USD 

Our BTC prediction from yesterday came true as the price has almost reached the expected $6,875 mark.

BTC/USD chart by TradingView

Today’s sharp price drop for the leading crypto has more to do with a fundamental reason than a technical one. This mainly happened because of China's policy to ban any providers of crypto transactions to its citizens.

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Looking the 4H chart, BTC has updated the bottom by touching the $7,000 mark. It is unlikely to go any deeper according to the Stochastic RSI and other indicators because they are showing that BTC is oversold. Meanwhile, the $7,500 mark will be retested soon as this previously served as a support level for BTC. A bounce back might occur through the end of the current week.

At press time, BTC is trading at $7,114.

ETH/USD

Compared to BTC and XRP, ETH has faced the biggest price drop (more than 11%) since yesterday.

ETH/USD chart by TradingView

Even though ETH has lost significant value from its shares, it is more likely to return to its previous positions faster than BTC. The last bearish candle has a long wick, which suggests that sellers could not fix the rate below $150 for a long period of time. Moreover, the coin is oversold on all time frames, especially the daily ones. Respectively, this chief altcoin could come back to the $155-$160 range soon.

At press time, ETH is trading at $149.74.

XRP/USD

XRP has shown the best price dynamics against the market decline. While the majority of altcoins have lost about 10%, the rate of the third most popular crypto has been reduced by 5%.

XRP/USD chart by TradingView

XRP has more than justified our previous scenario as the rate has gone far below the $0.24 mark. In terms of a short-term price projection, it is bullish as sellers have almost sold everything, giving a chance for buyers to accumulate positions before an additional decline against the bearish market. To sum it up, a bounce back could push the price up to $0.2450. 

At press time, XRP is trading at $0.2323.

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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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Ethereum’s Vitalik Buterin: Fiat Money Will Not be Destroyed

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  • Vladislav Sopov
    📰 News

    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.

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

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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