🔥 TOP STORY
[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!
[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!

Western Union Says ‘Bring On the Blockchain’. Ripple Happy to Oblige

  • Thomas Hughes
    📈 Price Predictions

    Ripple’s XRP added more than 20% during the last 7 days and almost 12% during the last 24 hours alone, currently trading at 0.38 against the US dollar

Western Union Says ‘Bring On the Blockchain’. Ripple Happy to Oblige
You may also like:

Payment processor giant Western Union recently stated they are ready to adopt cryptocurrency transfers as they already operate with 130 currencies, and technology-wise, it wouldn’t be a problem for them.

The company also mentioned it could bridge the gap between crypto and cash, and that it has been testing Ripple’s xRapid since 2015; however, the first tests were early and potentially “too small” for a clear conclusion to be drawn.

For the time being, Western Union is closely watching crypto market developments and has not yet made a decision regarding digital coin integration. However, if they choose to add crypto transfers, it will probably take a long time, so I don’t expect to see it functional by the beginning of next year.

Chart Analysis – XRP/USD

XRP/USD chart

Ripple’s XRP added more than 20% during the last 7 days and almost 12% during the last 24 hours alone, currently trading at 0.38 against the US dollar. The rally began after a false break of the key support level at 0.30, which triggered a sharp rise and a break of the resistance zone between 0.33 and 0.35.

That previous resistance has now turned into support, so we can expect it to stop falling prices in the future, but the immediate target for now is 0.40, which is both a confirmed technical resistance as well as a psychological level.

If the pair goes straight into 0.40, we can expect a bearish correction there, mainly because the price increased rapidly in a short amount of time and the pair is now overextended. This is also indicated by the position of the Relative Strength Index, which has crossed its 70 level twice, indicating overbought.

Support zone: 0.33 – 0.35

Resistance zone: 0.40

Most likely scenario: move into 0.40 followed by shallow retracement or sideways movement

Alternate scenario: drop into support

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!
👓 Recommended articles

[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!

  • Denys Serhiichuk
    📈 Price Predictions

    💸🤑More than 1 year ago, Bitcoin cost $10,000. Despite the fact that the most popular cryptocurrency and the whole market was in a bearish trend last year, there are still positive forecasts from experts for 2019. We prepared a Bitcoin price analysis to show that both technical and fundamental factors can get BTC back to the important level of $10,000

[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!
You may also like:
Contents

Bitcoin is still the most popular cryptocurrency in the world. This year marks 10 years since its creation. Last year was not the best for cryptocurrency holders. After a long lull, many hope the value of Bitcoin will increase. There is reason to believe that in 2019 the cost of this cryptocurrency will reach $10,000.

Causes of the possible comeback

In favor of the appreciation of Bitcoin, many analysts of Forbes magazine offer negative forecasts of other cryptocurrencies. According to them, they will gradually lose their popularity. Fewer people trust altcoins. Forbes analyst Naeem Aslam argues that the cost of Bitcoin will not fall below $2,000 and may well overcome the mark of $10,000.

BTC Price Analysis

Analyst and expert in the field of cryptocurrency forecasts Kevin Cook notes that this month the volume of BTC transactions is on the rise and over the past five months has grown by 150%.

Thus, today it is impossible to say that Bitcoin is losing popularity.

On the contrary, its dominance in the cryptocurrency market is almost 51%, which allows the cryptocurrency to remain the focus of attention of potential investors.

Recently, a well-known BTC supporter, Tom Lee, suggested that the fair price for a popular digital asset should be between $5,000 and $20,000.

Tim Draper, a widely known crypto-optimist, also confirmed his forecast for cryptocurrency and expects its value to be $250,000 by 2022.

Bitcoin in 2019: what to expect?

The rapid growth of the Bitcoin rate can contribute to its implementation into the economy as a means of payment, and not as a stock exchange instrument. Optimism is added by plans of some large businessmen to accept Bitcoin. Although it was conceived as an independent currency, its entry into the world financial system would breathe new life into it. Now the US Securities and Exchange Commission is considering the possibility of creating Bitcoin ETFs. The decision is likely to be positive. This will attract several hundred billion dollars of investments and will have a positive effect on the cryptocurrency rate.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.
👓 Recommended articles