If yesterday almost the whole crypto market was going up, today, only the price of Bitcoin is increasing. All coins out of the top 10 are reducing in their prices, while the biggest loser is Cardano, having lost more than 6% over the past 24 hours.
Against the background of it, the BTC’s domination rate has increased even more and now constitutes 54.3%. All times before, when such a scenario happens people switch again to altcoins. The capitalization of the cryptocurrency market makes up $182 billion.
Yesterday, the coin broke through the resistance of $5,500 and the retest of the upper limit of the green corridor. Now we are expecting an update of the annual maximum in the region of $5,700.
It seems that the quotes of Bitcoin are trading out of logic, as the RSI indicator is showing the overbought, but no rollback occurs. The trading volumes are looking for their maxima; however, one needs to keep a cool head, as buyers can fix their profit at any time.
If the following bullish tendencies continue and the price reaches $5,800, there is a high possibility to see Bitcoin at $6,000 till the end of April.
The price of BTC is trading at $5,615 at the time of writing.
Comparing to Bitcoin, the second most popular cryptocurrency is moving in the directly opposite way. Over the last day, its rate has been reduced by more than 2%.
On the 1-hour chart, we see that the price is on the way to break a support level at $167,25. If that happens, then the next aim is $160. In this regard, bears are dominating in the short-term position.
However, we need to get our attention to the BTC’s domination rate as currently people are not selling altcoins for fiat money but buying Bitcoin instead.
The price of ETH is trading at $170,62 at the time of writing.
The price of XRP almost came back to the position of the first days of April, when its bull run started. Traders and investors are not showing too much interest in the coin, as its market cap has been stagnating since around Apr. 13 at about $13 billion.
Currently, the quotes are trading in the descending channel moving to the next support zone at $0.31, which is confirmed by the MACD indicator.
To talk about a bullish trend of Ripple, its rate should increase up to $0.35 and consolidate there.
The price of XRP is trading at $0.3205 at the time of writing.
Cryptocurrencies price prediction: Bitcoin, Ethereum & Monero – European Wrap – 19 September
Bitcoin (BTC) managed to recover above $9,800 after a bloody crash towards $9.600 during early Asian hours. At the time of writing, the first digital asset is changing hands at $9,860, down 3.5% on a day-on-day basis. Bitcoin’s sell-off triggered a carnage on the cryptocurrency market as all major altcoins collapsed from the recent highs. Bitcoin’s market dominance settled at 67.4%.
The second-largest cryptocurrency with the current market capitalization of $22.4 billion hit $217.60 on Wednesday. While the coin has retreated to $207.50 by the time of writing, the overall sentiments remain bullish as the coin stays above a critical $200.00. ETH/USD has lost about 2.5% on a day-on-day basis amid global correction on the cryptocurrency markets.
Monero (XMR) is one of the biggest losers among top-20 coins. XMR/USD has lost nearly 10% since the beginning of Thursday to trade at $73.64 by press time. While the coin has recovered from the intraday low of $72.80, it is still controlled by bears amid expanding volatility. On a day-on-day basis, Monero is down 1.73%.
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Ethereum to $1,000 Even As Altcoin Rally Stalls, Stellar (XLM) Still Strong, XRP Slips
There was a change in the crypto weather this week, with bitcoin taking a back seat and altcoins powering forward.
That’s been a rare sight this year. Ethereum (ETH), Ripple’s XRP and Stellar (XLM) have been the standout performers.
Ethereum’s gruelling underperformance against bitcoin reversed to the upside this week, with the original smart contract platform breaking back above $200.
On a seven-day view ETH is 16% higher at $209, at the time of writing. However, the bulls may be about to have a breather.
Vitalik Buterin’s tweet about miners increasing the gas limit to ease congestion on the Ethereum network has raised hopes of developers and investors alike. News that the upgrade path to proof-of-stake is still on for next year has helped firm up buying.
Ethereum network activity has just reached an all-time high. Rising Tether usage is thought to be largely responsible.
Ripple’s XRP has bounced 16% off its low to $0.2936 this week, but is down 6% today as it gives up some of those gains.
The flashing green screens for alts have brought with it renewed interest in price targets for a range of top coins.
Price targets for ETH, BNB, XTZ, STEEM, EOS, BTC
Entrepreneur and author William Mougayar made some interesting calls in a tweet yesterday. Here’s his targets:
End of year predictions:
ETH @ $1,000
BTC @ $25,000
ETC @ $50
ATOM @ $20
BNB @ $50
DOT @ $250
EOS @ $7
KIN @ $.0001
STX @ $1.50 (Stacks)
STEEM @ $.50
KIN, the utility token of the Canadian-based Kik messaging platform is certainly a contrarian pick given its ingoing problems with the US Securities and Exchange Commission charges of promoting an unregistered securities sale parent company Kik faces.
Mougayar’s choice probably reflects the fact that KIN is being used in a growing number of apps – both on Kik itself and in third-party apps that have adopted the token. More trivially, like Kik, Mougayar is Canadian.
Also, Ethereum Classic (ETC) is a surprise selection given its paucity of developer support, although it is much-loved by Barry Silbert of Grayscale Investments.
Catching the eye is Ethereum at $1,000 by year end (a 400% gain), which makes its risk-return profile a much more enticing prospect than bitcoin, the price of which he sees doubling from current price levels to $25,000.
Of course, both predictions could turn out to be just more wishful pie in the sky.
Stellar/Keybase airdrop tie-up boosts price, which is weird
Stellar (XLM) is getting a bit of a reputation for mega airdrops. It has previously teamed up on an airdrop with long-time crypto start-up Blockchain.com.
Now it is giving away two billion XLM tokens to users of the Keybase messaging app.
Over a 20-month period 100 million tokens will be dropped each month into the wallets of Keybase’s 300,000 users.
This is all part of the Stellar Foundation’s masterplan to help kickstart promising projects.
Stellar was founded by Jed McCaleb, a co-founder of Ripple, from which he parted company in 2013 under acrimonious circumstances ending in a financial settlement. Stellar was founded the following year and like Ripple’s XRP, the XLM token is focused on disrupting cross-border payments and much more besides.
Normally an airdrop – which is in effect giving away token supply – the price should be pressured lower. Far from falling, instead the XLM price swelled as much as 30% at one stage.
However, the response of market participants has seen buyers in the ascendancy, presumably on hopes for this and further airdrops will actually spur adoption.
As if by way of confirmation that the altcoin season has not yet returned, today’ sees many prices come off the boil. The notable exception among top alts is XLM which is up 12% in the past 24 hours to $0.0843.
Drone attack – bitcoin (BTC) not such a safe haven after all?
Bitcoin has again failed to mark the week with a sustainable push towards $11,000.
Worse, it has failed to hold support at $10,000, falling as low as $9,650 before recovering somewhat to $9,910.
With bullish enthusiasm apparently on the wane, questions about the supposed ‘safe haven’ status of bitcoin were on the agenda this week, courtesy of the drone attack on Saudi oil infrastructure.
Bitcoin did not see prices rise as a response as gold did. Alternatively, the previous safe haven buying was driven primarily by Chinese investors.
The relative quiet on that front may have calmed nerves; so too the slightly less fraught tempo of the struggle in Hong Kong.
Bitcoin is currently trading at $9,900, down around 3% on the day.
Cryptocurrency accepted by more accountancy firms, boosted by blockchain tech – Accountancy Age
Capitalising on the renewed interest in cryptocurrency, mid-tier firm BKL, which has locations in both London and Cambridge, will begin using BitPay to process payments.
To avoid price volatility, customers will be invoiced with a fiat value, with the option to either pay in bitcoin or bitcoin cash. With the conversion rate frozen for 15 minutes, customers know exactly how much they are paying, rather than finding out the final total after the transaction has occurred.
Jon Wedge, financial services partner at BKL, said: “We support people and businesses that work with cryptocurrencies and blockchain, and this move has been driven by demand from our clients.
“It’s a convenient way for many of them, particularly in the fintech and technology sectors, to buy our services.”
Research conducted by Finder.com showed that of the 2,000 UK adults surveyed, 2.85% had bought cryptocurrency in the past, with a large majority (78.95%) having specifically bought bitcoin. While it has not become part of everyday spending for the average UK adult, it is trending upwards—slowly, but surely.
An industry change
While BKL has announced themselves as the first mid-tier accountancy firm in the UK to accept cryptocurrency, the New York Times reported that PwC began accepting bitcoin in 2017. EY joined the Bitcoin Association that same year, and KPMG’s Kuwait branch started accepting bitcoin in late 2017 with Yallabit.
In Deloitte’s Luxembourg office, employees can now pay for their lunches using bitcoin – and PwC has announced that its Luxembourg customers will be able to pay the company in cryptocurrency as of 1 October, 2019.
As the Big Four take small steps forward in the cryptocurrency world, it is an indicator that times may be changing for the industry. In June, PwC announced their Halo tool, offering audit and assurance services for clients with cryptocurrency holdings.
While FCA’s “Final Guidance” release indicated that cryptocurrency has “no intrinsic value” and warns consumers that there are no regulatory protections for cryptoassets, the 10-year-old system has slowly gained popularity since its creation.
In 2018, Millennials led the way in cryptocurrency purchases (4.68%), with Gen X (2.77%) and baby boomers (1.58%) falling behind, according to Finder.com research. However, blockchain—a keystone of cryptocurrency’s proliferation—has begun to become more common, with multiple industries, including financial institutions, instituting it into their systems.
Santander successfully introduced blockchain technology into its system in 2015, and a 2018 executive survey by PwC showed that 84% of respondents were ‘actively involved with blockchain’.
While global integration and acceptance is not commonplace yet, Sonny Singh, chief commercial officer of BitPay, believes that it might be.
“As blockchain ventures continue to proliferate there will be an increasing worldwide demand by vendors to pay invoices in bitcoin,” Singh said.