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September 2019 Altcoin Top 5 Performers: EOS, XLM, XRP, LINK

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The Bitcoin price began the month of September with a gradual increase. However, on September 24, a rapid downward move ensued. This flash crash was present throughout the cryptocurrency market. However, most alternate coins (altcoins) have rebounded better than Bitcoin.

In this article, we are going to analyze the top five altcoin performers in the month of September. They are chosen out of the top 15 digital currencies ranked by market cap, so smaller altcoins which might have had massive increases are excluded from the list.

The highest risers are given in the table below.

AssetPercentage Increase
Ethereum20.51%
ChainLink16.20%
XRP14.00%
Stellar11.42%
EOS4.31%

Additionally, the exact altcoin price movements are given in the image below.

ETH/BTC September Performance

In the image presented in the introduction, the price movement of Ethereum is represented by the yellow line.

The Ethereum price began to increase on September 6, before reaching a high on September 20. Also, ETH handled the September 24 crash very well — rebounding after only three days.

One reason for the 20 percent increase in the price could have been investors’ future expectations following the announced hard fork. While the fork was expected to be launched on October 13, it was delayed to October 30. The main change resulting from it is the switch from Proof-Of-Work to a programmatic POW. This is aimed to level the playing field when it comes to using different GPUs for mining the coin for decentralized applications.

ETH/BTC October Prediction

Looking at the weekly chart, we can see that Ethereum has been trading inside a descending wedge since September of 2018.

We do not expect ETH to break out in October.

The main reason for this is the low volume in the current upward move.

In order for the Ethereum price to move out of a pattern it has been trading for more than a year, much higher volume will be required.

Additionally, while the RSI has moved away from its oversold territory, it seems to have stalled around 40.

Furthermore, there is no bullish divergence.

Throughout October, we expect the price to be rejected by the resistance line before decreasing to around ₿0.020 — where it is likely to finish the month.

LINK/BTC September Performance

In the image presented in the introduction, ChainLink (LINK) is represented by the purple line.

Unlike the other coins analyzed, the price of the LINK token decreased until September 16. It has been increasing since — completely neglecting the September 24 flash crash was nonexistent.

One of the main reasons for the September increase have been that the network is growing significantly and the number of large transactions has more than doubled.

We discussed these and other possible reasons in more detail here.

LINK/BTC October Prediction

The LINK price reached a high of nearly ₿0.0004 in the beginning of July.

The September increase caused it to break out above the descending resistance line and head for the July highs.

However, trading volume on the recent movement has been extremely weak. Additionally, we have developing bearish divergence in the RSI.

This makes us believe that LINK will not reach a higher high. Rather, it is likely to decrease towards the support area at ₿0.000250 and possibly fall to ₿0.000150.

XRP/BTC September Performance

In the image presented in the introduction, XRP is represented by candlesticks.

XRP began to increase on September 4 and reached a high on September 18. Afterward, it began a decrease which culminated with the September 24 flash crash.

XRP has been increasing since and the price at the end of September was the highest recorded in the month.

One of the reasons for the increase of XRP, especially towards the end of the month, could have been the acquisition of the tech company Algrim.

Additionally, the Swell conference, which is considered the biggest XRP conference of the year, is set to be held in November 2019.

Last year, the rate of increase for XRP similarly accelerated in the months preceding the conference.

XRP/BTC October Prediction

In the weekly time-frame, XRP has just moved above the 10- and 20-week moving averages — which have started to turn upward, possibly setting up for a bullish cross.

Additionally, this move was preceded by bullish divergence in the RSI.

For the rest of October, we expect the XRP price to move towards the resistance areas.

We expect a price between ₿0.0004-₿0.0005 at the end of the month.

XLM/BTC September Performance

In the image presented in the introduction, XLM is represented by the white line.

The price movement was very similar to that of XRP and ETH. However, the September 19 high was the highest reached from the coins we analyzed — but the September 24 crash was steeper for the lumen (XLM) and the ensuing rebound weaker.

The increased performance in the middle of the month can be attributed to the Binance announcement of an airdrop in early September, which may have helped bolster the Stellar network.

Binance distributed 9,500,000 XLM to everyone with at least 10 XLM in their Binance exchange wallets

XLM/BTC October Prediction

The Stellar Lumens price has recently broke out from a descending resistance line and moved above its 100-day moving average.

It is approaching the resistance area outlined below.

However, there is some bearish divergence developing in the RSI.

This makes us believe that the Stellar Lumens price will not break out above the resistance area.

We expect the XLM price to reach it and decrease slightly — finishing the month at around ₿0.00000950.

EOS/BTC September Performance

In the graph presented in the introduction, the price movement for EOS — an Ethereum competitor for smart contracts — is represented by the green line.

EOS increased gradually until September 19, before beginning a gradual downtrend.

After the September 24 flash crash, the rebound was extremely weak — causing EOS to lag behind the other coins.

The September performance could have been tied to the announcement by Monster bytes that they will create a token for the internet gambling industry in the EOS platform.

The initial exchange offering was made on September 16 and preceded the high reached on September 19.

EOS/BTC October Prediction

Looking at the daily chart we can see that EOS has been following an ascending support line since the beginning of September.

Additionally, the 10- and 20-day moving averages have just made a bullish cross.

This makes us believe that EOS will eventually break out above the first resistance area and head for the second one.

For the end of October, we expect a price of around ₿0.00044 for the digital asset — which may or may not be in line with other EOS price predictions.

Summary

A table with our predictions for the month of September is given below.

Asset Price (+/- 10%)
Ethereum₿0.020
ChainLink₿0.0002
XRP₿0.000045
Stellar₿0.0000095
EOS₿0.0004

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Crypto Mom: Big Brother Is Heading to Your Local Broker Courtesy of the SEC

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The U.S. Securities and Exchange Commission will facilitate a massive government surveillance program to track trades.

The consolidated audit trail project (CAT), first approved by the SEC in 2012, will trace all equity and options trades executed on U.S. exchanges, consolidating them on a single database controlled by the US government.

CAT is designed to track illegal or manipulative trades and to give regulators the data they need to determine the cause of any large market movements, such as the flash crash of May 6, 2010 that saw about $1 trillion in U.S. equity value evaporate from the Dow Jones industrial average in roughly 30 minutes.

Broker-dealers will now have to start submitting trades to the CAT database in April of 2020, pushing the latest deadline of November 2019, according to a report by Pensions & Investments.

Says SEC Chairman Jay Clayton,

“CAT needs to be implemented without further delays. The proposed amendments are designed to bring greater transparency and accountability to the implementation of the CAT.”

In a recent blog post entitled This Cat is a Dangerous Dog, Commissioner Hester Peirce, known in the cryptocurrency community as ‘Crypto Mom’ for her pro-Bitcoin stance and for expressing her concerns about regulatory overreach, says the program is akin to the government setting up a direct feed from your car’s GPS to interrogate you about any of your travels.

“The federal government is forcing every broker in the United States to turn over every investor’s trades from start to finish to a database that the SEC and private regulators will be able to mine for data and analyze. Your broker cannot opt out, and neither can you, unless you stop trading in U.S. markets.

People working for over a dozen different organizations in the public and private sector will have access to the data, and there are few concrete parameters on how they can use it.”

On Friday, Jay Clayton along with US regulators from the U.S. Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN) issued a joint statement addressing cryptocurrencies and the obligations of platforms involved in trading such assets.

The statement is intended to “remind persons engaged in activities involving digital assets of their anti-money laundering and countering the financing of terrorism (AML/CFT)obligations under the Bank Secrecy Act (BSA).”

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Crypto Market Update: Focus on BTC, ETH, XRP, LINK, and DOGE

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This article provides a quick overview of how the crypto markets have been doing—with the focus on Bitcoin (BTC), Ether (ETH), XRP, Chainlink (LINK), and Dogecoin (DOGE)—over the past 24-hour period.

To give you a rough idea of how well the crypto markets are doing today, 17 out of the top 20 cryptoassets (by market cap) are currently in the green (against the dollar).

All market data used in this article was taken around 13:25 UTC on 13 October 2019 from CryptoCompare, which also generated the price charts shown in this article.

Bitcoin (BTC)

BTC-USD 24 Hour Chart - 13 Oct 2019.png

Bitcoin (BTC) started the weekend at $8,295. In the past 24-hour period, it has gone up 0.89% to reach $8,441, which is the highest price it has been so far this weekend. Bitcoin’s market cap dominance is currently 66.78%.

Around one hour before this article was published, crypto trader Josh Rager offered this technical analysis of BTC-USD:

On October 11, blockchain analytics firm Glassnode had a look at how the number of Bitcoin addresses holding more than 1000 BTC has changed between the start of 2015 and now:

Ether (ETH)

ETH-USD 24 Hour Chart - 13 Oct 2019.png

Ether is currently trading at $184.11, up 0.19% in the past 24-hour period. 

According to crypto analytics firm The Tie, their (social media) sentiment analysis of Ether says that its current sentiment score is 86.38 (i.e. strongly positive).

XRP

XRP-USD 24 Hour Chart - 13 Oct 2019.png

XRP is currently trading at $0.2783, up 1.5% in the past 24-hour period. In the past 7-day period, the XRP price has gone up 7.45%.

On October 9, Cape Town-based FinTech startup Xago announced the launch of its XRP-only gateway and exchange in South Africa:

Chainlink (LINK)

LINK-USD 24 Hour Chart - 13 Oct 2019.png

Although profit taking has resulted in the LINK price going down f11.6% from its week-high of $2.90 (achieved on October 9) to $2.563, where it is now, LINK has still managed to rack up impressive gains of 32.48% and 52.46% in the past 7-day and 30-day periods respectively.

On October 10, on day three of this year’s Devcon conference in Osaka, Japan,  Sergey Nazarov, the CEO of Chainlink announced that his company will be launching seven new price reference data oracle networks on the Ethereum mainnet for cryptoassets BTC, DAI, USDC, ZRX, REP, WBTC, and BAT in addition to the one that is already live for ETH.

Chainlink explained on Twitter the purpose for launching these new price reference data oracle networks:

  • “The new price reference data oracle networks are designed to give back to the Ethereum community & to grow the #DeFi ecosystem by giving developers easy access to high-quality pricing data that has been verified by the most decentrally secure oracle network.”
  • These new reference data sets provide high-quality data to DeFi leaders like @compoundfinance and @synthetix_io and are available to all projects.”

Dogecoin (DOGE)

DOGE-USD 24 Hour Chart - 13 Oct 2019.png

Surprisingly, the highest gainer today amongst the top 30 cryptoassets (by market cap) is Dogecoin, which has gone up 12.24% in the past 24-hour period.

Source: cryptoglobe.


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Not All Altcoins Are Rekt: These 5 Cryptos Have Given 3-13x ROI in 2019

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Bitcoin has forever been the undisputed king of the decentralized digital economy. Granted, the rest of the pack lags far behind both in terms of popularity and market cap, but that certainly doesn’t justify the ridicule altcoins are often subject to.

That is not to suggest that there aren’t worthless and deceptive altcoins out there — but at the same time, it is perhaps for the greater good of the asset class to give credit where it is due.

A closer look at their performance, starting from the more established altcoins such as XRP and ETH, all the way down to the outright obscure ones like TitCoin or PutinCoin, it is obvious that a sizeable number of them are doing extremely well.

altcoins

Altcoins That Gave Massive ROI in 2019

Unbeknownst to many casual traders, there are several altcoins that have been consistent performers through most of 2019. On that count, it is perhaps safe to assume that their growth is not just a fluke or the obvious byproduct of market manipulation.

Take, for example, the case of Chainlink (LINK). It started the year at just about $0.29 per unit but climbed all the way up to almost $3.90 by the end of H1 2019. Sure, it has plummeted since, but only compared to its all-time-high.

Traders who got themselves a LINK stash at the start of 2019 and sold it off on June 30 made about 13,500% gain on their investment. Currently around $2.70 per unit, even now LINK is up over 900% compared to where it started the year.

ChainLink

LINK is not the only altcoin to have delivered double-digit ROI in 2019. Love it or hate it, Binance Coin (BNB) has been another top-performer through most of the year, despite its spectacular fall from its all-time high (ATH) of $43 earlier this June. As of press time, BNB is trading at just over $17, up nearly 300% compared to its valuation on Jan 1, 2019.

BinanceCoin BNB

Ravencoin (RVN) is another such example, having started the year at about $.013 and then going all the way up to $0.074 in early June. Currently, it is hovering around the $0.04 level.

Other examples of similar lesser-known, but high-performing altcoins in 2019 include Constellation (max gain over 650%) and Republic Protocol (670%+).

Note that BeInCrypto is not associated with any of the aforementioned cryptocurrencies in any capacity and the info herein shouldn’t be taken as investment advice. Use your own discretion to evaluate if they fit your investment portfolio and risk allowance.

With that said, the broader point remains that there are still many altcoins out there that have been performing consistently well and might end up being worthwhile investments for the strategic investor.

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