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TOP 3 Price Predictions: BTC, ETH, XRP — Trying to Catch the Last Bullish Train to $9,000

The correction has begun. What levels should one should pay attention to when it comes to Bitcoin, Ethereum, and XRP? .

Today, the cryptocurrency market is mostly in red territory, with the market capitalization dropping from the $250 billion mark to the $244 billion mark. EOS (EOS) is the only coin located in the green; however, it is unlikely to build any resistance if the bearish wave continues.

Top 10 coins by Coinstats

Top 10 coins by Coinstats

Below is the main data on how the top 3 coins are looking today:

NameTickerMarket CapPrice Volume (24H)Change (24H)


Our earlier scenario about Bitcoin (BTC) reaching the $8,750 level has come true. With the start of the expected correction, the Bulls have been unable to fix above the $9,000 mark.

BTC/USD chart by TradingView

BTC/USD chart by TradingView

The price of the leading crypto fell below the 200-Day Moving Average (MA) to $9,180, which has been serving as a level of support for almost two weeks. Having overcome the crucial $9,000, BTC found short-term support in the form of the 100-Day MA on the 4H chart, forming the downward triangle’s lower border👉MUST READ

BTC will soon be testing the $8,400-$8,600 area, with lower border corresponding to a Fibonacci ratio of 61.8%.

At press time, BTC is trading at $9,012.


Even though Ethereum (ETH) is in a much better position than BTC, it has been unable to withstand the general bearish trend.

ETH/USD chart by TradingView

ETH/USD chart by TradingView

Looking at the 1D chart, ETH is located between the $165 support level and the $195 resistance level. Looking at a short-term scenario, ETH is about to retest the support level because the trading volume is decreasing steadily. What is more, the Ichimoku Cloud is bearish, confirming an upcoming decline. 

At press time, ETH is trading at $183.44.


In comparison to BTC and ETH, XRP (XRP) is today’s biggest loser. Its rate has plummeted around 4% since yesterday.

XRP/USD chart by TradingView

XRP/USD chart by TradingView

Of the top 3 coins, XRP is only coin whose trading volume remains relatively high against the ongoing drop. XPP is also about to meet resistance at the $0.2650 mark. If the rate does not go below it, then one is likely to see an upswing to $0.30.

At press time, XRP is trading at $0.2771.

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Brazil’s Stringent Crypto Tax Regulations Pushes Crypto Exchanges Out

Brazil is undergoing a bit of a crypto revolution. Like most countries, the government is trying to stem the growth of cryptocurrencies through strict rules. However, unlike a lot of countries with this problem, the Brazilian government made some significant progress in regulating the cryptos space. Last year, the government formally opened an inquiry into some of the most rampant crypto scams in the country and immediately adopted policies to police the cryptocurrency industry and the companies that exist within it.

Tax Obligations are Too Much to Bear

Now, some of the exchanges based out of Brazil want to shut down under the threat of significant fines and taxes being imposed on them. According to a report, two popular exchanges have announced plans to close their doors, as progressive crypto regulations from the government have started to affect them. 

One of the exchanges was Acesso Bitcoin. In an interview with local news source Portal do Bitcoin, exchange chief executive and co-founder Pedro Nunes said, “After the Federal Revenue Service introduced these rules, we noticed a significant decrease in the traded volume. We also feel that the market has cooled off for smaller exchanges.”

 The second exchange, known as Latoex, was recently issued a suspension order by Brazil’s Securities and Exchange Commission. If it doesn’t comply with this suspension, the firm could be charged 100,000 Brazilian real (about $23,150). Instead of risking this, the exchange has decided to shut down as well. 

The Crypto Space is Experiencing Growth Pains 

Currently, Brazil doesn’t have sweeping cryptocurrency regulations. However, all exchanges in the country are made to fall under the jurisdiction of the Normative Instruction No. 1888- a regulatory guideline that was issued by the Brazilian Department of Federal Revenue on May 3, 2019. Under Brazilian law, individuals who make crypto transactions worth more than 30,000 Brazilian reals in exchanges outside the country- or who make crypto transfers over that value without going through exchanges- will need to report their operations. 

As for customers of Brazilian exchanges, there won’t be a reporting obligation because the exchanges themselves are required to report all their operations. Any exchange found to be in violation of these laws could face hefty fines. 

Exchanges being hit hard by reporting obligations are fast becoming the order of the day for the global crypto space. Several exchanges across the European Union have already shut down due to the requirements of the Fifth Anti-Money Laundering Directive (AMLD5) and the travel rule from the Financial Action Task Force (FATF), both of which require exchanges to provide information on their customers who make transactions above certain thresholds. 

While it’s understandable that governments will want to stem the growth of crypto-enabled criminal activity, there’s also the fact that companies are being put out of business and innovation in the cryptos pace is being stifled. Surely, there could be a middle ground for everyone.

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The Rundown

  • $1 Million Worth of Crypto Potentially Lost
  • The Blame Game
  • The Affluent Owner
  • Fingers Crossed Its Not Another Crypto Scam

Israeli crypto wallet and quasi-exchange, BT360 has left users concerned for their funds after its website and social media accounts were taken down. Clients have also claimed that wallets created by BT360 cannot currently send funds out, causing some to fear an exit scam.


While not the largest exchange in the world, investors are assumed to have each invested thousands of shekels, with a shekel currently being worth around $0.30. This could see the damages reaching as high as the equivalent of $1 million.

With the website being offline, along with social media account silence and error messages in the mobile app, many clients are fearing the worst.


The listed CEO of BT360, Erez Fishler has a history of bankruptcy filings and has previously been suspected of fraud.

When contacted, Fishler claimed to be simply an employee of BT360, but hadn’t been working there for a few weeks. He said that he had had a recent confrontation with the company’s owners over some problematic crypto transactions and resigned.14 BTC & 30,000 Free Spins for every player, only in mBitcasino’s Crypto Love Affair! Play Now!

I did not have access to the company’s bank accounts and I was not authorized to sign. I did not know if the balances in the company account to which the funds were deposited were identical to the balances in the wallets. I do not know what is kosher and what is not, and did not suit me to continue the role in such a way.

He also claimed that the company had affluent family owners, and supposed that they would handle the matter.


BT360’s owner, Eyal Sade, suggested that Fishler was guilty of mismanagement, saying that the company’s compliance officer and attorney were currently investigating “to see what Fishler did within the system.”

However, he seemed to suggest that the current media silence and lack of crypto wallet functionality would indeed be addressed in time.

We decided to shut down the servers so there will be no further actions we can’t follow. Once we get answers we can bring the system back up and the platform will continue to work. All customers talk to me directly and receive answers and they have to wait patiently and things will work out.


Unfortunately, exit scams are still a reasonably common occurrence in the crypto-space, with a BitMEX fund trader absconding with $380k of his investors BTC just before Christmas.

Let’s hope that this issue is resolved positively for BT360’s users, as owner Sade promises.

Positive outcomes are not unheard of, and community pressure can often help. In early December, former Dash Senior Advisor, MooCowMoo, resurfaced to return investors cash, following a lengthy disappearance and radio silence.

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Why TRON, XRP, and Cardano (ADA) just plunged 12% in a severe altcoin correction

Major alternative cryptocurrencies (altcoins) including TRON, XRP, and Cardano (ADA) dropped by more than 12 percent against the USD on the day. The move follows a strong 50 to 90 percent upsurge within a span of two months.

A big upsurge is often supplemented with a big correction

In the past two weeks, while the Bitcoin price increased by 14 percent, TRON, XRP, and Cardano surged by around 30 percent on average.

As the Bitcoin price reclaimed $10,000, which is widely considered to be a psychological level by traders, the cryptocurrency market started to rebound. Traders started to become more confident in the bullish market structure, taking the market cap of the entire cryptocurrency market from $256 billion to $307 billion in about ten days.

The market quickly became overbought, leading most technical indicators like the relative strength index (RSI) and other momentum oscillators to show signs of an imminent pullback.

In an upward trend, altcoins tend to front-run bitcoin and surge faster than the dominant cryptocurrency. In the latest bull trend, for instance, the price of Ethereum started to rise first with bitcoin following the price trend of Ethereum.

During a bearish trend or a pullback, altcoins tend to depend on bitcoin for short-term price movements.

Although the bitcoin price briefly surged past $10,000 on the day immediately after the opening of the CME bitcoin futures market, it demonstrated a steep sell-off right after it. Consequently, altcoins like XRP, TRON, and Cardano pulled back, recording significant volatility in a short period.

Josh Rager, a cryptocurrency technical analyst, said that after the daily close earlier today, the bitcoin price was at a crucial support level at $9,800.

As Bitcoin struggled to hold $9,800 and corrected to the $9,600s, even major altcoins with relatively high liquidity in the likes of XRP plummeted with little to no reaction from buyers.

Rager noted:

“Bullish – nice 4 hr & daily close to end Sunday, bounced at key area of $9800 (HVN). Bearish – still forming lower highs/lower lows on intraday charts, CME price pullback from $10,075. less premium Still needs to hold $9800+ on HTF or we’ll still visit $9,300 to $9,550.”

bitcoin xrp
Bitcoin briefly rejected the $9,800 support level, causing altcoins like XRP to plunge (source: Josh Rager Twitter)

If the Bitcoin price rebounds in the short-term, altcoins are likely to be the biggest beneficiaries of it.

Why altcoins like XRP fell so hard

However, due to extremely high funding rates, XRP fell by 22 percent within 24 hours, causing havoc in the market.

A funding rate on margin trading platforms like BitMEX and Binance Futures refers to a system that lets long holders or short sellers pay each other based on the state of the market.

If there are more longs in the market, long holders need to pay short-sellers a certain percentage of their position every eight hours to bring balance in the market. In the case of XRP and Ethereum, funding rates exceed 0.1 percent, which means long holders need to pay short-sellers a significant amount of money to leave their positions open.

That places pressure on long holders to adjust or close their positions, causing a deeper correction in the market.

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