0
📰 News

Bitcoin Starts Q4 on a High Note, EOS, Ethereum, Ripple's XRP, and Other Top Altcoins Follow Suit with Solid Price Gains

  • 📰 News

    The cryptocurrency market is slowly getting back on its feet after a brutal sell-off. Will this trend persist during Q4?

Cover image via www.123rf.com
Contents

Despite many doom-laden predictions of bargain hunters, it looks like Bitcoin (BTC) will not fall to the $7,500 level (at least in the short-term).

The crypto king saw a 7.83 percent price increase over the last 24 hours, according to CoinStats data.

Bitcoin’s speedy recovery
Image by coinstats.app ​​​

👉MUST READ

Bitcoin May Resume Bullish Pressure Due to RSI Oversold Level: Forbes Analyst

Bitcoin May Resume Bullish Pressure Due to RSI Oversold Level: Forbes Analyst

Bitcoin bulls staging a revival

As reported by U.Today, BTC registered a weekly close below the pivotal $8,000 level, which could be a precursor to more selling pressure. After dipping to a local bottom of $7,710 (it’s the lowest point in 3.5 months), the price managed to rebound, surging to $8,400 on Oct. 1.

At the time of writing, the top coin is changing hands at $8,439 after ending its two-quarter winning streak.

👉MUST READ

Bitcoin May Resume Bullish Pressure Due to RSI Oversold Level: Forbes Analyst

Bitcoin May Resume Bullish Pressure Due to RSI Oversold Level: Forbes Analyst

XRP on the verge of a trend reversal

Speaking of the broader market, altcoins are also in the green. Tron (TRX) and EOS (EOS) are in the double-digit territory, surging by 12.82 percent and 11.01 percent respectively.

Bitcoin and top altcoins are in the green
Image by coinstats.app

According to crypto trader Luke Martin, Ripple’s XRP is inching closer to form a rounded bottom. Once this pattern is complete, traders should expect the XRP price to break out given that it would confirm a trend reversal.

Unlike Bitcoin and some of the top altcoins, XRP barely registered some gains in Q2 and reached a new yearly low in Q4.

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

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

This block is broken or missing. You may be missing content or you might need to enable the original module.
Recommended articles
0
📰 News

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • 📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.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.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

👉MUST READ

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

This block is broken or missing. You may be missing content or you might need to enable the original module.
Recommended articles