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

Libra Coin News
Tue, 10/01/2019 - 06:05
Alex Dovbnya
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
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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.

Image by coinstats.app ​​​

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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.

Related
Bitcoin Bull John McAfee Urges to Ignore the BTC Price Fall, Stands Firm on $1 Mln in 2020

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.

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.

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.