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

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

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

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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.

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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.

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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.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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