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TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin’s Dominance is Below 70%, Altcoins Are Back to a Sideways Trend  

  • Denys Serhiichuk
    📰 News

    Bitcoin keeps fighting for $10,000. Can altcoins use it to show growth?

TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin’s Dominance is Below 70%, Altcoins Are Back to a Sideways Trend  
Cover image via 123rf.com
Contents

At the beginning of this week, top altcoins showed steady growth amid stagnation of the main cryptocurrency. However, now, most of them are located in a sideways trend, except for ADA and EOS, which rates have gone up by around 5% and 3.64% respectively. 

Top 10 coins by coinstats

The main data of the top 3 coins are looking the next way.
 

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$181 975 517 318

$10 138,87

$13 926 682 387

-0,71%

Ethereum

ETH

$23 477 148 046

$217,73

$7 903 149 066

0,82%

Ripple

XRP

$12 616 811 459

$0,293039

$1 458 625 048

0,43%

BTC/USD 

Our recent Bitcoin price forecast justified itself as the rate bounced back from $10,000 and fixed above it. Bitcoin quotes, even taking into account the crazy volatility, keeps moving within the framework of the Triangle technical analysis model, which often ends in bullish dynamics.

BTC/USD chart by tradingview

On the graph, one can note a narrowing of the boundaries of the Bollinger Bands indicator, which usually ends with powerful dynamics. If the Bitcoin price goes above $11,000, the bulls are likely to fix profits at the levels of $12,000, the areas of $13,000– $13,360, as well as at the zone of $14,400, $15,000 and $16,100. If bears seize the initiative, the first target will be the $8,000 area and the 200-day Moving Average line.

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Bitcoin is trading at $10,113 at press time.

ETH/USD 

In the last trading sessions, Ethereum has been showing a steady upward trend, which allowed quotes of the second cryptocurrency capitalization to overcome the consolidation boundaries of $194– $200 and the level of $221.

ETH/USD chart by tradingview

There is ongoing consolidation near the last level which may result in a decline. This is indicated by a potentially forming bearish divergence between the price on the chart and the MACD oscillator. In this regard, it could lead to a short-term decline to around $200.

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Ethereum is trading at $217.76 at press time.

XRP/USD

XRP has become one of the growth leaders since cryptocurrency has been developing consolidation since mid-July without a strong change in value.

XRP/USD chart by tradingview

XRP quotes not only reached the first goal in the form of a local extremum region of $0.2860 but also realized expectations for testing $0.35 - where is the 200-day Moving Average line, overcoming which gives a signal about a trend reversal in the technical analysis. Successful consolidation above this mark in the long term will push the XRP price further to the level of $0.3630.

XRP is trading at $0.2923 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
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    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
Cover image via www.123rf.com

China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

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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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