Ripple (XRP) has already kicked off the altcoin rally. It does come as a surprise considering the change of sentiment that Ripple (XRP) has magically achieved over the past few weeks. As always, the team behind Ripple (XRP) shows a glimpse of its talent. News of partnerships with more financial institutions has sent the price on a bullish spree these past few days. While some may think it is not sustainable and that the price may fall down if Bitcoin (BTC) trade sideways, we believe that is not the case.
Bitcoin (BTC) dominance is on a steady decline. Since the evolution of the altcoin market in 2017, we have seen Bitcoin (BTC) drop from its historical dominance levels towards new lows. The trend is expected to continue for the foreseeable future. This is a favorable development for the crypto community as a lot of good projects will continue to receive the funding they need to contribute to the blockchain industry. Bitcoin (BTC) had a long span of absolute dominance since its inception.
Dogecoin – the cryptocurrency that began as a meme and one that represents cute little Shiba Inus everywhere – has dropped quite a bit. Over the past two months, the currency has been a real surprise in the altcoin space, moving up the financial ladder while other altcoins experienced slips in their attempts for glory. A lot of traders are extremely excited about the recent dogecoin price action. However, can the market hold the bullish momentum?
Not everyone is sold on the future outlook of Litecoin (LTC), the cryptocurrency often considered the silver to Bitcoin’s gold, and some hedge funds have even gone as far as shorting the altcoin near 52-week lows. In a recent report published by Multicoin Capital, a sizeable crypto hedge fund backed by notable VC Fred Wilson with $ 75 […]
It is a rare sight in the crypto community to see Ethereum (ETH) in the green after a long queue of weeks in the red. The daily chart above for ETH/USD shows that Ethereum (ETH) is just a single step away from kicking off the altcoin rally. This chart is the perfect example of how history may not repeat itself but it does rhyme. The pattern of rise before 2018 bears a striking resemblance to the one just after 2017.
The price of Aurora (AOA), a blockchain platform that leverages a delegated proof of stake (DPOS) and Byzantine fault tolerance (BFT) consensus mechanism, has gained 60% over the past 24 hours. After hitting a low of $ 0.008688 Wednesday, AOA has rebounded to $ 0.014648 and currently has a market capitalization of roughly $ 49 million, making it the […]
Many altcoins have posted significant losses in recent days, with ETH currently testing price levels not seen in over 12 months after losing 40% in roughly one week. The declining value of altcoins has also driven BTC to continue to establish new highs for market dominance during 2018.
BTC Gains Dominance
The heavy losses sustained by many leading altcoin markets have led BTC to continue to further its market dominance over other cryptocurrencies. As of this writing, BTC has a market dominance of 57.6% and is trading for roughly $ 6,300 USD.
Ethereum (ETH) creator Vitalik Buterin received significant criticism this week after stating in an interview with Bloomberg that there is no chance for “1,000-times growth” in the cryptocurrency space. Many, including major media outlets, took this statement as an indication that the adoption of the underlying blockchain technology will never see another major spike in growth and even […]
Ripple (XRP) is probably the most bullish looking coin right now. This is because Ripple (XRP) has already complete an almost 92% correction since its fall from $ 3.31 in January this year. In addition to that, as the above weekly chart for XRP/USD shows, Ripple (XRP) has just completed a giant bullish gartley pattern that extends all the way to 2017. This means that Ripple (XRP) can now be expected to begin a new trend at this point and possibly enter another bullish gartley formation.
Analysts are always seeking new ways to assess cryptocurrencies. Different metrics provide insights that can be used to gauge various trends, such as estimating when a particular asset has bottomed out and is due to rise. The Altcoin Correction Index provides an unvarnished snapshot of this year’s worst performing cryptos.
Small-cap altcoin GoChain (GO), a blockchain platform that boasts 1,300 transactions per second, will be listed on Binance this month after winning the exchange’s 9th Community Coin of the Month competition. #Binance Community Coin Round 9 Winner – #GoChain ( $ GO )https://t.co/MxY9uscfRs pic.twitter.com/JA27HJcmgu — Binance (@binance) September 4, 2018 According to the announcement, GoChain beat out 4 other […]
The previous week has been extremely bullish for the cryptocurrency market, as many altcoins rallied as much as 30-50% and Bitcoin retook $ 7,200. However, over the past day, the market has undergone a reasonable period of consolidation. The AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, is currently down 0.55% while Bitcoin is up slightly […]
Most cryptocurrencies remain in an awkward state as of right now. With the Bitcoin price still in the red, it is rather unlikely most altcoins will see any real improvements. In the case of the Monero price, however, there are a lot of improvements over the past 24 hours. A surprising turn of events, albeit one that shows cryptocurrency is about so much more than just Bitcoin and Ethereum.
The price of GoChain (GO), a blockchain platform that boasts 1,300 transactions per second, has surged 143% over the last week after it being announced as a contender for this month’s Binance Community Coin vote, which offers a free listing on the world’s most popular cryptocurrency exchange. We want to thank our community for all the support […]
Bitcoin (BTC) has been through an extensive correction but it is not out of the woods yet. There are still plenty of analysts calling for a $ 3,000 bottom. In normal circumstances, the chances of that happening are negligible. If things remain as they are, there is no reason Bitcoin (BTC) might fall below $ 5,000. However, as we have seen in the past, it does not take much for things to change in this market.
Ethereum (ETH) appears to have reached the full extent of its correction against Bitcoin (BTC). The above daily chart for ETH/BTC shows that the price has been trading in a falling wedge since the month of June and has now reached the end of it. The EMA alignment for ETH/BTC still remains bearish but other factors indicate that a trend reversal is around the corner, not just for Ethereum (ETH) but for the whole altcoin market.
If you’re like me, you’ll be looking at the markets wondering what steps to take next. It looks like the end, right? The markets are down, values are low and altcoins are struggling to materialise. As you know though, this is just temporary, it’s an organic part of the volatile markets and therefore, patience and perseverance will pay off, it’s just a case of holding on and treading water during what looks to be a substantial altcoin crash.
Xapo president Ted Rogers suggested cryptocurrency markets could be facing a “mass extinction event” as Bitcoin’s fresh downturn drags altcoins ever lower.
‘Incredible Opportunity’ To Buy Bitcoin
In Twitter comments August 13, Rogers said current conditions may prove timely for a wipeout involving “90 percent” of cryptocurrency assets listed on Coinmarketcap.
Conversely, he added, Bitcoin trading around $ 6000 provides an “incredible opportunity” to buy.
“We could be in the midst of the extinction-level event for ‘cryptoassets’ that many maximalists have predicted. 90%+ of [the CoinMarketCap] list will disappear eventually – might as well happen now,” Rogers wrote.
The bullish cryptocurrency year of 2017 has attracted a vast range of worldwide projects and attention. Now that this industry has a $ 300+ Billion market capitalization, there’s one question growing larger with economists and tech watchers: What is the real economic value of these Blockchain startups and how will they make an actual impact on our lives? How will they perform over time and will they manage to keep up with the promises they made during their ICOs?
These burning questions cannot be answered with discussions. They can be answered with actual product usage and roadmap execution. Knowing when a project falls short with those is critical for safeguarding your investments throughout the bumpy 2018.