Bitcoin Price Jumps to $10,400 Off Strong Support, US-China Trade War Heats Up

Bitcoin Price Jumps to $10,400 Off Strong Support, US-China Trade War Heats Up

Bitcoin is doing what it does best lately – bouncing off $10,000, but it wasn’t just falling below that magical number which brought out the buyers – the US-China trade war is helping too.

A sharp $300 improvement in the past 15 minutes has sent bitcoin to $10,405 at the time of writing.

The rise coincides with the latest developments in the US-China trade at a time when recent bitcoin price action confirms strong support at $10,000.

Bitcoin targets resistance at $10,777 and $11,400

The volume profile’s so-called point of control (red line) that shows the highest level of buying interest for a range of price points, on the 4-hour chart is reading $10,125 – that provide near-term support for bitcoin.

Bearish traders still hope for a dive towards $8,500 but that seems a doubtful strategy as things stand.

However, with bitcoin volatility not waning any time soon, a leg down is still in play at these levels unless bitcoin can take out overhead resistance $10,777 and $11,400 (black dashed lines).

US-China trade war is a bitcoin growth theme

Today’s sharp upturn is possibly linked to the resumption of hostilities in the US-China trade war.

OK, there hadn’t been a prior outbreak of peace but there is hope for a “constructive” meeting of the respective trade representatives of the two world’s two largest economies.

China is introducing tariffs in two batches – on September and 15 December on goods worth $75 billion at rates of 5% and 10%.

In addition, China is slapping a 25% tariff on imports of US autos. Crude oil and Soy beans are the other major casualties.

The US has removed some items and delayed others, regarding the $300 billion September tariff schedule introduction for other goods.

But whether it was the trade war heating up again or merely a rerun of a trading pattern previously seen in buying the dips under $10,000, the current price calms bullish nerves.

Bloomberg analyst expects Binance Venus Stablecoin To Boost Bitcoin

Bloomberg Intelligence analyst Mike McGlone makes the same observation about the resilience of $10,000.

According to a Bloomberg report McGlone far from macroeconomic worries helping bitcoin, he says it is the favourable macroeconomic backdrop that could push prices higher.

In his note he also says he expects the Venus stablecoin launch from Binance to bolster bitcoin price valuation. Venus is seen as a challenging Libra.

“The trend toward stability, an essential ingredient in a median of exchange, is accelerating Bitcoin’s advancement as a digital form of gold,” said McGlone.

The Facebook crypto project has seen substantial regulatory pushback. That may be scaring off the blue chip association members it has signed up to-date.

A report in the Financial Times today reveals that at least three partners are mulling leaving the Libra Association.

Other analysts and commentators continue to see strong forward momentum being generated by the upcoming launch of Bakkt bitcoin physically settled futures.

US and European equities moved lower on the trade news but have since stabilised as market participants await today’s speech by chairman of the US Federal Reserve Jerome Powell.

THREE REASONS WHY BITCOIN PRICE IS BACK UNDER $10K… AGAIN

The early week’s run-up in the bitcoin price has continued to run out of breath as BTC dips back under five figures.

The BTC/USD instrument settled a session low of $9,841.59 at around 16:05 UTC today, establish its five-day low. The pair moved downwards despite having full-backing of strong fundamentals. Late last week, Intercontinental Exchange’s cryptocurrency arm, Bakkt, announced that it had received regulatory approval to launch its bitcoin futures contracts. The platform even finalized the launch-date on September 23, raising hopes of attracting institutional capital to the bitcoin markets.

The benchmark cryptocurrency dropped nevertheless, signifying that investors did not fully digest an otherwise bullish Bakkt announcement. That left the market with a handful of interconnected reasons that attempted to explain bitcoin’s downside sentiment. Here are three of them.

WEAKER GLOBAL SENTIMENT

A global slowdown kept investors’ purchasing sentiment at bay. A majority of them waited for the annual meeting of global central bankers in Jackson Hole, Wyoming, expecting a wave of new stimulus programs to address the recession concerns. Bitcoin appeared as a less-attractive asset for investors who were looking to park their capital in low-risk safe-havens. That explains a surge in demand for US Treasuries, which registered their best month since 2015.

It appears the early week rise in the bitcoin market did not come from the outside by from the underperforming, neighboring cryptocurrencies. Nevertheless, many analysts believe that monetary easing policies would help bring more money to bitcoin, for investors would be able to borrow at lower interest rates.

“Bitcoin’s becoming increasingly a macro hedge for investors against things that could go wrong,” said Thomas Lee, co-founder of Fundstrats Global Advisors. “Rate cuts are adding liquidity. Liquidity is pushing money into all these risk assets and also hedges, which is helping Bitcoin.”

RISING WEDGE ON BITCOIN 1H CHART

Rising Wedge are bearish patterns, characterized by price trending upwards inside a contracting range. The technical indicator typically sends the asset’s rate lower once it reaches the apex of the Wedge. Bitcoin, for all the past few days, was trending inside a Rising Wedge, as shown in the chart below.

Bitcoin breaks down from a rising wedge pattern

The bitcoin price today broke down from the same design, confirming its bias. It explains that the reason for the fall could have been merely technical, and has nothing to do with the cryptocurrency’s longer-term bias. The BTC/USD pair now expects to bounce back from the $9,651 area.

WHALE MANIPULATION

Arguable yet highly likely, the latest bitcoin price drop could have been driven by whales – a slang for investors holding a larger quantity of bitcoins. The early week saw the cryptocurrency rising by more than $800, or circa 8.5 percent, in the wake of Bakkt announcement. It appears that big traders led the price rally, and drove small investors in the ride to the upside. Nevertheless, they exited their long positions right upon entering their target price area. In the entire process, no outside money entered the bitcoin market.

These are some of the possible reasons behind the bitcoin price drop. Have something to add? Then do share in the comment below.

Why do you think Bitcoin has fallen back below five figures again? Add your thoughts in the comment section below!

Bitcoin Closes on $11k as Two Technical Indicators Conflict

Bitcoin has been in a steady uptrend since the weekend. The short term picture looks promising but a conflicting technical signal indicator on a longer term chart could spell the end of the upturn.

Bitcoin Almost at $11,000

A few hours ago during Asian trading, BTC posted a weekly high of $10,950 according to Tradingview.com. The price is back at last Tuesday’s resistance turned support level and up almost 10 percent since the weekend dip. In the hours that followed there was a slight pullback to around $10,800 where Bitcoin is currently trading.

BTC price 1 hour chart – Tradingview.com

The one hour chart revealed a ‘golden cross’ has just formed with the short term 50 hour moving average crossing the longer term 200 hour MA. This is a bullish trend reversal signal for this time frame and has come nine days after the opposing signal on the down trend. The next level of resistance for BTC from here is $11,400, should the trend continue upwards.

Four Hour Death Cross

The longer term four hour chart shows the complete opposite however with the 50 moving average about to cross below the 200 in a ‘death cross’. This usually indicates the continuation of a down trend on this time frame.

BTC price 4 hour chart – Tradingview.com

It should be noted though that these are lagging indicators which derive their positions from previous prices, not future ones. So a cross on the four hour chart does not necessarily mean that BTC is about to dump back to $9,000!

Zooming out to that day chart is still bullish as the uptrend is intact and the six weeks of consolidation at this price range has continued. The market is very choppy at the moment and these price swings are offering no indication of when a sustained movement in either direction will occur. The conflicting crosses just exemplify the current status of the market.

Price does not move in a straight line, as noted by crypto trader ‘BenjaminBlunts’, so patience is the key for those seeking longer term gains.

“pretty much where i feel we are in the $btc cycle, nothing moves in straight lines … you want them sick gains? then be patient, because patience is a virtue.”

There are a lot of fractals in the historical Bitcoin price charts and these repeating patterns are likely to continue as the asset marches upwards. Buying the dip has been advised frequently and those that have done exactly that since the beginning of the year will be sitting pretty right now.

Bitcoin (BTC) Rally Comes To An End As Price Runs Into Strong Resistance

Bitcoin (BTC) made an impressive rally in the past 24 hours but that rally has now come to an end as the price has run into a strong resistance at the 38.2% fib retracement level at the $10.691 level. This is a strong resistance level but it is important to note that the price is currently trading above the 50 day EMA. It shot up past the 21 day EMA as well but it soon retraced below it and is now expected to close the day below both the 38.2% fib retracement level as well as the 21 day EMA. That would formally mark the end of this bullish advance to the upside as further downside follows in the days and weeks ahead.

It is becoming increasingly clear that there is not enough bullish momentum for BTC/USD to rally past the 38.2% fib retracement level towards the top of the descending triangle. The most likely scenario is that the price is not going to rally to the top of the descending triangle and end up crashing below it to find a temporary bottom around in the low $8,000s. This could pave the way for a rally to the upside but investors need to be careful as this move will tilt the balance in favor of the bears and mark the beginning of a more brutal correction. Recently, the Token Plus exit scammed siphoned off more than $3 billion dollars of their victims money. Now that is an obvious exit scam where the team just runs away with your money. However, there are other more organized scams in this space that are yet to unfold.

Amateur con artists run away with investors’ funds but those that are more skilled in the game try to do this Bernie Madoff and Elizabeth Holmes style. They try to sell you a dream and a hope and they dump on you while you buy. Sounds a bit far-fetched? Just do a comparison of market cap and coin supply of most of the ICOs. I know it is going to be hard in some cases to see what time insiders bought and sold but even a look at token supply should tell you what time the founders were dumping tokens on their investors.

In my days as a penny stocks trader, I have seen all kinds of things but usually it is a company pretending to be big. They do not necessarily have the wrong intentions; they just want to get the money to grow. That was wrong too but it comes nowhere close to what we have here. If we take a look at the 4H chart for BTC/USD, we can see that the bearish pennant has been broken to the upside. This is a prime example of a fake out. Market makers are fighting tooth and nail to get traders to buy those coins, preferably on margin so they can dump on them in the weeks ahead. It is important to note that Bitcoin (BTC) could still have a future long term but at this point we are a long way from the end of this bear market just yet.     

Bitcoin: Very Much Likely To Go Above $13k Before The End Of 2019

The price of the top cryptocurrency Bitcoin has been sideways for a while since it dropped from the yearly high of $13,300. It has slumped to mid $9,000s a number of times which some considered an opportunity to buy again.

While some still expect Bitcoin to dip to $8,000 before they buy, a cryptocurrency analyst and trader Josh Rager says it is an unrealistic dream and even buying at $11,000 is not a loss as Bitcoin is likely to hit new yearly highs before 2019 rounds up.

Those who are waiting to buy “the bottom” will feel silly eventually according to Rager. “The only ppl who will feel silly are the ones with empty bags still waiting to buy “the bottom”…,” he wrote in a Twitter post.

New Bottoms Unlikely

Despite the dip to $9,000, some intending buyers have deliberately refused to buy at that price and are hoping for a dip to $8,000 or lower. A recent poll by Weiss Crypto Ratings revealed that although most people were waiting to buy a dip to $10,000, a significant percentage is waiting to buy at $8,000 and another significant percentage expects Bitcoin to dip below $5,000 before they buy.

This is however not a likely scenario as Rager himself had said a number of times. In an earlier tweet, he said those expecting a dip to $8,000 will be disappointed and the only chance they had was to buy at the 30% pullback which took Bitcoin down to $9,000 for the first time since the yearly high. Another 4-digit opportunity still presented itself two days ago but it may be over as Bitcoin has gone way above $10,000 and might be going higher and not lower.

The Bakkt Effect

If there is any reason why Bitcoin is expected to go higher, it is because of the Bakkt launch in September. Just following the announcement of the launch, Bitcoin rose by over $500 in an hour.

This may be pointing to the effect the actual launch could have on the price of the asset. If the trend continues, it is unlikely that Bitcoin will dip to $8,000 or lower again this year and the chance of that happening next year may be slimmer.

6 Reasons Why 2020 Could Be the Best Year in Bitcoin’s History

Bitcoin’s future is perhaps one of the most widely discussed topics in the crypto community. It has been pronounced “dead” exactly 371 times according to popular resource Bitcoin Obituaries. However, the world’s largest cryptocurrency by market cap has survived every attempt to be dethroned and continues to grow after each down cycle. Leaving behind technical aspects, here are 6 possible reasons why the future of Bitcoin is bright and why 2020 might turn out to be a very good year.

Bitcoin Halving

One of the most anticipated events will take place on May 17, 2020 – its halving. Following this event, the rewards that miners get for adding blocks to the network will be slashed in half, hence affecting the overall supply of bitcoins. This will be the third halving event in Bitcoin’s relatively brief history.

The first one cut the reward for a solved block from 50 BTC to 25 BTC back in 2012. The second one took place in June 2016 and cut the reward to 12.5 BTC. Naturally, the upcoming one will see the block reward reduced to 6.25 BTC per block.

As CryptoPotato reported, after each previous halving, the price of Bitcoin has increased substantially. This is not unexpected, as basic economics stipulate that when the supply of an asset decreases while the demand for it remains the same or increases, its price will go up. 

Comparison to Gold

Traditional markets have had a rather tumultuous month so far, and an interesting comparison has arisen. The price of gold, the ultimate hedge from the stock market, has been rising significantly, and Bitcoin is not far behind. In fact, many proponents and industry experts have already touted the virtual currency as a “safe haven” from the declining traditional markets.  

Libra’s Controversy

Facebook’s own cryptocurrency, which will supposedly launch in 2020, has given the community a lot to talk about. Though controversial, it brought a lot of attention to Bitcoin and cryptocurrencies in general. Even though it differs considerably from Bitcoin, the mass media was shown that cryptocurrencies are here to stay.

More importantly, Libra got the attention of regulators. We saw a couple of congressional hearings held on the matter in the US. Furthermore, even the head of the UK’s Treasury said that they don’t intend to stop Libra or blockchain technology in general.

Inflation

Hyperinflation is a major threat to many countries, with Venezuela and Iran serving as prime examples in the last few years. While Bitcoin is far from mass adoption, cryptocurrencies may be the way out for some countries that are looking for a solution to their economic issues. 

One thing that has to be noted about Bitcoin in particular is that it has a pre-programmed inflation rate. It’s 3.74% per annum and can’t change, unlike inflation in traditional fiat currency markets.

Mass Adoption

As mentioned above, Bitcoin has a long way to go before reaching mass adoption. However, newsfrom New Zealand is promising. The fact that the country allows employers to pay salaries in Bitcoin and that they will be taxed in the same way says a lot. Moreover, there are quite a few marquee companies getting involved in the space, including Facebook, Overstock, and Twitter.

Scarcity

Because of Bitcoin’s first-of-its-kind protocol, only 21,000,000 BTC will ever be mined and come into existence. Since it’s not limitless, it possesses a similarity with silver and gold, which have limited supplies as well, even though their exact amounts are unknown. While potentially similar, Bitcoin can be transferred digitally with just a few clicks. In a digital world, this could be the biggest benefit of them all.

Moreover, as reported by CryptoPotatoBitcoin is expected to eventually catch up with gold and silver in terms of its stock-to-flow ratio, potentially sending its price much higher.

Bitcoin Drops $2,000 in Days, Who Done It?

A bitcoin sell-off accelerated this Thursday to a low of $9,600 amidst a sell-off in stocks as well as gold.

That has brought bitcoin down to about $10,000, falling from $12,000 just five days ago.

The sell-off for a time appeared to be following Dow Jones pretty closely. That fell by some 3% yesterday as investors try and price-in the chances of a recession following an economic slowdown in UK and Germany.

Trump blamed the FED, but investors are probably more concerned about his “America against the world ” policy with el presidente also blaming Germany. Trump said:

“Other countries say THANK YOU to clueless Jay Powell and the Federal Reserve. Germany, and many others, are playing the game! CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards & Gains, but the Fed is holding us back,” emphasis his.

Germany has a shared monetary policy with much of the European continent through ECB. That he mentions Germany instead of ECB tells you all you need to know how much he would like a European wide response to America’s regulators fining Deutsche Bank to the ground while for their own banks they don’t even name them when they announce charges for insider trading.

This nationalist approach and this very unilateral view may have contributed to America leaving Hong Kong in the cold. The protests there and the unsatisfactory solution so far might have been one reason for Red Wednesday.

Trump’s response was to delay tariffs on China, sending Yuan briefly almost below 7 and sending the dollar index up.

This dollar move sent even gold briefly down in a mini-correction after it breached $1,500, with the moves in CNY and the dollar likewise contributing to bitcoin’s correction.

There’s some suggestions of some sort of ponzi in China contributing to this bitcoin move, but the ponzi perpetrators have been arrested and what crypto addresses are known show no movement of assets.

Apparently they were able to accumulate some 200,000 BTC and close to a million ETH. Since they’re now behind bars, presumably these funds will be returned to investors after probably many years and/or are lost. In the case of the latter, it would be cause for a price rise, not decline.

So it appears bitcoin’s recent move is mainly due to macro events with Brexit potentially being another one.

The conservative party has already broken out in what corporate media calls an outright civil war. The current Prime Minister basically accused the former chancellor, both of the same party, of collaborating with the EU.

As someone named Boris, he is hardly well placed to speak of collaborations, but a no deal exit, or even whether there will be an exit at all, is now back to being a question mark.

Corbyn is to table a vote of no confidence. Boris should have called a general election himself seeing as talks are not going anywhere, but one way or another, the polls will call again.

The electoral map as it stands is the most complex in decades if not for a century since Libdems fell from power. Will they rise again, is one question. Will there be an implicit silent pact with Labour is another. Will Boris in campaign mode charm, or will voters go by substance, is yet another question.

All this yo-yoing, in Britain and across the world, is probably what is making bitcoin yo-yo too.

Will America think again about Trump and his nationalism? Will Britain say we’re European afterall? Will China look at Hong Kong and say… well, freedom worked there so why not let them be free? Will China look at its own economy and say: why not open it?

Are they fed up with political poisonings in Russia? And Arabia, will they think of giving peace a try?

As a transition of power continues between baby boomers and rising millennials, change is on the air. The former look to the past, the latter look to hopefully 70 years or as much as the Queen herself of further living into the future.

The millennial generation now probably has the deciding vote, as well as the loudest microphone, the most spending power/need and the ear of both those above and below.

They are rising to shape the world in their own image, with all this yo-yoing probably best seen as a global clash between a declining generation and a rising new one.

Best Bitcoin (BTC) Weekly Close of 2019 Bodes Well: Are You Strapped In for $13,000+ USD?

After an admittedly odd past few weeks of trading, Bitcoin recovered well enough to take its highest close of 2019 thus far.

Despite July and August seeming somewhat lackluster with plenty of flat action, the weekly close at just under $11,500 (Binance) suggests things are looking up. In tandem with the bullish weekly view, a report written by a Goldman Sachs analyst is gaining wide circulation and giving legs to the sentiment that we’re heading higher from here.

In the report, GS analyst Sheba Jafari makes a case for short-term BTC price targets of $12,916 and $13,971. Interestingly, Jafari arrives at those targets through the use of Elliott Wave Theory.

Elliott Waves Explained

It’s no secret that analysts adhere strongly to Elliott Wave Theory. Far from being a one-stop principle that explains everything happening in crypto trading, it does help us tackle the cyclical nature of markets.

Developed by Ralph Elliott way back in the 1930s, Elliott Waves describe the belief that price action plays out over observable patterns that repeat time and time again. In EW Theory, there are two types of waves:

1. Impulse Waves

2. Corrective Waves

Impulse waves are moves in the direction of the predominant trend, whereas corrective waves move against the trend. You can easily think of this by imagining BTC having a strong months-long uptrend, followed by a downward correction. The waves in-line with the uptrend are impulse waves, and those moving against it and pushing the price down are corrective ones.

It’s wrong to think that impulse waves can only correspond to moves up, however. Impulse waves are just about trends, regardless of whether they are up or down. A correction can occur to the upside, shaking out a downward trend. In that case, a corrective wave up would still be properly considered a correction.

Impulse waves move in packs of five, meaning you’ll always get five on-trend impulse waves before being hit by three corrective waves. That gives you a total of eight waves in a given cycle before the next trend takes hold.

Although EW Theory describes market action, it’s also an ace piece of psychological work. Traders’ emotions move in cycles of highs and lows. No one stays positive about a trend forever, and neither do they stay negative. The data which informs traders’ decisions and rationale shifts all the time, making it foolish to stick with any position dogmatically.

The cyclical nature between positive and negative/optimistic and pessimistic states of mind factors heavily into EW Theory’s own dynamic wave structure. Like the market, Elliott Waves never stand still. However, that doesn’t make them ideally suited to short time frame charts. Because Elliott Waves describe trends, they’re best applied to long time frames – especially if you’re just beginning to interpret the market with them.

Cryptocurrency Regulations: The Good, The Bad And the Future

In June 2019, the Financial Action Task Force (FATF), an inter-governmental agency created to address and reduce international money laundering, terrorist financing, and other financial threats, released new guidelines for international banks.

These standards were also affirmed by the G20 in June. A collective agreement was made to apply the rules at the G20 meeting in Fukuoka, Japan and communicated by the Japanese Ministry of Finance in a statement.

Bad News for South Korean Cryptocurrency Exchanges

The first inklings of enforcement of these actions took place last week in South Korea. Four of the top cryptocurrency exchanges, Bithumb, Coinone, Korbit, and Upbit, ran into a bit of a glitch while attempting to renew their agreements with South Korean banks.

Part of the new FATF standards includes stricter anti-money laundering requirements. Moving forward, all exchanges are required to comply with these requirements. The G20 summit recommended rapid implementation of all FATFA regulatory guidelines in participating countries.

This is a big change for South Korean bank policy on cryptocurrency exchanges. Prior to this latest setback, all cryptocurrency exchange accounts had been renewed without issue.

The new standards may become prohibitively expensive for some smaller exchanges without large operating capital reserves. Experts have even expressed concern that the new regulatory compliance standards may put a good number of exchanges out of business.

Other Issues with Banks and Cryptocurrency

The South Korean cryptocurrency exchange woes are not the first confrontation between cryptocurrency exchanges and regulatory bodies.

Exchanges such as Binfinex and Bittrex have already exited the United States. Binance, the world’s largest cryptocurrency exchange, is also leaving the United States. Traders in the U.S. will be unable to use Binance beginning September 12, 2019.

While Binance is planning to open a branch specifically dedicated to complying with United States regulatory standards, other, smaller exchanges simply do not have the resources of a company the size of Binance. As new exchanges open, less and less are willing to even make the attempt to comply with certain regulations.

Good News Is That Solutions Are in the Works

As blockchain technology is advancing at a rapid rate, in some cases literally circumventing the need for any banking involvement whatsoever, solutions are always in the works. One such solution, Globitex, is well on the way to providing a solution for digital currency investors across the globe.

The Globitex Euro wallet is integrated into the platform. It provides international banking account numbers (IBAN). With the ability to secure an IBAN directly through the platform, the need to integrate with the fiat banking system and meet regulatory standards.

Many new exchanges are working to devise solutions that will mitigate the ongoing and increasingly complex regulatory standards government agencies are implementing specifically for cryptocurrency trading platforms.

With new improvements to security standards, storage capacity, and liquidity options, the current trajectory of exchange technology is both positive and exciting. In fact, if cryptocurrency exchange technology continues to improve, traditional fiat banks and their unwieldy, regulation-heavy practices will soon be a thing of the distant past.

Securing the Future

One of the most encouraging areas of innovation at the moment is that of security. After watching multiple catastrophic exchange hacks over the past several years, resulting in millions of dollars worth of cryptocurrency stolen, security is understandably a top priority for blockchain developers.

A focus on solid security practices is becoming the norm rather than the exception for new exchanges.

The ecxx exchange, for example, recently entered into a partnership with Ledger Vault. This partnership provides multi-authorization wallet management solutions for users.

According to Branson Lee, ecxx.com CEO and co-founder, “The Ledger Vault allows us to grow into a dominant player in the cryptocurrency market while maintaining highest standards of security.”

ecxx, ledger, blockchain, regulations

Ledger partners with ecxx to form a strong security-driven standard in the digital asset exchange industry

The ecxx platform is not alone with this sentiment. With the realization that both existing and upcoming regulatory changes can and will be destructive to most exchanges, the motivation to develop regulatory workarounds is high.

In reality, regulatory bodies really do have the best of intentions. Created to protect consumers from the risk of dangerous and predatory financial situations created by big banks, the premise of regulation is solid.

Another reality is that the goals of blockchain developers are virtually identical. The goal is to protect consumers from harm. It just happens in an entirely different manner through the use of blockchain.

The major advantage investors can enjoy with blockchain solutions is that elusive lack of third party involvement in their financial transactions. With blockchain, instead of throwing away large sums of money through fees and profit distributions, the power remains in the hands of individuals, both retail and larger investors.

Ripple (XRP) & Tether (USDT) Embark Recovery; Binance Coin (BNB) Walks Differently

Ripple (XRP/USD) Price Analysis:

Ripple finally starts an upsurge after a tremendous fall in yesterday’s chart. The coin is currently dealing at $0.30291, and the Market Cap stands at USD 12,929,204,571. Ripple is reflecting a moderate fall in the price. Starting from 04th August, the XRP price changed from $0.316 to $0.320 and booked a profit of 1.38%. On 5th August, the Ripple coin kept it tight around $0.32. The price switched from $0.320 to $0.0321. On 6th August, the coin fell from $0.3207 to $0.3117 by 2.91%. On 7th August, the coin escalated from $0.3117 to $0.3129. On 8th August, the coin slipped from $0.3129 to $0.30911. The downtrend continued from $0.30911 to $0.301 by 2.55%. Today, the Ripple opened with an upsurge. The coin escalated from $0.30149 to $0.30312. The escalation was of 0.54%. The future of XRP coin is better, and hence investment in the wouldn’t go futile. We assume that the long-term investment would give the best results to the investors.

Tether (USDT/USD) Price Analysis:

Tether is on the 7th position in the list of top cryptocurrencies. The Market Cap of the USDT coin is 4,038,834,988 USD. The last ten days have been quite volatile for the coin. We are expecting the coin to attain stability soon. To understand the momentum of the Tether coin, let’s have a look at the Tether price chart.

Above chart is reflecting downward movement in the USDT price. On 4th August, the coin opened at $0.9989 and went up to $1.0030. The escalation in the coin was of 0.40%. On 5th August, the Tether fell from $1.0030 to $0.9990 by 0.40%. The downside movement continued in the coin. The price counters changed from $0.9990 to $0.9981 by 0.09% on 6th August. Then, there was a marginal improvement in the Tether price. The coin jumped from $0.9981 to $0.9999 by 0.19%. On 8th August, the USDT again registered a loss. This time the regression was of 0.20%. The price counters changed from $0.9999 to $0.9980. Yesterday, Tether kept the same pattern and dropped by 0.04% as the price slipped from $0.9980 to $0.9976. However, today, there is a slight recovery marked in the coin. The price escalated from $0.9976 to $0.9989. The escalation in the coin is said to retain itself. We are expecting an upsurge by the end of 2019.

Binance Coin (BNB/USD) Price Analysis:

Holding the 6th position tight, Binance Coin is behaving a lot differently than the ongoing trend. When the entire market was suffering, Binance Coin was climbing. Now, when the whole market is booking profits, Binance coin price is slipping. BNB price chart is narrating the exact story.  Binance Coin booked an upsurge in the last one week. On 4th August, the BNB coin opened at $27.74 and slipped to $27.49. The regression was of 0.92%. On 5th August, the Binance coin escalated from $27.49 and touched $27.91 by 1.39%. On 6th August, there was again a drop in the BNB coin price. The price switched from $27.91 to $27.64 by 0.99%. On 7th August, the coin switched places from $27.64 to $29.34 by 6.16%. The escalation continued on 8th August. The price jumped from $29.34 to $31.12. The uptrend was of 5.83%. Yesterday, the Binance coin slipped from $31.12 to $29.86 by 4.04%. Today, the coin continued the drop. The Binance coin price slipped from $29.86 to $29.15. The coin is expected to catch up with the trend in the coming week. The traders are interested in the Binance coin for a short-term investment plan to book huge profits.