Top 3 Price Predictions Bitcoin, Ethereum & Ripple

  • BTC/USD recovers from recent lows stuck at $7,600.
  • ETH/USD consolidates at $420 level.
  • XRP/USD bulls were discouraged by $0.4600 resistance.

Bitcoin bears seem to have slowed down a little following 11% drop from recent high registered at $8,500. The crypto market has entered a consolidation phase, though XRP demonstrated particularly strong growth with no clear fundamental reasons readily available.

BTC/USD 1D
BTCUSD virtually bumped into a strong confluence zone at the price level of $7,630. The indicators that create this critical confluence and listed from lowest to the highest price level, among others:

Fibonacci 38.2% one-month, SMA 50-15m, 15 min low, 1-hour low, the SMA 10-1-hour, the Bolinger Band 15m-Middle, the SMA 5-1h, and the SMA 100-daily.

Once this area is cleared, the upside may be extended towards psychological $8,000, reinforced by SMA100 (1-hour chart) and SMA10  (daily). This level is followed by the ultimate resistance of $8,500, which encompasses both last month and last week highs as well as 161.8% Fibo retracement level (daily). Considering the importance of the confluence area, it will be hard to…

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The Bitcoin Price Is Tanking — Here’s Why

The bitcoin price bull run over the last month, which saw it climb from around $6,300 to highs of $8,400 in a matter of weeks, could be over.

Bitcoin has slumped by 5% over the last 12 hours, falling well below the psychological $8,000 mark as traders and investors fret over coming tax crackdowns and blockchain-based applications being adopted by the traditional financial institutions.

Bitcoin hit lows of $7,675 at pixel time, down from daily highs of $8,168, according to CoinDesk data.

Meanwhile, other cryptocurrencies are suffering — and many of them haven’t had quite the bull run bitcoin has over recent weeks to cushion the fall.

Ethereum is down by 6% over the last 24 hours, while ripple is down around 4% and bitcoin cash is off by 5%.

Here’s what’s pushing the bitcoin price lower…

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Find out which cryptocurrency billionaire Bill Miller thinks is the Most Stable

Billionaire investor, Bill Miller believes Bitcoin is the cream of the crop as far as cryptocurrencies are concerned. The founder and chief investment officer (CIO) of Miller Value Partners also thinks that the top-ranked cryptocurrency is similar to gold. 


Bitcoin is an ‘Interesting Technological Experiment’

In a recent Bloomberg interview, the self-proclaimed ‘Bitcoin observer’ revealed that he is a Bitcoin investor both personally and as part of a partnership portfolio. He recognized the nascent nature of the market, declaring that no one knows how the asset will end up. Regarding his views of the asset itself, Miller said:

I think that it’s an interesting technological experiment. Every day that it doesn’t blow up or get regulated to zero, what’s going to happen is that more money flows into the ecosystem.

Many market experts have repeatedly said that the entry of institutional money is the next significant phase in the evolution of the cryptocurrency market. However, the entry of these big-money players is contingent on the emergence of robust custody tools as well as clear-cut regulations in the market.

Most Cryptocurrencies are Worthless

When asked about whether his stance on Bitcoin extended to other cryptocurrencies, Miller said:

Most of them [cryptocurrencies] are probably worthless. Bitcoin is the most stable of the currencies. I think it has the greatest probability of being successful. There are others that people like, but that’s the only one I’m interested in.

Earlier in the month, another billionaire investor, Marc Lasry of Avenue Capital Group, said that Bitcoin is the virtual currency that will attract the most investors.

When asked about whether his stance on Bitcoin extended to other cryptocurrencies, Miller said: "Most of them [cryptocurrencies] are probably worthless. Bitcoin is the most stable of the currencies. I think it has the greatest probability of being successful. There are others that people like, but that’s the only one I’m interested in."

Bitcoin is a Lot Like Gold

Concerning the appropriate classification for Bitcoin, Miller said that he sees the top-ranked cryptocurrency as a non-correlated asset that is most similar to gold. However, he stressed that BTC held some certain advantages over the precious metal, chief of which are its ease of transfer and ability to function as a medium of exchange.

Despite these advantages, Miller believes that BTC isn’t an yet an efficient payment system or a viable currency. Enthusiasts like Square CEO, Jack Dorsey, and Apple co-founder, Steve Wozniak believe BTC can be the single global currency within the next decade.

Miller also predicted that if Bitcoin was able to attain a third of the total market value of gold, then institutions like banks might become more interested in the asset. The current BTC market capitalization stands at $140 billion which is 47 percent of the total cryptocurrency market.

Do you agree that Bitcoin is the most stable cryptocurrency? Let us know in the comment section below. 


Images courtesy of CoinMarketCap.com, Shutterstock

The post Bitcoin is the Most Stable Cryptocurrency, Says Billionaire Investor appeared first on Bitcoinist.com.

Source: Bitcoininst

‘Bitcoin Brothers’ – Cameron and Tyler Winklevoss – can’t catch a break

For the second time in 18 months, the S.E.C. has rejected a bid by the Winklevoss twins to create an exchange-traded fund for bitcoin, a blow to the brothers seeking to capitalize on their cryptocurrency dominance.

The blue-chip Winklevoss twins, late of Greenwich County Day School, Harvard, and the Hasty Pudding Club, do not seem like the sort to come in second. And yet, Cameron and Tyler Winklevoss have continually brushed up against fabulous wealth and power, only to have it snatched from their meaty grip. The Internet entrepreneurs’ most recent misfortune came on Thursday, when the Securities and Exchange Commission rejected a proposed rule change that would have allowed an exchange to list shares of Gemini, a cryptocurrency exchange-traded fund launched by the Winklevii. In a release, the S.E.C. explained that it didn’t buy the argument made by the twins that bitcoin markets like Gemini are “uniquely resistant to manipulation.” The agency also said it remains skeptical of the ability of bitcoin exchanges to police trading. “The record before the Commission indicates that a substantial majority of bitcoin trading occurs on unregulated venues overseas that are relatively new and that, generally, appear to trade only digital assets,” its filing read. “Regulated bitcoin-related markets are in the early stages of…

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Meet the 4 Coins you need to watch for in August

As the bear market continues to take hold, many investors are wondering what their next move should be; should you hold your investment and keep an eye out for the next bull run, or should you cut the losses and perhaps find better luck elsewhere.
What’s clear is that we seem to be in a consolidation period with BTC prices hovering between $5,800 and $6,800 for the past month. With no announcements big enough to spark an upward trend, the market will likely continue to engage in a fierce tug of war between the optimists and short sellers.
In the meantime, this is a great opportunity to invest in a handful of coins that are not only undervalued but are showing great development progress and are a couple of times cheaper than their December/ January all-time highs.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

AION

Current price: $0.89 (July 26th , 2018), All time high price: $11.10 on January 9th, 2018

AION is a multilayered blockchain system that is designed to resolve the issues of privacy, scalability, and interoperability.

Recent developments: This year, AION successfully launched their mainnet ‘Kilimanjaro’, which was a milestone they set out to achieve for 2018 on their roadmap.  They also achieved smaller milestones that were part of the Mainnet launch, including developing their Virtual Machine, Aion Inter-chain, their proof of work algorithm, Aion Core and Aion API’s.

Aion is also part of the Enterprise Ethereum Alliance, which recently partnered with eBay and Foxconn. Aion plans to expand into Korea, Japan, and China.

 

ICON (ICX)

Current price: $1.32, All time high price: $12.11 on January 9th, 2018

ICON is building a decentralized network that allows independent Blockchains with different governances to transact with one another without intermediaries.

Recent developments: Although the company has missed a lot of its roadmap deadlines, there is still strong evidence of development and business progress being made. The Blockchain already has more than 12 Dapps launched in their Mainnet ecosystem. ICON is also currently one of the most partnered Blockchains in the industry. Some of the industries ICON is partnered with include; Gaming, Biometrics, Education Healthcare, Insurance, and Banking.

One company in particular that ICON has partnered with is Line, the giant messaging app that hopes to launch a crypto exchange in the coming month.

 

ENIGMA (ENG)

Current price: $1.62, All time high price: $8.06 on January 10th, 2018

Enigma is an off-chain network that compliments blockchain networks by providing a secondary layer for data storage and computation.

Recent developments:

The blockchain launched their Testnet in June, and have announced a roadmap for the next 5 years. They have also just announced a massive partnership with Intel and have hired many new developers, and have set-up a new developer forum.

Lastly, Enigma has just begun expanding into the Korean market.

WAX

Current price: $0.14, All time high price: $2.73 on January 10th, 2018

WAX is a decentralized platform that enables anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure or payment processing. They’re disrupting the Gaming industry (particularly Gaming skin trading; which is the ability to trade suits, weapons, health packs, and other items that video game characters utilize. This market alone is a $50billion industry).

Recent developments: The platform has made several new announcements over the past few months, and shows promise to make one of the largest comebacks of all the coins during the next Bull Run. In April, WAX selected EOS as their blockchain of choice to build their decentralized marketplace. They’re also partnered with several major blockchain companies like Jaxx, Kyber Network, Nexo, and Bancor.

Most recently, WAX has begun partnering with games like CryptoSpaceX, and Crypto Wars.

Overall, there are plenty of undervalued companies that are likely to regain significant momentum once the markets start to turn more bullish.

However, I believe these four projects in particular, are worth investigating further, as they’ve demonstrated the ability to persevere and show progress even as prices have fallen significantly. If high-value partnerships and main-net launches are what they produce when the crypto market is at its worst, then I can’t wait to see what these companies will bring to the industry once it’s at its best.

The post Meet the 4 Coins you need to watch for in August appeared first on CryptoPotato.

Source: Crypto Potato

Why Major Investors Are Betting Heavily Against THIS CRYPTOCURRENCY

Ethereum, the second-largest cryptocurrency platform in the world, has seen its currency plummet 36% this year. But some major crypto investors think it has more room to fall, and they’re betting aggressively against it.

New York-based Tetras Capital, a crypto hedge fund that launched last summer and is known for in-depth analyses of cryptocurrency prices, has shorted ether, borrowing the coins and hoping they tank so it can buy them back at a lower price. Tetras started shorting ether in May 2018, when the price ranged from $572 to $659. Ether currently hovers around $470.

Last week, Tetras published a 41-page report explaining its reasoning. Forbes estimates the six-person hedge fund has $30 million in assets under management. The ether short is one of its two high-conviction positions—the other is its bitcoin investment, says founding partner Alex Sunnarborg.

Timothy Young, a former entrepreneur who sold tech startup Socialcast for more than $100 million in 2011, is shorting ether through his…

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3 Reasons Bitcoin Price Rally is For Real

Brian Kelly

Bitcoin’s price increase continues Tuesday, July 24, as it managed to climb past $8,000 for the first time in two months. Despite remaining around 60 percent below its all-time high in December, the world’s largest cryptocurrency is on a rally which, according to Brian Kelly, is here to stay.


Bitcoin 00 continues to trade in the green reaching 60-day highs Tuesday July 24 after managing to breach $8,000 for the first time since May.

Popular cryptocurrency trader and CEO of investment firm BKCM LLC, Brian Kelly spoke to CNBC’s Fast Money, outlining three reasons for which the recent Bitcoin price rally is real.

ETF Speculation

Kelly noted that “the chances of an ETF in 2018 are relatively low.” With that said, he also goes on to share that “this doesn’t stop speculation” as a prominent factor for the current rally.

On June 26th, the US Securities and Exchange Commission (SEC) received an application for a Bitcoin ETF. It was filed by Cboe Global Markets who’ve proposed to partner with SolidX and Van Eyck Investment. While this is not the first time Cboe has filed for a Bitcoin ETF, Bitcoinist outlined three reasons why its chances of getting approved are higher than ever.

Building on the ETF hype, the SEC has received and influx of comments on behalf of cryptocurrency enthusiasts, most of which are overly positive and express serious interest for it to happen.

Institutions Are Getting Serious

Kelly said:

I can tell you from the calls that I’m getting, people that looked down on it [Bitcoin] in December didn’t like the price and are coming back now saying – Alright, this thing is not going away, we need to understand what it is, where does this asset class fit into our portfolio.

He is not the only one sharing this sentiment. Earlier this month, Digital Currency Group’s Barry Silbert also reiterated on the importance of institutional money pouring into the market. Silbert noted that infrastructure for “big money” is getting closer to being laid down. Both of them outlined Coinbase’s Custody solution, which paves the way for institutional money.

Earlier this month, BlackRock, the world’s largest asset manager and ETF provider was reported to mull interest in Bitcoin and cryptocurrencies. New York-based investment bank Goldman Sachs also announced they have appointed a new CEO who’s “keen on Bitcoin.”

WEB 3.0

While there is no unanimous or universally agreed-upon definition of WEB 3.0, Kelly refers to it as the “new internet” and the “improved internet.”

The trader explains that the institutions see cryptocurrencies as a critical factor bridging existing ecosystems to the “new internet.” Hence, the new technology would be a welcome addition to their portfolios.

Factors That Will Push Bitcoin’s Price Higher Are Gathering Steam

Bitcoin is Very “Reflexive”

Apart from the reasons Kelly outlined, he also discussed with Futures Now trader Tim Seymour the sentiments around Bitcoin’s increasing price.

Seymour noted that investors are more comfortable buying Bitcoin at $7,800 than they are at $6,000. He also explained that they will probably be even more comfortable at $10,000. Kelly agreed, comparing Bitcoin to gold and other currencies, saying:

The more value comes, the more it [Bitcoin] becomes.

Do you think Bitcoin has entered its long-await bull run? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock; CoinMarketCap, CNBC.com

The post Brian Kelly: 3 Reasons Bitcoin Price Rally is For Real appeared first on Bitcoinist.com.

Source: Bitcoininst

The Price of Bitcoin Is Closing In on This KEY LEVEL

Stunning: New innovation will be like “adding twin turbos to the Bitcoin engine” – and could send its price to $100,000. Learn more

The price of Bitcoin is now up 20% so far in July, and it’s closing in on $8,000 per coin.

However, the rally is just getting started…

launch to bitcoin moon

Three analysts believe Bitcoin prices could climb above $20,000 by the end of 2018.

Marie-Antoinette Tichler of C2Legacy Technologies believes that BTC prices will reach $20,863 by Dec. 31, 2018.

Fred Schebesta of Finder.com believes BTC prices will reach $22,500 by the end of the year, and Joerg Molt of Satoshi School has an even bolder Bitcoin price prediction.

He believes prices will climb to $25,000.

From today’s (July 23) price of $7,694.48, that’s a potential profit of 224%.

“There are still three things on: Mt. Gox, Regulators, and Hacks. Investors don’t understand Bitcoin as money, so they leave Bitcoin as fast as they jumped in. But the real market value of BTC will grow,” Molt told Finder.com.

Here is a recap of the top five cryptocurrencies by market cap as of 9:30 a.m. ET:

Cryptocurrency Market Cap Price Change (24h)
Bitcoin (BTC) $132,083,343,652 $7,694.48 +3.23%
Ethereum (ETH) $46,634,129,090 $462.32 -0.82%
Ripple (XRP) $17,791,133,087 $0.452520 -0.35%
Bitcoin Cash (BCH) $14,015,879,350 $812.39 +2.02%
EOS (EOS) $7,270,684,867 $8.11 -0.24%

Now here’s a closer look at the top cryptocurrency stories of the day…

The Top Cryptocurrency Stories for July 23

  • Coinbase is preparing to donate to political candidates in upcoming elections. According to CoinDesk.com, the crypto exchange formed a Political Action Committee (PAC) in June. The PAC currently isn’t attached to any candidate running for office, but it’s important to note a crypto exchange will soon have the ear of political candidates.
  • Will Amazon.com Inc. (Nasdaq: AMZN) accept crypto payments? Rumors about the e-commerce giant accepting cryptocurrencies popped up on Reddit.com again. An anonymous software engineer said that the Amazon team has held multiple discussions about accepting Bitcoin. We will keep Money Morning readers in the loop if news that is more concrete develops.
  • Finally, a city in China has just launched a $1.48 billion blockchain investment fund. The fund in Nanjing City aims to use blockchain technology for cross-border payments, healthcare, energy, intellectual property, and environmental protection. It will also help blockchain companies move their base to the city, according to ZDNet.com.

See Why Bitcoin Is Far from Dead (and How It Could Make You a Millionaire)

Read more

4 Reasons Why It’s Not Too Late to Invest in Bitcoin

On its way to reaching its all-time high of roughly $20,000 in January, Bitcoin caught the eye of the public. Since then, the world’s largest cryptocurrency has lost around 70 percent of its value since — but experts say it’s still a very attractive investment. Here are four reasons why. 


Tom Lee: Current Price Gives a ‘Huge Bull Signal’

Tom Lee, the chief analyst of Fundstrat Global Advisors, noted that Bitcoin is currently trading around 30 percent below its 200-day moving average — which is a “pretty positive signal.” The analyst also said that the “probability of making money is over 90 percent within six months” if you manage to buy BTC when it’s trading 30 percent below its 200-day moving average.

Lee also reiterated the fact that technical analysis is beginning to look a lot more favorable and that the wave of positive news also plays its part.

Tom Lee: Current Price Gives a “Huge Bull Signal”

Barry Silbert: Important Infrastructure for Institutional Money is Being Constructed

According to Digital Currency Group’s Barry Silbert — who is an early Bitcoin investor — 2019 will be big for Bitcoin because institutional investments will start pouring in as the infrastructure for them is close to being prepared. He also noted that we are already seeing this trend as institutional investors accounted for 56 percent of Grayscale Investments’ $250 million raised YTD.

Silbert believes that the price has already bottomed and that “bears just kind of ran out of energy, ran out of Bitcoin to sell” — all but claiming that the bear market is over.

Patrick Gray: ‘The Potential For Growth is Massive’

Bitcoin, despite losing around 70 percent of its all-time-high value in January, still marks a massive growth compared to where it was at the beginning of 2017. What is more, the world’s largest cryptocurrency heavily outperformed some of the leading traditional companies like Amazon, JD.Com, and iQiyi.

HashChain Technology’s CEO Patrick Gray noted:

Cryptocurrency adoption is currently 0.2 percent and has been doubling by 100 percent a year. At this rate, the potential and opportunity over the next ten years is vast. Despite some downturns, that kind of growth potential and growth rate shouldn’t be overlooked.

Bitcoin price

Boris Schlossberg: Bitcoin Could Be a ‘Legitimate Store of Value’

Boris Schlossberg, Managing Director of FX Strategy at BK Asset Management — who is a long-time Bitcoin bear — gave substantial merit to the first and foremost cryptocurrency’s recent rally. He even outlined that further increase is not out of the picture, stating:

As bitcoin appears to rally mostly on technical drivers, for the moment, it could easily squeeze above $8,000. That level is where much more serious resistance lies on the charts.

Schlossberg also said that bitcoin “could be seen as a legitimate store of value going forward” as blockchain technology becomes “increasingly entrenched in the mainstream financial industry.”

Do you think it’s too late to get invested in Bitcoin? Don’t hesitate to let us know in the comments below! 


Images courtesy of Shutterstock, Bitcoinist archives.

[Disclaimer: The contents of this article should not be considered financial advice from Bitcoinist or the author.]

The post 4 Reasons Why It’s Not Too Late to Invest in Bitcoin appeared first on Bitcoinist.com.

Source: Bitcoininst

FIND OUT: Bitcoin is on track to do something impressive it hasn’t done in more than a year

As bitcoin gains momentum its share of the digital currency market is increasing.

Bitcoin’s revival looked set to take down another milestone Friday as the No. 1 digital currency traded in the green.

After making a fresh yearly low in late June, one that bitcoin pioneer Barry Silbert believes will be the low for 2018, bitcoin has staged a turnaround and is on track to do something it hasn’t done since June 2017—log seven consecutive winning days.

According to data from charting service TradingView, since July 14 bitcoin has notched six consecutive winning days and a seventh would be the first time since June 6 of last year when a single bitcoin was worth less than $3,000.

Despite the turnaround, one analyst says further upside may be limited. “I’m not getting too excited about the recent gains just yet, to me it still looks like a small corrective move with longer-term momentum very much against it,” said Craig Erlam, senior market analyst at Oanda.

Erlam added that $10,000 remains a crucial topside level, but he’s not convinced it will trade this high soon…

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