What does early 2018 have in store for Bitcoin?

2017 saw itself out with the promise of a $20,000 Bitcoin, but then snatched it away, along with lots of new “investors” hoping for an early Christmas present.

It wasn’t to be – so – what does 2018 have in store for this crypto?

BTC/USD Daily Chart
BTC/USD Daily Chart

Firstly, we think that cryptocurrencies are now going to get serious. The newer investors who dipped their toe into the water, only to find themselves drowning, will be very unlikely to return. If Bitcoin, Ethereum, Ripple, Litecoin, and others, can prove themselves during 2018, even newer investors may be enticed into the market to try their luck. But will that happen?

Banks and other “classic” financial institutions are now accepting fintech, cryptocurrencies, and ICOs, much more earnestly. Governments, too, are beginning to realise that Ethereum, for example, is a real, and powerful tool, capable of far more than simply acting as coinage. The concept of ledgers, smart contracts, and blockchain transactions is now on many more agendas.

Bitcoin has come a long way, even since October, when investors were getting excited because it had reached $5,000, at 1) on the daily timeframe chart above. It continued rising through, to 2)  where it experienced a setback, which, at the time, had everyone calling time on Bitcoin.

In retrospect, this was a blip – but it showed, once again – the power of the 21-day EMA (exponential moving average) and the 55-day, and 100-day levels as strong support, just as they proved back in mid-September, mid-July, the end of March, and the beginning of January. What this shows, beyond doubt, is that Bitcoin has never closed below the 100-day EMA. This gives us a benchmark to go by.

After the hype and wishful thinking of us all wanting Bitcoin to reach $20,000 by Christmas, at 3) it came as a shock, for some, to find Bitcoin falling to $14,115 on 22nd December. But, again, the 55-day EMA held, at 7) and saw it climb back.

It is currently bouncing around the 21-day EMA. We see two scenarios here, at 4). The first is Bitcoin rising, at 5) to pass the previous resistance level around $16,409. If it does this – and goes higher than $17,000 – it will signal that the buyers are back in control, and Bitcoin should climb even higher again.

If it does the opposite, at 6) and falls below the previous, lowest high, at around $12,872 – it will show that there is more selling than buying – and the price is likely to drop back to the 55-day, 7) or possibly the 100-day EMA, 8).

The remaining indicators on the daily chart are fairly inconclusive at the moment.

The 14-day ADX and DMI indicators, at 9) are flat – with a slight negative edge as the -DMI (red) is above the +DMI (green).

At 10)  although the last two indicator dots are red – the first in months not to be blue – the pulse wave is showing a slight upward trend, despite the fact that the color has gone from red to maroon, which would indicate a negative momentum.

Lastly, since showing the start of the recent downtrend, at 11) the divergence indicator has fallen, and we await a red dot signal, which would indicate a potential rise taking place. We would expect this to happen at 12) and probably, quite soon.

As a backdrop to all of this, there is a strong rumor that Amazon is about to accept Bitcoin as a method of payment. Patrick Byrne, the CEO of Overstock, has stated that Amazon will soon have no choice but to start accepting it. He is quoted as saying, “… they have to follow suit. I’ll be stunned if they don’t because they can’t just cede that part of the market to us if we are the only main large retail site taking Bitcoin.” Scott Mullins, an Amazon executive has confirmed that Amazon is, “working with financial institutions and crypto-experts to spur innovation, and facilitate frictionless experimentation.”

If the Amazon rumor turns out to be true – Bitcoin will probably go into orbit! Be prepared…

Bitcoin Gold DASH and Monero Price forecast for the week of January 8, 2018, Technical Analysis

Bitcoin Gold

Bitcoin Gold markets have gone back and forth during the week, essentially certainly nothing. We are hovering around the $250 level, which is essentially the fulcrum for overall pricing in this market that I see on the weekly chart. I think that the market will continue to be very noisy, and if we can break out to the upside, specifically the $300 level, I think we will go looking towards the $400 level above. However, this is a very underwhelming chart here, and I think we break down below the $200 level, Bitcoin Gold could collapse to the $100 level.

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BTG/USD DASH USD and XMR USD Video 08.01.18

BTG/USD weekly chart, January 08, 2018
BTG/USD weekly chart, January 08, 2018

DASH

DASH had a positive week, but still struggles at the $1200 level. I think that the $1200 level extends resistance to at least the $1300 level, so it’s difficult to imagine a longer-term trader being comfortable buying here. We have a massive shooting star from a couple of weeks ago, although we haven’t broken down below the bottom of it. If we were to break down below the bottom of the candle, we would probably drop to $400. I think dash is going to be extraordinarily volatile, and probably the realm of short-term traders in the foreseeable future.

DASH/USD weekly chart, January 08, 2018
DASH/USD weekly chart, January 08, 2018

Monero

Monero did very little during the week as well, and with the shooting star that had preceded it, and the one before that, it’s likely that we will eventually see a significant move lower. The $200 level would be a target, but if we get above the top of the shooting star from a couple of weeks ago, we could go higher. However, that means that we would have to break above the $475 level, something that would take a lot of momentum and volume to do. As I look at the chart, I notice volumes have been dropping since September. That is not a good sign in general.

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Monero/USD weekly Chart, January 08, 2018
Monero/USD weekly Chart, January 08, 2018

BTC/USD Price forecast for the week of January 8, 2018, Technical Analysis

Bitcoin markets initially fell during the week, testing the $13,000 level, but have bounced quite drastically to test the $16,000 region. By doing so, it looks very bullish but I am concerned about the lack of volume this week. After all, you can see how much stronger the volume was during the previous 2 candles, both of which were negative. Beyond that, I see more volume in the negative candle’s going back several months now, so I begin to wonder whether we can continue this upward pressure. The market has pulled back a bit, but I think it needs to pull back even further. Longer-term traders will probably be more of the buy-and-hold scenario, so it’s likely that the retail traders will be picking up bits and pieces in this area. I suspect that we will continue to see volatility, but one of the things that is helping Bitcoin currently is the fact that the US dollar has been falling in general.

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BTC/USD weekly chart, January 08, 2018

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The $20,000 level above is a significant resistance barrier, so breaking above there would of course change the outlook of the market but I think what we are going to see going forward is going to be more choppiness from a longer-term perspective, as the opening of the futures markets seems to have put a damper on the buying pressure that we had previously seen. I’d be careful jumping in with both feet right now, but adding slowly as we go higher might be a viable alternative to doing so.

Bitcoin Gold DASH and Monero Price Forecast January 8, 2018, Technical Analysis

Bitcoin Gold

Bitcoin Gold rallied significantly during the trading session on Friday, reaching towards the $265 level. We pulled back a little bit after the highs, but it looks as if we are ready to go much higher. The volume of the move higher was strong, so it looks very likely to continue to push towards the important $300 level. That is an area that is the top of the overall consolidation area, so if we can break above the $300 level, Bitcoin Gold would be a very strong sign. Pullbacks from here should continue to give us opportunities to eventually break out, building up momentum along the way.

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BTG/USD DASH USD and XMR USD Video 08.01.18

BTG/USD daily chart, January 08, 2018
BTG/USD daily chart, January 08, 2018

DASH

DASH continues to go sideways in general, as the markets are hovering around the $1150 level. I think that there is significant resistance near the $1200 handle, and there is nothing on this chart suggesting that we are ready to break out quite yet. A break above the $1200 level would be very bullish, and could send the market to the $1300 level after that. I think that pullbacks could offer buying opportunities, as the $1000 level should offer massive support, and perhaps value that people are willing to take advantage of as the markets had previously been so explosive to the upside.

DASH/USD daily chart, January 08, 2018
DASH/USD daily chart, January 08, 2018

Monero

Monero has recently broken through the bottom of an uptrend line, and has recently been going sideways. Because of the structure of this move, I believe that a break below the $350 level would be very negative and send this market looking towards the $300 handle. Alternately, if we can break above the $380 level, we may go looking towards the $400 level after that. If we break above the $400 level, that would be a sign that the Monero market should go much higher, but we are a long way from that happening so until then I am a bit suspicious of this market. Monero had been the currency du joir recently, but has given back some of that luster that people have placed upon it recently.

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Monero/USD daily Chart, January 08, 2018

BTC/USD Price Forecast January 8, 2018, Technical Analysis

Bitcoin markets rally during the trading session on Friday, as you can see on the hourly chart. I think the market is looking likely to go towards the upside, perhaps reaching towards the $18,000 level above, which is a large, round, psychologically significant number and something that has shown importance on longer-term charts. Bitcoin markets have been a bit thin as of late, but during the Friday session most of the volume was to the upside, a very good sign. I think Bitcoin continues to be very difficult to trade overall, as we are starting to see a lot of conflicting stories and interest, but recently most of the bearish pressure in the Bitcoin markets has more to do with people buying alt coins than anything else.

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BTC/USD Video 08.01.18

Looking at the hourly chart, I think that the $15,000 level should offer a lot of support, and that pullbacks between now and that level could be thought of as value. I would jump in slowly though, because as everybody knows, this market can be very volatile and that of course can pile up losses. I would stay away from using leverage at this point, because there is so much in the way of headline risk and of course general noise. I think that the market will eventually try to go to the $20,000 handle above, but it will take a certain amount of buying pressure and of course momentum to reach that important level. A break above that level would be very bullish, perhaps sending the market to much higher levels.

BTC/USD daily chart, January 08, 2018
BTC/USD daily chart, January 08, 2018

Regulators, Exchanges and their influence on Cryptos

What was gearing up to be an interesting week for Bitcoin has ended with little more than a huff, after talk of the South Korean government shutting down the country’s cryptocurrency exchanges, saw Bitcoin fall back to sub-$13,000 levels.

The reality is that such a move would have a far greater price impact than seen over the last week and the very fact that central banks and governments still have the power to have such a material impact on what is considered to be a decentralized, independent alternative to fiat currency goes to show that it’s not quite what it says on the label.

For now, the South Korean government appears willing to allow the exchanges to continue, though they will certainly be under increased scrutiny, and if there are more cyber-attacks that can be linked back to North Korea, then speculation may build again on whether there will be more from the government.

Other good news for Bitcoin was the China’s PBoC stating that there would be no ban on Bitcoin mining, though the talk of increased power consumption will test the government’s new found interest in the environment.

Regulatory risk remains one of the key risks that the cryptomarket faces and with Bitcoin being the largest by market cap, it has more to lose.

Bitcoin closed the day relatively flat on Thursday, down just 0.65% on the day, having fallen to an intraday low $14,192.37 in the early part of the day.

A lack of chatter and an uninspiring futures market has seen investors look elsewhere for gains. The Cboe Bitcoin futures January contract is up $115 to $15,060 at the time of writing, easing back from an intraday high $15,280. The limited upside and Bitcoin’s falling market dominance can be partially associated with the launch of the Bitcoin futures market last month.

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Adding further direction towards the cryptocurrencies is crypto-exchange chatter. As was the case on Thursday, with Coinbase killing off rumours of Ripple being included and last month’s talk of insider dealing and the resulting impact on Bitcoin Cash. These are just two examples of how much influence the larger exchanges have on the direction of the crypto-majors and in an unregulated environment, manipulation is likely to be more common than the news feeds suggest.

As the markets begin to view Bitcoin as more of a tradable asset class and less of a speculative investment that can derive exponential gains, sensitivity to the noise will be akin to the impact of central bank commentary on fiat currencies. The question will be whether crypto-exchanges will take advantage of their position of influence, as central bankers do, or simply provide the necessary platforms for investors to trade.

With Bitcoin down just 0.5% at $15,067.32 at the time of writing, the day ahead looks to be an almost mirror of how the market played out on Thursday and, if there any signs of one of the other cryptocurrencies looking to make a move, that’s likely to be another negative for the Bitcoin futures and Bitcoin clan.

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Bitcoin Gold DASH and Monero Price Forecast January 5, 2018, Technical Analysis

Bitcoin Gold

The BTG/USD pair drifted a bit lower during the last couple of sessions, but I think there is a significant amount of support near the $200 level underneath. The $300 level above is the absolute “ceiling” in the market, so I think that going back and forth is probably what we’re going to continue to see. However, if the US dollar moves significantly in the Forex markets, it will move the crypto currency markets as well. I think Bitcoin Gold is essentially a victim of Bitcoin, which has gone nowhere recently. In general, more back and forth trading and a range bound trading system should continue to be the way going forward.

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BTG/USD DASH USD and XMR USD Video 05.01.18

Kiev, Ukraine – October 23, 2017: Cryptocurrency coins – Litecoin, Bitcoin. Macro view of coins. Virtual currency, money.
BTG/USD daily chart, January 05, 2018
BTG/USD daily chart, January 05, 2018

DASH

DASH/USD pulled back during the trading session on Thursday, but we are still within the overall downtrend in channel, and I think that is the biggest driver. The downtrend in line at the top of the channel could be important. If we break above the $1200 level, the market goes much higher. However, I think the $1000 level underneath is support, and if we can break down below the $1000 level, the market probably goes looking towards the $850 level. Overall though, I think that we will probably stay within the range that makes up the downtrend in channel, so pay attention if we get some type of exhaustion above, that could be a short-term selling opportunity. If we were to break above the $1200 level, the market probably goes to the $1400 level after that.

DASH/USD daily chart, January 05, 2018

Monero

XMR/USD fell significantly during the trading session on Thursday, slicing through an uptrend line on the hourly chart. Because of this, I think that we may continue to see a bit of selling pressure as Monero may have gotten ahead of itself. $400 above obviously is massive resistance, so I think we’re going to go lower to look for some type of floor in the market, in the form of value. I think that the overall range between $300 on the bottom and the $400 level on the top continues to be the story here, so short-term I suspect that the sellers will get involved and push lower.

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Monero/USD daily Chart, January 05, 2018

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 05/01/18

Bitcoin Cash going nowhere for now

Bitcoin Cash continued to test $2,300 support levels through the 2nd half of Thursday and the early part of today, with the sideways moves coming from a relatively silent news feed.

The lack of Bitcoin chatter has certainly left the Bitcoin clan relatively flat, with Bitcoin Cash up just 0.49% to $2,361.1 at the time of writing.

The only good news was China’s central bank, the PBoC, killing of rumours that there was going to be a ban on Bitcoin mining.

Through the first week of the year, the rumour mill has certainly been active and just goes to show how key players in the cryptomarkets are able to manipulate prices through the chatter.

With Ethereum having hit $1,000 for the first time and some of the other major cryptocurrencies on the move, the lack of direction will be an issue for Bitcoin Cash investors.

To avoid testing $2,300 support levels for a 2nd day running, Bitcoin Cash will need to break out beyond $2,450, with this morning’s $2,487 spike failing to drive a rally up to $2,500 and beyond.

BCHUSD050118

Bitcoin Cash Chart by Trading View

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Litecoin desperate for a rally

There’s been very little for Litecoin investors to cheer about going into the New Year, with any attempts to break back through to $300 levels ending in Litecoin pulling back to its current $230 – $240 ranges.

Market consensus is that Litecoin remains particularly undervalued at present and that it’s due for a rally up to $400 levels.

While Bitcoin has seen investor interest diluted as a result of the exponential gains being enjoyed elsewhere, Litecoin has also fallen out of favour, with there being a lack of clarity on how exactly Litecoin will be able to compete with Bitcoin as an alternative to fiat money.

Bitcoin is already being accepted by vendors in cryptohavens and the acceptance comes in spite of Bitcoin’s shortcomings, which include particularly slow transaction times. Litecoin certainly addresses the issue, but until the team make some inroads we will expect attention to be placed elsewhere.

At the time of writing, Litecoin is up 1.29% to $242, with a move through to Tuesday’s $262 high needed for a more sustained rally through to $300 levels. Any prolonged move within the current ranges and Litecoin could be looking at sub-$200 levels in the near-term.

LTCUSD 050118

Litecoin Chart by Trading View

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Ripple Takes a Hit

Investors are starting to get a sense of what truly drives the cryptocurrencies and one of the key drivers is inclusion on the more prominent exchanges.

The crypto-rumour mill had played its part in Ripple’s stunning run through to a record high $3.34989 on Thursday, as investors speculated on Ripple’s inclusion onto the Coinbase exchange. The exchange’s announcement that it would not be adding any cryptocurrencies onto its exchange on Thursday afternoon saw Ripple fall back down to $2.85 by the close.

It’s been a choppy start to the day, by Ripple standards, with Ripple up 4.92% to $2.725 at the time of writing, recovering from an intraday low $2.45.

While Coinbase has talked down the rumours of Ripple’s inclusion, investors will be betting that such a move will be likely in the near future, particular when considering Ripple’s rise in prominence at the end of the year. The speculation will likely continue providing support, with Ripple unlikely to fall back down to earth anytime soon.

XRPUSD 050118

Ripple Chart by Trading View

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Bitcoin and Ethereum Price Forecast – BTC Consolidates, ETH Targets $1000

The bitcoin prices continued to consolidate and some semblance of serenity and control seems to have prevailed in the markets. While the moves over the last few months have been marked by frenzy and panic, the moves over the last few weeks have been much more matured and controlled. This points to the growth of the market and the entry of probably a new class of traders and investors who are looking at bitcoins as a more matured asset at this point of time. The speculators who had pushed the prices this way and that, in a violent manner, seem to have moved on to the altcoins and that is why we are seeing some quiet in the bitcoin market.

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BTC Consolidates

The prices have been fluctuating in a range on either side of $15,000 but unlike previous times, there does not seem to be any sign of panic in the markets. The trades seem to be well aware of the risk and the returns that are possible with bitcoin and are happy to see it take some rest and give away some of its attention to the other coins. The regulators also are likely to be happy with the way the bitcoin prices are moving at this point of time and this is an added plus for the bitcoin market.

Bitcoin 4H
Bitcoin 4H

We have been mentioned since the middle of December that the ETH prices are likely to hit the $1000 mark within the first week of January and now we are at the cusp of it and it is only now that others have begun to talk about it. For several months, we have been talking about the potential of ethereum and how it is likely to be stronger, fundamentally, than bitcoins and the price rise since then speaks volumes.

Forecast

Looking ahead to the rest of the day, expected the consolidation to continue in the BTC prices for today as well. The key figure for the ETH market would be the $1000 region and it appears that it would only be a matter of time before it is broken through.

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The Future of Cryptocurrencies: There’s a 20% Chance of a Significant Correction

What will happen next year? Crypto-technologies have integrated deeply into the financial world – the future of Bitcoin has already been announced, cryptocurrencies are indexed on exchanges, token sales successfully raise funds. Without any doubts, cryptocurrencies have become part of the economic landscape.

But will this development continue at the same incredible pace, or will it instead become more streamlined? Will the Bitcoin’s rate continue to grow, or can we look forward to some correction? How flexible or rigid is regulation going to become?

We asked the head of BANKEX Capital Network David Finkelstein to share his insights about the future of cryptocurrencies in 2018.

  • To what extent are cryptocurrencies accepted today?

Many affluent people today still have no faith in cryptocurrency, attributing its dynamics to the hype and expecting it to crash. Personally, I don’t believe in such collapse. I believe cryptocurrency is going to find its place in the modern economy, even though for the time being, unlike other assets, it has no fundamental evaluation.

When, for example, you purchase shares in Tesla, you can look to the various models in order to estimate the fundamental values of the shares. Which is why, if Tesla shares suddenly skyrockets, it will be clear to everyone whether its price is warranted. This model, at least, allows you to understand what kind of profitability the marketplaces in the shares.

In case of Bitcoin, however, there is no such model, so nobody knows how much it should be worth. From my perspective, its proper value is supposed to be derived from the quotient of USD people are willing to store in it. For instance, if people are willing to store $100M in Bitcoins, while the total amount of bitcoins is 21 million, we can divide one by the other then we will receive a reasonable exchange rate for Bitcoin.

  • Why store dollars in Bitcoins? Will cryptocurrency replace fiat currencies?

This is unlikely to happen. Because there are countries that can, at any point, put an end to the existence of the crypto world. It’s not complicated, but they don’t want to do it. What they want to do is to head this whole movement in order to collect taxes. That is why regulators all over the world are pondering how to find a better approach in this field. And when they come to a conclusion, which may well take time, the rules of the game will change.

  • Bitcoin is already being referred to as “digital gold” and one of its unique features is its finite amount. We don’t know how much gold there is in the world, and someone might discover a new mine and start extracting it. That is not the case with bitcoin. Imagine if there was a limited amount of dollars and you could never print more.

That’s normal, it means there is a secondary market needed. Bitcoin, like anything else, has its market price, which is currently being defined by crypto exchanges. In economics this is always the case: when a person has an asset, there will always be a sum for which the person would be willing to sell this asset. If everyone decides to sell the Bitcoins they have,  its price will decrease. Whereas if many people decide they want to buy them – their price will grow. But between them, there will always be an equilibrium price.

  • Will other cryptocurrencies as powerful as bitcoin emerge anytime soon? Right now we see an enormous gap between Bitcoin and all other cryptocurrencies.

Generally speaking, all cryptocurrencies is a whole. Bitcoin grows simply due to the fact that the concept of crypto-currency is associated only with it. The investments from non-professional players have begun to invest in Bitcoin and that stimulated such a growth – an asset can only keep growing while there is a demand for it. If it’s a bubble, then it bursts once the influx of buyers comes to an end. This leads to a natural state of panic and all starts to collapse.

  • Can you make a balanced portfolio out of cryptocurrencies? Even though they move together with Bitcoin?

Yes, you can. A balanced portfolio can be made out of anything. Every time we add any new asset, it decreases the overall volatility of the portfolio.

  • What should one add to bitcoin in order to make such a portfolio?

That depends on the goals of the portfolio. If it’s solely for sake of exposure to crypto, then you would need to add other cryptocurrencies. But there are many nuances. If it’s a long-term portfolio, then it would require some Bitcoin, some Ether, and some other cryptocurrencies, evaluating them in terms of reliability and combining them with reasonable counterweights. You can calculate the Kelly Criterion, optimize your portfolio… but all of this has to be done professionally.

  • Are there other secure cryptocurrencies besides Bitcoin and Ether that are worth including in your portfolio?

There must be, but I am not ready to name them. The reality today is that people mine whatever is the cheapest because it’s easier. But for now, the market has no faith in new currencies, because the power of a currency is defined by the number of people who use it, and this number is not great enough. So people mine it, then at the end of the day, they convert whatever they mined into Bitcoin because it’s considered more secure. How exactly this situation is going to change, I can’t tell now.

  • With the year coming to an end comes a time to make predictions. What do you think will happen to Bitcoin, how will the world of cryptocurrency develop in general?

If we are talking about exchange rates, then I don’t believe it will drop too much. There will not be a total crash. I would say there’s a 20% chance of a significant correction of Bitcoin rates to the level of $5000. For the same reasons I have already mentioned earlier – there is no fundamental model, based on which you could say Bitcoin is worth 5 or 100 thousand dollars.

In all other cases, whenever collapses occur in the market, there is always a fundamental price model, and that has been true for everything from tulips to shares in certain tech companies, that is, in my opinion, currently overrated.

In this case, either the market value catches up with the model and the asset rises or model catches up with the cost.

  • How much is the level of cryptocurrency acceptance going to grow? What will happen to regulations?

There is no doubt that everything is going to develop very rapidly. New products will emerge in capital markets and they will very find ways to implement crypto quickly. Basically, everything there is on the financial markets today will re-emerge with the form of crypto. And I do mean everything, such as advisory, investment management, financial management etc.

  • All the same, but with “crypto”?

It will more likely be crypto-fiat asset management. Asset managers now want crypto to be included in their portfolio. Another noteworthy trend is that at some point regulators will have to find a suitable place for crypto. I don’t think this field will enjoy as much leniency as there is now. There will be more regulations, as well as mutual conversions and eventual integration between fiat and crypto-financial services.

  • And of course, we have to bring up ICO…

I think ICO is very reasonable. Much like IPO and, before them, LLC – Limited Liability Companies, ICO provides people who receive capital to realize their ideas with even greater freedom. This new fundraising mechanism truly does accelerate the economy, therefore it’s very reasonable. Humanity has a natural need for ICO. Before that, there was no way of collecting 25 cents per person out of a million people, but now there is one. This injects more energy for the most ambitious projects, the greatest fantasies. ICO is a great idea!

  • So why do regulators try to ban ICOs while proclaiming it is to protect non-professional investors? Shouldn’t people think for themselves when choosing to give their money to whom?

The problem is there is a fine line between those who are raising funds for an actual project and frauds. The economy needs a mechanism to get rid of frauds. For instance, people take their company to ICO, then they just take the money and vanish without a trace. Or else they falsify accounting information and overrate the company’s value (as it happened with Enron). The regulator’s task is to distinguish frauds and legitimate businesses.

They are trying to do this with ICOs, although perhaps this task could be carried out with the help of the community, the communication between people. The regulator’s role is not to defend the investors, but to clear the market for scams. Non-professional investors are easily lured when you promise them a goldmine. And if there are too many cases of fraud, then it discredits the idea of ICO in the first place and makes people lose their faith in the crypto economy –That actually poses as disadvantageous to the government.

  • I know BANKEX token sale is coming to an end. How are you planning to use the raised funds? When should investors expect results from their investments?

Our website bankex.com has an elaborate description of our directions and roadmaps that we follow. For instance, in Q1 BANKEX will issue an innovative blockchain platform for movie financing. Led by Oscar-winning Hollywood producer Christopher Woodrow, MovieCoin™ will use BANKEX’s blockchain based Proof-of-Asset protocol and BKX tokens to help film industry raise funds with greater ease and speed.

As we are a B2B company, our token price is strongly associated with the news about BKX token usage. For example, when there is news that Ripple will be used by BBVA bank its price increased around 10x times.

Financial institutions that adopt BANKEX solutions will form the backbone of the early-era Internet of Assets. Our tokens will make this happen. Taking into account that in the future the number of services and ecosystem participants will grow, we realize that the volume of tokens should also increase. The tokens are designed as utility tokens and their primary function will be in circulation. The idea of issuing more tokens in the future is intended to keep the growth of the ecosystem with the focus on value.

Ripple Solves Business Problems: Bitcoin Bubble and the First Mover Advantage Problem

Could Ripple be a better choice than Bitcoin?

If I had to bet on one crypto coin, then the case for Ripple is far stronger. Most people do not dig into the technicalities. Ripple has a strong advantage when it comes to technology.

Whereas Bitcoin was principally established for peer to peer money transfer between individuals, Ripple was established to handle interbank transfer at the larger size. That means more volume and therefore more value of the coin.

Of course, it has the basics of any decent Cryptocurrency; first, connectivity across payments networks, second, the speed of instant on-demand settlement, third, real-time traceability of funds and finally, low operational and liquidity costs.

But what caught my attention is the global network of customers. Ripple has customers such as Santander, Standard Chartered, Credit Agricole, UBS, American Express, India’s Axis Bank, BBVA among others. That’s impressive and Ripple’s investors know that with a solid costumers portfolio, Ripple’s future is bright.

FYI, Ripple is not the original name of the coin, XRP is the name of the coin. Ripple is a private company, different than other cryptocurrencies, meaning, XRP is a centralized coin.


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Who Solves the Bigger Problem?

Ripple was created to solve an important problem, the transaction’s delays between banks. Currently when my business wires fund abroad through my bank, if any information is incorrect, the payment is returned and delays accrue. The chances of error are huge. If you’ve never sought an MT103 trace from your bank, you will not truly appreciate the problems of international corporate money transfer and the ensuing stress.

Ripple ensures both banks validate critical information such as customer ID, fees, rates, time of delivery before funds are transferred. This allows the bank to know beforehand if the transaction will pass or not and so remove the failed transaction problem. By removing the correspondent bank, we remove risk management issues too.

But unlike Bitcoin, which can take over an hour to settle, (still better than traditional systems taking 3-5 days, if you get to your bank before 1530!), Ripple settles in 4 seconds. By the way, Ethereum takes over two minutes.

Ripple handles about 1,500 transactions per second, 24×7. They do claim they can do match Visa scale of 50,000 per second.

Who is behind Ripple?

As mentioned above, Ripple is a private company and that XRP is a private cryptocurrency. As an asset manager running a private equity fund, I like to know who is investing a backing a company. Ripple’s shareholders include Andreessen Horowitz. Not heard of them? They backed PayPal as an original founding investor. How about Google Ventures, Santander InnoVentures, Standard Chartered and Accenture – all investors as shareholders in Ripple.

Traction

A traction of any technology is not just if the public is interested, but the big entities. In the case of Ripple, it does not get bigger than the Bank of England. The Bank of England Accelerator has published a report on how they may be able to use Ripple for real-time settlements.

This article was written by Alpesh Patel, a hedge fund manager and author of Trading Online (Financial Times). Patel is a partner to 24option, offering CFD trading on Cryptocurrencies.

The content of this article constitutes Marketing Communication and does not qualify as Investment Advice or Investment Research. 24option accepts no liability for the content of this article, or for the consequences of any actions taken on the basis of the information provided.

Cryptocurrencies Annual Market Recap – 2017

The digital currencies caught the attention of many traders and investors with some speculators selling their homes in order to own a pie of the crypto market. This golden goose chase made the digital coins reach a total market capitalization of over US$700 billion as at 3 January 2018. According to Coinmarketcap, 36 out of the 1386 listed cryptocurrencies have a capitalization of $1 billion and above. Bitcoin is the dominant crypto among the rest. It enjoys a dominance of 37% of the total market share as shown in the extract below.

Bitcoin % of Total Market Cap
Bitcoin % of Total Market Cap

Other cryptocurrencies such as Bitcoin cash were introduced in 2017 as a result of Bitcoin fork. Other coins have had their fame from the blockchain idea behind their creation; an example is Monero which is considered to be the most anonymous digital coin. Monero is famous among Dark web users and online gamblers.

Bitcoin Mining

Mining Bitcoin becomes complex over time, the algorithm used to arrive at the correct mathematical solution becomes harder and miners are engaged in a competitive process to arrive at the solution. Some miners have opted to join mining pools rather than individual mining because of the capital investment involved in setting and running the miners. Bitcoin mining is costly and involves the use of electricity; in fact, electricity is one of the main overhead. It is rewarding to mine Bitcoin since for every block added to the blockchain the miners are reward with 12.5 BTC.

The below image is a representation of mining difficulty for a period of 2017.

Mining Difficulty
Mining Difficulty

Altcoins mining

Altcoins have the same mining model as Bitcoin whereby, as more coins are mined the transaction cost (gas) increases and miners are continually required to go for advanced computer systems. New block verification methods have emerged such as the proof of stake (POS). Proof of stake is an alternative to proof of work and requires less effort to verify. The consensus is another viable option for verifying block transaction.

Bitcoin transactions 2017

Bitcoin popularity has been on the rise causing its demand and price to increase. A lot of people have been involved in acquiring Bitcoin wallet to store the digital gold or even trade it. Businesses also joined the bandwagon with countries such as Japan reporting over 260,000 stores accepting Bitcoin as a payment method. The result has been a rise in the number of Bitcoin transactions as shown in the image below.

Bitcoin Transaction
Bitcoin Transaction

Bitcoin mining volume

Bitcoin transactions across exchanges have been on the increase especially in 2017. 2017 saw many exchanges increase their volumes drastically. The image below is a two-year graphical representation of exchange volumes from exchanges worldwide. It is clear there was a progressive increase in Bitcoin volumes in 2017 with a peak being reached in December 2017 and the low being in around January 2017.

Bitcoin Trading Volume
Bitcoin Trading Volume

Cryptocurrency Profitability

Cryptocurrencies have been an admiration to many due to their high returns and problem-solving opportunities that they are associated with them. Many cryptocurrencies try to address the issue of decentralization as the primary goal while issues such as anonymity being secondary. Even though Bitcoin has been an admiration to many, its ROI was way below other cryptocurrencies. The excerpt below is a list of the top 19 digital coins that had the highest ROI in 2017, all exceeding the 9000% return mark.

cryptos

From the list above, Ripple is the only major cryptocurrency which managed to be on the list. Doubt as to the stability of these altcoins and the hash power of the coins might be the reasons for the slow adoption. Despite the hullabaloo about their features, they have had an astonishing return and upon investors getting confidence on the coins their prices might soar.

Cryptocurrencies security

Security remains to be a paramount consideration for any investor. Cyber-attacks and Security flaws of exchanges experienced in 2017 have led to the loss of investors’ portfolio. However, established coins and exchanges such as Coinbase have proven to be safe and reliable.

Move Over Bitcoin!

The Bitcoin Clan have been left floundering at the start of the year and Bitcoin has struggled to inspire, with the only good news of the year being the recovery from the end of the 2017 low of $12,050.

Bitcoin may have managed to hold on to the 2nd half of the day bounce on Tuesday, but since then, any attempts to break through to $16,000 levels have been thwarted.

Wednesday’s 2.95% gain will certainly not be grabbing any crypto-headlines and, as was the case on Wednesday, today’s high of $15,430.27 was followed by a sharp pull back to $14,873.95 at the time of writing, with Bitcoin down 1.88% in the early part of the day.

Bitcoin Cash and Bitcoin Gold are down 6.28% and 4.23% respectively, with Bitcoin’s fall weighing on the pair, while Litecoin was also feeling the heat, down 4.9%.

It’s not all doom and gloom in the cryptomarkets however, with Ripple’s continued rise drawing plenty of attention and all for the right reasons.

Following the team’s decision to place the XRP coins held into escrow to bring comfort to the markets that there would be no flooding of XRP coins in the event of a price rally, the gains have been exceptional since and one gets the sense that Ripple has only just warmed up.

Not a bad starting point, with Ripple having already surged to the number 2 spot by market cap, with Bitcoin now in its sites. On its current trajectory, it’s not going to take long before Ripple splashes its way past Bitcoin into the number 1 spot. The sudden shift in momentum is no mean feat when considering the surge in the cryptomarkets, with the global market cap having moved above $700bn for the first time on Wednesday.


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Previous surges in the global market cap had usually been attributed to Bitcoin, but things have changed and this week, Bitcoin has seen its market cap fall to around 35% of the global market cap, which is an all-time low.

The roll out of Bitcoin futures looks to have stifled what was once the darling of the cryptoworld and with hot cryptos, including Ripple and Stellar Lumens to play with, Bitcoin’s grip on the number 1 spot is likely to loosen further.

Many had expected Ethereum to challenge Bitcoin, with Ethereum ever present in the funding of ICOs, but with Ripple’s ascendency and trailblazing start to 2018, the momentum alone could see Ripple ride the wave past Bitcoin.

Bitcoin investors may be wondering what might have been and where Bitcoin would be sitting, if the advice of leading financial institutions had been heeded to and the roll out of Bitcoin futures had been delayed in the interest of allowing the market to age more.

But, while the Bitcoin Billionaires will sit on their accumulated wealth, those dreaming of joining the crypto-millionaire club will be on the hunt and Ripple looks to be an obvious choice.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 04/01/18

Bitcoin Cash in Reverse

Things were looking upbeat for Bitcoin Cash through the early part of the day on Wednesday, only for things to go into reverse by the middle of the day, with investors quick to lock in profits as it hit a New Year high of $2,775.

Bitcoin futures continue to do the damage to the Bitcoin clan and things are no better in the early part of today, with the Bitcoin Cash slide in full swing since yesterday’s high.

At the time of writing, Bitcoin Cash was down 6.33% to $2,396.9 and, while Bitcoin Cash futures are sitting above Bitcoin’s current value, there are just some better choices in the cryptomarkets, with Ripple and Stella’s Lumens tearing the field apart.

With an intraday low of $2,284.0, Bitcoin Cash will need to make a move through to $2,450 levels to make a run at yesterday’s high, with any moves down below $2,350 likely to test $2,300 support levels. It’s looking a bit bearish this morning…

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Bitcoin Cash Chart by Trading View

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Litecoin Follows Bitcoin into the Red

Things have not been going Litecoin’s way and Thursday’s declines could be the start of something more sinister for Litecoin and its investors.

At the time of writing, Litecoin was down 4.6% to 233.72, sitting just above an intraday low of $233.

Since the founder’s announcement to sell-off his Litecoins, there has been little to news to provide support to Litecoin, with a failure to break back to $300 since 23rd December leaving investors to consider alternative investment opportunities within the cryptomarkets.

Without any catalysts, we will expect Litecoin to continue to struggle and feel increasing peer group pressure from the likes of Lumens (XLM) and Ripple (XRP).

While there’s likely to be strong support at $230, any fall to sub-$230 levels could see Litecoin fall back to $220 levels, with Litecoin needing to make a move towards $250 for a run at this year’s high of $261.99.

LTCUSD 040118

Litecoin Chart by Trading View

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Ripple is on a Mission

Ripple has taken the cryptoworld by storm since its mid-December move out of the $0.22 – $0.25 ranges, with gains of 58.8% in the first few days of the year alone. It’s been record highs on each day of trading this year and the daily gains have just been getting stronger for Ripple.

Following Wednesday’s 29.3% rally, Ripple is up 12.75% to $3.14 at the time of writing, with a new high of $3.25 this in the early part of the day.

For now it just looks as though Ripple can do no wrong and, with the momentum on its side, is hot on the heels of Bitcoin for the #1 spot in the cryptoworld.

It’s going to be tough to bet against Ripple if the gains in the last few weeks are anything to go by and with its blockchain technology the most likely to succeed in the adoption of blockchain technology, it’s going to be a HODL for Ripple investors who are no doubt enjoying the ride.

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Ripple Chart by Trading View

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Bitcoin Gold DASH and Monero Price Forecast January 4, 2018, Technical Analysis

Bitcoin Gold

Bitcoin Gold was choppy and messy during the trading on Wednesday, as we continue to dance around the $250 level. It looks to me as if the market isn’t ready to do much, and I think that rallies at this point will probably be a selling opportunity, and with that being the case, it’s likely that the market will be very difficult. I think that the $300 level above could be the target, but there so much in the way of resistance between here and there. Alternately, I think that the “floor” is at the $200 level, so we could drift down there as well. Quite frankly, this is a very messy market that isn’t worth being bothered with right now with low-volume, and unclear directionality.

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BTG/USD daily chart, January 04, 2018

DASH

DASH/USD fell a bit during the trading session, as we have struggled at the top of a downtrend in channel. If we break down below the $1050 level, I think that the market continues to go much lower, perhaps reaching towards the $1000 handle, and then down to the $900 level. Alternately, if we can break above the $1200 level, the market should go much higher, perhaps reaching towards $1400 given enough time. Either way, I expect that dash will eventually find buyers, the question is whether we buy on a breakout, or some type of dip that offers value?

DASH/USD daily chart, January 04, 2018
DASH/USD daily chart, January 04, 2018

Monero

Monero continue to grind to the upside during the session on Wednesday, as we are working towards the $400 level. If we break above there, the market should continue to go much higher, so I am waiting for a break above that level before us are putting money to work. Alternately, we could roll over and go to the $300 level underneath which is the “floor” in the market. Given enough time, I think that we will get the breakout we need, but right now volumes are very thin, and Monero seems to be just drifting around without any significant direction. The longer we drift, the more likely we are to see some type of selloff. This is because there is very little in the way of volume in this market to begin with, and if nobody’s left to buy, people will all start heading towards the exits at the same time. Otherwise, it looks as if it is bullish, but you are going to need to be extraordinarily patient.

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Monero/USD daily Chart, January 04, 2018
Monero/USD daily Chart, January 04, 2018

Bitcoin Price Analysis January 4, 2017, Technical Analysis

Bitcoin has been volatile during the trading session on Wednesday, as we continue to bounce around in consolidation between the $13,000 level on the bottom, and the $16,000 level on the top. I believe that the market is trying to build up enough momentum to go higher, but it’s not until we clear the $16,000 level that I think you can throw a lot of money into the fray. I think that a break above the $16,000 level probably opens the door to the $18,000 level after that, but it will take a significant amount of momentum to break above there. Once we do, then I think you can get a bit more aggressive about your trading position. However, in the meantime I think that volumes are still very thin, something that’s been very interesting to witness as the futures markets opened. Quite frankly, the volume hasn’t returned since then, and when we do see volume, it’s typically in a negative move.


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BTC/USD Video 03.01.18

I believe that although Bitcoin may rally from here, there is serious structural damage that has been done. Because of this, if we were to break down below the $12,000 level, I would become aggressively short and aim for the $10,000 level, followed shortly by the $8000 level which is the 50% Fibonacci retracement level of the larger move. Ultimately, that could be what happens, but I also recognize that this market has been a rational more than once, so a parabolic move to the upside is most certainly within the realm of possibility. It is because of that possibility that I look at a break of the $16,000 level as a massive signal to start buying. Buying on the dips can also work, but you will have to be very cautious along the way, as large positions will be subject to nauseating swings and profit and loss. I believe that eventually, we will get a clearing out of the “dumb money”, but we are not quite ready to have that happen yet.

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BTC/USD daily chart, January 04, 2018

Bitcoin and Ethereum Price Forecast – BTC Prices Choppy, ETH Breaks Through $900

The bitcoin prices have been moving higher over the last 24 hours as the news that the Paypal co-founder Peter Thiel and his fund invested a lot of money in bitcoins has been doing the rounds and this has helped to boost the investor sentiment. We are not sure whether this single piece of news would be enough to turn the tide in the favor of the bulls and whether this news would be enough to convince the investors that all is well with the bitcoin market despite the regulatory crackdown in the industry over the last few weeks. We believe that it would take much more than that for the bitcoin bulls to begin feeling confident again and proof of that is the fact that the prices have dropped below the $15,000 region as of this writing and it appears as though the region around $15,000 would be crucial for the bulls to ensure that the prices continue to move higher.

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Battle On in the $15,000 Region

The bitcoin market has been under pressure of late due to the introduction of the bitcoin future which has helped many traders and investors to begin shorting bitcoin. Also, we are seeing more and more regulators sit up and take notice of the bitcoin industry, more than any other industry and this has added the pressure on the speculators who had been one of the main reasons for the prices to continue to move higher despite various challenges that the bitcoin market has been facing over the last 6 months. This year should be an important one for the survival of this industry as a whole as it comes under increased scrutiny.

Bitcoin 4H
Bitcoin 4H

This has benefited altcoins like Ethereum which has broken through the $900 region over the last 24 hours. We had mentioned a few weeks back that we expect the ETH prices to break through the $1000 region during the first week of  January and so far, it looks well on target. The fact that the mining of ETH is likely to go down in the near future is only going to cripple the supply and help to push the prices even higher.

Forecast

Looking ahead to the rest of the day, expect a battle in the BTC market between the bulls and the bears for control, around the $15000 region over the next 24 hours. The ETH prices are likely to continue moving higher and it should only be a matter of time before the $1000 region in challenged.

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Bitcoin Monthly Forecast – January 2018

After the large move higher during the month of November and the momentum in the prices over the last couple of months, the bitcoin bulls cannot be faulted if they had expected more of the same during the month of December. The interest in the bitcoin market continued to grow and we saw more and more players walk into the market making it bigger and attractive as well. This only added to the demand in the bitcoin market and with the supply being limited, it is only natural to expect the prices to move higher.

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Bitcoin Market Faces a Challenge

But what the bulls did not expect was the whole new dimension being brought into the market by the introduction of bitcoin futures. The first half of December saw the introduction of bitcoin futures in both the CME and the CBOE and for the first time in the history of the bitcoin market, the traders and the investors had an opportunity to hedge the cryptocurrency. This is something that was new to the crypto market and with this introduction, it brought in much more of a balance between the bulls and the bears. By this time, the bitcoin prices had become a raging bull and for a brief while, it did go as high as the $20,000 region but thats the highest that it got during the month.

Bitcoin Weekly
Bitcoin Weekly

The futures trading led to a bigger and more equal fight between the bears and the bulls and this helped to control the demand and the prices as well. Also,with more and more traders coming into the bitcoin market, the regulators also began to feel the need to step in and do something to regulate the frenzy and the prices as well. That is why we saw more action against the bitcoin industry from various regulators and the actions ranged from total bans to shutdown of exchanges, levying of taxes on gains made etc. One of the biggest bitcoin markets, South Korea, also saw the regulators step in and express their concern over the frenzy they began to look at measures to control the markets which included more auditing, stricter KYC, taxes and also considering shutting down exchanges as well. All these events and news were enough to scare away the investors and traders as well as the speculators and they began to turn their attention to altcoins like ethereum, litecoin and ripple and this led the BTC prices lower and it closed the month below the $15,000 region.

Bitcoin Prices Expected to be Choppy

Looking ahead to January, we expect some of the underlying bullishness to show through but it has to be said that the situation is still fluid as far as regulation is concerned. There are various measures being planned in different parts of the world and nothing is certain until and unless the regulators come out and spell out their plans. The bitcoin market should be happy that they have made the central banks sit up and take notice and this extra attention on the BTC market is good for the long term. Regulation is also likely to bring in the bigger investors and banks into the market which will help it to mature in the medium and long term and drive away the speculators and the volatility as well.

But so far, there has not been any concerted action from the regulators and this raises a lot of uncertainty and risk in the BTC industry. This is the reason for the weakness in the BTC prices and for the investors and speculators looking at altcoins so that they could make some quick profits on them before they also come under the focus of the regulators. It is an ever changing market and technically, we believe that the $15,000 region should present a bit of a resistance to the BTC bulls and once that is cleared, the bulls would be looking at $16,500 which should present a bigger challenge in the short term. As explained earlier, the situation is ever changing and that is why it is important that the traders keep their fingers on the trading button in such a volatile market as anything could happen in any part of the BTC market which could affect the prices a great deal and bring in volatility either way.

Is Bitcoin Ready to POP!?

Bitcoin managed to find its feet in the 2nd half of the day on Tuesday, rallying from an intraday low $12,910.58 to $14,848.91 by the close, shy of an intraday high of $15257.53.

The upside through the day came following some sideways moves through the turn over the year, with the cryptomarkets considering the possibility of the South Korean government shutting down the country’s crypto-exchanges.

On Tuesday, the South Korean government provided a further update on its intentions, stating that the opening of anonymous crypto-exchange accounts would be banned from the 3rd week of January, on or around 20th.

Exchanges will be required to bring on board KYC processes similar to those carried out by banks, while anti-money laundering rules will also need to be improved and, in some cases, incorporated.

There was no suggestion that there would be an outright shutdown of exchanges, though a failure to adopt the new regulations may well result in suspension or closure once enforced.

Adding to the upside in the last 24-hours was news of the Founders Fund’s holdings in cryptocurrencies, including Bitcoin, with the Fund reportedly having bought between $15m-$20m of Bitcoin, which contributed to the hundreds of millions of dollars in cryptocurrencies held by the Fund.

The smart money also responded to the news through Tuesday, with Bitcoin Futures on the rise, supporting Bitcoin investor sentiment, with the pair having been tracking each other through the morning.

Things are not too dissimilar in the early part of the day today, with Bitcoin up 3.15% to 15,141.53 at the time of writing and Cboe’s Bitcoin futures January contract up $375 to $15,430.

Bitcoin may have eased back from an intraday high 15,500, but with the current spread favouring Bitcoin futures’ January contract, there will likely be some more upside for Bitcoin through the afternoon, though the futures markets will need to hold on to current levels.

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Looking at the Cboe’s February and March contracts, pricing has improved with Bitcoin expected to see upward momentum through the 1st quarter, though there are certainly no hints of a rally to the dizzy heights of $20,000.

This will continue to be an issue that Bitcoin will face and may ultimately lead to a further decline in Bitcoin’s market share. Unless the smart money is willing to bet that Bitcoin is going to make more sizeable jumps intraday, as it has been known to do through its relatively short history, investors may well look elsewhere for the exponential gains that are still likely to be delivered by some of the more than 1,300 cryptocurrencies in the market today.

Lumen (XLM), for instance, is up 22% this morning and up by 94% in just the first few days of the year, compared with Bitcoin’s 9.09% year-to-date gain. That’s quite a difference in return, with even Ripple delivering more than 20% through the first few days. Some will sit tight, hoping that Bitcoin can make its 2017 jumps through the year, with the knowledge that even the 9.09% gain is well ahead of any of the global equity markets and will likely to remain ahead over the near-term at least.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 03/01/18

Bitcoin Cash on the Move

What a difference a day makes and, while in the early hours of yesterday Bitcoin Cash was struggling to hold on to $2,300 levels, a move through to $2,400 in the middle part of the day was just the tonic, with Bitcoin Cash closing out Tuesday at $2,579.

Momentum has remained with Bitcoin Cash this morning, gaining a further 5.15% to $2,683.9 at the time of writing.

The upside has come in spite of the South Korean government formalizing the date on which the ban on the anonymous buying and selling cryptocurrencies will be enforced, that being during the 3rd week of January.

The lack of reference to a possible shut down of cryptocurrency exchanges was good enough for the cryptomarkets, though it’s yet clear what other rules and regulations will be rolled out to ensure that the KYC rules are appropriately followed by the respective exchanges.

BCHUSD030118

Bitcoin Cash Chart by Trading View

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Litecoin falls behind

Litecoin managed to bounce back from an intraday low $250 in the early part of the day, though it’s still struggling to hold on to Tuesday’s afternoon rally, which saw Litecoin move from $244.81 to a $262 high before easing back ahead of the close.

At the time of writing, Litecoin is down 0.02% to $253.28, though with Bitcoin and the gang in positive territory, Litecoin should find some support from the improved sentiment across the cryptocurrencies.

Bitcoin’s gains today will have held back a Litecoin rally, though as Bitcoin continues to give up its dominance over the cryptomarket, Litecoin could begin to move more independently. Much of this will depend on Litecoin’s marketing team.

As the Ripple team have demonstrated, the correct messaging can have a significant influence on value.

For the day ahead, Litecoin will need to move through to $260 levels to hold on, with any fall back to sub-$250 levels likely to see a move back to the low $240s. There’s a lot of competition out there and Litecoin’s going to need to deliver to investors, or things could get a little shaky.

Litecoin Chart by Trading View

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Ripple takes back control

Tuesday may have started a little choppy for Ripple, but early morning fall to $1.93 didn’t last long, with Ripple finding strong support at $1.93 levels.

It’s been positive since the early hours of yesterday, with Ripple closing out Tuesday at $2.1999 before this morning’s 6.45% rally to $2.35.

In recent days, while Bitcoin Cash may have bounced back from its recent ranges, Ripple looks to be the leading dip and pop cryptocurrency and has garnered significant attention since surpassing Ethereum in the market cap rankings into 2nd place. Ripple is the cryptomarket’s HODL currency of the day and we may well see Ripple splash into unchartered seas through the day, with the $2.48 high certainly in sight.

The Ripple team has done a phenomenal job in bringing the currency up the rankings and, as its platform gets more widely recognized within the world of finance, Ripple will continue to progress.

It wasn’t long ago that Ripple was sitting at $0.23 levels, December being the turning point for investors and the team.

XRPUSD 030118

Ripple Chart by Trading View

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