Market Analysis

Weekly crypto review: How bitcoin, Ethereum, and XRP are doing

In today’s weekly crypto review, we’ll take a deep dive into how the top three digital currencies are performing. These coins, namely Bitcoin, Ethereum and Ripple gained significantly on 15 October after receiving a brief bullish boost. However, they have since lost these gains, and we are going to look at how they are doing.

Bitcoin (BTC)

On 15th October, bitcoin’s price was bullish. However, the following day, it started consolidating its losses below the resistance at $6,820. The coin’s price was expected to continue with the bullish momentum but the opposite happened.

However, according to a review of bitcoin’s history, it shows a transformative technology whose greatest moments have yet to come. In a chronological order, these are some of the days that shook the bitcoin sphere:

Second, Bitcoin hit $1,000 on November 27, 2013. This day felt epic, but $1,000 was entering the realm of fantasy. Bitcoiners hadn’t dreamed the milestone might be reached so soon.

Bitcoin hits $20,000 on December 17, 2012. Through November and December of 2017, every day was filled with giddiness, over-exuberance, ridiculous headlines, and all the other signs that, in hindsight, pointed towards a market that was way overbought.

Ethereum (ETH)

Just like Bitcoin, Ethereum was bullish on 15th , but had turned bearish by 16th. However, if bulls manage to regain momentum and the price rallies above the overhead resistance, it may move all the way up to the $350 level.

Ripple (XRP)

XRP formed higher lows and higher highs over the past week, creating a rising channel visible on its 4-hour time frame. The coin’s price is currently trading at $0.45 after gaining 2% in the last 24 hours. The platform has experienced increased adoption and we have high hopes for the coin’s future price.

Based on today’s weekly crypto review, do you share similar hopes for Bitcoin’s future price?

Share your views in the comments section below

coinmag

Having contributed to many leading financial blogs, Ken's love for cryptocurrencies and the blockchain technology has him on high alert on all price developments within the cryptocurrency sphere.

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