Price Analysis

Bitcoin price analysis: Ethereum and Ripple’s XRP

Bitcoin

Bitcoin has managed to stay above the $10,000 mark as most top coins show positive performances in the last twenty-four hours. Bitcoin, Ethereum and XRP had dropped at the beginning of this week but are currently showing an upward trend.At the time of writing this, according to coinmarketcap aggregation, Bitcoin price currently trades at $10,148, which represents a 1.45% increase in 24 hours. Some market experts believe that BTC will experience a bull run soon.

It is important to note that some events may propel Bitcoin to new highs. These events include;

  • The launch of Bakkt Bitcoin futures trading platform which will take place on the 23rd of September 2019. The launch of Bakkt is highly expected to catalyze a Bitcoin bull run.
  • SEC will be ruling on two ETF decisions in October. If both ETF applications are accepted, then Bitcoin trade will receive a significant boost and prices will go high.
  • The ultimate date that’s awaited is the Bitcoin halving which will happen next year. The event which will reduce the supply of Bitcoin and consequentially cause a price hike is only 268 days away.

Ethereum

ETH has been one of the best performing tokens in the last 24-hour period. Ethereum currently trades at $191.10, a 2.79% growth in a day. The token has a market capitalization of $20.53 billion and a twenty-four-hour trading volume of $7.18 billion. According to Chris Burniske, who is a notable crypto investor, ETH has been in a bear market and hops that it will continue to go up.


Ripple’s XRP

This is the third-largest altcoin with a market cap of $11.63 billion and a trading volume of $1.03 billion. XRP currently trades at $0.271088 which signifies a 2.21% one day increase. XRP has had quite some controversial cases over the recent past with investors petitioning for XRP developers to stop dumping of more XRP.

The total crypto market capitalization stands at $265 billion with a 24-hour volume of $54 billion, and Bitcoin still dominates with a 68.5% share of the total market.

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coinmag

Daniel is an experienced writer with a keen eye on emerging technologies. He aims at educating the crypto community on the developments within the space.

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