The crypto market has always been intense in the ten years of its existence. The way investors never know what to expect can be comparable to a story that always keeps the audience on the edge of their seats. However, an aspect of the crypto market that has been particularly interesting is the relationship between the two leading crypto coins, Bitcoin (BTC) and Ethereum (ETH). This dynamic is important not only for these two cryptocurrencies but also for the crypto market as a whole.
The pair entered the decreasing price range in the summer of 2017 and has been struggling ever since. The value at the time was 0.15, however, currently, the price is the lowest for the ETH/BTC pair standing at 0.02. The predictions for the pair seem bearish, yet, breakdown of the current downward trend is very much possible. It was expected that after the Ethereum Istanbul hard fork and as the network is making a switch from Proof of Work to Proof of Stake, the Ether price would rise, but the prediction didn’t turn out to be true.
Although there is still a month left before the end of 2019, if the crypto market stays as volatile as it is now, it won’t be good for Ether. Compared to USD, Ether is sitting just below the 150 USD mark at 149.3 USD.
XRP, on the other hand, remains in the range of above 0.20 USD and is successfully dodging a bearish spiral. Currently, the XRP price is sitting at 0.227 USD. The resistance range above 0.227 USD is 0.237 USD and below, the support range is at 0.22 USD. XRP predictions for the near future are bullish.
Cryptocurrency prices are in a season of change and Bitcoin is leading it as the next reward halving approaches. To know more details about Bitcoin and its price, take a look at Bitcoin Price updates and Bitcoin (BTC) Price Predictions.
The post BITCOIN AND CRYPTO MARKET SHIFTS appeared first on Crypto - Bitcoin News, Forecast and Analysis.
from Crypto – Bitcoin News, Forecast and Analysis https://www.cryptocynews.com/bitcoin-crypto-market-shifts/
via Bitcoin News
via Bitcoin News Today
No comments:
Post a Comment