At Coin Inquire, we offer free Trade Signals & Analysis of Cryptocurrency With Good Growth Potential. Today Sep 22th, 2019, we are beginning a new series of free Signals & Analysis for top cryptocurrencies.
The Bitcoin seems to have found a new home as it hovers close to USD 10000 squeezing the range of top and bottom. These levels seems to be the new home for Bitcoin. The prices hit a high point of USD 10,386.87 and the lowest point of USD 9,851.69 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, RightBTC (2.85%), BKEX (2.32%) and IDAX (2.20%)
Among prominent news around Bitcoin, William Mouyagar, a crypto influencer and author of the famous book “The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology” said that he believes that bitcoin will get to $25,000 when 2019 comes to a close.
Ethereum is back to life and now sits over USD 200. Ethereum on the top, this week were at USD 222.87 and were at lows of USD 189.69 . The markets that were more active, in volumes, with ETH across various pairs this week were Coineal (4.98%), CoinEgg (4.37 %) and LBank (3.11%)
Among news surrounding Ethereum, the ProgPow proposal, which will reinstate an ASIC-resistance hashing algorithm has faced backlash from the Ethereum wider community despite some consensus from the Core Devs
On the top, this week the prices of XRP were at USD 0.322034 and towards the bottom it quoted USD 0.259181. The exchanges that were more active, in volumes, with XRP across various pairs this week were, BCEX (5.28%), RightBTC (5.10%) and LATOKEN (4.47%)
For XRP this week, SVP of product at the Ripple, Asheesh Birla said that Ripple is working on expanding their XRP-powered cross-border payment product xRapid.
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on September 22 at 2:30 pm IST) were
- Gexan- Showing a rise of 239.13%
- DEX- Showing a rise of 215.33%
- Ethereum Gold Project- Showing a rise of 169.65%
- ETERNAL TOKEN – Showing a drop of -57.30%
- Swap- Showing a drop of -52.23%
- Sparkle – Showing a drop of -46.26%
What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.