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Home / Business / Bitcoin, ETH, XRP and LTC had a great week – what's next?

Bitcoin, ETH, XRP and LTC had a great week – what's next?




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Last week was a great week for major cryptocurrencies, especially for Bitcoin and Litecoin. Bitcoin was up 9.48%, ETH was up 5, 52%, XRP was up 1

.49%, and LTC was up 8.60% – see Table 1. Bitcoin rose above key $ 10,000.

Table 1

Seven-day price change for major cryptocurrencies

Cryptocurrency [19659006]% 7d
BTC 9.48%
ETH 5.52
XRP 1.49
LTC 8.60

Coinmarketcap.com 9/7/19 at 2:30 PM

It's a big turnaround from last week, which was a brutal week, as discussed in a previous piece here.

The problem is that the rally was narrow, with only 42 cryptocurrency advances out of the top 100 – see Table 2.

Table 2

Number of cryptocurrencies that advanced / decreased in the Top 100 ranks

Cryptocurrency Currency / Denial Number [19659007] Ad vance 42
Decile 58

Source: Coinmarketcap.com 9/7/19 at 2:30 PM

That means money that flowed into larger cryptocurrencies was not new money , but money coming out of other cryptocurrencies.

And that is not a good technical sign for the near future.

Dave Hodgson, director & co-founder of & nbsp; NEM Ventures, is still bullish for major cryptocurrency, and Bitcoin in particular. BTC has been trading within a defined range since mid-July and has been testing light levels of support that have kept and gradually increased. The area in the last 2-3 weeks has tightened and has been largely sideways in the medium term. "

Why is it bullish?" Traditionally, BTC does not remain in a tight area for a long time, so I expect to see that change in the short term, "he explains." The current situation feels like a consolidation phase, and I expect changes in mid-late September, closing the year with a higher value than the current one. "

Christel Quek, Chief Commercial Officer and Co-Founder of BOLT, is also bullish on Bitcoin. & Nbsp;" With cryptocurrency markets gaining strength in recent months, Bitcoin has been the biggest benefactor, outperforming all the coins they the past three months and further consolidated the market dominance, "he says." Currency currently has a 71% share of called PTO market capital, with the price stabilizing at $ 10,000 levels. ”

And things will get better . "Now that we are looking at Bitcoin from a new vantage point with continued technical strength, the blue sky is ahead – it seems the conditions were right for such gains, while the general market consensus assumes that we have entered the early phase of the next ox cycle " he says.

Quek has a mixed view in other major currencies. He sees Ethereum continue to be subdued under a bearish market and Ripple struggles to maintain price levels and consolidate at $ 0.25 levels.

Christophe De Courson, CEO of Olymp Capital, has no idea what happens to Bitcoin in the short run. " When it comes to price variations in bitcoin or cryptocurrency, I'm still agnostic, "he says. Reflecting on the past six months, we've seen a reversal of the bearish trend and seen Bitcoin skyrocket from $ 3,125 in mid-December to $ 13,880 toward the end of June. We are witnessing the consolidation of this long-term beef trend, with volatility receding and the bitcoin price varying between $ 9,000 and $ 12,000. ”

But he is still capable of the digital currency in the long run. Considering financial uncertainties for 2020 (including Brexit, QE from the Central Bank and the upcoming US elections), as well as the growth of crypto-based derivative product offerings for institutional investors (VanEck, Bakkt and Seed CX), we are positive on the Bitcoin price of medium and long term. long term. "

John Powers, Chief Strategic Officer for Findora and former Chief Executive Officer of Stanford's $ 25b capital, is also bullish in the long run. "Thanks to the growing range of institutional class cryptocurrency (bitcoin, etc.) and blockchain investment products, investors are able to participate in cryptocurrency markets in a variety of ways," he says. "As trade and economic tensions continue, we expect institutional investors to include a cryptocurrency component as part of their asset allocation and provide cryptocurrency price support."

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Last week was a great week for major cryptocurrencies, especially for Bitcoin and Litecoin. Bitcoin was up 9.48%, ETH was up 5.52%, XRP was up 1.49%, and LTC was up 8.60% – see Table 1. Bitcoin rose above the $ 10,000 key.

Table 1

Seven Day Price Change for Major Cryptocurrencies

Cryptocurrency % 7d
BTC 9.48%
ETH 5.52
XRP 1.49
LTC 8.60

Source: Coinmarketcap.com 9/7/19 at 2.30 pm

It's a big turnaround from last week, which was a brutal week , as discussed in a previous piece here.

The problem is that the rally was narrow, with only 42 cryptocurrencies out of the top 100 – see Table 2.

Table 2

Number of cryptocurrencies that advanced / slowed in the top 100 ranks

Cryptocurrencies Advance / Decline Number
Advance 42
Decile 58

Source: Coinmarketcap.com 9/7/19 at 2:30 PM

That means the money flowing in im ajor cryptocurrency was not new money, but money coming out of other cryptocurrencies.

And that's not a good technical sign for a near future.

Dave Hodgson, director and co-founder of NEM Ventures, is bullish for large cryptocurrencies, and in particular Bitcoin. BTC has been trading within a defined range since mid-July and has been testing light levels of support that have kept and gradually increased. The area in the last 2-3 weeks has tightened and has been largely sideways in the medium term. "

Why is it bullish?" Traditionally, BTC does not remain in a tight area for a long time, so I expect to see that change in the short term, "he explains." The current situation feels like a consolidation phase, and I expect changes in mid-late September, closing the year with a higher value than the current one. "

Christel Quek, Chief Commercial Officer and Co-Founder of BOLT is also bullish on Bitcoin." With crypto markets that have gained strength in recent months, Bitcoin has been the biggest benefactor, overperforming all coins over the past three months and consolidating market dominance further, "he says." The currency currently holds 71% of the crypto market capital, with the price stabilizing at $ 10,000 levels. ”

And things will get better . "Now that we are looking at Bitcoin from a new vantage point with continued technical strength, the blue sky is ahead – it seems the conditions were right for such gains, while the general market consensus assumes that we have entered the early phase of the next ox cycle " he says.

Quek has a mixed view in other major currencies. He sees Ethereum continue to be subdued under a bearish market and Ripple struggles to maintain price levels and consolidate at $ 0.25 levels.

Christophe De Courson, CEO of Olymp Capital, has no idea what happens to Bitcoin in the short run. " When it comes to price variations in bitcoin or cryptocurrency, I'm still agnostic, "he says. Reflecting on the past six months, we've seen a reversal of the bearish trend and seen Bitcoin skyrocket from $ 3,125 in mid-December to $ 13,880 toward the end of June. We are witnessing the consolidation of this long-term beef trend, with volatility receding and the bitcoin price varying between $ 9,000 and $ 12,000. ”

But he is still capable of the digital currency in the long run. Considering financial uncertainties for 2020 (including Brexit, QE from the Central Bank and the upcoming US elections), as well as the growth of crypto-based derivative product offerings for institutional investors (VanEck, Bakkt and Seed CX), we are positive on the Bitcoin price of medium and long term. long term. "

John Powers, Chief Strategic Officer for Findora and former Chief Executive Officer of Stanford's $ 25b capital, is also bullish in the long run. "Thanks to the growing range of institutional class cryptocurrency (bitcoin, etc.) and blockchain investment products, investors are able to participate in cryptocurrency markets in a variety of ways," he says. "As trade and economic tensions continue, we expect institutional investors to include a cryptocurrency component as part of their asset allocation and provide cryptocurrency price support."


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