For some time now, the rise and fall of most cryptocurrency have been an issue on the crypto market. Patterns of cryptocurrency vary with respect to time which makes trading more interesting.
There are several crypto coins but just a few of them are predictable. Those that are unpredictable makes trading more difficult due to its value and characteristics in the crypto market. Crypto coins that are popular are likely predictable compared to those that are not. These are some of the predictable coins based on their value and characteristics in the crypto market.
Predictable coins such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), EOS, Bitcoin cash (BTC), etc. turn to resist the loose of pattern in cryptocurrency market capitalization (Price Graph).
The first and well-known cryptocurrency (Bitcoin) has been on top of the hill for a long time. The rise and fall of its trend are quite straight forward and it is the first coin invented makes which makes it gain more popularity. Bitcoin is likely to be at its peak when there is less attention to it.
Whenever the money supply increases, the cryptocurrency value decreases. Therefore, paving a way for bitcoin to resist a high range fall in monetary value.
The next in line is Ethereum (ETH), well I call it the little brother of Bitcoin. Ethereum is one of the predictable coins with special features. Aside from being a cryptocurrency and a wallet, it is also a programming language running on its own blockchain. Where companies are using to build programs.
Due to its robustness and market value, Ethereum is the second largest market capitalization with similar price graph like bitcoin which makes it less resistance to sudden change in crypto trading. The unstableness in relation to market cap, the trend of Ethereum always moves along the previous and the new line irrespective of the change in market price. Which makes it unique and easy to predict.
The trend of Litecoin (LTC) is always quite predictable with a regular continuous uptrend and a clear downward trend which always moves it away from its resistance zone. It has a bullish potential to move with a certain range before it consolidates. Litecoin has an impressive double-bottom nowadays with an acute trend indicating a low or high move which can sometimes be frightful for Litecoin traders.
Ripple (XRP) is one of the predictable coins due to its potentials and clear trading style. Ripple always show signs of a historical trend. That is, it moves in a particular pattern which makes it easy for the crypto enthusiast to trade. Daily ripple chat shows that ripple has been exhibiting patterns which resemble its previous pattern.
It is clearly seen that the coins mention above have both trading range and clear trend at the same time which makes them special and its predictability always moving forward.
Peter Schiff Warns Of A Possible Crash Of Bitcoin Below $2,000
Peter Schiff, a stockbroker, and financial commentator took to Twitter recently to voice his opinion on the direction of BTC. Though he said the crypto asset is on his way to $6K, however, warns that things can go worse, driving price below to $2K.
A Possible Crash Below $2,000 For Bitcoin (BTC)
Peter Schiff, is known for his love for gold while exhibiting intense hate for bitcoin. However, he has kept an eye on bitcoin, updating the community about its impending crashes to prove his point that bitcoin is worthless.
Though he admitted possessing some bitcoin, his recent tweet still shows he doesn’t see the asset as a wise choice for smart investors.
Peter Schiff, in his recent tweet, expressed how horrible things were looking for bitcoin. According to Mr Schiff, bitcoin is in a move to complete a popular pattern, the head-and-shoulder, which will see the asset drop in value to about $6,000. Furthermore, he opines that bitcoin could slump drastically below the $2,000 mark if the pattern is completed.
While many do not agree with Peter Schiff, some others think bitcoin crashing below $2,000 would be an opportunity to buy more bitcoin.
All these, however, is happening at a time when the institutional traders are trying to pick some interest in bitcoin as trading on the futures exchange, Bakkt, continues to rise.
At the time of writing, bitcoin is currently trading at $8,062.72, with a market cap of over $145 billion according to CoinMarketCap.
Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price
Time and again, several members of the XRP community have opined that the massive dump of the crypto asset in the market has impacted on its price, negatively. Now, there are speculations for another dip in XRP’s price. The latter is after Whale Alert informed on September 7, 2019, that 100 million XRP tokens have been transferred to Jed McCaleb, Ripple’s co-founder.
Ripple Sends XRP Worth About $26 Million to McCaleb’s Wallet
According to Whale Alert, Ripple transferred 100 million XRP valued at $26,322,440 to Jed McCaleb’s wallet. The transfer has led to the sentiment in the crypto space that XRP might tank below its $0.262 price today. Also, the opinion is due to McCaleb’s reputation for dumping huge amounts of XRP in the market.
McCaleb is Ripple’s co-founder, and in 2014, Ripple transferred 9 billion XRP to him as his share for founding the company in 2012. However, the blockchain company entered a seven-year agreement with McCaleb to control how much XRP he can sell in the market yearly.
Per the agreement, the co-founder could sell $10,000 worth of XRP per week in the first year, $20,000 per week in the second, third, and fourth years, and “750 million XRP per year for the fifth and sixth years.” In the same vein, he could choose to dump 1 billion XRP yearly for the seventh year, and 2 billion XRP yearly after the seventh year.
McCaleb’s Dump of XRP Impacts of Asset’s Market Price
Given that this is the fifth year since the agreement was made, McCaleb can choose to dump thousands of XRP tokens daily. In 2014 when he announced his plans to sell a significant part of his XRP holdings, the value of the asset declined by 40%. As such, the continuous dump of the asset has also been pointed out as one of the reasons why it is not spiking like other top cryptocurrencies.
Asides from being reputable in the XRP community, McCaleb is also a name associated with Mt Gox, one of the first cryptocurrency exchanges. He founded the platform and sold it off years before its hack. Similarly, McCaleb is the creator of Stellar (XLM), the 11th largest cryptocurrency by market cap.
Nonetheless, the crypto community has aired its views about the potential for McCaleb to release another share of XRP to the market. Crypto BitLord, for instance, said: “Wow. Another cool $26M Jed can unload at market. This shits out of control.” Another remarked that: “know, right?! Private businesses shouldn’t be allowed to exist. The name “Jed” should be banned.”
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