In today’s cryptocurrency news we will be talking about Ripple XRP and Ethereum ETH. We are still in the Red zone across the board but like always there are some coins who are performing. But before starting our discussion I have some good cryptocurrency news. Crypto Christmas is around the corner and we can expect offers and airdrops from many active ICOs. If you want to get some free crypto coins to make sure you keep an eye on ICO alarms.
The Cryptocurrency News are not in Favor for Most of the Coins and Tokens
Today we’re going over the crypto news and talk about Ripple XRP, Bitcoin BTC, and Ethereum ETH. Everything that is happening right now in the market and all the cryptocurrency news is scaring everyone. Investors and traders are in disbelief with Bitcoin BTC reaching $4,900. The price of Bitcoin BTC is lower than yesterday where we discussed in regards to a potential bull run. If you missed out the analysis, please refer to my other article.
Like always we will go over the last 12 months and try to understand what’s really been happening. Bitcoin BTC hits a new 2018 all-time low and market cap low as 86 billion dollars and a volume of 19 billion dollars.
Bitcoin BTC dominance is still right around the same mark. Cryptocurrencies are really catching up to Bitcoin BTC, taking away 42 to 43% from its dominance.
Cryptocurrency News that are Orbiting Bitcoin BTC, Ethereum ETH, and Ripple XRP
If part of your wealth is stored in Bitcoin BTC as the market is taking a dip you’re probably panicking. However, Bitcoin BTC keeps their dominance at 53% mark which it’s been there for a while. So I wouldn’t say there’s any cause for panic just yet. Every time we do a review regarding crypto I always stress you with fundamental events. The whole market needs very positive cryptocurrency news and currently, that’s not the case.
Let’s rewind all the way back to July when Bitcoin Price was at $2600 and I honestly don’t think it could fall that far. However, looking at the charts we can see that the last line of support would have been at $3500. Could we see Bitcoin BTC drop that much more? I mean a lot of experts say the rock bottom for BTC could be $3300.
What if The Whole Market Will Keep on Dropping?
If that happens the markets will look in a completely different landscape. Because bitcoin at $3300 would be lower than has been in the last 16 months. At a price of $3300, the market cap will be 55 billion dollars and that means we lose another 31 billion dollars. Similarly, altcoins will lose favor and put us under 100 billion dollars’ market cap and that would be scary.
This drop is because of non-exciting cryptocurrency news. If you’re looking to invest now, please DON’T. At least not until we see some kind of upswing momentum from technical reports or cryptocurrency news. It’s better to buy in when we’re starting to grow green again than trying to catch the falling knife. I honestly think a 12% loss in a day for one of the largest cryptocurrencies in the world it’s SCARY. In 50 days we lost $60 Billion in Market Cap.
Even if it Looks Scary for Bitcoin BTC, the Positive Cryptocurrency News are for Ripple XRP.
Ripple hasn’t been losing as much favor and it doesn’t look like any other crypto. This looks like a very stable, growing coin and because of its growth were actually seen it surpassed Ethereum. Ripple has 4 billion dollars on the total market cap over Ethereum.
Ripple is a very interesting crypto and I know all of you guys know all about it. Going back to my fixation on fundamental events where cryptocurrency news obviously counts. It doesn’t really matter how good or bad a project is.
However, if enough positive cryptocurrency news orbits around the coin it will push it on top of others. Nothing new here besides some cryptocurrency news regarding Ripple from CCN. Right now Ripple has about 4 billion dollars over Ethereum in market cap but, Ethereum is doing roughly double the volume. However, this could be a negative volume since the US is on a holiday week.
The Lack of RELEVANT Cryptocurrency News Has Cause 10% Lose Even for Top 10 Coins
It’s going to be really interesting to see what happens as the week progresses and as people stop trading over the weekend. If you look at the charts for every single coin and token the movements are almost identical. Stellar had a good day and so did Ripple, but now XRP is maintaining as every other crypto is losing. Every crypto in the top 10 has lost 10% in value. That’s just crazy Monero down at 20% and Litecoin down 14% really rough times guys.
I mean honestly as a crypto believer I’m a little excited with SIRIN LABS, tanking really hard over the last couple of days. Their smartphone demonstration is happening at the end of this month. I don’t know why is getting hit since we have a positive cryptocurrency news for SIRIN LABS.
SIRIN LABS is the Example of a Losing Coin Even with a Positive Cryptocurrency News and a Working Demo
This might be an opportunity if you get in at 9 cents which have to be one of its near all-time lows. Right now there won’t be too much risk and it still doing a decent volume of 5 million dollars.
We might have momentary stability like we saw in the last 7 days and shortly followed by a crash. I could see another crash happening watching from the sidelines. For now, I’m not pulling my money out. Some of my funds are in Tron and Verge but I’ve been consolidating my portfolio over the past six months. Going into some more stable coins even though nothing looks stable right now and like everyone I crave for positive cryptocurrency news. Getting some in XRP might be a good idea since they’re actually trying to make some serious moves.
XRP and Ripple Corporation Are Benefiting Most from Cryptocurrency News with a Positive Impact in the Crypto Space.
The company that’s working on the project is an interesting one. XRP is in the top 2 right now making it a pretty stable project with 1.5 billion dollars in volume. This might not be a half bad investment if you’re looking to move out of some of your altcoins. XRP a think is going to have a bright 2019 and decent year for Bitcoin.
I do think by the end of Q2 next year Bitcoin will be over $9000.
If you’re looking to move altcoin positions this might be a decent play if you’re looking the wait 7 or 8 months. Investors who’ve been here since January, know I can’t get much worse. Honestly, we could lose another 60 billion with a Bitcoin around $3,000.
The Best Cryptocurrency News are the Ones You Chose to Believe
Hopefully, more will believe in certain projects and create their own cryptocurrency news.
The Armageddon of cryptocurrency it’s at-large where some coins and tokens after this massive drop will never recover.
Coins and tokens will never find volume and exchanges will start cleansing their systems. Projects are kind of what killed crypto a little bit this year. There are too many products and things going with not enough funding or exciting cryptocurrency news. It will take Q3 next year where we can start to see some more prominent cryptos gains.
After this ‘Cleanse” will probably be 25 cryptocurrencies forming the majority of market cap to 80% and then the leftovers forming the 20%.
Like always I wish you all Happy Trading and Every Success!