Ethereum Price Weekly Forecast: ETH Sighting Fresh Increase

ETH price surged higher above the $200 and $210 resistance levels against the US Dollar.
The price is currently correcting lower after posting a new monthly high near $225.
There was a break below a major bullish trend line with support near $216 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair is currently declining, but it is likely to find strong bids near $202 and $200.

Ethereum price is correcting gains from $225 against the US Dollar, while bitcoin is declining. ETH might revisit the $200 support area before it could start a fresh increase.
Ethereum Price Weekly Analysis
This past week, there was a solid upward move in ETH above the $185 and $200 resistance levels against the US Dollar. Moreover, there was a close above the $200 level and the 100 simple moving average (4-hours). It opened the doors for more gains and Ether climbed above the $210 and $215 resistance levels. Finally, there was a new monthly high was formed near $225 before the price started a downside correction.
On the other hand, bitcoin price struggled to break the $10,400 resistance area and it is currently under pressure. Ethereum is also declining and it recently broke the $215 support area. Additionally, there was a break below the 50% Fib retracement level of the last major upward move from the $202 low to $225 high. More importantly, there was a break below a major bullish trend line with support near $216 on the 4-hours chart of ETH/USD.
The pair is now trading well below the $210 level. An immediate support is near the $208 level. It coincides with the 76.4% Fib retracement level of the last major upward move from the $202 low to $225 high. However, the main support on the downside for Ethereum is near the $202 and $200 levels. If there is a downside break below the $202 level, the price could continue to decline towards the $185 support.
On the upside, an immediate resistance is near the $215 level. If there is an upside break above the $215 level, the price could revisit the $225 high. Any further gains might push the price towards the $240 level.

The above chart indicates that Ethereum price is currently correcting gains from the $225 high. However it is likely to find strong bids near $202 and $200. Once the current correction is complete near $200, the price could bounce back.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is slowly gaining momentum in the bearish zone.
4 hours RSI – The RSI for ETH/USD is currently declining and is below the 50 level.
Major Support Level – $202
Major Resistance Level – $215
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ETH Prices Up by 5.7%, Is Ethereum Headed Towards A Bull Run?

Ether prices are up by 5.70% in the last 24 hours.
Source-CoinMarketCap
A Look At Weekly Charts 
The week marked alts turning green and a massive rally was seen for ETH and XRP. ETH is trading at $218, at press time. Considering the price movement, a breakout can possibly lead to a bull run. 
The closest support level lies at $180. Unless a massive sell-off happens, these levels are unlikely to be tested. During the latest price rally ETH prices bounced off resistance levels placed at $217. 
 
Source – CoinMarketCap
Furthermore, in the short term, the level of $233 holds significance. Interestingly, in two months ETH price has not crossed this margin. Thus, a movement over $220, can lead the prices to cross $233. 
Reasons Behind The Price Rally 
Yesterday, Ethereum, in an interesting instance, flipped Bitcoin in daily fees. ETH’s price peaked out at $215. 
Source-Twitter
A major catalyst for the surge in ETH price is its steep decline in mid-2019. ETH recorded a 93% drop from its highest price which gave rise to oversold conditions. Thus, when the price recovered above $190, it acted as a resistance level and led to ETH establishing a monthly high. 
Further, lead analyst, Crypto Welson has predicted a massive bull run for Ethereum.
Source –Twitter
He then gave an interesting comparison of price trends seen in 2017- 2019. Further, he said that if the fractal comes into play with a larger force, then ETH could be at the start of one of the biggest runs yet!
Source- Twitter
Ethereum’s Co-Founder Joseph Lubin also took to Twitter and gave an insight on statistics related to Ethereum’s network.
Source- Twitter
Sound Network Strength and Hash Rate
Ethereum hash rate has also made significant gains and presently sits at  200 TH/s – highest it has been in 2019. While the transactions are much below the 2018 peak, the network still looks progressive. It is likely that the metrics will note positive changes when ETH 2.0 and the new consensus model is rolled out in 2020. 
Will Ethereum manage to hold to its massive bull rally? Is flippening possible? Let us know, what you think? 
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Source: CoinGape

Ethereum by Numbers Looking More Bullish Than Ever

There is no doubting that Ethereum has been the shining star this week. There is a glimmer of hope that it may finally be decoupling from its big brother and starting to move independently as it should. New research indicates that the Ethereum ecosystem is strengthening in more ways than one.
Ethereum: Greater Than The Sum …
The latest report from blockchain industry leaders ConsenSys has broken down the current state of the Ethereum network to provide more insight on its status. There has been no end of ETH bashing this year, from Bitcoin maximalists to leaders of rival platforms, all have taken a swipe at the world’s second largest crypto asset.
Most of this angst revolves around its stagnant market action in terms of price, and delays in rolling out updates to improve scalability. The price argument is really unjustified as all altcoins have been on the floor and there has been only one dominant digital asset this year.
The technical aspect however is currently being addressed and just like Rome, Ethereum cannot be built in a day. The report has highlighted some of the key numbers for the Ethereum ecosystem and includes live mainnet nodes which is currently over 8,930, unique addresses which tops 75 million, and average hash rate which is over 100 TH/s.

#Ethereum by the numbers.
75M+ Addresses.2,597 Ethereum dApps. $2M+ Gross marketplace value for @gitcoin.6821 Total $ETH locked in @MolochDAO.$1.5M+ Total $ETH locked in @MakerDAO smart contracts.$20M @bancosantander bond settled @ethereum. https://t.co/WwM4H1HYmQ
— Joseph Lubin (@ethereumJoseph) September 19, 2019

Total decentralized applications now number 2,600 with almost 17,000 daily users. As of June this year there were 1243 monthly active Ethereum developers which is way more than any rival platform can boast. The developer growth rate is 34% according to the report which is a good sign for the future of the platform.
The decentralized finance ecosystem is still embryonic but is clearly dominated by Ethereum. Over $1.5 million in ETH is now locked in MakerDAO smart contracts and Compound is rapidly growing as the second most popular DeFi platform for ETH.
Looking at Ethereum 2.0, there has been a successful recent test of network syncing between clients. The latest upgrades in the Serenity rollout are scheduled be deployed in the coming months and early into 2020 according to the roadmap.
Its All In The Numbers
These positive fundamentals for Ethereum may be starting to show in price and market action. Since last weekend ETH has gained over 24 percent in a climb from below $180 up to just over $220 earlier today. Daily volume has cranked from $5.5 billion to $10 billion and almost $4 billion has been added to Ethereum market cap.
These are still baby steps when looking at the bigger market picture for Ethereum, but the big hope now is that it can finally start moving independently of its big brother which is an entirely different digital animal all together.
Image from Shutterstock
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Ethereum (ETH) Price Climbs Again, Bulls Likely Sighting $240

ETH price completed its downside correction near the $202 support area against the US Dollar.
The price bounced back and climbed to a new monthly high above the $220 level.
There is a new major bullish trend line forming with support near $210 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently correcting gains, but it remains supported near the $215 and $210 levels.

Ethereum price is back in a positive zone versus the US Dollar and bitcoin. ETH price is showing positive signs and it might continue to rise above the $225 level.
Ethereum Price Analysis
Yesterday, ETH price corrected lower below the $212 and $210 supports against the US Dollar. Moreover, there was a break below the $205 support area. However, the $202 and $200 levels acted as strong supports. A swing low was formed near $202 and the price started a fresh increase. It surged above the $210 and $215 resistance levels to move back into a positive zone.
More importantly, there was a break above a connecting bearish trend line with resistance near $208 on the hourly chart of the ETH/USD pair. It opened the doors for more gains above the $220 level. Finally, the price traded to a new monthly high at $225. Recently, Ethereum started a downside correction and traded below the $220 level. It even broke the 23.6% Fib retracement level of the recent wave from the $202 low to $225 high.
However, there are many supports on the downside near the $215 and $212 levels. Additionally, the 50% Fib retracement level of the recent wave from the $202 low to $225 high is also near the $213 level. There is also a new major bullish trend line forming with support near $210 on the same chart. More importantly, the 100 hourly simple moving average is also close to the trend line and $208.
Therefore, dips towards the $212 and $210 levels could find a strong buying interest in the near term. On the upside, an immediate resistance is near the $225 level. If there is an upside break above $225, the price could rally further towards the $240 resistance area.

Looking at the chart, Ethereum price is back in a positive zone above the $210 and $212 levels. As long as there is no close below the $210 support and the 100 hourly SMA, there are chances of another increase towards the $240 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move into the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently correcting lower towards the 50 level.
Major Support Level – $210
Major Resistance Level – $225
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Ethereum Uptrend Remains Strong as Bitcoin Falters

Ethereum (ETH) has been incurring significant upwards momentum over the past several days and weeks and has been able to sustain its upwards momentum despite the drop in the aggregated crypto markets that occurred over the past 24-hours.
This upwards momentum has allowed the cryptocurrency to surge to fresh monthly highs, and analysts are now noting that ETH may be able to drag the entire crypto markets up during the next coming days and weeks.
Ethereum Surges Past $220 as Bulls Roar
At the time of writing, Ethereum is trading up over 4% at its current price of $222.87, which marks a significant surge from its recent lows of $175 that were set last week.
This upwards momentum has proven to be very positive for the aggregated crypto market and has come as most other major altcoins are surging higher.
As for what could be driving this upwards surge, multiple analysts have pointed to improving fundamentals as one potential catalyst for an ETH bull run, while others have also noted that multiple metrics may be pointing to the possibility that ETH is currently being accumulated by investors.
Sentiment, a crypto market insights provider, spoke about this in a recent tweet, pointing to declining ETH token circulation and a declining “active coin” number as signs that Ethereum is currently being accumulated.
“There’s also a number of metrics suggesting accumulation: 1. Token Circulation (# of unique ETH being used each day) continues to decline over the past 5 months… 2. Ethereum’s maximal mean age (avg. age that each coin has remained in its current address) continues to rise… 3. # of active coins over a period of 90 days has begun to decline as of recently,” they explained in the thread seen below.

3. # of active coins over a period of 90 days has begun to decline as of recently:
Source: https://t.co/rGvvCISdBM pic.twitter.com/YINCPRAAHC
— Santiment (@santimentfeed) September 18, 2019

Will ETH Extend Its Upwards Momentum?
Because Bitcoin is currently trading sideways in the lower-$10,000 region, it is highly likely that any upwards BTC movement could further perpetuate ETH’s momentum and send it surging even higher.
Big Cheds, a popular crypto analyst on Twitter, spoke about Ethereum in a recent tweet, explaining that its latest upwards movement marks a notable breakout over its upper Bollinger Band, which may mean that further gains are imminent.
“$ETH #Ethereum – 4 hour – Big breakout,” he explained.

$ETH #Ethereum – 4 hour – Big breakout https://t.co/ddceux2Siz pic.twitter.com/3LBl2s1cKz
— Big Cheds (@BigCheds) September 19, 2019

The coming hours may prove to be quite illuminating for ETH’s near-term price action, as Bitcoin’s price action may ultimately bolster ETH’s current surge and could allow it to post significantly higher gains.
Featured image from Shutterstock.
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Ethereum 2.0’s first phase is estimated to roll out in early 2020

One of the largest smart contract platforms, Ethereum is currently on its way for a network-wide upgrade, Istanbul, scheduled to go live in the next coming months. Meanwhile, Ethereum has also been in the spotlight because of its shift to the next phase, Serenity aka Ethereum 2.0. This phase will see Etheruem upgrading from Proof-of-Work […]
The post Ethereum 2.0’s first phase is estimated to roll out in early 2020 appeared first on AMBCrypto.
Source: AMB Crypto

Can Coinbase Capitalize On Binance Becoming Less Attractive To US Crypto Investors?

San Francisco-based crypto exchange Coinbase has revealed that it is evaluating potentially launching its own initial exchange offering or security token offering, akin to the Binance Launchpad program.
Is this Coinbase following the emerging trends within the greater crypto market, or is this just the company hoping to capitalize on Binance losing its stronghold over US-based crypto investors and out-offer the competitor in its homeland?
Crypto Exchange Coinbase is Exploring IEO and STO Platforms
If 2017 was the year of the ICO boom, 2019 was the year of the IEO explosion. During the first half of the year, Binance debuted its Binance Launchpad platform designed to launch new and exciting crypto tokens with the backing and support of the exchange itself.
Related Reading | Binance Alternatives for US-Based Altcoin Investors and Crypto Traders
It sparked an entire trend of IEO tokens and platforms at other exchanges such as Bitfinex, and crypto investors flocked to the new tokens in droves. Most of the IEO tokens were among the hottest traded altcoins across the market after they were first released, however, as soon as Binance revealed that it would be blocking US-based investors from its flagship website, the IEO craze turned south along with the rest of the altcoin market. But it is still showing signs of interest from early-bird investors looking to strike it rich.
Also proving that the IEO trend is still showing strong demand, is the fact that Coinbase has revealed that they are now considering launching an IEO or even an STO platform of their own to launch new crypto tokens to the masses.

“We think there’s a really interesting opportunity there for Coinbase. Coinbase is carefully exploring not only the IEO space but also STOs, but I can’t make any formal announcements right now,” explained the company’s head of institutional sales in Asia, Kayvon Pirestani.

Going For the Knockout with Binance on the Ropes in the US
But is Coinbase – normally a trendsetter and not a follower – actually following an emerging trend, or are they trying to capitalize on the rocky relationship Binance currently has with US-based investors?
During 2017, Coinbase enjoyed a large portion of the crypto market share. But after Binance exploded onto the scene instantly becoming the market leader, Coinbase has had strong competition ever since. Competition that it now could have multiple advantages over, at least in the United States where the largest portion of crypto investors reside.
Coinbase is also said to be considering launching margin trading, yet another feature that Binance was first to the punch with. However, Coinbase’s best “one-up” it has over Binance currently is the crypto exchange’s larger altcoin offering.

Fewer coins than Coinbase No small-cap alts All pairs are against USD or USDT No margin trading
It's official! Binance US is trash pic.twitter.com/Db1VpB67wd
— Satoshi Kovacs (@SatoshiKovacs) September 19, 2019

While it may be difficult to imagine a day where Coinbase offers more altcoins than an exchange bearing the Binance name, but the US version of the crypto market poster child offers only seven assets, with only some of them being classified as altcoins alongside Bitcoin and the stablecoin Tether.
Coinbase, on the other hand, has amassed a list of over 20 altcoins and is ahead of the game when it comes to being on important US financial market regulators good side.
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Crypto Adoption: Arab Bank (Switzerland) to Enable Investors to Invest in BTC & ETH

According to a recent official announcement by Arab Bank (Switzerland), the bank plans to expose its customers to cryptocurrencies, starting with Bitcoin and Ethereum. As per their announcement, the Arab Bank (Switzerland) takes this decision in recognition of the fact that the natural home for investors to securely trade and custody digital assets is with banks.
Arab Bank (Switzerland) Exposes Customers To Digital Assets
As a service to be rendered to its customers, Arab Bank (Switzerland) plans to introduce trading and also custody of cryptocurrencies for its customers. The bank offers institutional-level digital assets custody and trading services to both high-net-worth customers and institutional clients. Their customers will now benefit from the security and the safety offered by a well-capitalized and regulated Swiss bank which has more than 50 years of history.
According to Arab Bank, crypto-assets have started to make waves across the globe driven by the emergence of secure, banking-level infrastructure and a purposeful regulatory system.
As from September 2019, Arab Bank Switzerland will offer its clients the advantage of gaining direct exposure to the fast-growing cryptocurrency industry, starting with top crypto-assets Bitcoin and Ethereum.
“Starting from September 2019, Arab Bank offers secure custody, transfer, and trading of Bitcoin, Ethereum and will soon be followed by Ripple.”
Available Services: Trading, Custody, And Transfer
The bank will offer trading, custody and transfer services. With custody services that have been built using advanced technologies and are compliant with Swiss bank regulations, customers will be able to invest in digital assets securely. Upon opening an account, customers will be able to transfer digital assets to their bank’s crypto wallets in a way similar to sending funds to an exchange. Also, clients will be able to buy and sell digital assets with the assistance of a dedicated relationship manager.
“They can buy digital assets to gain exposure to the emerging asset class and diversify their portfolio. They can also sell them to realize their capital gains or generate liquidity.”
Arab Bank Switzerland is a sister bank of Arab Bank Plc. It is independent and draws upon various networks of branches across the Arab region.
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Source: CoinGape

Ethereum Price Surges 6% to Top $210: FOMO in Full Swing

Ethereum bulls are back in full swing. As of the time of writing this, ETH’s price has just topped $210, pushing up by some 6% over the past 24 hours.
Related Reading: Low Volatility Bitcoin Price Action: Decision Time Is Near, Powerful Move Incoming
This strong move higher marks the end of a massive downtrend for Ethereum, in terms of its USD and Bitcoin pair. And analysts say this upward price action may not end any time soon.

Ethereum Price Surges Amid Fundamental Boom
For the first time in a blue moon, Ethereum is showing some brawn.
Over most of 2018, the cryptocurrency had a horrible showing, collapsing from an all-time high of $1,400 to double digits, representing a nearly 95% drawdown. Simultaneously, the ETH/BTC pair tumbled to pre-ICO bubble levels, hinting that there was little fundamental demand for the project.
But, over the past few weeks, this has started to change. After bottoming at $170 and around 0.016 BTC, Ethereum has started to rally for both of the pairs.
Traders are saying that this move will likely set the stage for further gains. Rand recently stated that if ETH consolidates above $200, which has acted as an important line of support over the past year, a move to $250-$300 is entirely possible.

$ETH is looking pretty strong here:
If consolidates over $200 we can get $250-$300 easily. pic.twitter.com/xfxaLzhWYK
— Crypto Rand (@crypto_rand) September 16, 2019

This move comes as Ethereum’s fundamentals have turned decidedly bullish.
Last week, Spanish banking giant Santander revealed on Thursday that it had settled a $20 million bond through ERC-20 tokens, which represented custodied cash, on the public iteration of the Ethereum blockchain.
This comes as the DeFi ecosystem has continued to gain steam, with DeFi Pulse stating that there the amount of ETH locked in Ethereum finance applications is reaching an all-time high. Simultaneously, the number of transactions made with Tether’s USDT stablecoin has continued to surge.
Also, BitPay has announced plans to integrate Ethereum into its leading payments processor, while a startup his announced plans to tokenize assets worth $100 million on the blockchain.
All this has amalgamated in dramatically increased usage of the Ethereum blockchain.
Bitcoin Dominance to Fall; Altcoins to Surge
Ethereum’s price action isn’t an isolated trend. Altcoins across the board have all showed strength over recent days, managing to outpace the market leader for the first time in about forever.
Just look to the chart from Coin360 below, which shows that leading altcoins are experiencing daily gains that are reminiscent of 2017’s bull rally.

This may continue, however. Crypto Thies, a prominent analyst, recently noted that his proprietary indicator for Bitcoin’s dominance chart recently printed a sell signal, suggesting a “potential change in trend” from a BTC-centric market to one that is led by crypto assets.
Also, Thies notes that the altcoin market capitalization has seen a higher low, implying bears are losing steam.

$BTC.D – #Bitcoin Market Dominance
– 1W Sell Signal from @MarketGodx, suggesting potential change in trend
– Higher Low on #TOTAL2 (AltCap)
– Rate of Change on $TOTAL now below ROC on #TOTAL2
Translation …
ᴀʟᴛꜱ ᴀʀᴇ ʙᴀᴄᴋ#TisTheSzn pic.twitter.com/wnKrHWXSTW
— 𝗖𝗿𝘆𝗽𝘁𝗼𝗧𝗵𝗶𝗲𝘀 (@KingThies) September 17, 2019

Featured Image from Shutterstock
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Ethereum’s price embraces bullish recovery, but another bearish slump is imminent

Ethereum’s price supported by strong market fundamentals was flying high on the charts, at press time. After rallying past a lackluster period of price activity, the second-largest digital asset was up by almost 6 percent over the last 24 hours. Breaching major resistance at $197.38, the valuation crossed the $200 mark for the first time […]
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Source: AMB Crypto

Ethereum [ETH] Price Crosses $200 With Over 5.5% Hike

Ethereum had been relatively calm for a while now. It was seen trading below the $200 mark for several days even trading as low as $176.50 about a week ago. In the meanwhile, bitcoin too kept perambulating around the $10k USD mark while swinging between $9980 and $10442.
ETH Maintaining A Bullish Rally
ETH has kept a bullish rally for about 48 hours moving towards the $200 mark. At the time of writing this piece, ETH had crossed $200 and is now trading at $201. By crossing the $200-mark, ETH has established a new 7-day ATH. The top altcoin still shows strong bullish movement possibilities as it has maintained this upward movement for more than 2 days now.

Source: CoinMarketCap
Trading at $200.4, ETH remains the second-largest cryptocurrency, only surpassed by bitcoin in terms of market capitalization and adjusted traded volume. Its coin dominance fell drastically towards 6.5% from its initial level at 8% though. At present, ETH has a market capitalization of $21.46 billion and a 24-hour trading volume of $8.33 billion.
Ethereum Within The Last 7 Days
Last Tuesday, on September 10, Ethereum was trading around the $180 mark. On September 11. it touched a low of $176.50, but bounced back again and was trading above $180 again the next day. The resistance at $180 proved a bit difficult to scale through, but ETH surpassed the level and perambulated within the $178 to $182 over the next couple of days. On September 14, ETH became aggressively bullish and closed at $188. It continued its upward movement on September 15, hitting $190 and on September 16, it touched $198 before closing at $197.
Analysts’ Views Of Ethereum Price
Analysts are showing optimism about the price of Ethereum. Quite a few technical and market analysis have been put forward by various traders and analysts to support Ethereum’s bullish case. According to a trader who goes by the name of Escobar, it is indicative of the beginning of the altseason. He tweeted,
$ETH 1D TF- ETH leading Alts to glory in September begins. See you at FourFiddy
Also, Zhoran trader who has set up swing targets at $220 tweeted,
$ETH Update: Swing 1 complete. E2E completed with a kumo breakout. Tagged $200 on the money. Took Profit. Asks set from 200-202 until further notice. #crypto
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Source: CoinGape

Ripple’s XRP Eyes Relief Price Rally; Here’s Why

XRP was rising on Tuesday as investors flew out of the bitcoin market amid growing uncertainties regarding its safe-haven status.
The Ripple blockchain’s native asset climbed 1.73 percent to $0.00455 on BitFinex exchange. That brought its week-to-date gains up by more than 2.5 percent, providing one of the first signs of a relief price rally after months. XRP’s moves appeared the same against bitcoin, wherein the asset surged by as much as 4.49 percent against the benchmark cryptocurrency.
Ripple’s XRP looking to switch interim bias in favor of bulls | Image credits: TradingView.com
The surge occurred as market analysts awaited a plunge in the bitcoin dominance, triggered by fears that the cryptocurrency is not behaving like a safe-haven asset. As covered by NewsBTC earlier, Bitcoin remained cautious as drones attacked two Saudi Arabian crude oil production facilities on Saturday. The attack dwindled the world’s oil supply by 5 percent, sending the global stock market, including the benchmark S&P 500, down. As the equity markets plunged, long-time haven assets such as Gold, Treasuries, and the Japanese Yen surged. But bitcoin didn’t.

Bitcoin dominance is now comparable to where it was before there was even a developed market for altcoins.
Hard to see it getting much stronger from here. pic.twitter.com/pgfNWLQipr
— Mati Greenspan (@MatiGreenspan) September 16, 2019

The mum approach prompted bitcoin traders to hedge into the altcoin market. In the last 48 hours, Ethereum climbed by as much as 6.72 percent against the US dollar – and 7.69 percent against bitcoin. The ETH/BTC instrument, as of now, is registering its four-day winning streak. The sentiment also breathed life into the XRP market, which, as renowned analyst Mohit Sorout noted, was trading in oversold territory for three months straight.
The Bitazu Capital partner said he now expects “a relief rally” in the XRP market.
Intraday Hedging
But XRP’s interim upside action could live short, after all. The Next Web reports that Ripple’s core investor base is not happy with the way the blockchain project is developing. They think the San Francisco company is dumping XRP tokens, which has even led some disappointed ones to start a petition on Change.org, titled “Stop Ripple Dumping.”
“The only logical explanation is that Ripple is dumping on us. And not small amounts either – literally, billions. We have seen the reports of them disclosing this, so it’s a fact,” the petition reads. Over 3,500 signatories have shown support.
The petitioner cites Ripple’s financial reports as evidence. The Q2/2019 report shows that the firm sold $106.87 million and $144.64 million worth of XRP in direct institutional sales and programmatic sales, respectively. Meanwhile, the Q1/2019 data brings a similar picture – Ripple sold $890 million worth of XRP to fund institutions and support exchanges.

It's incredible that there is enough demand that $250M doesn't completely crash the price. But I have long thought that Ripple is misleading XRP holders and most of them don't seem to understand that dumping like this to fund a business is not only unsustainable but ill-advised
— Larry Cermak (@lawmaster) July 25, 2019

Meanwhile, the XRP/BTC instrument plunged by more than 70 percent.
Technical analysts, nevertheless, see XRP breaking out of its downtrend – against both the dollar and bitcoin. However, with Bakkt launching the first physically-settled bitcoin futures contracts next week, altcoins could see speculators driving back to the king cryptocurrency.

Reminder, the hype is bakkt with substance.
Unlike other futures exchanges, this is settled in bitcoin. Actual bitcoin is paid out, not just the fiat equivalent to the price of bitcoin.
The result is better price discovery and liquidity for bitcoin.
— Rhythm (@Rhythmtrader) September 16, 2019

Bitcoin was down 0.65 percent against the dollar at the time of this writing.
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Bitcoin Down as Saudi Attack Raises Fears of Economic Crisis

Bitcoin was trading in negative territory on Tuesday as attacks on Saudi Arabia’s crude oil processing facilities weighed on the global economy.
The benchmark cryptocurrency dwindled by $74.49, or 0.73 percent, to $10,188.05 minutes after the London market open. The move downside extended bitcoin’s week-to-date loss to 2 percent, maintaining the ongoing sideways momentum. Elsewhere in the cryptocurrency market, assets appeared stronger. Ethereum, the second-largest cryptocurrency, registered 2.23 percent session gains. At the same time, fifth-largest cryptocurrency Litecoin also surged by a decent 2.27 percent.
Bitcoin price fails to attract investors amid an ongoing economic turmoil | Image credits: TradingView.com
Haven Assets Up
Like bitcoin, risk-assets took a hit with the US benchmark S&P 500 closing Monday on a 0.3 percent loss. At the same time, the Nasdaq Composite index was also down by 0.3 percent. On Tuesday, the Asian and European market also opened lower, barring Japan’s Topix index, which rose 0.4 percent after a holiday on Monday. Meanwhile, S&P futures were pointing to a further 0.2 percent dip when Wall Street will open on Tuesday.
On the other hand, the underperforming risk assets sent investors to find shelter in safe-haven assets. Unlike bitcoin, Gold, a perceived hedging asset, rose 0.66 percent to trade at $1,498.62 an ounce. Treasuries did well as the yield on the US-10 year bond came down to 1.77 percent. In an exceptional case, another perceived haven asset, the Japanese Yen, dropped slightly by 0.08 percent to ¥108.178 a dollar.

Global stocks edge lower as oil shock leads to risk off mood. Oil pares gain w/ Brent at $68.50. Bonds higher w/ US 10y yields at 1.82% as investors waiting for Fed meeting. Gold <$1.5k, Bitcoin at $10.2k. pic.twitter.com/Cby84ipLHC
— Holger Zschaepitz (@Schuldensuehner) September 17, 2019

Brent crude – the benchmark oil marker – corrected 0.8 percent lower after the London market open. On Monday, it had risen by 20 percent. A lot is now riding on the repairment of Saudi Arabia’s crude oil processing facilities, which controls 5 percent of the global oil supply. With the black gold’s prices up, economists fear it could accelerate the ongoing macroeconomic crisis driven by the US-China trade war and significant economies on the verge of recession.
“While the ultimate impact will depend on a combination of the extent of damage, the US and Saudi response, and whether further attacks occur, the current production decline will exacerbate the tightening in the oil market that was already underway and could add a more lasting geopolitical risk premium to prices,” Greg Sharenow, a portfolio manager at Pimco, told FT.

The drone strikes on Saudi Arabian oil facilities couldn't have come at a better time for the world's central bankers who have struggled to solve the problem of consumer prices rising too slowly. If consumers really get lucky $100 oil will raise the price of everything they buy!
— Peter Schiff (@PeterSchiff) September 14, 2019

Bitcoin
The potential downside in the global economy further puts bitcoin through a now-or-never test. Enthusiasts have projected the cryptocurrency as an alternative to gold – a new type of safe-haven asset – that could protect investors against geopolitical and macroeconomic risks.

As a result of the recent drone attacks from Iran on the world’s biggest oil reserve:
The dollar will weakenEuropean markets will take a huge hit compared to the U.S. The Fed is more likely to implement further rate cuts #Bitcoin will help you escape that bullshit!
— Crypto Welson (@CryptoWelson) September 17, 2019

In a report published in August, New York-based asset management firm Grayscale Investments, LLC, said bitcoin acts as a hedge against liquidity crisis. However, the crisis arising currently on a macroeconomic level has done little to shake up the bitcoin price. The cryptocurrency remained unfazed in the near-term while its so-called rival assets Gold and Treasuries are doing better.
The post Bitcoin Down as Saudi Attack Raises Fears of Economic Crisis appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum [ETH] Tests $200 on BitPay Addition – Analysts Extend Bullish Targets

BitPay Adds support for Ethereum
Analysts Suggest Ether [ETH] could lead the alt-season again, as it looks to break above $200.

Ethereum [ETH] gained 1.81% on Monday as the altcoin broke above 0.019 resistance level on Bitcoin [BTC] scale. The price of ETH at 3:30 hours UTC on 17th Sept. 2019 is $196.14.
ETH/USD 4-Hour Chart on Bitstamp (TradingView)
The rise has been supported by both technical and fundamental positive news for the cryptocurrency last day.
BitPay, a blockchain-based payments provider, announced support for Ethereum. Currently, it only facilitates Bitcoin and stablecoin payments only. Stephen Pair, CEO of BitPay told the media,
“As one of the largest crypto currencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.”
BitPay’s existing merchants include Microsoft, Newegg, Dish Networks, FanDuel and Avnet. Vitalik Buterin, the co-founder of Ethereum, said that the move would increase the real-world use-cases of Ethereum. The payments processing is expected to go live by next week.
Bulls Vs. Bear
Crypto traders on twitter are turning favorable to Ethereum and other altcoins. According to Escobar, it is indicative of the beginning of the altseason. He tweeted,
$ETH 1D TF- ETH leading Alts to glory in September begins. See you at FourFiddy
However, Bitcoin coder and maximalist, Udi Wertheimer, believes that it is a fake bounce. He entered into a $1000 bet with another trader, Crypto Loomdart that the price will go below $0.016 BTC in 2019. Udi also reiterated that the margin trading feature on Binance would assist his cause.
Nevertheless, Loomdart is highly confident about his analysis. Ethereum [BTC] broke above his designated buying levels and resistances.
ETH/BTC Buying Level and break-out (Analysis Source: Twitter)
Co-incidentally, Escobar suggested that it is highly unlikely that ETH breaks below $150. It falls in line with the 0.016 BTC approximation at current Bitcoin prices. Escobar’s optimistic targets are near $480.
Furthermore, Zhoran trader who has set up swing targets at $220 tweeted,
$ETH Update: Swing 1 complete. E2E completed with a kumo breakout. Tagged $200 on the money. Took Profit. Asks set from 200-202 until further notice. #crypto
ETH/USD Swing Trade Prediction (Source: Tweet)
According to him, a correction below $190 is viable, but, the trend is positive.
The Ethereum protocol is awaiting its revamp in 2020 with its 2.0 version. The crypto is currently getting 20% of its is transaction volume from Tether and is aiming to grow Dapp adoption. Nevertheless, while Ether is leading in terms of MCap, there is stiff competition in the smart contracts market.
Do you think that Ethereum will be to initiate the alt-season again? Please share your views with us. 
The post Ethereum [ETH] Tests $200 on BitPay Addition – Analysts Extend Bullish Targets appeared first on Coingape.
Source: CoinGape

Ethereum’s Vitalik Buterin: Libra doesn’t have political neutrality in comparison to other crypto projects

In a recent interview with BLOCKTV, Ethereum Co-Founder Vitalik Buterin talked about the future prospect of Facebook’s Libra while also identified concerns regarding Telegram’s impending blockchain. Buterin acknowledged Libra’s newfound presence in the crypto community and admitted that its introduction had “shaken up the space in interesting ways.” The fact that a multi-billion company had […]
The post Ethereum’s Vitalik Buterin: Libra doesn’t have political neutrality in comparison to other crypto projects appeared first on AMBCrypto.
Source: AMB Crypto