Bitcoin discovered a ladder for growth

March 20, 2019   Bitcoin

The positive trend of cryptocurrency assets continued on Tuesday. Bitcoin strengthened to the level of 4065 dollars, Ethereum again remained unchanged near the resistance of 140 dollars, and XRP reached the level of 0.3185.

Along with the growth of cryptocurrency capitalization, the market participants' belief that after 85% market correction from a historic high and a subsequent lull this fall phase is over has become stronger. The current dynamics is reminiscent of a cautious move up the steps in contrast to the roller coaster that the cryptomarket has seen in 2017-2018.

It is also worth mentioning that cryptocurrencies have not disappeared, and the demand for them is coming back gradually. Nevertheless virtual currencies are obviously attracting consumer demand, it is not sufficient at the moment to sustainably overcome new levels of resistance. Nobody should forget that investors will be deterred by a collapse of the last year for a long time.

Yesterday at Binance Launchpad, a new tokensale took place with the placement of the cryptocurrency of the Celar Network project. The price of the token was set at 0.0067 dollars, but the project accepted only Binance Coin. At the same time, the maximum amount of individual investments should not exceed $ 1,500. During tokenseyl again experienced problems with the carrying capacity of the platform.

The collection of funds for financing various projects through ICO in 2019 is rapidly declining. Sales of tokens declined by almost 90% compared with last year's data. From January 1, 2019, $ 575 million was raised through ICO, compared with 4.75 billion in the first quarter of 2018. In addition to reducing the amount of funds raised, the number of projects has decreased. In 2019, 238 ICO were registered, less than in December 2018. At the same time, a sharp decline in performance can hardly be considered a sign of a crisis in the cryptocurrency market. The reason for the decline was the increase in investor selectivity, screening of weak and fraudulent projects and a shift in focus from the ICO towards classical fundraising through the placement of shares.

IBM announced a partnership with 6 international banks, and they will use the blockchain network based on Stellar. Stellar Blockchain will allow these banks to transfer funds abroad cheaper and faster than traditional payment systems using steylcocoins. IBM also stated that they had offered new partners to use XLM as a bridge if it would be difficult to exchange one Fiat-secured steablecoin for another.

In our forecast for today, we assume that Bitcoin will continue to grow to the levels of 4085, 4100 and 4130 dollars, strengthen Ethereum to 142, 144 and 147 dollars, and increase the price of XRP to resistance levels of 0.3200, 0.3230 and 0.3250


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