22 Apr 2019 #Bitcoin
Cryptocurrency assets ended last week with multidirectional trading. Bitcoin rose to the rate of 5280 dollars. Bitcoin rose close to $ 5,300, but has returned back, not able to strengthen the offensive on Thursday. Obviously, cryptomarket participants became more prudent, that was why we saw a pullback to $ 5160 on Friday morning. During the rollback, the main cryptocurrency has touched a 200-day moving average, which currently can be considered as an important support level. Such state of indecision in the current range can result in a new correction movement to the limit of $4000. Ethereum reached resistance of 170 dollars, and the price of XRP fell to around 0.3200 dollars.
The largest cryptocurrency exchange Binance launched its own network Binance Chain and on April 23 will exchange Binance Coin tokens of the former standard for the coins of its blockchain. According to the developers, the new network will be able to process up to 2,000 transactions per second with a subsequent increase in throughput. The first project that goes to Binance Chain will be Mithril. After the news about the transfer of a company token to a new blockchain, its price increased by more than 30%.
Against the background of launching its own Binance Chain network, the Binance Coin token rate exceeded $ 25 and set a new absolute record. Since the beginning of the current year, the growth rate of the token was more than 300% and Binance Coin ranks 7th in the overall rating of cryptocurrencies with a total capitalization of 3.5 billion dollars. Binance Coin is considered now by market participants as one of the most promising cryptocurrency. And the launch of new products of the company, such as Binance Chain and Binance Launchpad, will ensure further growth of the token rate.
In our forecast for Monday, we assume a slight increase in Bitcoin to the levels of 5300, 5320 and 5350 dollars. The theory of the influence of halving (reward reduction for miners) has become a trend topic of several previous days. CoinMetrics considered that the last two halving in 2012 and 2016 were accompanied by the significant growth of Bitcoin rate shortly before the event took place and within a year and a half after.
Market watchers have noted the movement of digital assets from unknown wallets to crypto-burg purses, which may indicate a willingness and willingness to sell. Is this so, we can find out very soon. As for altokines, our forecast for the near future: the strengthening of Ethereum to 172, 175 and 177 dollars, and an increase in the price of XRP to the levels of 0.3230, 0.3250 and 0.3275.
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