Slight decrease at cryptomarket

4 February, 2019

At the end of last week, the first cryptocurrency traded with a slight decrease. Bitcoin fell to a key support of $ 3,500, Ethereum dropped to 110, and the XRP price reached $ 0.3100.

On Friday, Ethereum developers agreed to postpone an update to ProgPow, which would reduce the effectiveness of Bitmain's ASIC miners, which in turn would make graphics processors more competitive. Following the discussion, it was decided to conduct additional audits that would confirm that the integration of ProgPow will lead to an increase in the number of miners and thereby reduce the centralization of hashing power. The developers also decided to get an opinion on this issue from the Ethereum community.

VanEck and SolidX again submitted their request for rule change to the US SEC. If confirmed by the SEC, CBOE will be able to list Bitcoin ETF shares, many supporters of which suppose that the fund is going to help attract new money to the industry by establishing a more liquid market. Last week, the exchange withdrew the application, due to the temporary suspension of the US government. To avoid the potential rejection of the application, the offer was withdrawn. The final decision on the previous application VanEck and SolidX was to be made on February 27. A new proposal to change the rule has not yet been published in the Federal Register, which means that the countdown on the decision for the SEC has not yet begun. After the offering is published, the SEC will have 240 days to approve or deny the application. Final approval of the application can significantly change the mood in the market of cryptocurrency assets.

In our forecast for Monday, we assume a slight recovery of basic cryptocurrency rates. We expect Bitcoin to rise to resistance levels of $ 3520, $ 3,550 and $ 3,575, strengthen Ethereum to levels of $ 112, $ 115 and $ 118, and increase the XRP price to $ 0.3130, 0.3160 ​​and $ 0.3200.

Cryptocurrency: XRP
Cryptomarket entered the correction phase

The main cryptocurrencies went down as part of the correction to a fairly active growth of the previous days, despite a rather positive news fund. For example...

Cryptocurrency trading volume grows

Cryptocurrency assets traded with a slight decrease on Thursday. Bitcoin practically did not change in price and remained near the level of 3950 dollars, Ethereum...

Crypto market on the rise

The crypto market is finally seeing gains, after more than a year of bearish influence which resulted in the longest, most harsh crypto winter in the last decade. While the coins are not out of the woods...

Cryptomarket still goes up

The ascent of the virtual currencies market is continuing, investors in digital assets continue to play a number of positive news significant for the market. Thus, the active growth...


Main cryptoassets continued to grow

The main cryptocurrency assets continued to grow in price on Tuesday, although not as actively as the day before. The rate of Bitcoin reached the level of 3970 dollars, Ethereum traded...

Cryptomarket will continue to grow on positive news

The digital currencies market continues its active growth, which is fueled by a range of news positive for the industry. For instance the Japanese corporation...

Bitcoin peaked from beginning of 2019

On Monday, active growth began in the cryptocurrency market. Bitcoin has reached $ 3,950. The cost of Ethereum rose to $ 147, and the price of XPR rose to 0.3220...

Cryptomarket rising on JP Morgan positive

The main cryptocurrencies are showing quite active growth, continuing to regain a positive from the news that the American investment giant JP Morgan Chase plans...