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Capitalizations Index – B ∞/21M

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Crypto Market Update: Stellar (XLM), Bitcoin $BTC Cash, Tron (TRX), ADA Price Analysis

Crypto market update: stellar (xlm), bitcoin $btc cash, tron (trx), ada price analysis

Crypto Market Update: Stellar (XLM), Bitcoin $BTC Cash, Tron (TRX), ADA Price Analysis

  • The total crypto market cap remained well supported above the $130.00B support.
  • Stellar (XLM) price is trading nicely above the $0.1200 support area.
  • bitcoin cash price is back above $160 and it may continue towards the $165 and $170 levels.
  • Tron (TRX) rallied recently and broke the $0.0250 resistance area.
  • Cardano (ADA) price is up more than 5% and it could break the $0.0500 resistance.

bitcoin cash is slowly moving higher towards $170. BTC, Ethereum, XRP, Stellar (XLM), Tron (TRX) and Cardano (ADA) are also gaining bullish momentum.

bitcoin Cash Price Analysis

Recently, we saw a downside correction below $160 in bitcoin [BTC] cash against the US Dollar. BCH/USD tested the $150 support area and later bounced back. The price is now trading above the $160 support and it may continue to move higher in the near term.

The current price action is positive, but if there is a downside correction, the price may find bids near the $155 and $154 support levels.

Stellar (XLM), Tron (TRX) and ADA Price Analysis

Stellar price traded nicely and settled above the $0.1200 support area. XLM is up around 2.5% today, with an immediate resistance at $0.1250, above which the price may accelerate towards the $0.1300 barrier.

Tron price was one of the best performers recently as it rallied more than 10%. TRX price broke the $0.0250 resistance area, opening the doors for a push towards the $0.0300 hurdle in the coming sessions.

Cardano price is up around 5% and it seems like it is heading towards the $0.0500 resistance. ADA price may accelerate gains towards $0.0520 if there is a clear break of the $0.0500 resistance.

Ada, bch, bitcoin $btc cash, btc, cardano, stellar, tron, trx, xlm

Looking at the total cryptocurrency market cap hourly chart, there is a strong support formed near the $130.00B and $131.00B levels. Recently, there was a downside correction, but the $130.00B level prevented losses. The market cap recovered and it seems like it could move above $135.00B, above which the next stop for buyers could be near the $140.00B level. Therefore, if there are bearish moves in bitcoin [BTC], Ethereum, monero, stellar, litecoin, ripple, icon, BNB and other altcoins in the short term, buyers are likely to protect dips.

Published at Wed, 09 Jan 2019 06:00:54 +0000

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Bitcoin Price Falls $1200 As Bitcoin Cash Steals Fork Limelight

The bitcoin price dropped over $700 Friday as investors show new enthusiasm for rival altcoin bitcoin Cash (BCH).

bitcoin Classic: bitcoin Cash ‘Will Be bitcoin In 6 Months’

In the days since the cancellation of the SegWit2x hard fork, the original bitcoin chain (BTC) price fell to around $6500 from its all-time highs around $7800.

As investors realized they would not be able to profit from ‘free’ SegWit2x balances, attention turned to BCH as developers announced a hard fork of their own.

This bitcoin Cash fork could potentially spark a second chain of the altcoin, giving investors equivalent balances.

Expectations increased over the past 24 hours as bitcoin Classic announced it was shutting down while officially endorsing BCH to become ‘bitcoin’ within just six months.

In a farewell post earlier this week, Classic’s release manager Tom Zander wrote:

It is now up to the next billion people to start to use bitcoin Cash. In at most 6 months, I’m sure we’ll just drop the ‘Cash’ and call it ‘bitcoin’.

Investors Seize The Day To Short Next ‘bitcoin’ Chain

Zander is just one of the well-known bitcoin industry figures coming out in support of BCH both before and after SegWit2x’s ‘death.’

Aside from major proponents Roger Ver and Jihan Wu, SegWit2x supporters are giving the limelight to BCH, focusing consumer attention in the process.

“We shall see,” BitPay co-founder Tony Gallippi wrote in response to a pro-2x tweet by BTCC CEO Bobby Lee.

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As a result of the publicity and support pre-fork, BCH’s fortunes have dramatically turned around this week. Prices are at an all-time high nearing $1000 according to data from Coinmarketcap.

If any increase in purchases appears, this may likely be due to Ver’s bitcoin.com now guiding users to purchase only BCH rather than BTC, the entrepreneur himself announced this week.

With an influx of investment, only steadfast BTC proponents cast an alternative light on the market. bitcoin.org and Bitcointalk co-founder Cobra warned Twitter users BCH was “centrally controlled” and “doesn’t have a good future” regardless of its current support.

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What do you think about bitcoin’s price decline and bitcoin Cash’s growth? Let us know in the comments below!

Images courtesy of iStockPhotos

The post Bitcoin Price Falls $1200 As Bitcoin Cash Steals Fork Limelight appeared first on Bitcoinist.com.

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