There has been a confirmation by the South Korean government that there are no plans meant to ban the trading of cryptocurrencies in short term. Therefore, this has been a relief to the cryptocurrency markets due to the fact that they were under pressure. Additionally, after the Warren Buffets warning that there might be a “bad ending” on the cryptocurrencies brought no effects in its prices.
According to a recent decline, instead of being discouraged to purchase the cryptocurrencies, numerous buyers took the opportunity to open accounts. Due to this, the cryptocurrency exchange Binance improved by around 240,000 new users on January 10 in just one hour. This happened according to these price analysis of the major cryptocurrencies.
Bitcoin was seen to go below the 50 day SMA on 11th January. At this time, it has been struggling to improve. However, as at 15th January, the price has increased steadily and currently stands at a value of $13,754.46. This is a positive index of about $135.43 with today’s statistics. According to the statistics, however, the lowest price today stood at $13,401.24 while the highest stood at $13,818.92.
Therefore, this clearly means that bitcoin is expected to be on the growth for the next 24 hours. However, there is a possibility that it might drop to the $13,000 levels. However, many of the buyers have been on the watch from Jan 13 to monitor the price growth over time. This is considering that on January 12, the prices were forecasted to drop below the $12,500 mark. Therefore, the investors are watching for the next drop and this might see huge investments. It is, however, better to wait for the next drop in the prices for the investment in bitcoin.
Ethereum has been on the rise in the past couple of days. This means that the investors are not in any way ready to sell their investments and holdings. This is due to the fact that they expect a substantive growth in 2018. This is especially in January as over the previous year’s predictions.
According to January 15th data and statistics, Ethereum has been on the drop for the past 12 hours with a value of $32.03. However, this is a very small index as compared to the price increase from 12th January. According to today’s statistics, the highest price for bitcoin was $1,390.59 with the lowest being $1,323.46. Additionally, they have seen a supply of 96,993,187 with only today’s data. However, for the next 24 hours, Ethereum prices are in expectation to rise steadily with a positive price index.
However, when the price breaks the overhead resistance of the $1,382 to $1,434 zone, it will be involved in improvement and this will see it improve to the $1,800 zone considering its high growth since January 8.
On Jan 10, bitcoin cash was involved in a resistance which saw it stand at a price index of $2,950. Since then, it has been involved in a price drop in the last 3 days which has seen its price index drop to about $24,417.81 which represents a -6.23% drop.
Traders are advised to wait for the breakout because bitcoin cash is expected to break down below the $2,072 range and even can decline to around $1,200 over time. Therefore, this might be a risky investment to the investors and should be subjected to some time of waiting for more analysis by various organizations.
From Jan 9 to Jan 12, the ripple has been in the attempt to rise to the $3.0 level. However, this was not the case as on Jan 12, it experienced a drop/descend. Currently Jan 15, the ripple has experienced a drop in its price which is now at $1.8. According to the expected success of the bulls, the price is expected to hit the $2.85 mark in the next few days.
Due to this, we would not recommend any trade of ripple since it is trying to find its way to the top and currently, it is involved in a drop. However, at the lowest levels, investors should be involved in the purchase of the cryptocurrency because it might hit the $2.85 mark soon.
From the recent statistics, the ripple has found its way from $0.222 to around $3.317 and this growth is expected in the future trends.
IOTA has been in the range of $3.032 and $4.34. However, now, it is in the $3.6 mark and is expected to be on the rise to a range of about $4.04. For the past 2 hours, however, it has been on the drop.
Traders are advised to do minimal purchasing at this stage to reap big while it peaks and hits the $4.5 mark as it has been forecasted.
Litecoin has been experiencing a resistance/drop from a price index of $270 to about $225. However, since the start of the resistance, it’s currently trading at $235.85.
Traders are advised to invest due to the fact that Litecoin is expected to hit the $285 mark. However, in the past couple of days, there has been a risk of investment and engaging in Litecoin trade.
According to the recent price analysis and forecast, there has been a decline in XEM. However, the price has seen in the last 24 hours and is expected to rise to the $1.6025 mark. Currently, it is trading at $1.4975 and this is a representation of about 5.7% increase.
Therefore, trading is encouraged but might be a little risky in the future.
Previously, buyers have been expected to refrain from the purchase because the forecast indicated a pullback of the cryptocurrency. However, according to the current forecast, the pullback might be expected to move to around $0.0000821 from the current $0.0000597.
Therefore, now that the forecast is clear, traders can purchase and trade because of the expectation to rise with a positive index in price.