Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano: Cryptocurrency Price Analysis And Prediction

All credits to:  – Original post: https://goo.gl/UkWCDW

 

World leaders held a meeting and a discussion at the world economic forum based in Davos. This was mainly to discuss the cryptocurrencies. Additionally, they are now ready to deliberate the cryptocurrencies in the G20 Summit which will be held in March this year. Numerous leaders have the concern of regulation f cryptocurrencies and want to do it. However, according to the state of the regulations which were carried out in the Chinese market, we find out that they may have been ineffective. It is because they may have affected the entire cryptocurrency market. Additionally, they had an effect on the traders as they were forced to sell their holdings.

Therefore, many cryptocurrency traders from China have started the trade in exchanges which are based in Hong Kong. The China government increased the trader’s risks because they are now forced to buy Bitcoin at $1,200. This is slightly expensive as compared to other exchanges.

Therefore, according to the discussions which were carried out and also the other news about the ban of cryptocurrencies, the central banks and leaders should be involved in embracing cryptocurrencies. Therefore, they should make sure that there are no more bans. This is due to the fact that investment in cryptocurrencies is according to one’s likeness.

BTC/USD

Bitcoin has been defending itself in the $10,000 mark for some days now. According to statistics, they have not been pushing higher than this.

Currently, Bitcoin trades at $11,364. Bitcoin has been between the $10,000 and the $12,000 levels for quite some time, and we expect it to be in this level for some days or even a week now if not subjected to other external forces. It is very hard to make a prediction of whether an upward or a downward trend is expected as per now.

However, Bitcoin might be subjected to improve to the $12,200 levels, at this level; the traders can monitor Bitcoin for 5 days. When it maintains a steady level, they can buy it at that level. This might subject them to some profits it’s expected for it to improve to the $14,500 level

On the other hand, when it breaks down to the $9,900 levels, it might further be subjected to a drop to the $8,000 levels. Therefore, according to the current data, we do not recommend buying of the cryptocurrency.

ETH/USD

According to the previous predictions, we had said that Ethereum might remain in the $1,000 levels. This is the current trend.

Currently, Ethereum is trading at $1,199. Therefore, this is an improvement from the last analysis and predictions. Therefore, Ethereum is still expected to maintain the upward rise with the target of $1,250.

This is due to the fact that it broke the previous predictions and has been on the rise. Therefore, traders can wait for the next analysis, and if it’s consistent, they can trade. However, for now, it is a risky investment.

BCH/USD

Bitcoin cash is a cryptocurrency which has been characterized to be one of the best investments one could ever make. This is according to recent news. Although it has been affected by the various bans and restrictions, there has been no much drop margin.

Currently, it is trading at $1,678. This means that it is about to reach the upside target which was set during our last prediction of $1,700. As this improvement trend continues, the cryptocurrency is likely to cross the $1,700 levels in a few days’ time.

Therefore, we recommend that the traders wait for quite some time for monitoring before they can make investments in this cryptocurrency.

XRP/USD

Ripple has currently been trading at the level of $0.87 and $1.74. Therefore, upon breaking down to the $1.09 levels, a further fall is expected.

According to the current situation, the ripple has had a hard time finding buyers. Currently, it trades at $1.34. Traders should wait for it to settle and remain above the $0.87 levels for quite some time before involving themselves in the trade. Therefore, it means that the current range might continue for quite some time.

IOTA/USD

For the last few days, IOTA has been subjected to a fall in prices. However, it might have picked on an upward trend recently even though it remains in the same price range.

Currently, it trades at $2.47, and this is an improvement according to the last analysis. According to the last time’s prediction, IOTA might reach the $3.032 levels on the upward trend. Additionally, it might also reach the $1.1 levels if the fall continues.

As of today’s analysis, IOTA might be subjected to a rise in the coming few days. However, this might prove to be difficult.  Traders can monitor the cryptocurrency for a few days before investing.

LTC/USD

In the last 3 days, Litecoin had broken down to the $175 support levels. However, it has since recovered and now trades at $182.

However, the bulls are not in the position to push the prices high. If this does not happen, the bears might push it below the $150 level. However, upon pushing by the bulls, it can attain $190 level but face resistance of $200.

Therefore, traders can invest only if the cryptocurrency breaks the $225 level and is steady in the level.

XEM/USD

3 days ago, NEM had broken down to the $0.86 levels, and on Jan 26, it fell to the $0.775 level.

However, the cryptocurrency has successfully improved and now trades at $0.95. Therefore, NEM is expected to attain the $1 level soon. However, this is the current resistance level. Upon successful improvement to that level means that investors can consider investing in the cryptocurrency.

ADA/BTC

Cardano has been in the 0.00006 levels for quite some time now. Therefore, that’s why investors have not been involved in buying the cryptocurrency.

However, there is a likelihood that the cryptocurrency might fall below the 0.00005 levels. However, it might face a resistance level of 0.000047. However, investors are advised to wait for some time before considering the buying of the cryptocurrency.

 

 




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