Cryptocurrency Forecast The Bulls Are Back But Can It Last

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Cryptocurrency Forecast: The Bulls Are Back But Can It Last?

A Broad Rebound In Cryptocurrency Is Underway

A broad rebound in the cryptocurrency market is underway. Over the weekend the price of major coins like Bitcoin, Ethereum and Litecoin rose to multi-week highs and fired bullish signals. The move may have been sparked by a rush to safe-haven assets linked to last week’s killing of Iranian General Soleimani. Soleimani, leader of Iraq’s international brigades of militant militia, was killed while in Iraq sparking a global outcry and the possibility of widespread conflict within the region. While this situation has little bearing on cryptocurrency in the broad sense it may keep these coins moving higher in the near term. Longer term, the Bitcoin halvening is still coming up and will undoubtedly keep the world’s reserve cryptocurrency edging higher.

Bitcoin, The Forecast For The Week

Bitcoin prices have risen more than 5% over the past four trading days. More importantly, the price action has regained the upper side of the short-term 30-day EMA and confirm a triple-bottom that has been in play for the past month. The triple bottom is not a pattern I put a lot of faith in, it’s relatively new to the technical analysis lexicon, but the break above the moving average is significant. In light of the 2020 down trend in BTC prices such a move may only be setting up the next selling opportunity, the caveat is that until the sell-signal materializes outlook for prices is bullish.

There is resistance just above today’s trading level, near the $7,600 line, but it is likely to be broken and soon. The indicators are both bullish, stochastic and MACD, and that suggests underlying strength with the market if not a guarantee of rising prices. The stochastic is well below the upper signal line showing conditions neither overbought nor oversold so there is room for price action to run. A move above $7,600 (with a close) would be bullish and the signal to buy. At that point, the next target for resistance is the $8,000 level and then $9,000.

Ethereum, It Looks Bullish Too

Ethereum is also looking bullish on Monday morning. Ethereum has been one of the hardest hit crypto’s this year, largely due to the lack of progress with updating the system, which makes it a prime target for major rebound. Today’s action set a three week high, broke above the 30-day EMA, broke above a key resistance target, and is supported by the indicators so upward price movement is more likely than not. The indicators are especially telling, stochastic and MACD are providing a strong buy-signal, and compounded by convergence in the MACD. Convergence in the MACD is one of the strongest signals I know, it shows a strength of conviction within the market that puts the bulls firmly in control. The risk is that resistance at the $140 level may hold prices back, once that is broken (when it is broken) I will be a buyer of this coin.

Litecoin, Almost Time To Buy

Litecoin is in similar position to BTC and ETH. The world’s first lightweight version of Bitcoin is sitting at a multi-week high following the break of its moving average. The indicators are bullish, pointing higher, and showing convergence with price action. The coin is still facing some resistance at the $45 level but, once that is broken, a move up to the $50 and $60 level is very likely.

The Cryptocurrency Market Is In Distress, The Time To Buy Is Now

A Buying Opportunity Of Historic Proportions

Just when you though cryptocurrencies couldn’t move any lower they do, but for no apparent reason. Bitcoin, Ethereum, Litecoin and the other top ten currencies have all shed nearly 10% in the hours leading up to this post and look like they could keep moving lower. The reason is simple, the public has not come back to the market and may not without some positive catalyst to drive them. The good news is that there are multiple catalysts on the horizon that will help public awareness, perception and availability.

The biggest problem weighing on the minds of traders and the public alike is storage, and hacking. Yet another major exchange has been hacked to the tune of millions and there is no end to the wave of crime in sight. This poses a major problem as it makes owning the coins very risky without even considering the fact they are an emergent technology. If you can’t hold them safely then why hold them all is the general thought. The answer of course is to hold your tokens safely in your desktop based wallet, not in your trading account, and use CFDs to speculate the market.

What this means for buyers, owners and holders of cryptocurrencies is that an historical opportunity is developing. Cryptocurrency prices have entered a zone that many technicians, myself included, never thought they would again. Litecoin is in the lead on the march lower, having broken through a major support level and confirming a bearish triangle. This move is indicative of lower prices and could take LTC/USD down to retest the $50 level it was trading at before the 2020 run-up in price, a potential drop of 45% from current prices.

Ethereum is doing better, having found support well above its long term low. This token is now confirming support at that level and establishing its dominance as a market leader. While LTC is expected to recover as the network expands, ETH is expected to shoot higher later in the year as a trio of major upgrades help it reach scale and improve transaction speed. A move below $475 would be bearish but only in the near term. Longer term ETH is likely to move up and retest its highs.

Aside from technical catalysts, upgrades to the system, both ETH and LTC face regulatory catalysts as well. A recent statement from the SEC, coupled with activity in England, has paved the way for Ethereum and Litecoin based futures products to be listed on US exchanges. Listing on US exchanges means access to institutional traders and enhanced liquidity for the entire cryptocurrency market.

We’re slowly moving towards a utopian society where the economy is totally decentralized, and people use cryptocurrency instead of fiat currency.

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Whether you like it or not, the crypto community continues making waves and gathering enthusiasts all over the world. Virtual money is only rising in popularity, while the value of coins is highly unstable.

Definitely, buying some crypto won’t hurt if you have some bucks to spare. But what are the best coins to invest in? Today we will muse about the future of the most well-known coins and their value.

Predicting the long-term outcome is easier than the short-term Naval Ravikant (Zcash Foundation)

In fact, short-term predictions appear to be more challenging because, in short terms, we have to consider temporary risks, such as geopolitical events, technological advancements, and failures, etc. In the long term, these factors may not necessarily matter.

What the coin price depends on?

Before we start observing the best coins to buy, let’s find out what the cost may depend on. The following factors have the potential to change cryptocurrency price:

Software upgrade. When the quality of the network improves (transaction time, block generation, defense against hackers), cryptocurrency prices soar. As a professional trader, you should keep an eye out on upgrades and their implications.

The hype around the coin. Probably, this is one of the most important factors. Indeed, public opinion can either put a cryptocurrency on a pedestal or destroy it. The traders that rely on hype should finish trading before it subsides.

Reliability of the wallet. Since all cryptocurrencies are digital, the absence of a good wallet can repel future investors and affect the currency price.

Governmental regulations. As soon as some countries ban cryptocurrency trading and mining, the interest in coins is killed, which affects its value and price immediately and seriously. The SEC and Venezuela are good examples of that.

Platform Applications. Some crypto networks host additional apps that might have their own tokens. If such an app does well, it may have a positive impact not only on the native token but the underlying platform, too.

Now it’s time to imagine what the cryptocurrency market cap 2020 will be like, and which coins are worth considering. Let’s review the top 10 coins.

Bitcoin

Most cryptocurrency specialists are sure that Bitcoin will still rein the market of top crypto coins in 2020. Its value will be sustained thanks to:

fast adoption rate,

potential global financial crisis.

A lot of institutions buy BTC hoping to make an investment that can pay off in the future– this is a piece of the pie which everyone should have. It goes without mentioning Lightning Network which will add incredible value to the Bitcoin ecosystem.

As for Bitcoin price, it’s expected to grow by 200 percent over two years, which means it can be around $13,000-14,000 by September 2020. Some Internet users are sure it will grow to $27,526.10.

Ethereum

Ethereum is in a controversial position: specialists’ opinion gravitates towards pessimistic predictions. Although now Ethereum is still one of the major dApp development platforms, things can change if this networks won’t be capable of handling the transaction load. Blockchain 3.0 and 4.0 projects are snapping at Ethereum heels and developers need to improve scalability or jump to EOS to ensure optimal performance.

It’s hard to calculate the future coins’ price when the total supply is unknown. According to Vitalik Buterin, there will be about

100 mln ETH circulating in 2020, and the Ethereum market share will be about 1,137,500, 000,000

$1,137,500,000,000 : 100,000,000 = $11,375 per coin,

+4,000 percent from today.

Ripple

It’s not a secret that XRP can become the king of banking infrastructure, so Ripple forecast 2020 is quite optimistic. The rumor is that Ripple has established a partnership with Western Union and even want to replace the SWIFT network. Today, Western Union and Moneygram are already considering using XRP

As for the price, Ripple predictions 2020 differ. According to WalletInvestor, its price may rise by 380 percent and reach $0.6-0.7 in a couple of years. The team from longforecast.com mentions the maximum price of $0.42. XRP price prediction 2020 from cryptoground.com is $1.20, which makes it perfect for long-term investment.

If you are hesitant and are still wondering which coin to invest in, EOS will be a sure-fire way to raise money in the not-so-far future. EOS.io is expected to become the number one system for enterprise applications. If we ever witness shifting of Twitter, Uber and Facebook to decentralized platforms, they’ll certainly be built on EOS. It’s highly scalable, and most Ethereum projects can be shifted to the EOS network, which makes it a potential killer of ETH.

2020 can become the golden age for EOS: it may reach $95 in the middle of the year and drop down to $55 by December 2020. Other forecasts mention such numbers as $60 (Facebook) and $23 (Google).

Stellar Lumens

XLR is the main contender of XRM (it has 5x market share of XLM), and while Ripple will dominate in the big bank sphere, Stellar Lumens may get the rest of the market. These areas include:

decentralized exchanges, such as SDEX,

ICOs on Stellar,

implementation of the Lightning Network,

cross-border payments in small banks.

Stellar Lumens price prediction 2020 is around $0.64-$0.7. However, some websites give way for more optimistic forecasts.

Thanks to the revolutionary technologies underlying NEO, it’ll continue to grow with record-breaking volumes. The NEO ecosystem has the potential to become a major public infrastructure, and the Chinese government is interested in it. If “CrypoYuan” is created, it will only put NEO significantly above all competitors.

NEO is one of worthiest coins to invest in due to optimistic forecasts: thanks to investment from the Chinese government and other enterprises, its price can grow to $200 and $300 per token. According to cryptoground.com, future NEO value will be $88 in 2020, while Google mentions the price of $77.

Cardano

The launching of Goguen Project and KEVM testnet can trigger the growth of Cardano. When Goguen Project is completed, we may witness Cardano price soaring. What also contributes to its growth is implementation in the Eastern Pacific, especially Japan. According to previsionibitcoin.it, Cardano price in 2020 can rise from $0.29 to $0.5.

More detailed Cardano prognosis is here.

Litecoin

One of the major crypto coins to invest in, Litecoin will continue conquering the market thanks to its technological superiority over Bitcoin. We know that Bitcoin cannot serve as a global payment network, while Litecoin platform is ready to share this network load. Thanks to the Lightning Network, LTC will be interchangeable with Bitcoin.

According to realistic predictions, Litecoin price can double in 2020 and reach $80. Some Internet users are sure that it will rise by 440 percent and reach

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