Digital currencies hit higher trade rates in New York this Friday in a bid to cast aside losses incurred earlier this week. Bitcoin/USD the number one cryptocurrency out there went up by 2.14% trading above the 9000 USD level going on to find support between 8500 USD and 9000 USD. Since Tuesday the cost of Bitcoin was precisely 9,210.50 USD, which is a 1.1% increase in trades. How does Ether fair? Can it rally in 2018?
According to financial consulting company, DeVere Group, the price of Ether (the second most significant cryptocurrency on the market) was up by 2.83% this week. The digital currency could be in to record a fruitful 2018. The firm has also gone on to predict that the price of Ether/USD could rise fourfold. Via an email to MarketWatch, DeVere Group’s CEO and Founder, Nigel Green said:
“The price of Ether is predicted to increase this year significantly. It could hit the 2,500 USD mark by year-end with a further increase predicted in 2019 and 2020.”
Ether Goes Up By 4.1% Trading at 674.31 USD
“This upward run will be pushed by three key drivers. One; more platforms are starting to use Ether for trading. The rise in the use of smart contracts by Ether is also a crucial contributing factor. Finally, a decentralised cloud computing solution is also a key driver in this upswing.” Green Continued.
Green said cryptocurrency regulation is inevitable and will result in improved investor protection as well as long-term crypto market confidence.
Bitcoin Cash/USD, came up by 1.79% and added 1.9% to 1,388.50 USD. But Litecoin/USD, at 1.30% was unchanged at 150.89 USD. Ripple/USD, reached 1.57% and traded at 85 cents, which is a 1% increase.
Bitcoin finished the week in excellent stance proving once again that it is the leading cryptocurrency in the market.