Bitcoin’s Performance Reflects Positively On The Price of XRP And Ethereum (ETH)

The number one cryptocurrency coin continues to shine as the price of the BTC rises from below the $10,000 mark to well above it. Trading during the last two days saw the coin move above $11,000 and edge closer to the $12,000 mark. This was seen as a positive move as Bitcoin price prediction had seen the value of the BTC cross the $12,000 resistance level.

Bitcoin News Today – Bitcoin Price Rises Carrying XRP and ETH Along – Bitcoin Price Prediction – Bitcoin Prediction 2019

The performance of the Bitcoin has also seen trading in other cryptocurrency coins increase. Ethereum ETH rose to $219from the previous $217 value. It was able to reach $224.19, seeing a jump of about 2% but was unable to maintain the rise and dipped to the present value of $219. This is seen as a significant increase following the harrowing days the cryptocurrency market had in July. Ripple XRP also had the green light shone on it as it moved to a more bullish position.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$9,953.75-2.02%

 

The increase in price for Bitcoin and the alt currencies as reflected in an increase in trade volumes. This is a positive sign for price movements that are short term as traders can quickly consolidate their gains. Cryptocurrency news update learned that the BTC showed the highest increase in price value from the trading of the past two days.

The Bitcoin and the altcoins have entered the month of August on a strong note. The Relative Strength Index of the BTC rose above the 50 levels with Bitcoin price prediction showing a bullish trend. The Bitcoin has also seen an end of the price correction as the MACD moves to the zero mark. This further allows the bullish pressure exerted on the BTC coin to continue and analysts see the BTC rising above the $12,000 in the coming days.

Bitcoin News Today – While Bitcoin BTC Surges, It’s Not The Promised Land For Ripple XRP – Bitcoin Latest Update – Bitcoin Price Prediction

Though Ripple remains the third in the cryptocurrency market, it hasn’t seen the large trading that Bitcoin has been enjoying. There was some activity as the price rose to$0.3200 but it couldn’t escape the bearish zone and analysts prediction for the XRP show a dip as the bearish pressure continues. The price of the XRP may be tested by the $0.30 support level if the bearish pressure pushes the XRP price further down.

The Ripple XRP has a market cap of $14 billion while Ethereum ETH is $23 billion. Bitcoin’s market cap stands at over $200 billion. The 24-hour volume traded for the XRP is $1.1 billion. Ethereum ETH volume traded in 24 hours is $5.1 billion while for the BTC is $22.8 billion. Ripple XRP has an ROI of 5,477.36% while Ethereum ETH has an ROI of 7,653.90%. The Bitcoin BTC has an ROI of 8,544.37%. Research shown indicates that the price of the Bitcoin may rise further before the end of the year.

With July gone, predictions for August show that trading would increase. There is also a price prediction showing a profit for investors and traders. Long term traders that have invested in Bitcoin and the altcoin would also see a growth in their investment.

What would August hold for Bitcoin? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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