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Cryptocurrency Analysis – Bitcoin, Ethereum, Ripple, BitcoinCash and EOS

Date: 25th May 2018

1. Bitcoin (BTC):

Average Price: $7,442.88 (1 BTC)

Average Volume: $4,987,270,000 (669,439 BTC)

Bitcoin traded below $7500 and gained small back from yesterday’s loss. Bitcoin is struggling to hold its stable position above $7000. Probes in cryptocurrency exchanges by U.S and Canadian authorities have created uncertainty among investors. On the contrary South African company ‘Sygnia Ltd’ has announced to open their exchange in third quarter of this year. Future seems bright for the Big Gun of crypto world but for now prices are struggling to hold stable position. Bitcoin is expected to trade over $7500 on the weekend.

2. Ethereum (ETH):

Average Price: $587.94 (0.07891870 BTC)

Average Volume: $2,169,850,000 (291,258 BTC)

Ethereum price has started to recover slowly which was also effected by the U.S Department of Justice’s investigation. Ethereum has gained back much of its losses from past few days. Ethereum is holding string position against greenback as well as Bitcoin. Due to on-going investigations, Ethereum seems to be trading below $600 by the end of this week.

3. Ripple (XRP):

Average Price: $0.604939 (0.00008120 BTC)

Average Volume: $323,033,000 (43,361 BTC)

Ripple traded in red against U.S dollar as well as Bitcoin. Ripple has been showing strength and holding on to above $0.60 mark. Ripple has been showing very slow upward motion in price. Amazon may be joining Ripple by the end of 2018. The news has not been announced in a formal way and many still consider it to be rumour. But the price can hike if Big Gun of retail industry joins Ripple. Ripple is expected to trade above $0.60 by the end of this week.

4. Bitcoin Cash (BCH):

Average Price: $1,012.14 (0.13585918 BTC)

Average Volume: $646,434,000 (86,771 BTC)

Bitcoin Cash traded in green against U.S dollar and Bitcoin in past 24 hours. But this week has been in red. Bitcoin Cash seems to recover and trade once again over $1000 mark. Mobile banking app ‘Revolut’ has added Ripple and Bitcoin Cash to its Crypto option and this will help build more trust of investors in Bitcoin Cash. Weekend for Bitcoin Cash seems to be over $1000.

5. EOS (EOS):

Average Price: $12.16 (0.00163214 BTC)

Average Volume: $1,758,060,000 (235,984 BTC)

EOS have been the winning side today. It traded well over $12 dollars also in green against Bitcoin. It has large trading volume as compared to others in last 24 hours. EOS was delisted from Livecoin that contributed towards downward trend. EOS is still down 20% this week. EOS has attracted intention of Billionaire investors and this may be a good sign for EOS future. Price is expected to hold above $12 this weekend

Ammar Alvi

Ammar is a mechanical engineer by profession and holds some investments in blockchain startups like Newtoncoin, Zcash and Monero. Contributes to the opinions. Email: editor.opinions@blockpublisher.com

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