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

1. Bitcoin (BTC):

Average Price: $7,565.85 (1 BTC)

Average Volume: $6,233,970,000 (823,962 BTC)

Bitcoin has dropped 9% in this week, falling below $8000 to its lowest level since April. In past 24 hours alone, Bitcoin dropped to another 8.18%. Blames are upon the crackdown on different exchanges around the globe that triggered wide spread sell off. Prices are expected to fall further and many investors are hoping to see price sky rocket in near future.

2. Ethereum (ETH):

Average Price: $574.47 (0.07631797 BTC)

Average Volume: $2,844,100,000 (377,838 BTC)

Ethereum declined 7.11% in past 24 hours. It has been struggling against U.S dollar as well as Bitcoin. Recent developments in Sirrus Corp Company who has announced that it would be establishing itself as Blockchain Notary Service Provider on Ethereum network that will provide attestation and timestamping of digital documents. This may help in recovery of Ethereum price in coming days.

3. Ripple (XRP):

Average Price: $0.592625 (0.00007873 BTC)

Average Volume: $448,823,000 (59,626 BTC)

Ripple traded below $0.60. Price fell 11.50% in past 24 hours. Ripple is focusing on introducing its technology to various business. Recent probes in various cryptocurrency exchanges have put all top currencies in red. Price of Ripple may stay same unless its demand grow significantly. Ripple is expected to drop further with other major currencies this week.

4. Bitcoin Cash (BCH):

Average Price: $1,005.64 (0.13307608 BTC)

Average Volume: $826,395,000 (109,357 BTC)

Bitcoin Cash also decline by 7.75% in past 24 hours. The bull has been struggling to keep price above $1000. Bitcoin Cash is also struggling against Bitcoin. Price is expected to rise in near future as more and more companies are begin to join Bitcoin Cash as well as Litecoin. Recently CheapAir announced that it will be accepting Litecoin and Bitcoin Cash as mean of Payment. This will help Price to recover and may skyrocket.

5. EOS (EOS):

Average Price: $10.97 (0.00145115 BTC)

Average Volume: $1,587,260,000 (210,042 BTC)

EOS resumed in a downward trend and traded with a loss of 15.09% against U.S dollar. Downfall came days before its main-net launch. U.S and Canadian officials launched a cracked down on scam currencies that triggered a sell-off in all major exchanges. Prices of all major currencies have been falling ever since. Recovery from downward trend is expected soon. EOS price is expected to rise after as well as before its main-net launch.

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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