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(May 26, 2018) Cryptocurrency Analysis – Bitcoin, Ethereum, Ripple, Bitcoin Cash and EOS

1. Bitcoin (BTC):

Average Price: $7,552.30 (1 BTC)

Average Volume: $4,077,770,000 (539,938 BTC)

Bitcoin traded 1.38% higher in 24 hours. Much pressure has been on the Big Guns of crypto world since the investigation by Department of Justice. They have targeted many fake orders that had manipulated price of Bitcoin in the past. Regulatory uncertainty have forced many investors to think twice before investing in crypto. Many fear that price may hit as low as $5000 once again in coming months unless some interesting development happens in Bitcoin arena.

2. Ethereum (ETH):

Average Price: $601.71 (0.07967202 BTC)

Average Volume: $1,740,890,000 (230,511 BTC)

Ethereum has made slight recovery and traded stronger against Bitcoin and U.S dollar. Ethereum traded above 2.1%. Ethereum has an advantage over Bitcoin as it is the most promising blockchain platform and this has been supporting Ethereum all along. A global real estate ‘Propy’ has announced that they will soon be accepting major cryptocurrency for payment. It may be a small development for Bitcoin, Ethereum and Ripple but something positive for now. Price of Ethereum is expected to trade higher against Bitcoin for another 24 hours.

3. Ripple (XRP):

Average Price: $0.623096 (0.00008250 BTC)

Average Volume: $206,962,000 (27,404 BTC)

Ripple traded 2.73% higher against U.S dollar. It has also gained support by the community against Bitcoin. Ripple is expected to hold its position over $0.6 for next 24 hours. Ripple possess enough strength to keep going as many companies have already signed up with Ripple. Partnership with Amazon can have a major impact on the price but no confirmation has come so far about the development.

4. Bitcoin Cash (BCH):

Average Price: $1,034.29 (0.13695033 BTC)

Average Volume: $500,852,000 (66,318 BTC)

Bitcoin Cash traded 2.1% higher against U.S dollar and it has also recovered bit of its losses against Bitcoin. As the community grows for Bitcoin Cash, it will be expected to rise against Bitcoin as well as U.S dollar. It is yet to recover and gain support that it has lost in past few days. Probes in different exchanges by the authorities have created fear and uncertainty among traders and community is yet to recover from the trauma.

5. EOS (EOS):

Average Price: $12.72 (0.00168390 BTC)

Average Volume: $1,093,940,000 (144,849 BTC)

EOS traded in green and above 4.23% against U.S dollar. EOS has made a quick recovery so far unlike other major cryptocurrencies. More people are interested in investing in EOS as many major exchanges have recently signed up to EOS based IQ token airdrop. EOS is expected to trade above $13 next week.

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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