Opinions

(May 27, 2018) Cryptocurrency Analysis – Bitcoin, Ethereum, Ripple, Bitcoin Cash and EOS

1. Bitcoin (BTC):

Average Price: $7,364.47 (1 BTC)

Average Volume: $1,755,940,000 (539,938 BTC)

Bitcoin traded in red at the end of this week. Prices were down for all major cryptocurrencies. Bitcoin was down 2.45% against U.S dollar. Today markets seen a mix reaction. Another investigation was launched by the U.K Financial Regulators against 24 cryptocurrency firms. This had a negative effect on prices all around the crypto world. While a relief came after Japan announced to welcome 6 new cryptocurrency exchanges. Overall it has been a rough week in downwards direction but latest development from Japanese stock exchange has given some hope for the investors. Prices are expected to stay stable for now but boost is expected soon after Exchanges start operating in Japan.

2. Ethereum (ETH):

Average Price: $574.17 (0.07967202 BTC)

Average Volume: $1,755,940,000 (230,511 BTC)

Ethereum traded in red against U.S dollar as well as Bitcoin. Ethereum lost all its gains in 24 hours. Price fell by 4.97% overall. Since the beginning of probe by U.K officials in crypto firms, price has been going down in a slow motion. Launch of games such as Zombie Chain on Ethereum blockchain have gained attention of many new investors as well as game enthusiasts. Such developments will have a positive effect in Ethereum price in future as large amount of investors are expected to chip in.

3. Ripple (XRP):

Average Price: $0.609468 (0.00008250 BTC)

Average Volume: $198,731,000 (27,404 BTC)

Ripple traded 2.01 lower against U.S dollar but price was stable against Bitcoin. Kuwait’s Islamic leader revealed his interest in joining Ripple Network. Price of Ripple is expected to stay stable for a while before it start moving back up again.

4. Bitcoin Cash (BCH):

Average Price: $999.55 (0.13695033 BTC)

Average Volume: $988,350,000 (66,318 BTC)

Bitcoin Cash traded 3.55% lower against U.S dollar and it has shed nearly all the profits made during this week. Price is expected to stay below $1000 while the probe by U.K and U.S officials in various markets are underway. Bitcoin Cash is expected to become stable with the growing community.

5. EOS (EOS):

Average Price: $12.50 (0.00168390 BTC)

Average Volume: $988,350,000 (144,849 BTC)

EOS also traded in red. Fall of 1.89% against greenback or the U.S dollar was noticed. EOS seems to be holding stronger position against Bitcion and other major cryptocurrencies. Main-Net launch for EOS is only few days away and EOS is gaining lots of attention lately. Most of it has been positive. Big investors are also taking interest in EOS and it is expected that price may get a sudden boost eventually.

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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