(May 28, 2018) Cryptocurrency Analysis – Bitcoin, Ethereum, Ripple, Bitcoin Cash and EOS

1. Bitcoin (BTC):

Average Price: $7,245.35 (1 BTC)

Average Volume: $4,883,150,000 (673,970 BTC)

Bitcoin traded in red and fall of 1.30% was noticed in past 24 hours. Major cryptocurrency exchange ‘Bithumb’ today, has banned accounts from 11 countries as part of Anti money laundering practice. So far start of new week has not been so promising for major investor because of uncertainty in market conditions. Bitcoin is expected to fall more with other cryptocurrencies in coming days.

2. Ethereum (ETH):

Average Price: $531.16 (0.07331033 BTC)

Average Volume: $2,284,620,000 (315,322 BTC)

Ethereum had one more day in red against U.S dollar as well as Bitcoin. Ethereum fell further 6.45%. Over 12 Billion Dollars have been wiped off the market because of ban on 11 countries by Bithumb. Ethereum felt the blow hardest and lost on large scale. Price seems to go down on daily basis because of investigations by different authorities. Price of Ethereum may even drop under $500.

3. Ripple (XRP):

Average Price: $0.576741 (0.00007960 BTC)

Average Volume: $302,721,000 (41,781 BTC)

Ripple fell 5.08% against U.S dollar in past 24 hours. Apple fell as soon as ban on many traders was enforced by Bithumb. Ripple is expected to rise in next 24 hours as Apple has announced to use XRP for one its application as mean of payment. Ripple has joined Apple Family and it has been gaining attention of many investors since then.

4. Bitcoin Cash (BCH):

Average Price: $930.95 (0.12848862 BTC)

Average Volume: $548,154,000 (75,656 BTC)

Bitcoin Cash traded 5.90% lower against U.S dollar as well as Bitcoin. Many investors are having 2nd thoughts about cryptocurrency while ongoing investigation are underway by many authorities. Bitcoin Cash suffered the worst blow out of Top 5 currencies and it is expected to loss more for next 24 hours.

5. EOS (EOS):

Average Price: $12.19 (0.00168227 BTC)

Average Volume: $1,509,350,000 (208,320 BTC)

EOS also traded in red but it hardly fell as bad as the rest of Top 5. It fell 1.63% in past 24 hours and also held a strong position against Bitcoin. EOS is 5 days away from its main-net launch and it is gaining support from community as well as investors. Cryptocurrencies are suffering from past few weeks, EOS is still maintaining its strong position. Price of EOS is expected to rise and may even cross $13 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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