(May 29, 2018) Cryptocurrency Analysis – Bitcoin, Ethereum, Ripple, Bitcoin Cash and EOS

1. Bitcoin (BTC):

Average Price: $7,442.77 (1 BTC)

Average Volume: $5,486,300,000 (737,131 BTC)

Bitcoin gained back few of its losses. Rise in price by 2.32% was noticed around exchanges in past 24 hours. Bitcoin still has to go a long way before it can fully recovery from losses. Bitcoin seems to be struggling to hold itself above $7,500. Price is expected to stay under $7,500 as there has been much pressure on investors so as doubts.

2. Ethereum (ETH):

Average Price: $559.03 (0.07331033 BTC)

Average Volume: $2,327,050,000 (312,659 BTC)

Ethereum recovered much of its losses against U.S dollar since yesterday but fight against Bitcoin is still underway. Ethereum traded above 4.44% today against U.S dollar. Ethereum and other cryptocurrencies are facing blows because of probes or investigations from the authorities. Ethereum is expected to rise against U.S dollar as well as Bitcoin in coming days.

3. Ripple (XRP):

Average Price: $0.593910 (0.00007980 BTC)

Average Volume: $374,771,000 (50,354 BTC)

Ripple recovered just a fraction of its losses since yesterday. It traded above 1.96% against U.S dollar. Ripple has made slight recovery. In long run, Ripple will outrun many major currencies but while many investigations are underway, Ripple seems to suffer with the majority. Ripple is expected to rise slightly in next 24 hours.

4. Bitcoin Cash (BCH):

Average Price: $973.97 (0.13086123 BTC)

Average Volume: $666,042,000 (89,488 BTC)

Bitcoin Cash had a bullish run last week but it did not last for very long. In past 24 hours, Bitcoin Cash traded above 4.33%. Bitcoin Cash is expected to trade higher against Bitcoin as well as U.S dollar in next 24 hours but it may not be enough to recover from past week’s losses.

5. EOS (EOS):

Average Price: $11.91 (0.00160005 BTC)

Average Volume: $1,767,520,000 (237,481 BTC)

EOS, among Top 5 currencies, was the only one that traded in red and fell against U.S dollar as well as Bitcoin. It traded below 2.76% in past 24 hours. EOS is only 4 days away from its main-net launch but researchers have started to find vulnerability and loopholes in EOS. This contributed towards its fall today. EOS is expected to trade above $12 once all the issue are resolved in next 24 hours.

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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