Bitcoin (BTC.X)
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Bitcoin: what do the bulls and the bears say?

Carla Olson | 5:25 pm ET, 19 Sep 2018

Bitcoin price has been less volatile lately compared to 6 months ago. As the price becomes more stable, consumers are starting to think about investing in Bitcoin again.  As you're thinking about this, take a look at the questions we frequently get about Bitcoin as an investment or trading opportunity:

  • Is Bitcoin currently a buy or a sell?
  • Should I sell or hold Bitcoin today, if I purchased it 3 months ago?
  • Is Bitcoin a good buy/investment opportunity?

 Before making any premature decisions, taking a look at the bull case for Bitcoin:

1. Bitcoin is the most established cryptocurrency with the highest market capitalization, north of $100B.

2. An increasing number of investors and entrepreneurs see bitcoin as a legitimate asset class just like stocks, bonds or commodities.

3. Financial infrastructure is rapidly gaining maturity, which provides great support for digital currencies such as Bitcoin.  For example, GDAX and Coinbase now support margin trading

4. Bitcoin is like gold today.  Even if a lot of money is printed by the central banks, or in wartime circumstances, the value of Bitcoin won't fall dramatically.  The cryptocurrency remains a decentralized computer network that can't be controlled by an authority such as the Federal Reserve.

5. Because of the volatile market conditions and political uncertainty, the faith in government institutions and the stock market is reducing, while the popularity of Bitcoin is growing.

6. Investing in Bitcoin is not a difficult task.  It is as simple as buying a stock on an online exchange. By using a zero-cost brokerage such as Robinhood, this can be done easily.

Here are the reasons to sell Bitcoin cryptocurrency (a.k.a., the bear case):

1. Bitcoin use cases for ordinary consumers in real life are somewhat limited.  The reality is far from what the Bitcoin team actually claims. Stores such as Overstock and Subway accept Bitcoin besides cash and cards. But to this date, Bitcoin does not replace cash. Besides this, Bitcoin transactions take a longer time than using a credit card.

2.  Bitcoin is more likely to get scrutinized by government authorities since cybercriminals and drug dealers use it as the principal method of payment. For example, cybercriminals involved in the recent ransomware attack named WannaCry asked for a payment in Bitcoin.

3. The high volatility of  Bitcoin makes it less appealing to investors.  Looking back over the previous five years, one can find many instances when Bitcoin experienced spectacular crashes.  Even if it is performing well, there is no assurance that it won't crash tomorrow. 

4. Unlike hard cash or securities, Bitcoin has no tangibility. It is just a piece of code or a special digital storage vault, but a person can't ask a company or any financial institution to honor it in any country.

5. Bitcoin has a high risk of fraud.  The general population is still not knowledgeable about Bitcoin, so fraudsters are likely to take advantage of this situation (e.g., launch a Ponzi scheme that 'guarantees' high rates of returns).  

Bitcoin (BTC.X) is trading at $6,343.12.  Over the last 30 days, BTC.X gained 3.3%.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Bitcoin Cash (BCH.X) price: where is the abyss?

Carla Olson | 10:20 am ET, 12 Sep 2018

Bitcoin Cash (BCH.X) is trading at $422, down by 5% from yesterday. This is another abrupt fall in the Bitcoin Cash price against the US Dollar. Bitcoin Cash could not clear the $470 resistance, and a bearish trend line is forming with a new resistance level of $405.

The token continues to be impacted negatively by the sell-off in the ICO market.  In addition, a ruling yesterday in the US that ICOs are covered by the US security law added to the negative sentiment. While ICOs will be judged on a case-by-case basis, the decision gives the SEC the powers to bring criminal proceedings against fraudulent companies.

In contrast to the price fall, Bitcoin Cash continues to impress investors with its technical performance.  A stress test conducted on September 1 led by the protocol miners processed about 2.2 million transactions in 23 hours.  Coingeek, Waterhole, BMG Pool, and Viabtc were some of the miners that processed transactions sized 4-15MB.  This test indicated the on-chain capability of a network. 

BCH is widely used in Venezuela, Iran, and Cyprus where it is supported by a large number of merchants. 

What is Bitcoin Cash price forecast?  Here are the major technical indicators:

  • MACD is in the deep bear zone.MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator)  for BCH/USD  pair is below 40, which indicates the coin is oversold. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $455;
  • A new major resistance level is forming at $405.

Over the last 30 days, BCH.X lost -28.43%, which is 19.98 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Bitcoin (BTC.X) price: still bearish, despite some positive developments

Carla Olson | 7:26 am ET, 08 Sep 2018

Bitcoin (BTC.X) is trading at $6,450, up 1% from yesterday.  Its price extended downside correction and tested the key support at $6,400 against the US Dollar.  What is Bitcoin's price forecast?

ShapeShift CEO Erik Voorhees said that the bear market for Bitcoin is not over yet.  ThinkMarkets chief market analyst Naeem Aslam thinks similarly and believes that speculators have unnecessarily intensified the downtrend by overselling Bitcoin in the global exchange market. 

However, there are a number of positive developments related to Bitcoin.  The largest bitcoin mining pool in the world BTC.com is intending to expand its operations: it released a client designed to mine the Ethereum blockchain. Initially, the pool will support Ethereum and Etereum Classic. In order to enhance profitability, the users will get an option to shift between the two Ethash based cryptocurrencies.

Around 16% of Bitcoin's computing power is accounted for by BTC.com. BTC.com also makes up 14% of the Bitcoin Cash network. The mining operations are expected to grow by 12% in the upcoming 12 months.

Here are the major technical indicators for Bitcoin:

  • MACD is placed is in the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is below 50, indicating the coin is oversold.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $6,350;
  • A new major resistance level is forming at  $6,650.

Over the last 30 days, BTC.X lost -12.77%.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Zcash (ZEC.X) price prediction: all you need to know

Carla Olson | 8:02 am ET, 30 Aug 2018

ZCash (ZEC.X) is trading at $148.35.  The cryptocurrency is rebounding from its recent low of $125, which it reached earlier this month.  What's ZCash price forecast, and which developments should investors be aware of?

ZCash fell by 90% from its all-time high. Still, it is among the top 20 cryptocurrencies, with a market cap of $780 million USD.

Zcash was issued with a goal to introduce privacy in blockchain transactions. It hides transaction details and ensures the privacy of its users by leveraging the zk-SNARKS protocol (based on zero-knowledge proof).

Unlike bitcoin which takes 10 minutes to generate a block, ZCash can do it in 2.5 minutes. 

ZCash is releasing a new update known as Sapling, which will offer faster transactions while shielding ZCash addresses.  The update will make ZCash even more attractive to investors who want to maintain privacy in the fast decentralized payment network.

The proposed extra layer of ZCash called BOLT, inspired by the 'lightning network',  will establish a private link among Zcash, Bitcoin, and Litecoin. This will help dismantle tribalism occurring in the cryptocurrency world today.

What's the sentiment towards ZCash? Here are the major technical indicators:

  • MACD is placed slightly in the bullish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) seems to be bullish. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $145;
  • A new major resistance level is forming at $157.

Over the last 30 days, ZEC.X lost 46.89% of its value, which is 43.03 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


EOS: will the bearish trend continue?

Carla Olson | 9:04 pm ET, 11 Aug 2018

EOS (EOS.X) is trading at $4.98, down 5% from yesterday. The break of short-term support zones in EOS price has paved way for more declines, which means we are still in the sell-off mode.

What is EOS price forecast? Will the bearish trend continue for much longer?

EOS price is below the 12-day exponential moving average (EMA), as well as below the 26-day EMA, which is an indication the bearish market trend could continue.  

However, there are some good news in the EOS' ecosystem.  A blockchain startup Havven, which offers cross-blockchain payments, is going to bring its stable coin, i.e., a cryptocurrency tied to a stable asset, to the EOS network.  The startup aims to issue USD on the Ethereum as well as EOS network, thus enabling cross blockchain payments. The stable coin will adjust its supply according to market shifts, so as to maintain the price of a fiat currency.

The primary entity behind the EOS, Block.one announced it is pursuing a $1 billion investment fund for the ecosystem growth. In the cryptocurrency world, EOS is the 5th most valuable crypto with a market cap of $4.9 billion USD.

The EOS platform offers solutions for individuals, businesses, as well as organizations. It has the potential to measure a degree of flooding and find fire boundaries for disaster management. It also may be able to identify oilrigs and asses their impact on the environment.  To provide platform-based services to their customers, EOS' partner companies use EOS white-labeled solutions.

 Here are the major technical indicators:

  • MACD is in the bearish zone.  MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is moving into the oversold territory, indicating exhaustion among the sellers. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $4.66;
  • A new major resistance level is forming at  $5.40.

Over the last 30 days, EOS.X lost -32.67%, which is 28.47 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Ripple (XRP): burgeoning optimism?

Carla Olson | 9:05 pm ET, 09 Aug 2018

Ripple (XRP.X) is trading at $0.35, up 6% from yesterday.  Ripple's price is forming a strong support base near $0.327 level against the US Dollar.  What is Ripple's price forecast? Is it finally rebounding?

First, here are some fundamentals about Ripple.  It is different from other crypto companies because it sells services to financial institutions.  Ripple enables faster, safer and cheaper cross-border settlements, compared to other platforms. Its two services xRapid and xCurrent have the potential to revolutionize the financial industry.

Today, most of the top altcoins are more efficient or usable than BitcoinRipple is venturing into Bitcoin's space as a base currency at a faster rate than other cryptos. Many leading exchanges such as DCEX and Unocoin in India have expressed their intent to incorporate Ripple as their base currency, and some have moved towards implementing it.

SBI Japan, a reputable financial institution, has decided to use Ripple as a base pair currency.  This step is a game changer for the altcoin.  SBI Japan may have a remarkable impact on Ripple's future price value by opening up huge investments which amount to billions of dollars of Ripple available for trading.

There was a significant rise in the number of sign-ups and transactions when Ripple partnered with Wirex since the company was able to add XRP as a payment method for its Visa card.  About 40 million merchants in more than 200 countries support the Wirex card.  After the partnership, a whopping $2 million of XRP were deposited in just 12 hours.

Because it is fast and cost-free when it comes to transactions, XRP has an excellent opportunity to be adopted in real-life scenarios.  Last week, when the leading coins in the crypto market dropped 20% in value, XRP was the only altcoin which had a single digit loss against the US Dollar. 

Here are the major technical indicators:

  • MACD for XRP/USD is placed in the bullish zone.  MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) for XRP/USD is moving lower towards 30, indicating the cryptocurrency is oversold. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $0.327;
  • A new major resistance level is forming at  $0.395

Over the last 30 days, XRP.X lost -10.39%, which is 16.35 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Bitcoin's abyss: when will the bleeding stop?

Carla Olson | 5:52 pm ET, 08 Aug 2018

Bitcoin (BTC.X) is trading at $6,316, down 8% from yesterday.  Bitcoin price fell below $6,500 support level against the US Dollar.  There is a strong buying interest near $5,850 which is indicative of an eventual upward move.

What is Bitcoin's price forecast?  Can the downward trend be treated as a minor correction, or is there more price pain ahead?

Bitcoin fell sharply on Wednesday because the SEC postponed its decision on whether it would approve a bitcoin exchange-traded fund (ETF) proposed by VanEck and SolidX.  This is VanEck's third attempt to push a Bitcoin ETF through.

However, some investors claim the price fall is just a minor correction. Brian Kelly, the CEO of the digital currency investment firm BKCM, opines that the market appears to have reversed its sentiment toward Bitcoin. The reasons from his perspective include SEC’s statement that Bitcoin is not a security and interest in Bitcoin ETFs, which in his mind will eventually be approved.  

In the corporate world, the sentiment towards Bitcoin has swung again from positive to negative.  BlackRock, on the one hand, is tuning its eyes towards Bitcoin, so an institutional-quality custody solution seems to be just a matter of time.  Jamie Dimon, JPMC CEO, only the other hand, is bashing the crypto again, calling Bitcoin a 'scam'.

In addition, UBS claimed that Bitcoin wouldn't be a mode of payment for global transactions because of its instability and limitations. 

One user lost a lot of money after making a huge gamble on Bitcoin futures.  OKEx, a Hong Kong-based cryptocurrency exchange where the gamble occurred, revealed that it had to claw back millions from counterparties.  When the user declined the exchange's request to lower his position, OKEx froze the user's account and force-liquidated an unusually large long position of 4,168,515 bitcoin futures contracts.  The total value of the position was over $400 million USD.

The liquidation presented a loss to investors of around 1,200 BTC, or $8.8M USD when the event occured.  The exchange also injected about 2,500 bitcoins into the insurance fund.  The platform's insurance fund's objective is to cover margin call losses.

Here are the major technical indicators:

  • MACD for Bitcoin is currently pretty bearish.  MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is approaching 30, indicating the crypto is oversold. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at  $5,850;
  • A new major resistance level is forming at  $6,500.

Over the last 30 days, BTC.X has been on a rocky ride, swinging up and down.

For crypto traders' guide, please check out Finstead's top cryptocurrency recommendations for August 2018.  

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


11 best cryptocurrencies for August 2018

Carla Olson | 9:59 pm ET, 05 Aug 2018

After a significant dip in the second quarter of 2018, cryptocurrencies are becoming popular again among retail investors, appearing in the mainstream media headlines every day. There are a few cryptocurrencies that have grabbed investors' attention.  What are the best cryptocurrencies to invest in in August this year?

Before we share with you our top 11 list, here is our little hack: use the cryptocurrency investment idea tool to stay up-to-date on the best investment opportunities in the altcoin space.

1. Bitcoin

Bitcoin is by far the most popular cryptocurrency today, garnering a plenty of investors' attention. We think Bitcoin may be a good opportunity to invest in now because: 

  • It is the most established cryptocurrency.
  • Stock market volatility and political uncertainty are good for Bitcoin. In general, political unrest is not good for the stock market, because its value is tied to established companies that depend on government services.  But given the political climate across the world, and decreasing faith in government institutions, Bitcoin is becoming increasingly more popular.
  • It's easy to invest in it: investing in Bitcoin is as simple as buying a stock on an online exchange. You can use also a zero-cost brokerage such as Robinhood to do that.

Bitcoin (BTC.X) is trading at $7,654.54, up 0.27% from yesterday.  Over the last 30 days, BTC.X gained 20.64%.2. Stellar Lumens

Stellar is also based on the blockchain technology.  It connects banks, payments systems, and people with a goal to move money quickly, reliably, and at little or no cost.  Here are the  main reasons why one should consider investing in the cryptocurrency now:

  • Stellar offers low-cost transactions and accounts. 1 USD will cover about 400,000 transactions, and there are various licensed exchanges where Stellar Lumens can be purchased. 
  • There is a good market opportunity for the cryptocurrency as Stellar is the first distributed ledger protocol which received Sharia compliance certification in the money transfer and asset tokenization space.
  • Security is one of the main focus areas for Stellar, and the company solved security-related challenges in a very creative and effective way. Stellar's nominal base fee, paid by transaction initiators, deters malicious attacks that can flood the network. Whenever there is a suspicious account submitting transactions, this base fee increases. 

 Stellar (XLM.X) is trading at $0.27, down by 0.75% from yesterday.

Over the last 30 days, XLM.X gained 39.58%, which is 18.94 percentage points higher than the 30-day return of Bitcoin (BTC.X).3. IOTA

IOTA has a market capitalization of $2.5 billion USD today. It focuses on the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT) and other applications where a scalable decentralized system may be warranted. 

Unlike other cryptocurrencies that are based on the blockchain technology, IOTA  makes use of its unique infrastructure known as Tangle. We think IOTA is a good investment opportunity now, because of the following reasons:

  • It has good scalability, no-fee transactions, and no blocks.  It targets the up-and-coming market opportunity called the Internet of Things (IoT), which could reach more than 1 billion transactions by 2020, thus necessitating a secure, cheap and scalable micro-billing mechanism for everyone.
  • Its partnerships with the mainstream companies such as BOSCH, Volkswagen, and Porsche seem to be very promising.
  • It can be easily bought in a hasslefree manner using many exchanges (e.g., Coinhako).  With the growth in the ecosystem every day, buying or selling IOTA will become even easier.

IOTA (IOT.X) is trading at $0.91, down -2.8% from yesterday.

Over the last 30 days, IOT.X lost -12.87%, which is 33.52 percentage points lower than the 30-day return of Bitcoin (BTC.X).4. EOS

EOS is one of the most used blockchains in the world today. It has a market capitalization of $6.3 billion USD.  

EOS is a blockchain project that enables horizontal scaling of decentralized applications, allowing developers to efficiently create high performance distributed applications. It is a good investment opportunity because:

  • It is simple to use, and accounts are easily recoverable in case of security breaches. This is very helpful for the mainstream public that doesn't have much experience with private keys and account security issues.
  • The EOS network is pretty efficient with handling volume bottlenecks on high transaction days.
  • EOS has zero transaction fees. When a smart contract is executed, EOS requires the user to stake tokens which are returned back to him or her after the execution.

EOS (EOS.X) is trading at $7.04, down by 3.68% from yesterday.

Over the last 30 days, EOS.X lost -12.01%, which is 32.65 percentage points lower than the 30-day return of Bitcoin (BTC.X).5. Ethereum

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It is one of the most promising coins in the crypto world and one of the best long-term investment choices for crypto investors because of the following reasons:

  • Since many Initial Coin Offerings (ICOs) intend to release their tokens on the Ethereum network, its price is expected to appreciate over time.
  • It has the potential to transform the financial system just like Uber and Airbnb did in their own industries. The Casper and Sharding technologies depict significant milestones in its development.
  • A decreasing trust in the traditional financial markets is prompting traditional investors to look into the most established cryptocurrencies such as Ethereum.

 Ethereum (ETH.X) is trading at $418.08, down by 1.82% from yesterday.

Over the last 30 days, ETH.X lost -7.15%, which is 27.80 percentage points lower than the 30-day return of Bitcoin (BTC.X).6. NEO

NEO is the first Chinese cryptocurrency to be globally accepted.  Founded in 2014, its mission is to reinvent the way commerce is done.  

NEO entered the top 15 coins by market cap and its capitalization is north of $1.7 billion today.  We consider it to be a good investment option because of the following reasons:

  • NEO is not just a cryptocurrency, but also a project that helps in the creation of digital assets, smart contracts, and other applications on its blockchains.
  • In the NEO platform, a straightforward transfer of shares, equity, and assets is possible because users are able to issue and trade assets. In order to prove an asset's ownership, tokens are distributed.
  • The platform is powerful enough to process 10,000 transactions per second, so there is virtually no transaction latency. This capability attracts a huge number of partners from all over the world, besides China.  

NEO (NEO.X) is trading at $29.19, down by 2.89% from yesterday.

Over the last 30 days, NEO.X lost -10.87%, which is 31.51 percentage points lower than the 30-day return of Bitcoin (BTC.X).7. NEM

NEM is a blockchain built for enterprise-grade performance.  Here are the reasons to invest in NEM now:

  • Compared to Bitcoin, NEM has more real-time case uses.
  • It is the best option for portfolio expansion. No programming knowledge is needed to use the platform as it is quite user-friendly.
  • With cryptographic signatures, NEM is capable of acting as an authentication and notary-type service. It is targeting the retail industry with its blockchain technology. The customers' loyalty points can be converted into money which would reduce the shortcomings such as mistakes in the loyalty points program. 

NEM (XEM.X) is trading at $0.16, down by 2.08% from yesterday.

Over the last 30 days, XEM.X lost -7.8%, which is 28.44 percentage points lower than the 30-day return of Bitcoin (BTC.X).8. Ripple

It is one of the popular cryptocurrencies among the crypto traders. XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. XRP consistently handles 1,500 transactions per second and can scale to handle the same throughput as Visa.

We consider Ripple to be a good investment option because of the following reasons:

  • It is used in the real world today to enable high-speed and low-cost money transfers worldwide.
  • Ripple is going to build more financial market partnerships in the upcoming period, which means its applicability will spread over time.
  • xRapid, used for payment providers and other financial institutions that want to minimize liquidity costs, is gradually being adopted in the market. It can complete international settlements in a short span using XRP as a bridge currency. 

Ripple (XRP.X) is trading at $0.44, down by 2.71% from yesterday.

Over the last 30 days, XRP.X lost -3.7%, which is 24.34 percentage points lower than the 30-day return of Bitcoin (BTC.X).9. Litecoin

It was created by Charlie Lee with the intent to make a lighter version of Bitcoin.  Litecoin is a peer-to-peer currency that enables instant, close-to-zero cost payments to anyone.  Here are the reasons why it may be a good investment option now:

  • A Bitcoin transaction needs 10 minutes to execute, whereas Litecoin takes around 2.5 minutes. The transaction cost for Litecoin is smaller compared to Bitcoin: $0.23 vs. $2.83.
  • This digital currency can be bought easily.  Because of its popularity, it is traded on Coinbase (the top digital currency wallet and exchange).
  • Litecoin was the first crypto asset to be traded on eToro. It's potentially on the upside because of its robust usage, evidenced by the number of active addresses per day. 

Litecoin (LTC.X) is trading at $77.47, down by 0.78% from yesterday.

Over the last 30 days, LTC.X lost -2.64%, which is 23.28 percentage points lower than the 30-day return of Bitcoin (BTC.X).

10. Ethereum Classic

Ethereum Classic is the continuation of the original Ethereum blockchain, prior to the July 2016 DAO hack.  Here are the reasons why it may be a good investment option now:

  • Currently, Ethereum Classic processes 48,000  transactions per day and is soon expected to reach the 100,000 mark, upon being licensed on Coinbase.
  • The Ethereum Classic Development Team (ETCDEV) has big plans around IoT, since Ethereum Classic has the most secure blockchain.  There is a pretty decent probability that the company will capture a share of the IoT market.  ETC's scalability will be enhanced after the inclusion of side chains.  
  • Its partnership with a South Korean exchange Zeniex will help ETC enter the Asian market per Memorandum of Understanding (MoU) signed between the two companies.

Ethereum Classic (ETC.X) is trading at $15.21, down by 5.26% from yesterday.

Over the last 30 days, ETC.X lost -3.72%, which is 24.37 percentage points lower than the 30-day return of Bitcoin (BTC.X).

11. Binance Coin

Binance is one of the largest and most powerful cryptocurrency exchanges with a market cap of about $1.5 billion USD.  Reasons for investing in Binance Coin include:

  • Binance processes about 1.5 million orders per second and over $1 Billion per day.  The company's native coin BNB has been the best performing coin since July 2017 (its inception time).
  • The interface is user-friendly, so investors can enjoy a seamless trading experience. 
  • The Binance exchange is one of the most secure exchanges in the world, so the chances of a hack or malicious cyber attack are significantly reduced. Also, its stability provides assurance to its users.

Binance Coin (BNB.X) is trading at $13.61, up 1.11% from yesterday.

Over the last 30 days, BNB.X lost 3.43%, which is 24.08 percentage points lower than the 30-day return of Bitcoin (BTC.X).Do you want a daily updated view of cryptocurrency news, price analyses and speculations?  Check out Finstead Bites, to get your scoop on cryptocurrencies and make your next bet.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Cardano price speculation: an overpowering bearish trend, despite future prospects

Carla Olson | 7:19 am ET, 03 Aug 2018

Cardano (ADA.X) is trading at $0.13, down by 4.63% from yesterday.  On the hourly ADA.X chart, we notice a crucial bearish trend line with a resistance level at $0.125.

Cardano has struggled recently despite the buzz that it is ready to take up Ethereum.  The platform itself is very promising: it aims to become a scalable and secure smart contracts solution.  Some of its prominent features include a working paper wallet and a proof-of-stake algorithm (Ouroboros is the first verified and secure proof-of-stake algorithm).

Cardano preserves the privacy of its users despite being compliant with the regulations. It is the first platform to maintain this type of balance, hence investors consider it to be future-proof.

A short-term rise in Cardano's price is likely to occur if it gets listed on Coinbase. The creators of Cardano are very ambitious, intending to make an impact in every sphere of the global economy.  They argue that, as the platform gets more popularized, it will eventually become a $1 trillion project.

What is Cardano's near-term price prediction? What do investors speculate about its price?  Here are some major technical indicators:

  • MACD is in the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is moving lower towards the 40 level, indicating the coin is oversold.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $0.148;
  • A new major resistance level is forming at  $0.125.

Over the last 30 days, ADA.X gained 4.47%, which is 20.96 percentage points lower than the 30-day return of Bitcoin (BTC.X).

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