Latest Market News
In this next series of articles, we'll be focusing on Bitcoin, starting from its pre-history, followed by its development, deployment, and adoption phases, and finally landing at Bitcoin today, analyzing how widespread it is in 2019, while taking a dive in the various forms of regulations subjecting the decentralized currency among different parts of the world.
Binance is making a move into India – the company has just announced that it has acquired India-based cryptocurrency exchange WazirX, although it hasn’t disclosed any financial details about the deal. From November 25 forward, the relatively new Binance Fiat Gateway will add Indian rupee (INR) purchases for cryptocurrency.
Speculation about the future performance of Bitcoin is understandably one of the hottest topics in the cryptocurrency community – not only is Bitcoin the biggest cryptocurrency on the market, but its performance usually also has a decisive impact on the rest of the asset class. 2020 is a particularly interesting year for this discussion, as the BTC reward for newly discovered blocks will drop to 6.25 BTC in Bitcoin’s third “halving”, which is expected to happen in May of 2020.
Ethereum has seen a sharp price decline totaling around 4% over the past 24 hours of trading. This price drop is largely a result of BTC collapsing back toward the $8,077 level. Ethereum now trades at a price of around $175 with a price of ₿0.0215 against BTC.
With a market cap of $11.1 billion, XRP is the third largest cryptocurrency on the market today. XRP is the native asset of the XRP Ledger blockchain, which was launched in 2013.
As we move further into the final quarter of the year, this week’s choices are set to benefit from significant developments and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
The price of IOTA has continued to trade below the $0.3 for the past six weeks and below $0.317 the mid-year; making the market to remain boring for traders. Since the beginning of the month, the price has dropped by about 15% to where IOTA is priced now at $0.256. Meanwhile, support and resistance are still holding since our previous analysis on IOTA.
The Chinese government's public attitude towards Bitcoin and more broadly, the blockhain industry, has changed over the last few months. This is particularly interesting given that the country is developing its own digital currency called DC/EP.
For about four weeks now, Monero has been showing a sign of bullish after establishing support around $50 last month. Recently, the price surpassed $60 and penetrated the yellow descending resistance which has been forming since July. Now, XMR is priced at $64.3.
Ethereum is the second biggest coin on the market today - it has a market capitalization of $20.2 billion, which is only surpassed by Bitcoin. The Ethereum team conducted an ICO in 2014 and the Ethereum blockchain was launched roughly one year later on July 30, 2015. The project was originally envisioned by Vitalik Buterin, who remains the most prominent face of Ethereum to this day.
