Price Analysis



Bitcoin Price Manipulation Fueled Top Cryptocurrency’s 2017 Rally: Report

Bitcoin’s meteoric price spikes in 2017 were fueled by market manipulation and not merely investor enthusiasm. That’s the conclusion of University of Texas finance professor John Griffin.In his 66-page research paper entitled Is Bitcoin Really Un-Tethered?, Griffin said at least 50 percent of the increase in bitcoin prices in 2017 was manipulated using tether, another cryptocurrency pegged to the U.S. dollar.Professor Griffin, who specializes in spotting financial fraud, said circumstantial evidence suggests there was coordinated price manipulation designed to keep bitcoin prices artificially high.


Bitcoin faces ‘death cross’ after falling below $9 000

Bitcoin’s plunge back below $9,000 has the cryptocurrency facing a dreaded death cross. This occurs when the 50-day moving average breaks below its 200-day counterpart on a closing basis. As the name implies, it’s considered a bearish development.

This would be the first death cross for Bitcoin since 2015.

To be sure, there are some countervailing technical signals suggesting this event might not be so crippling. The 200-day moving average is still rising and served as intraday support Friday. In addition, Bitcoin is setting higher lows, with April’s trough higher than February’s.



Bitcoin Cash price analysis: BCH/USD gaining traction as “eat BCH” charity program in Venezuela feeds the citizens and their children

Bitcoin Cash price failed to gain enough momentum to propel it above $720 but instead embarked on a downside movement only to find support at $680 level. BCH/USD is currently gaining traction towards $700 level; however, there is a growing resistance at $695 zone.

In other news related to Bitcoin Cash, there is an ongoing P2P electronic cash-to-food system in Venezuela dubbed “eat BCH” that is revolutionizing charity and feeding the needy. The program is organized by a group of like-minded individuals and has been getting a lot of BCH to go towards feeding the citizens and their children.


Ripple price analysis: XRP/USD upside capped at $0.55 as the global cryptocurrency recovery fizzles out

Ripple is somewhat undervalued from the longer-term perspective as the cryptocurrency lost over 70% since the beginning of the year without clear fundamental reasons for the massive sell-off. This may lead to a more pronounced rebound, once the cryptocurrency market starts recovering from recent lows.

Ripple Network boasts about numerous partnership deals with payment operators, big banks, and financial institutions especially in the emerging markets, but the crypto players mostly don’t care. The market is driven by global catalysts and closely correlated to Bitcoin movements. It means that Ripple has good upside potential, but it won’t have a chance to realize it until the global sentiment shift takes place.