Ripple’s Sales of XRP Inflicting Downward Price Pressure: Multicoin Capital

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The downtrend on the crypto market seems to go on and on, but it doesn’t discourage traders and experts from coming up with crazy price predictions. Let’s check out what they think about the future of the cryptocurrency: here are top last week BTC, ETH, and XRP price predictions from video bloggers.

BTC: Either $8,500 or $16,000 at the end of 2019

There are two opposite opinions regarding the future of Bitcoin. However, it’s not impossible for both of them actualize.

According to the video from Crypto Kirby Trading, Bitcoin got rejected on $10,014 and started falling down. The support of the trendline was lost, as well. Thus, BTC got caught into the serious downtrend. What’s going to happen to it now? Can we get a bounce at that point? We should see the BTC test the resistance line for it to get to the higher high. In the nearest weeks, BTC will attempt to break $10,040 resistance. There have been many touchpoints on the $10K level, and this pattern can break on the downside, as well. $8,500 level can also become the new lowest low during this diving.

On Krown’s Crypto Cave channel, the blogger was talking about the levels that Bitcoin should hold. The current period is very tricky, but BTC should hold the support around $9,000. Will it? We have noticed that BTC both microtrends and macrotrends are bearish, so there is nothing to guarantee its safety in the nearest weeks. 

One interesting video was posted by Mango Research. Depending on how the patterns are broken, Bitcoin can either fall to $7,000, or make it to $14,000. This opinion is supported by The Moon blogger: according to him, $8,500 and $7,200 targets are also possible. BTC can get into trouble because the current trend is pessimistic even if we simply judge by technical indicators. 

Alts are on the thin ice: ETH follows BTC path

Evidently, altcoins couldn’t resist the downtrend and followed Bitcoin’s path. Ethereum is not an exception. It touched the support line and went down.

According to ETH price analysis from DataDash, Ethereum is in a descending wedge. Lower lows are renewed after the recent breakout, and Ethereum experiences a pullback. It’s not necessarily a bearish period. There’s a lot of pressure, though. Thus, Ethereum is likely to touch $150 level, and maybe even go down. Don’t expect it to explode until Bitcoin starts recovering.

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In HueFin News’ video, ETH is entering the buy area. It has already touched $168 area, and since it didn’t hold $180 level, the fall will be epic. What to expect? The previous lowest low was back in May 2019 when it was on $156 level. Most likely, ETH will touch this mark again. 

SkinnyMoonHunter claims that things will move fast. Either we drop, or we will fall violently (it applies to both BTC and altcoins). The situation looks brutal. The pattern might be a triple mountain ridge: which means ETH can fall to $150 and lower, and then approach $190 again. Yet, the next move might include a tighter price gap. 

The fear and greed index is at 41, which means traders are not hurrying to enter the market and buy. Most probably, they’re waiting for ETH to touch even lower levels. 

XRP: Time for the rocket to be launched

The world has been waiting for XRO to skyrocket for a very, very long time. And this is why while some traders disappoint and sell, others are patiently waiting and trying to figure out the point when XRP breaks the resistance.

Ripple Transfers More Than $132 Mln Worth of XRP to Unknown Wallet

Patrick Corsino has published an interesting video where he analyzes all-time Ripple price channel: we see there were two lower touchpoints during the history with the last one happening recently. If the next touchpoint around $0.20 is achieved, it might be the last bottom for the nearest period. Who knows – maybe XRP will get to $10 point? The bull run can get it to $1 before the end of 2019.

So when XRP is preparing for a blast? Judging by HueFin News, it won’t happen in the nearest weeks. XRP is still on the bearish side. It is very likely to continue holding the position around $0.25.  

Conclusion

Judging by crypto price predictions, it’s not the bottom, and altcoins can continue moving down and lose 20% of their cost. Yes, the buy zone has already been entered, and if you’re a long-term investor, you can wait a bit. As for playing on shorts, it’s definitely not the right time.