Cryptocurrencies like bitcoin, ripple and ethereum are becoming the most reachable investment in the present-day financial scenario. It is important to remind people that since January 2017, the overall market capitalization of cryptocurrency has grown around five times. Current estimations are suggesting that cryptocurrency has a market capitalization of around $90 billion.
Among the 20 top cryptocurrencies in the world, Bitcoin, Ethereum & Ripple are leading. The price of a single Bitcoin is around $8,818.76 at the time of writing, whereas the amount of unique Ethereum and Ripple token is about $187.18 and $0.28, respectively.
Since its inception, Bitcoin is considered as the number one digital coin in the world. Bitcoin is going through a steep struggle for catching up with the broader array of recovery of the market, so much as it heading towards weekly closing. Ripple, the third-most traded cryptocurrency in the world, is moving like a slug as the top-third cryptocurrency. The recent reports point out that Ripple has lost around 4.5% in the last weekend.
Bitcoin is defending the minor bidding, and it is enjoying a market capitalization of around $159.88 billion. According to CoinMarketCap, the overall market capitalization of the 20 top-most cryptocurrencies in the world is about $243 billion.
Bitcoin Seems like Knocking at Wrong Doors:
In the previous week, Bitcoin has reportedly faced rejection of approximately 8,880 levels. The cryptocurrency is trying extremely hard to elevate its value of about $8,800 mark. Irrespective of the ups and downs in the past few weeks, Bitcoin still has a strong point of convergence. The forthcoming supply zones lie between $9,000 to $9,064.
Last week on Friday, Bitcoin’s value was around $9,200, and then it slowly came down to $9,000 and $8,800. Currently, Bitcoin is in the $8,000 category, how the price of a single Bitcoin increase or decrease is presently unknown at this point.
Ethereum and Ripple are down as they are directionless and lack essential support:
Ethereum is going through recovery by meeting up with the fresh supply, and the attempts are progressing towards resistance between $187.50 to $190. The optimistic Ethereum bulls are hoping the break would be above 190.
There is also a downside with Ethereum; the rate of recovery of the second-most dominant cryptocurrency in the world is shallow. Furthermore, the cryptocurrency was looking forward to moving towards $200, and then it fell off short just at $192. Ripple, on the other hand, is witnessed consolidating at $0.280, but the optimistic investors are gathering up the pace to get a strong resistance right in the middle of $0.2870-0.2898.
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By the looks of it, with this break, Ripple is most likely to face a stiff resistance of $0.3000. Irrespective of a shallow recovery, Ripple has been getting dominated by a peculiar centralizing action. It is important to note that Ripple has strong support at $0.245, which suggests that Ripple is not getting much affected like Bitcoin and Ethereum.
The valuation of cryptocurrencies like Bitcoin, Ethereum & Ripple by the end of 2019 is yet to be determined.
