Topic: Crypto Price Analysis: Bitcoin, Ethereum, Ripple, Tezos, and Elrond (Read 185 times)

Bitcoin is the king of cryptocurrency.Honestly no coin can replace the place of bitcoin.When ever the price of bitcoin reaches high price, it usually reflected on altcoin too.If any beginners reading this thread, bitcoin is the best option. So better inverse your money on bitcoin, rather than investing on shitcoin.Ethereum is the second best coin to inverse your money.

The first 2 coins you mentioned surely they will rise up much more than they actually are . The rest I would take care and do 3 times research before investing in these type of coins

And it is impossible for bitcoin to be removed from cryptocurrency, because this is very influential also on pumping altcoins because that is also the effect of bitcoin as a whole so altcoins will not be able to do this if bitcoin drops or crashes.
Market capitalists are certainly bigger than bitcoin, if it is true that you say cryptocurrency will not develop this fast if there is no bitcoin at the forefront.

Yes, it will be the actual thing if we remove it, the whole market can be dump so hard. Also there can be a chance of ending crypto currency.

This time is far different compare to before, especially way back before the bull run 2017-2018 happened and after it.
We saw before a huge drop of Bitcoin dominance and a lot of altcoins pumps, shitcoins pumps too but Bitcoin remains calm.
Why Bitcoin will be out? Since at the Bitcoin is the first cryptocurrency have ever made.
To answer the question, if we remove the Bitcoin, the total market cap of cryptocurrency will dump so hard, removing Bitcoin with currently around 60% domination of the market, that's kinda huge.

The analysis was simple and solid and shows practically the last terms of the market, but the question we should ask ourselves is whether this adds anything or just shows how many other projects depend on Bitcoin's market value. This theme is the most discussed recently and we see different comments and opinions but we always arrive at the same result.

What would be of altcoins without Bitcoin?

Saw bitcoin today $11,800 ---> $11,500 then back to $11,600.

I think we're seeing the stability this time and it's a good news for us holders that wants bitcoin to be like this. And with one look on it, we'll see that the other cryptocurrencies behavior is also behaving like bitcoin.

Bitcoin
Bitcoin saw a 5% price rise this week as it reached the $11,750 level. The cryptocurrency started the week at the $11,400 level as it pushed higher into $12,095 on August 2nd. From there, Bitcoin experienced some major volatility as it dropped by $1,400 in just a few minutes to fall into the $10,575 (.5 Fib Retracement) level.

Ethereum
Ethereum saw a strong 15.5% price surge this week as the coin trades at $395. ETH started the week beneath the $350, and it started to push higher. It managed to reach $410 on August 2nd, but the volatility seen in Bitcoin caused it to dip as low as $321.

Ethereum quickly recovered from this spike and went on to finish August 2nd by closing above the .236 Fib Retracement at $370. From there, ETH slowly moved higher again as it reached $408 (1.618 Fib Extension). It was still unable to close above $400, which caused the coin to head lower into the current $385 level.

Ripple

XRP saw a very strong 24% price explosion this week as it reached the $0.306 level. The coin was trading at $0.26 at the start of the week as it surged higher to reach the $0.321 level (bearish .886 Fib Retracement). More specifically, XRP was unable to close above resistance at $0.313 (1.414 Fib Extension).

The coin has been trading between $0.3 and $0.313 over the past 4-days and must break this range to dictate the next direction of the market.

If the bulls can break above $0.313 and $0.321, additional resistance is expected at $0.331 (1.618 Fib Extension), $0.337, and $0.35.

Tezos

Tezos saw a 12.5% price rise this week as the coin reached the $3.20 level. XTZ started the week by trading at $2.80 as it pushed higher into the $3.31 (bearish .786 Fib Retracement) resistance. This resistance also caused trouble for the coin during July as it was rejected here.

It was once again unable to overcome this resistance as the coin headed back into the $3.10 support. It has since bounced higher to trade at $3.20.

Elrond

Elrond may have dropped a small 1.5% over the past 7-days, but it has increased by 11% over the past 24 hours. In fact, over the past month, ERD exploded by a total of 183%. The coin had surged in July to reach as high as $0.033. More specifically, it was unable to close above the resistance at $0.028 (1.618 Fib Extension), which caused it to roll over and close July at $00.21.

In August, ERD did spike lower into $0.018 initially, but it quickly bounced higher and is trading at $0.0235.

Just highlight a overview here. For gathering deep knowledge, follow the link, https://cryptopotato.com/crypto-price-analysis-overview-august-7th-bitcoin-ethereum-ripple-tezos-and-elrond/