FXEMPIRE
All

Bitcoin And Ethereum Price Forecast – BTC & ETH Continue To Trade Positive Ahead of Year End Holiday Season

Santa rally adds billions to crypto currency market bringing more investors into fold ahead of holiday season on hopes of cashing in on year end rally.
Colin First
Bitcoin and Taxes: What You May Not Know

Cryptocurrency market had a really good week as the overwhelming majority of top-10 digital assets managed to recover from this year lows. The total value of coins in circulation has reached $142 billion, which is about $40 billion higher than a week ago. Bitcoin hovers under $4,200 after a short-lived ride to $4,234 during early Asian hours. The digital coin No.1 has been growing strongly on Monday amid thin market conditions. The market sentiments improved significantly during the previous week, allowing the market to enjoy its Santa’s rally. A strong positive momentum improved forecasts, though some experts stay cautious.

Santa Rally Continues To Add Billions To Bitcoin & Altcoins Ahead of Holiday Season

This year has seen significant development surrounding cryptocurrencies both in the trading market and real-time usage of cryptocurrencies. While several countries continue to ban the use of bitcoin and the likes, many governments and government organizations have begun to see cryptocurrencies as valid financial instruments and began accepting payments via bitcoins which are a great improvement from a fundamental perspective. The slide this year was caused by hard fork battles which were a major disaster for cryptocurrencies, however, institutional investors are beginning to focus attention on cryptocurrency investments which are expected to boost bitcoin value in early 2019.

Ethereum is one of the best performing digital assets out of top-20. The coin gained 17% in recent 24 hours to trade above critical $150.00 handle. Ethereum’s market value surpassed $15.5B, though it is still in the third place, below BTC and XRP. The average trading volumes spiked to $4B during early Asian hours, while the most active trading is taking place at Bitfinex. On the daily chart, ETH/USD broke above DMA50 since the beginning of November.

The breakthrough increased the upside momentum on a thin holiday market, allowing the price to move towards the intraday high at $154.15. The coin retraced to $146.37 by the time of writing, but the short-term trend remains positive as long as the price stays above $136.86 (the above-said DMA50).

 

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US