Bitcoin(BTC),Ethereum(ETH),Ripple(XRP) Slow Downfall - #3 Cryptocurrency Analysis Dec. 4
After rough weeks we can see a slight stable market today as of this hour with up to 2% losses for the three best cryptocurrencies. Bitcoin is, as yesterday, standing close to the 4,000 USD price and some mining companies are making bold statements even though the market went down 700 billion USD since the start of 2018.
Co-founder and director of Argo, which is a London Stock Exchange listed company under ARGO Blockchain PLC, reports that “Our mining packages are being snapped up as quickly as we make these available and demand continues to exceed supply,". This could be influenced by the Bitcoin Mining Difficulty Drops which we haven’t seen since 2011.
As it can be seen in the chart below, Bitcoin has only a few drops below 4,000 USD in the past 24 hours, a stability influenced by the difficulty drop which makes it easier and more profitable to the miners.
Ripple(XRP) is having, in my opinion, a better time now standing over 0,355 USD with only a 1% drop and there are some saying that it will reach 0,4 USD soon since it hold ground for the longest time in history as the second cryptorrency in the market. As you can see in the chart below Ripple is well above 0,35 USD with a slight increase in current hours.
Ethereum, on the other hand, is heading towards the 100 USD point which makes everyone go crazy. The no-support zone is below 100 and many say that this psychological barrier will be broken. At the moment Ethereum is experiencing a slow downfall being down 1.60% today as you can see in the chart below. We can only wait and see what these future weeks will bring to Ethereum’s value.