Bitcoin moves towards $ 8,000, good forecasts for Ripple (XRP) and Ethereum (ETH)

The price of Bitcoin has recovered almost $ 400 in today’s trading session, going from about $ 6,300 to $ 6,680 in just a couple of hours, a bullish strength signal, at the moment it seems that the positive trend is still going on. This increase of about 4 percentage points has led to purchases on all the major cryptocurrencies that today are moving up sharply.

Despite the downward trend in the cryptocurrency markets that began in January 2018, the price of Bitcoin has never fallen below $ 5,000 and, in the second half of the year, it will be very likely to again witness a significant increase in the price. The next major resistance in the 6.850 area, if exceeded could bring the price of Bitcoin to $ 8,000.

The London daily Financial News, citing two anonymous sources, reported that BlackRock has formed a team of experts to investigate on cryptocurrencies and blockchain, the technology that supports them.

According to one of the sources, the asset management giant would be interested in investing in bitcoin futures. The sources also said that the BlackRock working group will keep an eye on what its competitors are doing about cryptocurrencies and blockchains.

The news follows a Fortune magazine report that Steve Cohen’s billionaire venture Cohen Private Ventures invested in Autonomous Partners, an investment fund focused on cryptocurrency.

The increase in the price of Bitcoins led to purchases on all major cryptocurrencies, including Ripple (XRP) and Ethereum (ETH), which rose by 4% and 6% respectively, moving away from the supports.

The price of XRP of Ripple currently seems quite low at $ 0.46, according to some forecasts XRP is seen at 1 dollar in the short term and 3 dollars in 2019. XRP has reached over 3 dollars at the beginning of January 2018 before the downward trend in the markets, while, as regards Ethereum, the price of $ 1,000 seems quite likely by the end of the year, also in view of a Bitcoin appreciation.

About Paolo Cianfriglia 28 Articles
Paolo is a financial analyst who likes to analyze and write about financial markets, especially abuot the fast-growing cryptocurrency markets. He writes for several websites and corporate blogs and at the same time offers advice to investors who are not yet familiar with the dangers related to the digital currency markets. Strongly motivated by the interest in blockchain technology, he loves sharing the news of the sector. Email Address: paoloweb@altcoinews.it

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