December 10, 2019

Bitcoin Vs Ethereum Price Analysis: Market Action is Flat, A New Microsecond Latency Exchange is Launched

Meta Data: The short-term trend in Bitcoin, as well as Ethereum, is bearish. And staying away from trading in the short term is the right choice.

Blockchain.com, one of the biggest crypto trading platforms, recently launched a new crypto exchange called The Pit. The USP of the Pit is its microsecond-latency i.e. and complete any transaction in a few microseconds. The firm announced its launch in more than 240 markets all over the world.

Current Statistics (On July 30 at UTC 12:21):

Parameters Ethereum (ETH) Bitcoin (BTC)
Price (USD) 209.45 9560.6
ROI 7,297.32% 6,955.43%
Market Rank 2nd 1st
Market Cap 22,436,180,166 USD 170,367,144,190 USD
24-hrs Volume 5,533,630,658 USD 13,502,301,330 USD
Circulating Supply 107,112,303 ETH 17,846,962 BTC
Price in BTC 0.02196933 NA

Comparison:

On July 05, Bitcoin was trading around 11120 USD while Ethereum was valued at 287.59. However, both the cryptos have declined heavily over a period of 25-days. While Bitcoin stooped by a substantial margin of 14.02, Ethereum made a dip of 27.17. Nevertheless, in the weekly trading, both of the cryptos made a stable movement. In the last 7-days of trading, Bitcoin made a flat movement but declined slightly by 1.52% from 9736.75 USD on July 24. In the same time period, Ethereum strengthened by a small margin of 1.92% from the trading price of 205.99 USD.

Prediction:

The stable movement in cryptos has persisted for a couple of days now. Further, Bitcoin, as well as Ethereum, are expected to go up from here. As far as our analysis, Bitcoin might trade around $15k by the end of the year. Similarly, Ethereum is expected to trade around 500 USD in the same period.

Conclusion:

At current levels, short term trading in both the cryptos is a risky game and should be avoided. However, the long term in altcoins is bullish. The launch of the new exchange by bitcoin.com will surely benefit the crypto space as the latency of any transaction is a major concern while dealing in cryptocurrencies.

Betty Keene

Betty Keene is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and Cryptocurrencies in late 2017, she recently joined our growing team as a writer.

Read Previous

Bitcoin Vs Ethereum Price Analysis: Amidst the Bearish Market Trend, Cryptos Show a Bit of Stability

Read Next

Bitcoin Vs Ethereum Price Analysis: Bearish Trend Persist, FM of India Spoke on the Controversy Around the Cryptos

Leave a Reply

Your email address will not be published. Required fields are marked *