Amid stagnation and a slight drop in the price of bitcoin, traders note a decrease in BTC dominance and an increase in altcoins. This week, between September 15 and 19, the Ethereum price soared by 20%, and the Stellar price rose by 40%. By the moment, their price has adjusted, but still, such a tendency in altcoins is a good signal for the entire cryptocurrency market, because in 2019 altcoins rarely please us with such an increase. We’ve prepared for you most popular trading ideas from traders on TradingView.
Bitcoin
As for the price of bitcoin, most traders consider the fall of its price below $ 10,000 a temporary phenomenon and predict the cryptocurrency price increase. They believe that the bitcoin price chart is in a triangle since June this year, and will continue balancing in this triangle. Further, we should expect a triangle to break up and a new bull trend, although there is little chance that the price will go down.
There is also a variation of this forecast: a false breakdown of the triangle, and then Bitcoin will find strong resistance at the level of $8,500 from which a new bull trend will go up to price levels of $12,000-14,000 and higher. So, maybe be the safest way to earn here is to buy BTC after a triangle break up at the $10,500 level. You can easily do it on Token Place, which has convenient trading terminal for such cases.
Altcoins
The second important idea that traders are writing about is the ongoing increase in the price of altcoins. Indeed, the growth of altcoins after the rise in the price of bitcoin is a fairly stable pattern for all previous phases of the development of the crypto market, which should not be underestimated. For example, Litecoin is now also in a triangle since August, and if its price rises above $86, this triangle will break through upwards.Some traders believe that the growth of altcoins will continue after Bitcoin reaches new heights, while others believe that this can happen long time before. There is a recommendation to keep your positions in Ethereum, moving averages indicate a possible continuation of the growth of the second cryptocurrency, at least if you entered a position, then do not quit it while the price is at $200 or higher.
Many traders recommend investing in Ripple, despite the negative news related to the lawsuit of Bradley Sostek against Ripple. Indeed, at the moment, XRP both in the short-term (since September 11 of this year) and in the long-term perspectives (since the fall of 2018) is in the shape of a triangle, and its price is at a very low level. That is why there’s a high possibility of breaking Ripple’s triangle upwards and its rally. Sign up your Token Place account and don’t miss an opportunity to buy XRP in the beginning of the rally.
Special recommendation
In the medium term, we can expect the growth of the TON cryptocurrency after the launch of the main blockchain network of the platform. The head of the Galaxy Digital cryptocurrency bank Mike Novogratz regrets that he did not invest in the Telegram Open Network (TON) project on time. At the same time, it is known that Coinbase can add this token to its list. Maybe it will be a good idea to buy GRAM’s derivative on the exchange Xena, in anticipation of the main network, which will take place before 31 Oct. this year. After major exchanges’ll add GRAM, you can buy it on Token Place by the best price.
