Bitcoin Bulls Going Strong Meanwhile IOTA, ICON, & VeChain Driving the Market by Horns
Bitcoin price is holding strong at a higher point i.e. $6,700 while experts share the likeability of Bitcoin hitting a new high soon. Meanwhile, the market is enjoying the greens as IOTA, ICON, and VeChain are making significant gains while sharing multiple developments.
Bitcoin making good gains, experts say a new high is coming
Bitcoin is maintaining a strong stance for the past 3 days as it sticks above the $6,500 level. The world’s number one cryptocurrency has been trading at $6,720 at the time of writing.
If we take a look at the below chart, the opening price of Bitcoin was $6,707. During the day, it touched $6,740 point before sliding down but staying well above $6,700.
Though BTC Dominance is maintaining its stability at $53.3%, its daily trading volume has taken a hit and dropped down to $3.3 billion.
The bulls are going strong for now and according to experts, it is totally possible that Bitcoin will still hit a new high by the end of this year.
Tom Lee, the co-founder of Fundstrat Global Advisor, has always been favorable to Bitcoin and reaffirmed his faith in the leading cryptocurrency this time as well. He says Bitcoin will hit the record high of $20,000 by this year end.
Another addition to people still Bullish on Bitcoin is Bobby Lee, the co-founder, and CEO of Bitcoin exchange BTCC who is expecting it to hit $60,000. Lee’s Tweet reads:
“When #Bitcoin passes the USD $60,000 price level in the coming years, it‘ll reach a total circulation value of $1 Trillion. That will be a huge #milestone for $BTC, and it‘ll lead to more price stability, higher global liquidity, and even faster adoption worldwide.”
While another expert Anthony Pompliano says we just might have to wait till 2023 before Bitcoin hits a new high. But it is a possibility, Bitcoin will first drop to $3,000 before going on a bull rally.
Meanwhile, altcoins are rocking as well!
Bitcoin bulls have propelled the altcoins’ price forward as well. A small fraction of the crypto market is in the red including cryptos like Nano (NANO), Ethereum Classic (ETC), Augur (REP, and Waves (WAVES) among others.
The top cryptocurrencies are registering decent enough gains between the range of 1 and 5 percent. However, a few are creating buzz with their price movement and project developments.
IOTA [MIOTA] making big moves
The world’s 10th largest cryptocurrency has made a number of announcements in the past few days. IOTA released the beta version of its Trinity wallet for the desktop while the head of the blockchain at Volkswagen confirmed that IOTA based CarPass will be launched in early 2019.
Moreover, in partnership with Fujitsu, they are introducing a Proof of Concept for the manufacturing industry. When it comes to price, it is currently sitting at $0.614 with 14.58% gains.
Also, read: Crypto Success: This is how Heightened Crypto Awareness and Adoption Looks Like
VeChain [VET] on an extended rise
The world’s 18th largest cryptocurrency VET is exchanging hands at $0.0169 with a rise of over 11 percent.
Recently, it shared another development,
We are excited to witness the first ecosystem token – OCE is now minted on the VeChainThor blockchain! The power of VeChainThor is only just starting to show. https://t.co/UVWFovqmTI
— VeChain Foundation (@vechainofficial) August 20, 2018
ICON [ICX] makes a jump
ICON is seeing a massive jump in its prices as its technology partner, ICONLOOP got selected for country’s “Cultivating Innovative Youth Talents 2018,” supervised by the Korean government. Also, as pointed by Joseph Young,
Many people asked my thoughts on ICON, biggest Korea-based blockchain project.
What I’m optimistic about:
1. ICON team buying $5 mil worth of their own tokens to show confidence
2. Partnership with the country’s largest insurance firm.Disclaimer: I don’t hold any tokens atm.
— Joseph Young (@iamjosephyoung) August 26, 2018
At the time of writing, ICX has been at $0.89. The cryptocurrency has been actually on an upward curve since last four days.
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