Forecast for cryptocurrencies BTC, ETH and XRP for today, May 13, 2021
The price of Bitcoin dropped to the level of $54,900. Ethereum is trading around the 4200 mark. XRP fell to the support of $1.4. The total capitalization of the digital currency market was $2.44 trillion.
The capitalization of Ethereum exceeded 500 billion at the rate of $4370. This mark was another historical high. Immediately after that, Ethereum began to adjust downwards. This figure exceeded the exchange value of the payment giant Visa, today its market capitalization is 481 billion Dollars. Ethereum managed to overtake the largest US bank JPMorgan. In comparison with bitcoin, Ethereum took much less time to take such positions. The rapid growth of the coin is facilitated by the expectation of a full-fledged deployment of Ethereum 2.0, which implies a transition from the Proof-of-Work consensus algorithm to Proof-of-Stake. This can further strengthen its position in the market. Cryptocurrency analysts believe that by the end of 2021, Ethereum will be trading in the range of 8,000-10,000 Dollars. Many also believe that this cryptocurrency has every chance to shift Bitcoin to the second place in terms of market capitalization.
Meanwhile, the US stock market regulator warns investors about the risks of buying Bitcoin futures and funds. The agency has issued a warning to users trading Bitcoin futures. The SEC called the first cryptocurrency a highly speculative asset, and also urged users to carefully analyze the financial risks inherent in Bitcoin futures contracts with settlements in fiat currency. Investors are advised to determine the risk profile for the correct allocation of assets in their investment portfolio. According to the Commission, the high volatility of bitcoin and the lack of clear regulation of the cryptocurrency industry create conditions for fraud and manipulation in the cryptocurrency market. The SEC's warning came as major banks began providing their clients with access to Bitcoin and becoming interested in the crypto asset themselves. In addition, the agency will continue to monitor the development of mutual funds that provide access to Bitcoin in order to protect the interests of investors.
Signals for trading cryptocurrencies Bitcoin, Ethereum and XRP
The forecast expects Bitcoin to decline to the price values of 54700, 54500 and 54000 Dollars. Ethereum will continue to adjust to the levels of 4150, 4100 and 4000 Dollars. XRP will decline to the levels of 1.37, 1.35 and 1.30 Dollars.