Forex. Cryptocurrency trading Forecast for today April 14
Bitcoin (BTC) again strengthened in price and reached the resistance level of $63,000. Ethereum (ETH) rose to the price value of $2,270, and the cost of Ripple (XRP) was already $1.74. The total capitalization of the digital currency market was $2.18 trillion.
On Tuesday, Ethereum once again updated its historical high. Over the past month, the altcoin has risen by 20%. A year ago, the token was trading at $156. Now the capitalization of the cryptocurrency is 260 billion, according to this indicator, it ranks second after bitcoin. The path to the second version of the Ethereum network is a solution that will scale the original blockchain and make it more user-friendly. The main feature of the update is the transition to the Proof-of-Stake consensus, its main feature is that the network no longer needs miners. The efficiency of the blockchain is ensured by the holders of digital coins and they receive a reward for this. This process is called staking. The next hard fork in the framework of the network update called Berlin will be released approximately today. The hard fork will include four proposals to improve the network, two of which are aimed at changing the algorithm for calculating transaction fees. In early April, in just a week, the average transaction fee within the Ethereum network increased by 90% against the background of the growth of altcoin quotes. The Berlin hard fork is aimed at optimizing gas, the internal currency used in the ethereum network to pay commissions.
The XRP quotes also set a new high and exceeded the $1.8 mark for a while. This was preceded by the filing of a petition by the founders of Ripple to dismiss the lawsuit of the US Securities and Exchange Commission. The regulator focused on the actions of the company's management in an amended version of the statement in February and asked six banks for data on the financial transactions of the defendants. According to the lawyers, the SEC did not prove the fact of intentional violation of the law by top managers. The Commission must submit its objections by May 14. After that, the defendants will be able to file a counterclaim until June 4. Recall, on April 11, the court did not see the need to disclose the personal financial statements of the company's executives at the request of the regulator as part of the consideration of the lawsuit against Ripple.
Trade Signals for BTC, ETH and XRP
The trading forecast assumes a further increase in the price of bitcoin to $64,000. Ethereum will rise to $2300, and Ripple - to $1.80.