Bitcoin, Ethereum & EOS – In general, negative news historically lead Bitcoin to sink its price. However, this time it has not been like that. Currently Bitcoin (BTC), in the last five months, has moved from less than four thousand to almost seven thousand dollars, the highest increase in 8 months. And these does not apply BTC alone, but also ETH and EOS. They are the leaders of the current crypto bull, with a leading net inflow capital of more than $600 million in the last ten hours, as we can see in the monitoring of Coinness.
As we can see, Bitcoin maintains not only the domain of the market, but also represents the largest amount of net capital contribution to the ecosystem today, with almost $ 280 million in the last ten hours, with a 9.9% contribution.
According to CoinMarketCap.com, the leading cryptocurrency maintains a domain of 57.7% at the time of writing. This present a slight drop of about 0.03% in the last few hours after having been in similar numbers of December 2018 domain in 58%.
Its price at the time of writing is $ 6946.50 per unit and has already touched the threshold of seven thousand dollars, the highest value for Bitcoin in the last eight months. In proportion to its price, its market capitalization has grown to 122 billion dollars currently.
A large part of the $ 280 million that Bitcoin (BTC) has contributed to the ecosystem in the last few hours is due to the XBT/USD derivative pair on BitMex exchange. XBT/USD on the exchange presents a percentage of 19.87% of that volume in the few last hours, and this is equivalent to over 55 million dollars.
In addition, Bitcoin currently has another important metric that is reflected in the market domain and the maximum contribution of capital to the ecosystem. It is precisely the highest hash rate in a long time, approaching the highest historically level for the cryptocurrency.
Currently it is presenting 50 exahashes per second, not far from the historical maximum of 55 EH / s that it reached for the first time in October 2018.
That suggests that confidence is seemingly returning, with mining now back almost to the benefit as Bitcoin moves towards reduction (halving).
Also, the pattern of Bitcoin (BTC) is similar to the last registered crypto bull run, even though it is far from its registered value, it would not be unreasonable to think that if we follow this behavior and before the maximum adoption we are registering, we could have new historical values for the ecosystem’s leading cryptocurrency before the next halving, .
The staging of Fidelity, Facebook Coin, a possible green light from the SEC to the Bitcoin ETFs and the green light to the new stock exchange of Silicon Valley, LTSE; as well as the adoption that Elons Musk is giving by promoting cryptocurrencies, are external factors that are also helping this bullish sentiment of the cryptocurrencies in general.
Fidelity will begin helping institutional clients buy and sell Bitcoin in the coming weeks.
Eventually every financial services company will do this.
If Bitcoin achieved $100+ billion market cap without institutional interest, imagine what happens when the smart money joins.
— Pomp 🌪 (@APompliano) May 6, 2019
Ethereum and EOS Price Prediction
On the other hand, Ethereum and EOS have not been left behind. Both projects are shipped together with Bitcoin in an amazing rally which is expected as the interest in cryptos from institutional investors and large corporations surges.
The reason is simple. Both platforms represent the largest proven capacity for the development of decentralized applications (Dapps) and Smart Contracts of the ecosystem. On the one hand, Vitalik Buterin’s cryptocurrency has been working on solving its scalability problems and therefore has aroused the interest of many developers to turn to the platform again, coupled with the problems that recently faced Tron with Tether and Bitfinex.
Also, it was recently revealed that 50% of world’s top billion dollars companies are using Ethereum blockchain
At the time of writing ETH is quoted at a spot price of $ 196.02 with a boost of up to 12.10% in the last 24 hours, which led to catapulting its capitalization market by just over $ 20 billion.
It is worth noting that an important part of the market share of ETH comes from mining transactions, which means that in the interest of the take-off of crypto market prices, much interest has resurfaced in the miners who had their machines turned off due to non-profitability and before the FOMO that can generate a fulfillment of prices at new historical levels for the cryptos in general.
EOS Price Prediction
Last but not the least, EOS, is in the top three of the crytpos that have given more to the market in the last hours.
And there is a fundamental reason why this particular project has generated so much interest and volume in the last few hours: the anchors of the Switcheo team to launch the ECH blockchain by mid-May.
We are pleased to announce that we will be launching on the #EOS blockchain very soon.
Find out how you can participate in our invite-only beta, and be one of the first to experience the new EOS DEX!
— Switcheo (@SwitcheoNetwork) May 10, 2019
As a result, the EOS price has skyrocketed by 15.03% and has catapulted to the spot price of $ 5.57 per unit, with a market capitalization of just over $ 5 billion dollars that keeps it in the position number six of the general ranking.
Due to the increase in the price of BTC and ETH, EOS has also been directly influenced in its growth both in volume of contribution to the market and in its prices.
EOS represents the greatest capacity of TPS for Dapps within the top ten domain of the market, so if the theory of adoption is pushing prices, logically it will be necessary for many companies to use the platform of EOS as its offers great speed that attracts more general use cases.