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Analysis

Novogratz Called For A Bottom On Crypto: ‘Big Rally Is Ahead Of Us’

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Over the past two days, the cryptocurrency news are quite positive – and the market has added a couple of billions in its total cap. On top of that, Ethereum saw a 25% growth and proved that the all-time 2018 low is behind it, followed by Bitcoin which is now closer to the $6,500 market cap.

Mike Novogratz, who is one of the Bitcoin bulls and a former Wall Street guru-turned-crypto manager, recently activated his Twitter profile to issue one important message regarding his throughs on the recent movements on the market.

Novogratz pointed to the USD-based index that he founded along with Bloomberg – as a tool that would track the performance of the crypto assets. Citing the index, Novogratz wrote the following.

The Galaxy Digital CEO with this is calling back to the performance of the BGCI in mid-2017 and points out that the market has now retraced to pre-bull run levels. With this, he signals that a new growth may be on the horizon.

Novogratz’s post gained traction in the cryptosphere – and hundreds of investors commented on his analysis – creating a melting pot of conflicting ideas, opinions and sentiments.

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Altcoin News

What Made The Price Of Ripple (XRP) To Rise Up To 100% In A Week?

Ripple was in almost every post in past week's crypto news, mostly because of its meteoric rise which pushed the cryptocurrency up 100% in only a week. The supernormal rally even put Ripple to the second position, overcoming Ethereum and its silver spot for a matter of hours.If we take in the numbers between the minimum and maximum price of Ripple, the difference is around $19.8 billion - showing that Ripple surged by 184% before the price got corrected. However, the market cap of Ripple went above the market cap of Ethereum and XRP was for a short time the new silver to Bitcoin's gold.However, the main question that everyone has right now is the following...How the altcoin Ripple (XRP) managed to double its price in less than a week?The first factor is obviously the launch of the xRapid solution, which came after long anticipation and was meant for a commercial launch as soon as next month. The payment service allows financial institutions to use the XRP tokens for conducting cross-border transactions.The second factor was the announcement from Coil and PNC. According to it, XRP has linked with the biggest names in the online world such as Wikipedia, Twitch, YouTube and other, with an aim to reward their users directly in XRP.The final factor, according to us, was the fear of missing out (FOMO) which catapulted Ripple's price - solely because everyone believed that 'now is the right time to invest in XRP'. This is what finalized the bullish transformation and pushed Ripple up. 
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Altcoin News

Bitcoin (BTC) Price Moves Closer To $7,000, Stellar (XLM) With A New Meteoric Rise

In the Sunday edition of our cryptocurrency expert analysis right here on DC Forecasts, we are seeing a lot of green on the crypto market, which is perfect considering the negative movement last week.Today, the altcoin which is in the spotlight is Stellar (XLM), which skyrocketed by 25% and reached a price of $0.297, securing the fifth position on the largest cryptocurrencies by market cap.Bitcoin, on the other hand, has established a short-term bullish trend for its continuous, yet slow rise over the past few days. The biggest cryptocurrency by market cap is now trading at $6,757 with no signs of stopping the slow-yet-bullish momentum.Among other altcoins which surged over the past few days are Ethereum, Ripple, Bitcoin Cash, Litecoin and Cardano - all of which rising in terms of their value.From the $6,110 support area which was initiated last week, Bitcoin is now with around $700 in the green, trading higher and breaking new margins every new day. However, a change of this scenario is still realistic, considering the low market volatility over the past month. 
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Analysis

Novogratz Called A Bottom On Bitcoin: “It’s Now Impossible Not To Hit $10k By 2019”

In the latest cryptocurrency expert analysis, we have the long-time Bitcoin bull, Mike Novogratz, who was recently a guest on the CNBC Fast Money show, where he once again remained optimistic about the largest cryptocurrency - Bitcoin - and its future.However, it is weird not to mention the fact that Novogratz is always shifting his attitude and opinions by lowering the price margin which he sees as 'realistic price points' for BTC in a certain timeframe.In the latest episode of the CNBC Fast Money show, Novogratz said that a 30% rally by the end of the year is quite realistic. According to him, Bitcoin is at its bottom right now and should only grow as the end of the year approaches.https://www.youtube.com/watch?v=6lC1anDg2KUThe former hedge fund manager also explained that he makes his forecasts solely by reading technical indicators - particularly this one about Bitcoin being at 'it's bottom' and the probability of it to rise up to $10k by the end of the year.Novogratz also explained that there has been a significant amount of closed-door deals, such as Telegram's $1.7 billion private ICO which alludes to the fact that institutions are entering the crypto markets - even though they are doing this quietly.As he stated:
“It’s also a bull market in institutions building the infrastructure needed for real money investors to start investing in this space… I think that in three to six months from now, there will be an “all clear” sign for people — big institutions and pension [funds] — to start investing.”
To sum up his guest appearance on CNBC, Novogratz referenced a tweet he made in early August in which he explained that Bitcoin will likely outperform altcoins for the time being - as institutions are still 'in love' with the flagship cryptocurrency. This is why "Bitcoin is the easiest crypto asset to scale into," according to Novogratz.
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Altcoin News

BREAKING: Ripple (XRP) Surges 44% In One Day, Adding $2 Billion To The Table

Over the past 24 hours, there is a lot of green and positive movements in the latest cryptocurrency news. And while Bitcoin remains stable in the $6,600 region after it recorded a solid growth, Ethereum follows at $225. However, one of the most shocking surges was the one recorded by XRP, the token of the native cryptocurrency Ripple.With a rise of 44,73%, Ripple is now standing at $0.471, which is almost a double from its price a couple of days ago. According to analysts, this abrupt increase in the price of Ripple was not triggered by a specific series of events.Rather, XRP rose because of the oversold conditions throughout July and August. Even though the price of Ripple was around $0.54 on June 21st, it dropped to $0.29 within two months, by a rough 46%.It now seems that XRP is regaining its power. The social media activity judging by the keywords XRP and Ripple also increased, possibly because of Ripple's announcement of a new cryptocurrency product by October this year.However, we can also say that RippleNet, the blockchain platform behind Ripple, is taking over the crypto news lately. With big clients such as banks, it is stealing the show and establishing a solid presence for itself online.All of these combinations led to Ripple stabilizing and coming closer to the $0.5 mark, just like Bitcoin and the much-needed $7,000 price breakout.
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