Bitcoin (BTC) Prices Under Pressure as Travala (AVA) Shots by Over 400% in 10 Days, Will ETH 2.0 Launch on Time?
- Bitcoin (BTC) prices fell from May 20 highs following fears of a “Satoshi” dump
- Vitalik defends Ethereum despite uncertainty on whether Beacon Chain will launch on time
- Litecoin partnered with Atari Group
- Travala (AVA) rallies after partnering with Binance-backed TravelByBit.
Bitcoin, Ethereum, Litecoin, and Travala Market Roundup
Bitcoin continues to dominate proceedings. Sparked by speculations that the mysterious Satoshi Nakamoto was behind the transfer of 40 BTC mined on February 9, 2020 on Wednesday May 20, 2020, BTC prices fell erasing Asian Session gains.
Doubts have been cleared following analysts’ analysis of the block’s nonce pattern.
Still, the trading community is confident of a recovery as the Stock-to-Flow (S2F) price forecast model predicts BTC to rally past $100,000 in the coming years.
At the time of going to press, BTC was changing hands at $9,308 as its dominance stood at 66.5 percent.
Ether (ETH) price is stable above $200. However, there are concerns that the mainnet of Beacon Chain of ETH 2.0 may not launch in July 2020 as expected. Vitalik and the Ethereum Foundation have been accused of shifting their narrative, a claim Buterin says is false.
In a tweet, he said their focus is to remain “pluralist” by betting on more than one on-chain application to succeed. The successful transition from ETH 1.0 to ETH 2.0 (also known as Serenity) will be a massive boost for ETH prices.
The partnership between Atari Group and Litecoin announced on May 19, 2020 has not been impactful on price as expected. Atari is a US-video-game company and is planning for a token sale in September. LTC will be used across Atari’s ecosystem as a medium of exchange specifically once Atari’s video-game consoles are released.
Travala token (AVA) is one of the top performers this week. The token has risen by over 400% in 10 days following rumors that Binance might have acquired by the platform.
On May 20, Travala announced its merger with Binance-backed TravelByBit. AVA is supported by KuCoin and Poloniex cryptocurrency exchanges.
Bitcoin (BTC) Price Analysis
Trading at $9,185 according to data streams from Coinbase, BTC remains in range mode against the greenback. Volumes remain low and the BTC price is down six percent on the last day.
Immediate resistance is at $10,500, or Feb 2020 highs. Any break above this level and BTC may rally to $13,800. This is June 2019 highs.
Relative to the upper Bollinger Band, a technical indicator, prices are trending lower. A comprehensive break below the middle BB (the 20-day moving average) could spark further losses to $8,500. The 20-day moving average is the immediate support line.
Disclosure: This is not trading or investment advice but the opinions of the author. Do your due diligence.