Coins to Watch May 07 – May 13, 2018
Coins to Watch May 07 – May 13, 2018

Bitcoin (BTC)

Bitcoin is set to hit $10,000 for the first time since late November and much is expected from BTC once it breaks that barrier once again. After reaching $10,000 on November 28, the price dipped briefly before running up to in price to over $17,000 on December 7. The next few weeks could see a similar price action as a number of sell orders could be triggered at $10,000. However, once this barrier is broken, there is little to hold the price back and a natural increase in exuberance could see the price of Bitcoin increase rapidly to around $15,000.

With the Consensus blockchain summit taking place on May 14 to 16 in New York, there is expected to be an increase in market activity once the summit comes to an end and Bitcoin is well positioned to benefit from any positive sentiment that develops from the conference. For traders who are bullish on the future of BTC, the next few weeks may also present a good opportunity to pick up Bitcoin at a good value as the G20 are set to confirm their plans for cryptocurrency regulations next month. If there are no commitments to the strict policing of cryptocurrencies, then the price of Bitcoin could go on a prolonged bull run.

0x (ZRX)

0x (ZRX) is a token trading platform that incorporates its own native ERC-20 token. 0x is intended as a means of trading tokens and other digital assets on the Ethereum blockchain, and the platform’s decentralized design facilitates p2p trading and eliminates the need for a third party exchange. Various projects are currently utilizing the 0x framework including Radar Relay, Paradex, and Ethfinex.

The developers of 0x have described it as “an open and non-rent seeking protocol”, and 0x can facilitate the trustless exchange of Ethereum assets and apps can also be built on top of the 0x protocol. Rumors continue to persist that 0x will be one of the first coins to be chosen in the first round of ERC-20 tokens to be added to Coinbase and the two entities have team members who have experience of working for both companies. The price of ZRX jumped from $1.12 to over $1.70 this week, and as Coinbase is presenting at the Consensus blockchain summit next week, any announcement from the team will result in a significant price surge in the short term.

Source: Coincodex

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