Coinmarket forecast post China ICO Ban

Coinmarket forecast post China ICO Ban

bitcoin Cryptocurrency
September 7, 2017 by Hitesh Malviya
237
crypto forecast september

After the China announcement on ICO ban, Bitcoin along with few other leading alt-coins dropped in value. That’s made the overall market cap of coins down to 150B$. After a bit of recovery in price, Bitcoin is currently trading at 4548$ and Marketcap is 160B$. Now there’s a lot of speculation among the media, with some people going to the extent of saying that this could be the end of Cryptocurrency.

It would be hard to deny that the ICO ban has impacted the value of cryptocurrency and it has mainly affected day trading and short term trading pretty badly. However, to go as far as saying that this is the beginning of the end of Crypto is a stretch. So we did some market analysis and to alleviate some of your fears, we’ve put out some excerpts from the research as a forecast for the month.

Here is what we can expect in coming days of this month.

  • Bitcoin price will stabilize at around 3900-4200$
  • Coin market cap will settle at 160-170B$
  • Altcoins will start growing, expect them to grow on average 20-30% from its current value.
  • Ethereum will be strong by end of this month, October will witness the growth of ethereum.

Read about: https://itsblockchain.com/2017/08/31/ethereum-metropolis-hardfork-and-introduction-of-proof-of-concept/

  • Growth of NEO will be slower and its price will be settled around 25$ by end of the month.
  • Kin and Kyber ico will emerge as biggest ICO of this month.
  • Altcoins which have upcoming announcements will witness good growth in value.
  • Omisego will be in Top 10 coin list in coming days.

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1 Comment

  • saggzz

    That wont be the last strike against icos and cryptocurrency in gerneral. At the moment, Banks and regular credit companys are quite tame! They will bite soon! Or do anybody believe that there will be a peaceful coexistence of conventional currencies and decentralized currencies??? In Germany for example we had this problems a few years ago with localbitcoins.com. People which were trading with their bankaccounts to localbitcoins got in trouble for money launderring. Nowadays several credit institutes ban their creditcards for using them at trading platforms such es kraken and coinbase for example.
    So what i want to say is, that the developments of the cryptocurrencies at the moment are short term, doesnt mean not to invest. In my opinion the cryptocurrency rates will go down again in the future and maybe really hard, so there are still opportunities for an good investment, just from my point of view.
    Very exciting times at the moment
    by the way, enjoy this site. good information. Thanks so much.

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