• The article discusses the top 10 cryptocurrencies that have the potential to ignite the global crypto market in August 2023.
• Bitcoin (BTC) and Ethereum (ETH) are two of the most popular and valuable digital assets according to market capitalization.
• XRP (XRP) has also shown strong growth following Ripple’s partial victory against the SEC.
In today’s fast-paced and ever-evolving world of finance, cryptocurrencies have emerged as a revolutionary force, captivating the imagination of investors and tech enthusiasts alike. Among the multitude of digital assets, several cryptocurrencies have been making waves in the market, especially during challenging moments. Let’s dive into the captivating world of cryptocurrency to explore the top 10 cryptocurrencies that have the potential to ignite the global crypto market in August 2023 and unravel its underlying trends.
Bitcoin (BTC), created by Satoshi Nakamoto in 2009 is considered as one of oldest gem in this market. In Jan 2017, one Bitcoin was about $1014 which has grown more than 3000% now trading at $29,274 with a market cap of $569 billion accounting for 48.2% of total cryptocurrency market share. The BTC daily price chart indicates that current price action has dropped below short-term 50-day exponential moving average (50 EMA). If BTC crosses its resitance level of $29947 it may reach $30,374 soon.
Ethereum (ETH), is another smart network and second largest cryptocurrency by market capitalization after Bitcoin . In February 2017, one ETH was worth around $10 but now trades at around $1,871 with a daily chart indicating an attempt to enter correlation near short-term 50 EMA currently stands at $1,873 along with RSI near neutral zone(at 48). If ETH crosses resistance level of $1,917 it may reach upto$ 2018 soon.
Ripple’s XRP token has also gained traction amongst investors as it showed considerable growth following Ripple’s partial victory against US Securities Exchange Commission(SEC). Currently trading at around 0.7087 with daily chart indicating an attempt for correlation near short-term 50 EMA currently standing at 0.7095 along with RSI near neutral zone(at 48). If XRP crosses resistance level of 0.7165 it may reach upto 0.7329 soon.
Cryptocurrencies continue to be a revolutionary force due their decentralized nature which gives users greater control over their finances without relying on intermediaries like banks or governments . These are some Top 10 Cryptocurrencies To Buy in August 2023 which can provide great returns if invested properly with detailed analysis & research done beforehand .