Home / Ripple / Bitcoin posted positive earnings in the third quarter, but Ripple won the quarter

Bitcoin posted positive earnings in the third quarter, but Ripple won the quarter

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Can I be the devil's advocate? Well, it is always interesting to observe the contrary thesis. After all, to win the game, you have to think outside the box and filter through the noise.

Bitcoin has recorded two consecutive months of losses. This is not new for Bitcoin owners. However, it's important to keep in mind that sometimes you need to lose some battles to win the war and I think this is exactly what the bulls are thinking right now. In the last two months, the price of Bitcoin has been trading in a narrow range between $ 7820 – $ 5887. Last month's low at $ 6108 was above the August low at $ 5887. This confirms that there is a clear trend. The fact that we are forming a lower level satisfies to a certain extent the definition of an upward trend. According to the technical analysis, the exact definition of an upward trend is a confirmation of higher highs and higher lows. Currently, we have no confirmation of higher highs, as the September high ($ 7405) was lower than the August high of $ 7820.

However, the most important fact is that the closing price of Bitcoin for the third quarter at $ 6.643 was higher than the opening price of the quarter ($ 6.313). This provides a very clear indication that the price may have lost some battles, but won the war in the third quarter. The quarterly earnings of 3.34% for Bitcoin could have been much more significant, but only if the fundamentals were more favorable. The approval of the Bitcoin ETF, for example, would have been a key event in favor of & nbsp; its price.

A general view of the atmosphere seen at the Twentieth Century Fox Premiere of "The Longest Ride" held at the TCL Chinese Theater on Monday, April 6, 2015, in Hollywood. (Photo by Eric Charbonneau / Invision for Twentieth Century Fox / AP images)

But today is not the day to talk about Bitcoin alone. We started the fourth quarter and it is important to see how the overall performance was for the top five coins by market capitalization. If we compare their performance in Q2 and Q3, it becomes obvious that Ripple is the clear winner. In fact, the currency is largely responsible for pulling the weight of the entire industry during the month of September. & nbsp; Among the top five classified by market capitalization in the second quarter, Ethereum recorded the worst result in the third quarter, down by almost 48.85%.

Q3 yield of the first 5 coins by market capitalization in the second quarterData source: ThinkMarkets, Twitter: @ NaeemAslam23

The most significant event of the crypto-markets in the third quarter was Ripple taking the second position in terms of market capitalization, even if it was short-lived. But what is not short-lived is the fact that the classic of Ethereum has moved from the top five coins in the ranking of the markets. Which currency has taken its place? Yes, you guessed it correctly. It is EOS. His community is gaining a lot of momentum, which is why it has moved to the top five coins by market capitalization. Having said that, it is worth noting that the quarterly trend of the currency was disappointing, down by almost -29.82% in the third quarter.

First five coins by market capitalization from October 1, 2018Source: ThinkMarkets, Twitter: NaeemAslam23

If we compare the performance of the third quarter with the second quarter, it becomes clearer that EOS has become stronger. But, among the top 4 coins by market capitalization, it is still the Ripple team that has worked hard in silence and their success is making noise.

Cryptocurrency performance in Q3 compared to Q2Source: ThinkMarkets, Twitter: @ NaeemAslam23

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Can I be the devil's advocate? Well, it is always interesting to observe the contrary thesis. After all, to win the game, you have to think outside the box and filter through the noise.

Bitcoin has recorded two consecutive months of losses. This is not new for Bitcoin owners. However, it's important to keep in mind that sometimes you need to lose some battles to win the war and I think this is exactly what the bulls are thinking right now. In the last two months, the price of Bitcoin has been trading in a narrow range between $ 7820 – $ 5887. Last month's low at $ 6108 was above the August low at $ 5887. This confirms that there is a clear trend. The fact that we are forming a lower level satisfies to a certain extent the definition of an upward trend. According to the technical analysis, the exact definition of an upward trend is a confirmation of higher highs and higher lows. Currently, we have no confirmation of higher highs, as the September high ($ 7405) was lower than the August high of $ 7820.

However, the most important fact is that the closing price of Bitcoin for the third quarter at $ 6.643 was higher than the opening price of the quarter ($ 6.313). This provides a very clear indication that the price may have lost some battles, but won the war in the third quarter. The quarterly earnings of 3.34% for Bitcoin could have been much more significant, but only if the fundamentals were more favorable. The approval of the Bitcoin ETF, for example, would have been a key event in favor of its price.

A general view of the atmosphere seen at the Twentieth Century Fox Premiere of "The Longest Ride" held at the TCL Chinese Theater on Monday 6 April 2015, in Hollywood. (Photo by Eric Charbonneau / Invision for Twentieth Century Fox / AP images)

But today is not the day to talk about Bitcoin alone. We started the fourth quarter and it is important to see how the overall performance was for the top five coins by market capitalization. If we compare their performance in Q2 and Q3, it becomes obvious that Ripple is the clear winner. In fact, the currency is largely responsible for pulling the weight of the entire industry during the month of September. Among the top five classified by market capitalization in the second quarter, Ethereum recorded the worst result in the third quarter, down by almost 48.85%.

Q3 yield of the first 5 coins by market capitalization in the second quarterData source: ThinkMarkets, Twitter: @ NaeemAslam23

The most significant event of the crypto-markets in the third quarter was Ripple which obtained the second position in terms of market capitalization, even if short-lived. But what is not short-lived is the fact that the classic of Ethereum has moved from the top five coins in the ranking of the markets. Which currency has taken its place? Yes, you guessed it correctly. It is EOS. His community is gaining a lot of momentum, which is why it has moved to the top five coins by market capitalization. Having said that, it is worth noting that the quarterly trend of the currency was disappointing, down by almost -29.82% in the third quarter.

First five coins by market capitalization from October 1, 2018Source: ThinkMarkets, Twitter: NaeemAslam23

If we compare the performance of the third quarter with the second quarter, it becomes clearer that EOS has become stronger. But, among the top 4 coins by market capitalization, it is still the Ripple team that has worked hard in silence and their success is making noise.

Cryptocurrency performance in Q3 compared to Q2Source: ThinkMarkets, Twitter: @ NaeemAslam23

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