Caleb and Brown Top Cryptocurrencies of the Week - 20 Nov 2018

This weeks Top Cryptocurrencies of the Week is brought you to by Caleb and Brown an award-winning digital currency exchange registered with AUSTRAC. Founded in 2016 with a vision to become the conduit between cryptocurrency and the financial services industry. Caleb and Brown was named FinTech start-up of the year at the Stockbroker and Financial Advisors Association (SAFAA) conference 2018.

Week: 20th Nov 2018

1. Bitcoin Analysis

Bitcoin: $4780 (As at 20 Nov 2018)

Early this week, Bitcoin’s dramatic fall past the USD $6000 support placed the price in a high-risk environment. With the next significant support nowhere to be seen until USD $4000, a second drop took the price below the previous USD $5000 resistance in September 2017.

Bitfinex long positions are finally sustaining greater volume than short positions since August, so while the sentiment in margin trading is bullish at depressed prices, there is no potential for a short squeeze due to the low short volume.

2. Crypto in the News

Bitcoin Cash and its hard fork have been taking over the spotlight throughout the past week.Hard forks are a standard procedure as part of the the Bitcoin Cash protocol. They arenecessary to implement newest updates and usually occur seamlessly twice a year.

However, disagreements in the Bitcoin Cash community have been building and finally divided the community to the point that a consensus could established. On November 15, the chain was split into two rivalling cryptocurrencies - Bitcoin CashSV and Bitcoin Cash ABC. Both camps are currently competing over creating the dominantchain and are largely mining at a loss. The split in the chain has undoubtedly taken a toll onthe community and the future of Bitcoin Cash is still uncertain.

3. Caleb and Brown’s Most TradedCoin ofthe Week

Many of Caleb and Brown’s clients saw the new yearly low as an opportunity to increasetheir Bitcoin holdings. For that reason, Bitcoin was one of the most traded cryptocurrencies throughout the past week.

Apart from Bitcoin, a few lower market cap coins also gained popularity throughout the pastweek, two of those being:

Veritatseum (VERI) - A gateway to peer-to-peer capital markets.

PayPie (PPP) - PayPie helps businesses sustain their cash flow through affordable business financing, insightful analytics and risk scoring.

4. Best Performer of the Week

XRP was one of the only cryptocurrencies that held up comparably well during the Bitcoinprice decrease last week. The cryptocurrency managed to overtake Ethereum and is nowranked the second largest cryptocurrency by market capitalisation.

According to a Bloomberg article on November 14, CEO of Ripple Labs INC, Brad Garlinghouse,sees potential for Ripple to take over SWIFT, the global network for interbank transfers. According to the CEO, Ripple’s technology“…is gaining new customers because financial firms are seeking faster, more up-to-datetechnology than the SWIFT banking network”.

Ardent XRP believers are now claiming that the currency is on its way to overthrow BTCnext. Whilst this is very much ambitious as well as unlikely we have to give credit wherecredit is due, and XRP has been performing very well throughout the past week consideringmarket conditions.

5. Caleb and Brown’s Pick of the Week

Ripple (XRP) - $0.48 (as at 20 Nov 2018)

In a sea of red this week, XRP manages to survive the 30% market-wide drop, losing only 7%. While the market is still at risk of continuing to fall, it appears the value of XRP is starting to decouple from the rest of the cryptocurrency market.

While the international transfer volume transacted through XRP is likely not substantial enough just yet, this correction could be demonstrating the market's positive perception of utility for XRP