Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 22

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Market data is provided by the HitBTC exchange.

Analysts believe that the rally in Bitcoin might witness a short-term blip but is likely to resume its up-move and reach $9,659 by year’s end. The reason for the rise can be attributed to various positive developments in the crypto field and also to the ongoing trade war between the top two economies of the world, China and the United States. Digital Currency Group founder Barry Silbert believes that Bitcoin is acting like a safe haven, as it has done in the past during Brexit and Grexit.

The current recovery from the lows was backed by strong institutional flows, as indicated by the record volumes on the Bitcoin derivatives exchanges. Along with the different cryptocurrencies, stablecoins are also being sought by traders. According to crypto research firm Diar, the market capitalization of stablecoins has topped $4 billion. Even with all the controversy surrounding it, Tether continues to be the leader with trading volumes in 2019 already exceeding that of the entirety of 2018.

Early backers of EOS are likely to make huge returns on their initial investments if they sell out in the buyback offer announced by Block.one. The seed round in 2017 had valued the company