Hi everyone. This market update will provide news, analysis and predictions regarding Bitcoin (BTC)'s recent rise and EOS's price explosion. Let's dive in!

Bitcoin Rising

In the past week, BTC has risen by over 18% and is currently trading at about of $6800:

At the current state, we are looking at another all-time high for Bitcoin. There are currently two scenarios that could occur in the near future:

• breaking out of the current range and possibly even exceeding $7000
• or suffering a massive (but temporary) correction

Bitcoin has largely been seen as one of the best investments; it has risen almost 1000% in the past year alone, eclipsing any gains you could make trading stocks or other commodities. With BTC, today's low was yesterday's high; there's no wrong point to buy in.

This all comes as more companies and organizations announce support for Bitcoin. The CME Group just recently announced upcoming futures markets for Bitcoin, providing the boost needed to start this uptrend.

However, with some forks and possible chaos coming soon in mid-November, Bitcoin could face some volatility along the way.

EOS Overnight Explosion

EOS, a cryptocurrency supported by @dan (a Steemit "alumni") recently went through an increase of almost 50% in price:

Currently trading at over $1.10, @eosio's price increase may have been due to @dan's recent developer update. EOS has recently announced that they will be supporting tools such as Apple's Secure Enclave (and similar technologies inside smartphones). Work on the parallel execution engine (multi-threading) has already begun 8 months ahead of schedule.

Unfortunately for holders and traders, EOS has generally been through a rough time in terms of pricing due to their "daily ICO" causing massive inflation. Hopefully this price increase will help other investors regain hope.

I highly recommend stockpiling any cryptocurrency even touched by @dan (Dan Larimer), as @dan helped monumentally in the creation of cryptos like Steem and BitShares and is a very intelligent guy in general.

Crypto Market Conclusions

The Cryptocurrency Market overall is currently at a market cap of over $188 Billion and 24-hour volumes of over $5.6B.

Bitcoin (BTC) has a market cap of over $111 Billion, and a "market dominance" of almost 60% (the percentage of the market represented by BTC). In the Altcoin market, currently only a few altcoins are growing, though those few are growing by impressive amounts.

The chaos surrounding November's Bitcoin Hard Fork may lead to some volatility in Bitcoin's price although it may also present another chance to altcoins.

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Thanks for reading,
— @mooncryption

image sources: 1, 2, 3, 4, 5