On Friday, BTC broke through the resistance of $50,500, paused for the weekend, and exceeded $51,500 on Monday, where it is now struggling to hold on.

Actually, Bitcoin is trading above $50,000 since last week as the bulls managed to keep the rate above the 200-day moving average. In light of this, the price of "over fifty" has become quite common over the past few days.

Anchoring above this mark will open the way to $60,000 and may become a catalyst for a fully-fledged reversal of the crypto market.

Altcoins deserve even more attention. Last week, they surpassed bitcoin in growth several times, reducing its market share to almost 41%. Over the week, the capitalization of altcoins increased by 15% and reached $1.34 trillion.

Crypto optimists will love the fact that the mixed fluctuations bitcoin has been exhibiting lately have not changed the views of Bloomberg senior strategist Mike McGlon. He retained a target of $100,000 for Bitcoin and $5,000 for Ether.

Considering the real decrease in the popularity of BTC in search engines, it is possible to conclude a redistribution of existing investors into alternative cryptocurrencies.

Ethereum showed an increase of more than 22% over the week, and its share on the crypto market again exceeded 20%. Throughout history, this happened only once in 2017, and even then for a short time. In fact, the growth of the main altcoin last week set a positive tone for all cryptocurrencies.

Also in the weekly top are Fantom - $ 1.13 (↑ 120%), Revain - $0.0305 (↑ 85%) and IOTA - $1.81 (↑ 80%).

Top 3 altcoins for the last 24 hours: Quant - $ 355.63 (↑ 42.94%), Filecoin - $ 117.31 (↑ 24.82%), OMG Network - $ 8.98 (↑ 19.47%).

There are also "dark horses". For example, the Cardano coin updated it's maximum, having gone above $3, but this was not enough for investors: on the eve of the launch of smart contracts, they expected more from the coin. As a result, the rate fell back to $2.87.

The impression is that the market lacks fresh blood to continue the general uptrend.


Trade Responsibly. CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.37% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider. The Analysts' opinions are for informational purposes only and should not be considered as a recommendation or trading advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms

Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms

Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.

More Bitcoin News
Litecoin poised for double-digit decline after breaking ascending trendline

Litecoin poised for double-digit decline after breaking ascending trendline

Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.

More Litecoin News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.

More Cryptocurrencies News
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC

21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC

21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.

More Cryptocurrencies News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP