Few price movements are currently observed in the market-leading crypto-currency Bitcoin. BTC/USD is currently trading at around 9.075 Dollar and has moved in the past 24 hours barely. In the past seven trading days, the price has slipped just under one per cent to Minus. Thus, the Trend of recent weeks continues. The rate shows no large fluctuations, and remains in the corridor between 9,000 and 10,000 dollars. Already since the beginning of may, so more than two months, this rate of development is recognizable. The Wait for a breakout above the technical resistance in the range of $ 10,500 to continue with it. A Bull Run is not yet in sight.
We consider the most important facts on the price development of BTC/USD into the last trading week:
Thus, the BTC/USD is on the move-rates are currently slightly below the weekly average. Also, many of the Top Altcoins have no bullish signals are evident. Ethereum listed also hardly changed compared to the previous week with a decline of around 1.5 percent. In the case of XRP, the loss of 3 percent and a little higher. Similarly, in the case of Bitcoin Cash of around 3.5 percent.
The most interesting is the development of Cardano’s most up to date. The Altcoin continues the strong Trend of the past few weeks and recorded a growth of almost 24 percent. So Cardano is passing now in Bitcoin SV in the crypto-Ranking by market capitalisation and moves to square 6. Also noteworthy is the development of crypto.com Chain with a rise of around 11 percent. The Coin is in the Top 10 and displaces the Binance Coin.
The current shifts in the Altcoin Ranking are the largest in a long time. May be a Trend currently of the Bitcoin whale “Joe007” prophesied. This investor who has earned millions on the crypto market, expects that it could soon come to a large Die of the Altcoins. This event could take place from his point of view before the next big Bull Run of the Bitcoin is to use. In a Tweet he speaks of the “Shitcoins”. The back cover gets its statement of other market participants, such as Adam Back, the CEO of the company block the stream. He thinks Bitcoin is the only crypto-currency. Also, the Uber Investor Jason Calacanis is of the opinion that 99% of the crypto projects “garbage” are.
However, a look at the performance shows this year that has developed some of the Altcoin significantly more than Bitcoin itself. First of all here is Ethereum to. The Top Altcoin increased in 2020 by approximately 77 percent, while Bitcoin is “only” increased by around 25 percent. Due to the upcoming Launch of Ethereum 2.0 of the Altcoin could get a further boost in prices. Also Cardano, ChainLink or Tezos are with a very good overall development in 2020.
Investors should keep in any case, as always, the courses daily in order to be able to in a timely manner to price changes.
The course information in the article is based on the crypto-currency chart from CoinMarketCap at the time of article publication.
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Image source: Photo by zcopley
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