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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE): This Is What Top 10 Cryptocurrencies Looked Like Five Years Ago

  • Alex Morris
    ๐Ÿ“ˆ Price Predictions

    ๐Ÿง๐Ÿง๐ŸงWhere are they now? U.Today takes a look at the current standing of the top 10 coins of 2014

Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE): This Is What Top 10 Cryptocurrencies Looked Like Five Years Ago
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Contents

New DataLight study vividly shows how the top 10 biggest cryptocurrencies by market capitalization changed throughout the years. Bitcoin (BTC), Litecoin (LTC), and XRP (XRP) are the only cryptocurrencies that stood the test of time and didnโ€™t cede ground to competitors.

๐Ÿ‘‰MUST READ Top Coins by Wikipedia Page Views: BTC Rules the Roost Along with BAT and DOGE

Bitcoin and XRP remain at the top

Five years ago, as expected, Bitcoin was the king with a market capitalization of around $7.5 bln. On Feb. 24, 2014, its market dominance was at a whopping 88 percent. Litecoin (LTC), the early Bitcoin spin-off, was only the second biggest currency while XRP was only vying to dethrone it.

Dogecoin (DOGE), the very first memecoin, was in the top 5, and it occupies 27th place at the time of writing. BitShares (BTS), another top 10 entry, also managed to stay in the top 50 after five years.

Crypto fads of 2014

While the aforementioned coins sound familiar, newbies might be surprised to see Peercoin (PPC) in fourth place since itโ€™s currently not even in the top 200 biggest cryptocurrencies. Nxt (NXT), Namecoin (NMC) are also outside of the top 200.

Omni (OMNI), the seventh coin, is sitting at 655th spot on CMC. Meanwhile, Quark (QRK), which was the tenth biggest cryptocurrency five years ago, has a tiny market cap of $1.2 mln, staying at 1249th place. The project looks pretty much dead at this point.  

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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
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Contents

After trying to retain the position above $4,000, Bitcoin seems to be stuck. What to expect from BTC during the following weeks? Whatโ€™s the best time to invest in Bitcoin? Letโ€™s try to figure it out with tradingview users: they will provide their BTC price predictions and opinions about investment strategies.

Bitcoin has to break another resistance

Both shortage and resistance breaking are possible for BTC

Bitcoin price chart from DianKemala

This BTC price chart clearly explains the influence of the Fibonacci level on its price. Traders saw a big bearish candle 2 days ago, but bears stopped at $3,936 and started performing a sideways consolidation pattern.

Bitcoin failed to break the Fibonacci resistance zone (4004 - 3986), which isnโ€™t a bullish sign, but we have another resistance above at $4,038. If Bitcoin is able to break up this resistance, the bullish period will continue. The important support before the bearish period is around $3,936. If this support breaks down, expect a bearish target at $3,860, or maximum at $3,780. 

Will BTC get back to $3,600?

$3,600 level is ideal for investments

Bitcoin price chart from MarcPMarkets

We are watching the BTC market trying to overcome 4K resistance level with varying success. According to MarcPMarkets, the current BTC trading environment does not offer an attractive reward/risk for putting any new money to work.

All risks should be properly assessed. The low 4K area is still the range resistance, while the lower 3K area is the range support. In the green box, you can view the potential reward, while the red box represents the potential risk. Why would we put on any new swing trades at range highs when chances are the price is more likely to test much lower levels in the short term? 

Candlesticks or RSI are not the only signals of upcoming BTC fall. The fact that price is beginning to show signs of structural weakness confirms our reasoning that staying out of any new swing trades near the range highs is the best choice for now. Support levels begin around the high 3600s and continue through to the 3450 levels. That might be the ideal time for investments.

Although supply may be slowly removed from the market, it will take some time before the effects play out. So we will continue to wait for two particular scenarios: 1) price retraces toward the lower part of the range for a reversal to go long; or 2) price breaks beyond 4150 and provides a momentum continuation pattern for a long.

BTC is ready for capitulation

 BTC movement is around the corner

Bitcoin price chart from DataPatron

During several months Bitcoin was consolidating in a tight range between $3,300 and $4,400. Now it seems to be completing sideways mission, and long term volatility promises a serious movement thatโ€™s around the corner.

I am almost sure another red leg symmetrical to the previous one (from 6 to 3k) is before us.

All in all, Bitcoin is in a broader recovery over the long term, but the short term is just not in a position that offers attractive reward/risk. Consider an investment in BTC, if it hits the $3,600-3,700 bottom line in a few weeks.

BTC/USD price chart on TradingView

Disclaimer: The opinion expressed here is not investment advice โ€“ it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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