U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Bitcoin, Ethereum, Ripple's XRP Roar Back with Solid Price Gains. Here's What Top Traders Have to Say

News
Wed, 10/09/2019 - 16:28
Alex Dovbnya
Top cryptocurrency traders weigh in on the latest cryptocurrecy market revival
Cover image via www.123rf.com
Contents
Put your crypto to work
10
BTC
  • $68.96

    Interest per week

  • $3585.7

    Interest per year

  • 4.15%

    Interest rate

Join Now!

The cryptocurrency market is finally getting back on its feet after a massive flash crash that took place on Sept. 24. According to data provided by CoinStats, Bitcoin is up 4.55 percent with top altcoins also remaining in the green territory.   

image by coinstats.app 

card

"Not out of the woods"

Despite the solid price move, Josh Rager claims that the top coin is not out of the woods yet. In order to maintain its bullish momentum, the BTC price has to print a daily close above the $8,750 level. Otherwise, the bulls should lower their expectations for their short-term gains. 

There is a suggestion that the Bitcoin price could have formed a triple bottom, a bullish reversal pattern that shows three failed attempts at printing new lows. If the pattern gets confirmed, the bulls can easily win back the $9,000 level. 

Related
Ripple’s XRP Price Is Headed for Up to 4,600 Percent Increase as Major Indicator Turns Bullish

All eyes on altcoins 

Surprisingly enough, Bitcoin isn't at the center of the conversation amidst this crypto market rally. XRP is stealing all the spotlight since the token appears to be on the cusp of a major bullish move that could be on par with its rally in December 2017. "Crypto Welson" says that he expects a big move if the XRP price holds above its current support. He further adds that XRP holders have been waiting for this move for this for years.

Meanwhile, Ethereum, the biggest altcoin by market cap, is also up by almost eight percent, moving closer to the psychologically important $200 target.     

This time, it seems like an alt season is really coming.    

 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020
Over $1 Mln in Bitcoin (BTC) Bought by Non-Crypto Investors Past Two Weeks
Bitcoin (BTC) Price Targets $7,600 with Chance to Hit $8,900 Later
Ripple and Bitso Wire 84.5 Mln XRP but XRP Price Expected to Fall from $0.19