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XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found
XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found

Bitcoin Price Prediction - Bitcoin’s Sudden Spike Makes Other Top Coins Ascend, Experts Talking of Bullish Rally

  • Yuri Molchan
    📰 News

    The crypto market suddenly shows a reverse, making the top twenty assets enter the green zone, with only Tether staying in the red

Bitcoin’s Sudden Spike Makes Other Top Coins Ascend, Experts Talking of Bullish Rally
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On Friday, December 28, the crypto market suddenly rose from the red with Bitcoin reversing and jumping around $300 from today’s lowest point on the charts.

Rise of Bitcoin

BTC began rising at around 3 p.m. UTC, pulling up the other top-10 coins along with it. Currently, the major crypto asset is trading at $3,889, and it keeps appreciating.

The biggest gain so far has been shown by Litecoin. The ‘digital silver’ has ascended by 8.47 percent. Then comes Ethereum (+ 7.31 percent). ETH is followed by Bitcoin Cash (+6,74 percent) and EOS (+5.14 percent).

Curiously, the only loser at the moment here is Tether (USDT). It is showing a drop by 0.29 percent, even though earlier today, before the market reversed, USDT was the only coin in the green on the top-ten list.

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Top-20 coins

As for the next ten crypto assets, nearly all of them are on the rise, too. Except for just one – NEM. XEM has depreciated slightly, by 0.69 percent.

The biggest gainer at the moment is IOTA (+7.88 percent) and Binance Coin (BNB, +6.77 percent).

More red spots can be seen outside the ‘top-20 club’. Similarly to USDT, the coins which were on the rise earlier today when the rest of the crypto market was in the deep red are now falling – stablecoins USD Coin, TrueUSD and Paxos Standard Token.

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What experts are even afraid to whisper

Analysts believe that the bulls are attempting to build a rising trend, extending the one we witnessed a week ago when the BTC price got over the $4,000 level. Many technical indicators (the Bollinger Bands, Fibonacci and a few others) are showing that Bitcoin is rising despite numerous barriers. Over the last hour, the BTC price got over the 100 Moving Average, which is a good sign for a continuous spike.

Analysis of the daily chart suggests that if all goes well, BTC may shoot towards $5,000 at the start of 2019.

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Bitcoin Price Prediction - Bitcoin Price Resistance Hovers over $4,000 — Is It Predicted to Boost from There or Fall?

  • Darryn Pollock
    🤷 Opinions

     

     

    Bitcoin’s crossing into the $4,000 range has seen it mostly stay above this key resistance, but what is the next move — more growth and a potential explosion marking the true cryptocurrency spring, or will it be a fall that could take Bitcoin down to its true bottom that maybe has not even been seen in the last three years?

Bitcoin Price Resistance Hovers over $4,000 — Is It Predicted to Boost from There or Fall?
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As part of the cryptocurrency spring, Bitcoin has managed to make it past $4,000, and then fallen back, only to fight to reach that same mark again. With that, Bitcoin has been able to remain above the $4,000 mark for a longer period of time in this second foray above the resistance mark, but where does this coin go from here?

A small drop seen overnight has taken Bitcoin briefly below $4,000, but it bounced back to sit on that floor, showing there is a strong resistance level at that point. Nonetheless, it is also vulnerable to falling below that mark, and potentially falling drastically if it can’t keep above it.

However, with the price of the coin showing a better level of stating power, the alternative is that this may be the mark that springboards the coin into a much higher price bracket, especially considering the generally good cryptocurrency sentiment that is around at the moment.

The state of the market

The cryptocurrency market in general finds itself interestingly placed as there is a change in sentiment, but it is certainly not a bull market. News surrounding positive improvements in the cryptocurrency space have seen certain coins boosting and holding their gains, but not on the same level as was seen before.

At the same time, negative news has also not sent the price of the market crashing as was commonplace through most of 2018. What is interesting to note, however, is that there has been very little development surrounding Bitcoin in terms of positive mainstream news, rather it is the altcoins in the spotlight.

Altcoin season

Bitcoin still directs the market — in that when it rises, the rest of the market rises too and vice versa — but what has been seen is that a few key altcoins have been doing very well and have been doing their bit to bolster the market.

The likes of Litecoin has been growing well, up 50% this year alone, and that has helped change the sentiment of the market and in its own way, shifted the price of Bitcoin in a positive manner.

What is potentially poised to happen is that the altcoin season could bolster the market enough to get Bitcoin in a position to rally, and that rally could well mark the beginning of the crypto summer again.

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