The attack of the Altcoins
The Altcoins take advantage of the opportunity for the long-awaited attack and more and more experts believe an upcoming Altcoin Season is possible. ETH 2.0 is in the starting blocks and the current price explosions remind us of the Altcoin Rallye from spring 2018. We take a look at the current market situation.
Bitcoin Course on Tuesday
At the time of writing, the market leader is launching a new attack on the USD 19000 mark. Currently, the BTC price stands at USD 18940, which represents a daily gain of 1.59 %. After the BTC Dominance Index scraped the 60 % barrier in the morning, the No.1 crypto currency finds support in the 100-day line. Approx. 349.4 billion USD of the total market capitalization (approx. 570.4 billion USD) are currently invested in BTC. This corresponds to a BTC Dominance Index of 61.4 %.
These limits are now important
After a minor correction, the bulls are launching another attack on the USD 19000 mark in these minutes. Should the BTC break through this barrier permanently, the magic 20000 USD mark and the all time high (20089 USD) are within reach. The high volatility and a 24-hour volume of approximately USD 50 billion form a highly explosive mixture. However, the pressure of sales in the 20000 USD range is enormous.
Altcoins succeed in independent price breakouts
The following sentences could be from spring 2018: “Ripple confirms the performance of the past days with a daily gain of + 40.72%. The weekly chart shows a + 118% gain for XRP. Thus the “bitcoin of the banks” ranks on position 3 of the crypto charts with a market cap of approx. USD 30 billion”. Almost 3 years later we could now observe the beginning of a new Altcoin season. For days, the alternative assets have been performing in a league of their own, while the first mover has been defending the gains of the previous price rally. At the same time Ethereum reaches an important milestone on the way to the long awaited change from Proof of Work to Proof of Stake.
ETH 2.0 The staking inserts are ready
Good news from Ethereum! On Tuesday Vitalik Buterin announced that the foundation for the launch of the Beacon Chain has been fulfilled. 16.384 validators had previously deposited 524.288 Ethereum units into the famous ETH 2.0 Deposit Contract. The project is considered one of the biggest highlights in the crypto year 2020. For months, users have been eagerly awaiting the update, while countless Altcoin friends associate ETH 2.0 with the launch of an Altcoin Season. Ethereum is currently quoted at 607 USD, which corresponds to a daily increase of 4.10%.
A look at the Altcoins
Approximately 90% of the top 30 coins on the 7-day chart show an uptrend of over 10%. In addition to the impressive performance of Ripple, well-known old coins are attracting attention on Tuesday. Stellar catapults itself with a daily gain of 43.55% close to the top 10, Cardano confirms the gains of the last 7 days (49.22%) with a plus of 4.38% and Bitcoin Cash (+ 17.11%) recaptures rank 5 of the crypto charts. Almost every hour, various Altcoin projects shoot to a new annual high and “moon” calls reach the mainstream. The attack on the 19000 USD mark could be a groundbreaking milestone. We are looking forward with excitement to the showdown at this barrier.