Bitcoin with slight correction
The bulls take a break on Sunday and the BTC settles at around 18300 USD. After an eventful week, the share price has risen by 13.52 %. The market leader is thus entering a sphere in which other “forces” are at work. The highly explosive mixture of hype, FOMO and high volatility could catapult the Bitcoin over the magical USD 20000 mark in a rush. With all the parallels to the “Crypto-Winter 2017”, “digital gold” is currently in a completely new situation, which is characterized above all by the uncertainty of traditional investors. At the same time, the old coins are lurking for their chance. We take a look at the events in the crypto space.
Bitcoin Course on Sunday
At the time of writing, the BTC is quoted at USD 18282, which is a daily loss of – 2.81%. According to this the bulls have to record a rebound from the important 19000 USD mark during the night to Sunday. A 24-hour volume of approximately USD 41.2 billion makes it clear that this rebound is not the result of investors’ lack of capital strength. Billions of USD are flushed into the market daily by the mainstream media, as many BTC addresses as this week were last created in January 2018 and search queries are at record levels. However, the pressure of sell-offs in the current sector is enormous, as many investors are taking profits.
Supports & Resistances
After bouncing off the USD 19000 mark, bullish traders are hoping that the support lines at USD 18200 and USD 18000 will ward off the bears’ attacks. However, it should be noted that volatility can bounce in either direction. On the other hand, the next resistances on the upside are at $18400 and $18800. Shortly behind these levels, the previous year’s high for the pair is piled up at USD 18936.
Altcoins remain on an upward trend
The alternative assets set an exclamation mark in the direction of First Mover on Sunday. Thus Ethereum and Co. storm to new annual best values, although the market leader experiences a correction. This development is quickly seen by the first experts as the beginning of a new Altcoin Season. And indeed, the parallels to the historic turn of the year 2017-2018 cannot be denied. However, a closer look reveals major differences. Bitcoin appears more stable than ever after the third BTC Halving Event and many investors appreciate digital gold as a safe haven in difficult times. It remains questionable whether the Altcoins can push themselves into the spotlight in the coming weeks.
Altcoin prices in detail
Ripple currently performs in a league of its own. With a course increase of 25,55% the “Bitcoin of the banks” strengthens its podium place and puts the largest increase of all Top 30 Coins on the crypto parquet. Further back, coins such as Cardano (+ 12.22 %) and Stellar (+ 10.26 %) can attract attention. Further back the Bitcoin Forks show a strong upward trend
- BTC Forks BTC Cash (+ 8.88 %)
- LTC (+ 2,01 %)
- BSV (+ 7.74 %)