Veröffentlicht: 06.11.2020

Altcoins use the slipstream – Altcoin Season 2021?

Bitcoin still over 15000 USD

The No.1 crypto currency confirms the outstanding performance of the previous day and starts the weekend with a price increase of 2.17%. While many experts debate about a new all time high, the Altcoins in the background use the favor of the hour for own course gains. We take a look at the current market situation.

Bitcoin price on Friday

While the world waits for the vote count in the U.S. states of Pennsylvania and Georgia, Bitcoin is also making its rounds on Friday. At the time of this article, the market leader is trading at a price of USD 15489, a daily gain of 2.17%. In the past 24 hours, the trading volume has risen to approximately 41 billion USD, a clear sign of the enormous interest in the “digital gold”. At noon, Bitcoin suffered a small setback at the USD 15800 mark. Not a few traders see this area as one of the few barriers on the way to a new all-time high.

These are the limits that matter now

From a bullish perspective, the next resistances are at USD 15600 and USD 15800. Shortly thereafter, the previous year’s high is at USD 15869. On the downside, the support lines are at USD 15400 and USD 15000. Due to the high volatility, it is worth taking a zoomed-out look in many respects. For over a year, price fluctuations in the double-digit percentage range for the BTC price were considered an absolute rarity. By isolating themselves from the traditional markets, these wild outliers could now be back on the agenda – in both directions…

Ethereum as winner of the hour

No matter whether BTC, gold or the Apple share. Innumerable assets are recording considerable price gains during the ongoing US elections. However, Ethereum (+ 18.8 %) beats most investments by far. With an impressive rally, the Smart Contract-Coin climbs to a price of USD 440 in a rush, raising hopes for a new Altcoin Season.

Altcoin Season possible?

At first glance, a Bitcoin Dominance Index of 64.7% speaks for itself. Traders concentrate on the first mover and the Altcoins seek their fortune in the slipstream. However, we could already observe a similar situation in December 2017. At that time the bulls maneuvered straight to the USD 20000 mark and the mainstream media reported on the historic Bull Run. At that time, it took less than 30 days for the alternative assets to take command to herald the start of an unprecedented Altcoin Season. Whether events will repeat themselves remains questionable. However, ETH 2.0 could bring about long-term changes in crypto space.

Altcoin Courses on Friday

Cardano conjures up the best performance of all the top 20 coins on the crypto parquet with a price increase of + 13%. The “third generation block chain” is thus again positioned in 10th place, with alternative assets such as NEM (+ 16.23 %), VeChain (+ 14.35 %) and Aave (+ 20.32 %) drawing attention further down the line.

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