Bitcoin bulls pick up speed
The market leader is again approaching the USD 12000 mark on Wednesday. At the same time, gold is setting a new all-time high above the USD 2000 mark. More and more investors are moving their capital in search of safe havens. Limited reserves and low inflation provide good reasons for a shift. With a total market capitalisation of around USD 355 billion, the crypto space continues to move towards independence. How far can the bulls push the price?
At the time of this article, Bitcoin is quoted at USD 11688, which represents a daily increase of 3.91%. After several attempts, the bulls manage to jump over the resistance at 11600 USD. Now the important 12000 USD barrier moves into the focus of the traders. On the downside, the trend line at 11600 USD now forms the new resistance. In the past 24 hours, the trading volume has shown a rising trend, and currently the BTC volume is at approx. 23 billion USD. Due to the new uptrend, the BTC Dominance Index will rise to a level of 60.8% on Wednesday. According to this, the first mover can regain smaller market shares, although the old coins continue to press the accelerator pedal.
Ethereum breaks the 400 USD mark
Ethereum is back! By breaking the 400 USD sound barrier, the Smart Contract Coin brings back memories of 2018, and there are good reasons for this… With the successful start of Testnet, ETH is underlining its ambitions. Of course, the long-term roadmap, and the associated change from proof of work to proof of stack, continues to present Vitalik Buterin’s team with complicated tasks. However, the booming DeFi market and the upcoming milestones provide powerful arguments for a sustained upward trend.
Chainlink has been performing in a league for weeks. By reaching a new all-time high of 9.93 USD the project confirms this top form of the past weeks. The advance into the double-digit US dollar range is within reach. Currently the Oracle-Coin is on position 10 in the crypto charts. In general, most alternative assets look back on a successful Wednesday. With a few exceptions, the alts can still make profits today.