Bitcoin before 19000 USD mark
The bulls are able to resist the pressure of the sales and so on Saturday there will be a showdown at the 19000 USD trendline. If the Bitcoin should screw its week plus of 17,78% around 4 further percentage points upward, the prominent crypto currency would reach a new all time high. The starting position could hardly be better, since the “digital gold” could present itself as a reliable “store of value” in a turbulent year. More and more investors are looking for decentralized investment strategies and low inflation rates. While Bitcoin is attracting new investors to the crypto-market, the old coins can still participate in silence today. We take a look at the current market situation.
Bitcoin course on Saturday
At the time of this article, the first mover is trading at a rate of 18821 USD, which represents a daily gain of 0.42%. According to this, the bulls can defend the gains of the previous days also on Saturday. A daily volume of 37.5 billion USD also speaks for the enormous interest of the traders. Currently, approx. 348 billion USD of the total market capitalization (approx. 539 billion USD) are in BTC investments. This results in a BTC Dominance Index of 64.6 %. Although the Altcoins are regaining important market shares, the market capitalization of Bitcoin is at an absolute record level.
Can Bitcoin replace Gold?
After the market entry of PayPal, the Frist Mover was on a fast track to success. The isolation from traditional markets caused increasing volatility and investor uncertainty was exacerbated by the turbulent U.S. elections in the midst of a global pandemic. Now a manager of the investment giant BlackRock is causing a stir in an interview with the TV channel CNBC. In it Rick Rieder announces that “Bitcoin has come to stay. He goes on to list the advantages over gold. Again and again, experts argue about the advantages and disadvantages between the two “safe havens”. The current Bull Run is likely to reignite this discussion.
What matters now are these limits
From a bullish perspective, the showdown at the USD 19,000 mark will take place after the confirmation of weekly profits. Further back, the next resistances are at USD 19200, USD 19600 and USD 20000, before the all-time high of 20089 USD piles up. On the downside, bullish traders’ hopes on the support lines are at $18800 and $18500.
What are the Altcoins doing?
Good news for Altcoin friends! After Ethereum’s jump above the 500 USD mark, alternative assets are rebounding on Saturday. The Smart Contract-Coin sprints to a new annual high of USD 538 with a daily increase of + 6.38%. Just behind this, Ripple conjures the best performance of all the top 100 coins onto the crypto floor with an uptrend of 32.48%. Thus the “bitcoin of the banks” succeeds in making the leap onto the coveted crypto-podium. Some Altcoins can record price gains in the low double-digit range. Cardano (+ 16.98%), Bitcoin Cash (+ 16.03%) and Bitcoin SV (+ 15.39%) stand out from the crowd.