Bitcoin before 11000 USD
The Kryptos experience a good start into the new week and the BTC is again facing the important 11000 USD mark. Now the S&P 500 has to play along… Again and again the worries about rising corona new infections pulled the traditional markets and the crypto space down in the last weeks. This time, however, several indicators point to a new upward trend. At the same time, the Altcoins are using the current situation for a respectable upward trend. We take a look at what is happening in the block chain market.
Bitcoin price in detail
At the time of writing, the first mover is priced at $10943 USD, which represents a daily growth rate of 2.76%. The 24-hour volume increases to almost 59 billion USD at the beginning of the week. Accordingly, investor interest is growing, a good sign for a sustained upward trend. The bulls were able to break through the stubborn resistance at USD 10800 in the past few hours and are now running towards the USD 11000 mark.
These are the limits that matter now
Due to the current upward trend, the market leader is climbing over the 200-day EMA at approx. 10800 USD. Should this breakout be confirmed in the coming hours, it would mutate into a new support area. However, the next barrier is at 11000 USD. Again and again the bulls failed in the last 2 weeks due to this resistance.
Altcoins are going up
The alternative assets can regain smaller market shares at the beginning of the week and recover from the strains of the previous week. The BTC Dominance Index currently stands at 57.5 %. Ethereum’s 2.7 % increase in the share price indicates initial ambitions for a comeback in the USD 400 range. At the moment the Smart Contract-Coin is at a price of 363.45 USD. At the same time, Polkadot (+ 7.51 %) has jumped back to 6th place in the crypto ranking. With an upward trend of 35.56 %, OMG conjures up the strongest performance on the crypto floor on Monday.
Cardano back in the Top 10
Cardano is back in the top 10. After the Shelley update, the share price slid back below the 0.10 USD mark and it became quieter around the “third generation block chain”. Now CEO Charles Hoskinson is reporting in an AMA with new information about the long awaited Goguen-Era:
“One side of it is transaction meta data and starting to get to a point where you have non-monetary transactions, so basically saying I am not just sending ADA to somebody but now this transaction carries a payload with it which has a non-ADA related utility. So for example, this month we finished all the metadata stuff, dragged it into the Cardano wallet and then into the node.
And now we are starting to use the metadata fields for the credential verification program we are doing in Georgia, things like Beefchain and other things that are related to identity and track-and-trace and so forth. […] And it’s a major milestone when Goguen comes.“