BTC over 1000 USD
The No.1 crypto currency is breaking the magic barrier and is meanwhile rising to over 10100 USD. However, the bulls can only maintain this level for a short time. In the meantime, Ethereum confirms the jump above the important USD 300 mark and Cardano continues its outstanding performance of the past weeks. We take a look at an eventful Sunday
Bitcoin course in detail
On Sunday, the market leader will climb above the magical 1000 USD mark for a short time and cause a furore among investors with its price rally. At the time of writing, the BTC is trading at USD 9879, which corresponds to a daily gain of 2.64%. The resistance at the USD 10000 mark is again proving to be stubborn. However, investors have pumped more than $4 billion into the market in the past few hours, so a new bull run should not fail due to the purchasing power. On the downside, the trend line at $9800 is the new support line.
What is the next move?
Crossing the magic line has several side effects. First, the bull run liquidated millions of short positions, causing many traders to take heavy losses. In addition, the first mover has moved into the focus of the mainstream media. The five-digit USD range is associated with an isolation from Wall Street. For months Bitcoin followed the major stock indices at every turn. Due to the independent upward trend, the digital currency is again recommended as a crisis-stable store of value. In addition, there could be a FOMO effect. FOMO (fear of missing out) refers to the fear of investors that they will miss a new price rally.
Bitcoin Dominance Index at 61
The Bitcoin increases and the Dominance Index decreases. This is an atypical picture if one observes the development of the last months. However, a BTC Dominance Index of 61% optimally reflects the current market situation. The alternative assets are becoming more and more in the focus of investors and an Altcoin Season 2020 is realistic if you take a look at the roadmap of many projects. On Sunday, Ethereum in particular attracts attention.
Ethereum breaks through the USD 300 mark
Ethereum continues the performance of the previous days and catapults itself above the important 300 USD limit. Currently, the Smart Contract-Coin is at a price of 309 USD, which means a daily gain of 2.64 %. In the top 20, Cardano (ADA) recorded the largest price increase with a price gain of 6.71 %. The forthcoming Shelley launch is to take place as planned, with the third-generation Blockchain pressing the accelerator pedal.
It comes to another showdown at the magic 10000 USD mark. The bulls need the purchasing power of the investors for this. In addition, the traditional markets could give a helping hand to “digital gold” on Monday.