Latest Market News
Bitcoin took a steep 7% price plummet today as it drops into the $54,750 support provided by a short-term .382 Fibonacci Retracement level. The coin had been trading above $59,600 yesterday but failed to overcome resistance at a falling trend line from the April ATH price and started to roll over.
It is well-known that Bitcoin is a so-called risk-on asset. Over the course of its 12-year long existence, Bitcoin has strongly preferred good macroeconomic conditions over harsh economic phases.
Bitcoin remains beneath $60,000 this week. However, Ethereum has been the main driving force behind an altcoin boom. Over the past month, Etheruem managed to surge by a whopping 99% to climb above $4,000 today finally. This has helped a large number of altcoins to start seeing some huge price hikes over the past few days.
As we move towards the end of Q2, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
As 2021 continues on, it’s never too late to take a look at some of the best cryptocurrencies that are slated to be on the rise. We’ll be taking a look at some of the crypos that appear to be promising to investors this year. As Bitcoin continues its climb and reaching all-time highs, so too are some of these cryptocurrencies as well.
By the words of Yoshitaka Kitao, CEO of Japanese financial services company SBI Holdings, Ripple has plans to go public once its dispute with American securities regulator SEC is resolved.
The positive market sentiment surrounding ETH has been a major win for Vitalik Buterin, who holds massive amounts of the cryptocurrency.
Ethereum Classic is on a rampage after surging by over 830% this month, allowing the original but “wrong” Ethereum to hit a new ATH price of around $158.71. The cryptocurrency started the month at around $40 and went on to break the 2018 Highs at $47.25. From there, it continued to explode after printing a 7-day price increase of over 285% to set the new ATH yesterday.
Chainlink saw a robust 31.5% price surge over the last week of trading as the cryptocurrency managed to spike past $50 and reached a new ATH price at $54.40 (1.618 Fib Extension). The cryptocurrency had also penetrated above a very long-term rising trend line yesterday that dated back to June 2020.
The Dogecoin rally is still going, and the popular meme cryptocurrency registered another all-time high today. The DOGE price spiked from $0.55 all the way up to above $0.690, where the bulls encountered some resistance.
