Bitcoin & Ethereum reach new heights

Since the pandemic struck and caused Cryptocurrencies to drop immensely, there were investors who told the world of their prediction, that Bitcoin and altcoins would fall. They were right. Every Crypto fell and the future looked bleak but slowly, it began to regain its spot and retake its place. Talking about Bitcoin, it crept towards the $10,000 margin that was not only the main resistance for the Crypto king but also a mental barrier stopping the holders from selling. But the bulls have been active, for both Ethereum and Bitcoin. At the time of writing, BTC sits at $10,269 and ETH at $324.24. It is hard to believe that just a week ago, we were debating whether Bitcoin would break into the $9,500’s. This goes to show you that Cryptocurrency is highly volatile and can make or break any investors whole portfolio.

With a monthly high of $10,315 reached only recently, BTC looked down and out at the end of last week before finding immense strength not seen since March to close above the dreaded $10k line. While analysts are throwing numbers such as $11,000 and $12,000 into the mix, it is important to remember that this is only recent news and the price has yet to retest underlying support below the $10k range. The last two moves above the $10,000 limit came at high volume times making it comprehensive that traders keep a close eye on those windows to calculate if the upward trend can continue or not. If a pullback is going to happen, we might see it finish just above $10,100 or even as low as $9,600.

As for ETH, we have already seen its price max at $367 just yesterday but noting that it has dropped off slightly, there might be a chance that traders after getting their profits are cashing out. Those still holding on to it would hope for it to go the distance to finish above $350 but with a 24-hour change of almost 5%, that seems highly unlikely. As with the general rule for Cryptos. Rise in Bitcoin also got a movement upwards from some notable top 20 cryptos. Crypto.com, Monero and Bitcoin SP were the ones with the highest gains. With the total market cap of Cryptocurrency at a staggering $306.6 Billion, it is no surprise that more and more people are getting into the trend causing the prices to go up.

So, what is your opinion on this? Is Bitcoin going to up or will the retest take its value below $10k? Is ETH going to perform as well as yesterday? Which coin would you like to see go up?  We would be glad to hear all of your opinions so please feel free to reach out to us on our Socials or comment below to get published on our platforms.