Bitcoin
BTC$57 356.27

5.94%

Ethereum
ETH$4 304.76

6.93%

Binance Coin
BNB$608.28

5.04%

Tether
USDT$1.000018

-0.09%

Solana
SOL$200.94

7.45%

Cardano
ADA$1.59

6.77%

Bitcoin could reach $100K this year


02 Nov 2021

#Bitcoin

Bitcoin has added 1.8% in the past 24 hours, returning above $61.7K. The RSI index on the first cryptocurrency’s daily charts has returned to growth, shedding last month’s mid-month oversupply. Meanwhile, most leading altcoins add even more dynamically, with Ether strengthening by 3.3% and Dogecoin by 4.8%. The broad-based altcoin advance pushed total cryptocurrency market capitalisation to new all-time highs, surpassing $2.66 trillion.

The Cryptocurrency Fear and Greed Index dropped by a point to 73 while remaining in Greed territory. These are pretty high levels for the index. We have seen the index stabilise roughly as high in May and September before the latest two sharp drops. Nevertheless, this time around, we note the broad front of the altcoin offensive and the historic highs in cryptocurrency capitalisation – all signs that the upward movement is still gaining momentum.

We haven’t even seen an episode of FOMO yet, so the sharpest bull-run part of the rally is yet to come. Despite Bitcoin’s very sluggish performance in recent days, what still draws attention is the apparent support on the dips in the $60K area. The same area acted as serious resistance from March to May. In our view, we are dealing with a bullish consolidation before another assault on bitcoin, which promises to make the year-end an extravaganza for the first cryptocurrency with a run to new all-time highs.

BTC/USD Daily Chart

The pullback from the October highs fits within the traditional Fibonacci retracements from the rising wave from the September lows. In this scenario, a new upside wave could pass without significant corrections to $83.9K. However, even more clearly, the latest consolidation fits within a corrective pullback to 76.4% of the rally from the July lows. In this case, the targets for BTCUSD seem to be levels just above $90K, where the first cryptocurrency could be this month.

ETHUSD is moving even more evenly, adding for the sixth week in a row and methodically finding buyers on intraday declines. Buyers in this instrument have stepped up on falls under $3K and have been regularly updating historic highs since last week. Ether has seen a contraction in supply since last week, which plays in favour of the upside, especially attracting the attention of investors concerned about the abundant supply of money in the developed world and the huge debt load.

Looking at Ethereum from a tech analysis perspective, developing the latest growth wave opens it up to a straight and swift path to $5.4K.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 74.8% 42 $57 356.27 5.94% -0.06% $1 083 224 324 583 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82% 32 $4 304.76 6.93% 3.35% $510 247 457 151 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 73.6% 53 $608.28 5.04% 6.90% $101 461 207 607 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000018 -0.09% 0.01% $73 122 538 378 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 69.6% 65 $200.94 7.45% -8.89% $61 094 715 358 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 70.8% 60 $1.59 6.77% -11.22% $53 044 656 745 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 72.4% 51 $0.977023 7.37% -5.86% $46 075 386 084 XRP 7 days price change
8 USD Coin (USDC) USDC USD Coin predictions 92.8% 2 $0.999312 0.03% 0.05% $38 434 749 744 USDC 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 64.4% 75 $36.26 9.70% -9.66% $35 813 883 653 DOT 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 63.2% 74 $0.205330 2.97% -7.58% $27 166 036 595 DOGE 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 64.8% 75 $113.59 7.50% -16.68% $25 424 712 555 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64% 77 $0.000039 3.86% -10.81% $21 414 891 870 SHIB 7 days price change
13 Terra (LUNA) LUNA Terra predictions 65.2% 72 $49.91 17.07% 20.70% $19 612 641 482 LUNA 7 days price change
14 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 58.8% 90 $0.761802 5.01% 7.61% $19 245 420 209 CRO 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 75.2% 46 $56 387.63 5.79% -1.42% $14 292 919 152 WBTC 7 days price change

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