Bitcoin
BTC$23 109.54

1.95%

Ethereum
ETH$1 598.12

2.07%

Tether
USDT$1.000161

0%

Binance Coin
BNB$307.82

2.42%

USD Coin
USDC$1.000117

0.02%

XRP
XRP$0.412770

2.87%

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 57.6% 88 $23 109.54 1.95% 2.34% $445 426 484 270 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 59.6% 85 $1 598.12 2.07% -3.41% $195 567 528 598 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $1.000161 0% 0% $67 515 300 251 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 64.4% 72 $307.82 2.42% 1.08% $48 605 202 962 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94% 1 $1.000117 0.02% 0.01% $43 072 004 172 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 61.6% 74 $0.412770 2.87% 0.60% $20 970 186 547 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $1.000073 0% -0.01% $15 799 582 881 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 62.8% 79 $0.393130 6.05% 8.64% $13 596 367 597 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 61.2% 75 $0.087877 3.77% 1.98% $11 658 714 056 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 61.6% 78 $1.15 7.05% 11.90% $10 049 918 027 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 60.4% 90 $24.65 4.19% -1.01% $9 158 478 306 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 56.8% 87 $6.59 4.05% 5.22% $7 587 678 509 DOT 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 59.2% 92 $20.83 17.97% 19.53% $6 556 283 286 AVAX 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 64.8% 70 $0.063736 3.91% 2.44% $6 480 392 391 WTRX 7 days price change

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