Bitcoin
BTC$51 080.64

-0.17%

Ethereum
ETH$2 958.60

0.59%

Tether
USDT$0.999795

-0.01%

Binance Coin
BNB$381.55

1.23%

Solana
SOL$102.29

-0.22%

XRP
XRP$0.545718

1.85%

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.


Related

NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 61.6% 79 $51 080.64 -0.17% -1.23% $1 003 032 737 138 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 62% 74 $2 958.60 0.59% 6.46% $355 494 702 948 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $0.999795 -0.01% -0.02% $97 890 672 484 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 64.4% 70 $381.55 1.23% 7.26% $57 057 600 788 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 71.6% 50 $102.29 -0.22% -6.31% $45 116 798 824 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 83.6% 21 $0.545718 1.85% -1.30% $29 793 057 958 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000101 0.02% 0.05% $28 143 447 515 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 66.4% 70 $0.588280 0.75% 0.78% $20 866 465 494 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 70.8% 56 $36.49 -0.85% -7.71% $13 762 867 956 AVAX 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 90.8% 12 $0.085058 1.69% 0.73% $12 180 653 380 DOGE 7 days price change
11 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 66.8% 61 $0.137719 -0.61% 1.34% $12 121 314 356 WTRX 7 days price change
12 TRON (TRX) TRX TRON predictions 66.4% 62 $0.137622 -0.72% 0.96% $12 112 809 359 TRX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 69.2% 62 $18.40 2.55% -5.46% $10 801 864 838 LINK 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 74% 47 $7.74 5.26% 2.37% $9 922 947 798 DOT 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.