Bitcoin
BTC$27 207.37

1.65%

Ethereum
ETH$1 852.61

0.99%

Tether
USDT$1.000337

-0.02%

Binance Coin
BNB$309.10

0.59%

USD Coin
USDC$1.000049

0%

XRP
XRP$0.473689

0.06%

Bitcoin price steady after weekend surge above $49000


05 Oct 2021

#Bitcoin

The price of Bitcoin was relatively steady on Monday after a surge at the weekend took the world’s largest cryptocurrency above $49,000 to its highest level since 7th September. After Friday’s sharp gains when the price of Bitcoin vaulted above $45,000, upward momentum continued over the weekend although began to wane as the new week got underway. The gains in Bitcoin came after a two-week period of heightened volatility after China announced that all transactions in cryptocurrencies were illegal, effectively banning anything to do with crypto and digital assets.

Then, on Thursday last week, Federal Reserve Chair Jerome Powell said the Fed had no intention to ban Bitcoin and other digital assets, although he did say that the cryptocurrency market needs regulation.

That helped propel Bitcoin higher late last week until it peaked on Sunday. The upside helped lift other major cryptocurrencies although many of the larger altcoins - such as Ethereum, Cardano, and Solana - have pared some of the gains today.  

Technical Analysis

On a technical level, $50,000 will be the next big level that Bitcoin must overcome to maintain the momentum to the upside. Above that level and the 78.6% Fibonacci retracement from the September high to September low could also act as resistance at around $50,150. A move above there and the September high comes into play at around $52,900.

On the downside, the 50-day moving average at $46,660 looks likely to act as support with the 200-day moving average below there near $45,000. At 14:39BST, Bitcoin was trading around $47,900.


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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 89.2% 19 $27 207.37 1.65% 0.07% $527 434 425 401 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 94.8% 5 $1 852.61 0.99% 1.85% $222 788 001 710 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92% 1 $1.000337 -0.02% 0% $83 155 084 825 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 94.4% 4 $309.10 0.59% -0.47% $48 174 899 448 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92.8% 1 $1.000049 0% 0.01% $29 070 326 362 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 82.8% 24 $0.473689 0.06% 1.09% $24 623 952 850 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 85.2% 20 $0.373120 1.85% 2.03% $13 012 197 743 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 91.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 80.4% 31 $0.072943 2.18% -1.16% $10 177 454 142 DOGE 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 70.8% 56 $0.929328 1.08% 6.09% $8 623 672 184 MATIC 7 days price change
11 Solana (SOL) SOL Solana predictions 77.2% 38 $20.54 5.37% 1.37% $8 139 201 360 SOL 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 83.2% 33 $0.077319 2.15% 6.69% $7 861 476 137 WTRX 7 days price change
13 TRON (TRX) TRX TRON predictions 78% 33 $0.077557 2.73% 7.09% $7 001 499 350 TRX 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 79.6% 35 $90.07 2.46% -2.43% $6 576 409 941 LTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 83.6% 22 $5.38 2.10% -0.24% $6 394 242 854 DOT 7 days price change

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