Bitcoin
BTC$57 200.89

1.43%

Ethereum
ETH$3 260.30

0.83%

Tether
USDT$1.000218

-0.01%

Binance Coin
BNB$397.74

-0.24%

Solana
SOL$108.69

-2.26%

XRP
XRP$0.578774

4.44%

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.


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 65.2% 77 $57 200.89 1.43% 10.57% $1 123 411 542 050 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64.8% 80 $3 260.30 0.83% 10.49% $391 728 288 474 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.4% 1 $1.000218 -0.01% 0.03% $98 412 361 473 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 65.2% 70 $397.74 -0.24% 12.85% $59 479 857 047 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 75.6% 40 $108.69 -2.26% 2.93% $48 092 856 952 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 80.8% 29 $0.578774 4.44% 5.30% $31 597 751 568 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 93.2% 1 $0.999850 -0.01% 0% $28 520 429 191 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 64.8% 66 $0.618901 -0.52% 3.41% $21 955 661 991 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 76% 52 $39.24 -0.35% 4.83% $14 801 872 715 AVAX 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 85.6% 27 $0.095118 4.57% 12.58% $13 626 193 308 DOGE 7 days price change
11 TRON (TRX) TRX TRON predictions 66.8% 63 $0.143113 1.51% 2.24% $12 592 966 788 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 70% 61 $0.142958 1.75% 2.17% $12 579 371 848 WTRX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 78% 43 $18.95 -0.81% 0.70% $11 123 980 216 LINK 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 73.6% 50 $8.25 1.85% 10.87% $10 593 986 884 DOT 7 days price change
15 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

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.