Bitcoin
BTC$28 279.47

0.07%

Ethereum
ETH$1 799.37

-0.44%

Tether
USDT$1.001852

0.03%

Binance Coin
BNB$326.48

-3.19%

USD Coin
USDC$0.999094

0.05%

XRP
XRP$0.442825

11.63%

Interest in crypto is way broader than just Bitcoin


04 Nov 2021

#Bitcoin

Over the past 24 hours, the crypto market capitalisation grew another 3% and has surpassed $2.7 trillion, hurtling towards new all-time highs. At the same time, the price of bitcoin has increased by 2%, clearly indicating that cryptocurrencies are on a broader growth trajectory. Bitcoin briefly climbed above $64K overnight but pulled back to levels just below $63K on Wednesday morning. The RSI on the daily charts is at 60, stepping down after the October rally and reflecting that the market has cooled enough to clear the way for growth. The crypto Fear & Greed Index jumped to 76, one-week highs, indicating a shift in crypto-enthusiasts focus, but not wariness in general.

Bitcoin reaching new all-time highs earlier last month encourages the search for potential new crypto stars with more room for growth. The search for these ideas we divide into two streams. The first is an increase in purchases of top altcoins. These are the one or two dozen coins with relatively high capitalisation and a long history, the blue chips of the crypto market.

First and foremost is Ether, which attracts with its long history and uses in multiple projects. Although transactions are pretty expensive, the developers are on their way to solving this problem, even if this way is broken up into many stages stretching over the years. In recent months, the project’s main killer feature has been burning coins for transactions on the network, which enthusiasts call deflation. (Though economists can hardly attribute a steady price decline to the fact that the rate at which crypto coins are burning is outstripping the rate of creation.)

Ethereum Six Months Chart

Another area of search for crypto-enthusiasts and speculators in the industry is new projects, promising infrastructure or ideas, or good PR. The best PR man of our time, Elon Musk, is a nice bonus. In terms of PR, what matters is not the coin itself but the extent to which its followers manage to maintain the hype and thereby promote its ever-widening acceptance.

Shiba Inu and Dogecoin are perfect examples from this point of view, as both managed to break into the top ten most capitalised coins (excluding stablecoin USDT). The total value of all coins of each of these projects exceeds $35 billion.

Sandbox is also worth a look among the increasingly popular coins. Despite a relatively modest 8% growth per day, it has gained more than 240% in seven days. It is more than a year old, but it falls out of speculators’ sight during periods of market lull, actively accelerating only during periods of market love for altcoins, like now.

The coin stands out for its trading turnover, which has exceeded $5.27bn in the last 24 hours, putting it in fifth place behind Bitcoin (36.6bn), Ethereum (21.1bn) and XRP (5.29bn). Again, we put stable Tether (86.3bn), and Binance (7.34bn) in a different category as they are intermediaries for crypto players and interest in them does not affect the price.


Related

Bitcoin retreats below $25000
Bitcoin retreats below $25000
The nice Bitcoin technique
The nice Bitcoin technique
Bitcoin falls below $20000
Bitcoin falls below $20000
Bitcoin falls below the $22000
Bitcoin falls below the $22000
Powell's speech deepens bitcoin correction
Powell's speech deepens bitcoin correction
HFM Introduces New Virtual Analyst
HFM Introduces New Virtual Analyst
Copy Trading Strategies: How to Start Successful Copy Trading
Copy Trading Strategies: How to Start Successful Copy Trading
Which Citizenship by Investment Programs are Crypto-Friendly?
Which Citizenship by Investment Programs are Crypto-Friendly?
Pressure on BTC at the $21500 level
Pressure on BTC at the $21500 level

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 75.2% 48 $28 279.47 0.07% 13.63% $546 494 314 501 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 83.6% 31 $1 799.37 -0.44% 7.08% $220 196 375 480 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.4% 1 $1.001852 0.03% -0.30% $77 579 753 841 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78% 46 $326.48 -3.19% 5.28% $51 548 167 677 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94.4% 2 $0.999094 0.05% -0.02% $35 208 468 704 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 86.8% 15 $0.442825 11.63% 20.07% $22 562 333 716 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 63.6% 81 $0.105163 5.10% 28.30% $18 236 394 788 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 76.4% 51 $0.371643 7.97% 10.64% $12 903 136 163 ADA 7 days price change
9 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 76.4% 48 $1.15 -0.34% -2.20% $10 039 890 799 MATIC 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 71.6% 55 $0.075145 1.86% 2.48% $9 969 588 590 DOGE 7 days price change
12 Solana (SOL) SOL Solana predictions 73.2% 56 $22.53 -1.79% 9.39% $8 642 061 823 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000025 0.01% -0.03% $8 119 883 434 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 75.6% 50 $6.29 0.46% 1.61% $7 344 673 141 DOT 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84.8% 22 $0.067252 3.83% 1.45% $6 837 900 813 WTRX 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.

© 2015-2023 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.