Bitcoin
BTC$66 123.34

0.99%

Ethereum
ETH$3 555.02

4.45%

Tether
USDT$0.999468

0%

Binance Coin
BNB$606.32

1.74%

Solana
SOL$144.58

2.21%

USD Coin
USDC$1.000022

0%

Is the crypto market too overcrowded? Not yet


29 Oct 2021

#Bitcoin

The cryptocurrency market moved into a correction phase after Bitcoin’s dip. From the US session until the beginning of active trading in Europe, the first cryptocurrency steadily traded below $60K but jumped above this round level from the start of the European session. Nevertheless, for the week, the coin is losing almost 10%. If we are seeing a local bottom now, the news is good enough. Some believe what is happening is a quick balancing process and preparation before the push for new highs. Others think it’s the beginning of a broader correction that will take BTC to $45K-$50K. In case Bitcoin falls to these lows, both these optimists and pessimists will buy.

Ethereum’s blockchain has received another update, and although the final phases of the roadmap are still a long way off, it is always seen positively by crypto market participants. Despite the retreat from the highs, the second cryptocurrency is holding above $4K.

Total cryptocurrency capitalisation is $2.5 trillion, near historic highs. Bitcoin’s dominance index is at a comfortable value of about 44.5%, reflecting the broad demand across the crypto market.

BTC/USD Daily Chart

The Crypto Fear & Greed Index has surrendered ground recently but remains firmly in “greed” mode. The RSI for BTCUSD on the daily chart is retreating further from the overbought area. Both indicators point to a widening space for further Bitcoin growth.

Several altcoins stood out firmly and are now at the centre of the news agenda. We are talking about the confrontation between the two meme tokens, Dogecoin and Shiba Inu. At one point, SHIBA INU’s capitalisation exceeded $50 billion, pushing XRP out of 7th place on CoinMarketCap. Of course, such episodes of growth are followed by a correction. Nevertheless, the situation is quite remarkable. The community considers SHIBA INU to be the “killer” of Dogecoin. But the crypto market space is quite enough for these two projects to coexist in harmony, with speculators switching from one to the other.

Another bright hero of the last few days was a 1inch token, which at some point jumped in price by 100% within a day. The coin got help from such fundamental factors as listing on the Upbit exchange and increased user activity.

As before, the crypto market continues to generate lightning-fast success stories attracting more investors to the sector, hoping to make quick and big money. Crypto casinos continue to work and win. Before the end of the year, we may see a new episode of ups and downs in the sector, and it looks like a new Bitcoin price high will cause an explosive demand for digital assets.


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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 87.2% 16 $66 123.34 0.99% -4.79% $1 303 451 857 959 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 75.6% 41 $3 555.02 4.45% -3.46% $427 135 531 951 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.999468 0% -0.04% $112 500 110 914 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82% 33 $606.32 1.74% -11.61% $89 483 264 510 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 82.8% 28 $144.58 2.21% -9.57% $66 753 466 287 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.8% 3 $1.000022 0% 0% $32 442 766 908 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 80.4% 27 $0.493733 5.33% 0.08% $27 436 964 277 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 73.2% 49 $0.136503 2.35% -6.62% $19 755 088 075 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 74.8% 51 $7.97 0.86% 13.14% $19 398 824 296 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 80.8% 29 $0.413290 2.36% -4.92% $14 764 940 323 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 56.4% 94 $0.000021 3.96% -11.04% $12 205 332 764 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 75.2% 49 $30.08 2.56% -6.97% $11 831 150 649 AVAX 7 days price change
13 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 91.6% 1 $66 245.61 1.22% -4.60% $10 151 195 405 WBTC 7 days price change
15 TRON (TRX) TRX TRON predictions 85.6% 19 $0.115284 -0.54% 0.49% $10 062 292 912 TRX 7 days price change

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