Bitcoin
BTC$16 999.10

0.30%

Ethereum
ETH$1 258.79

-0.89%

Tether
USDT$1.000138

0.01%

Binance Coin
BNB$289.87

-0.40%

USD Coin
USDC$1.000102

0.01%

Binance USD
BUSD$1.000239

0.01%

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.


Related

Total crypto market-cap hits $850M as Bitcoin and altcoins recover from FTX’s collapse
Total crypto market-cap hits $850M as Bitcoin and altcoins recover from FTX’s collapse
Bitcoin’s bottom might be below $15.5K, but data shows some traders turning bullish
Bitcoin’s bottom might be below $15.5K, but data shows some traders turning bullish
Copy Trading Strategies: How to Start Successful Copy Trading
Copy Trading Strategies: How to Start Successful Copy Trading
Institutional investors are buying through crypto winter
Institutional investors are buying through crypto winter
How Much Will BTC Be Worth on October 9, 2024?
How Much Will BTC Be Worth on October 9, 2024?
Bitcoin's shy uptrend
Bitcoin's shy uptrend
Powell did not scare crypto
Powell did not scare crypto
Bitcoin completes consolidation in a triangle
Bitcoin completes consolidation in a triangle
Bitcoin Is Still Gold. Although Digital One
Bitcoin Is Still Gold. Although Digital One

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76.4% 45 $16 999.10 0.30% 2.81% $326 793 694 340 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 75.6% 50 $1 258.79 -0.89% 3.82% $154 042 450 353 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $1.000138 0.01% 0.06% $65 505 283 273 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 70% 55 $289.87 -0.40% -7.09% $46 371 221 042 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 93.2% 1 $1.000102 0.01% -0.01% $43 358 494 798 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000239 0.01% 0.07% $22 157 473 654 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 76.4% 44 $0.388809 -1.23% -3.85% $19 541 690 215 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 65.2% 79 $0.103561 1.75% 1.87% $13 739 497 371 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 66.8% 68 $0.320391 -1.17% 1.19% $11 037 404 828 ADA 7 days price change
10 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
11 Polygon (MATIC) MATIC Polygon predictions 64.4% 69 $0.912162 -1.15% 6.57% $7 967 115 477 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 71.2% 56 $5.53 -0.48% 2.89% $6 315 400 348 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 93.2% 1 $1.000046 0.02% 0.06% $5 687 378 055 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 60.8% 77 $76.27 -0.54% -0.95% $5 472 754 389 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 71.6% 50 $0.053237 -1.60% -0.26% $5 412 950 383 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.

© 2015-2022 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.