Bitcoin
BTC$19 140.20

0.69%

Ethereum
ETH$1 052.12

-0.25%

Tether
USDT$0.999073

0%

USD Coin
USDC$1.000180

0.03%

Binance Coin
BNB$216.97

-0.05%

Binance USD
BUSD$1.000661

0.08%

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 60.8% 88 $19 140.20 0.69% -10.68% $365 286 501 881 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 55.6% 93 $1 052.12 -0.25% -14.42% $127 732 400 345 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999073 0% -0.04% $66 020 314 113 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000180 0.03% 0.02% $55 812 644 858 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 61.2% 75 $216.97 -0.05% -9.70% $35 426 838 093 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $1.000661 0.08% 0.04% $17 558 830 487 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 64% 69 $0.316937 1.69% -12.93% $15 321 697 757 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 65.6% 71 $0.448043 0.04% -11.32% $15 122 596 829 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 66% 69 $32.98 0.94% -19.51% $11 325 363 890 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 70.4% 62 $0.066106 1.00% -14.30% $8 770 292 754 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 92% 1 $1.000314 0.02% 0% $6 923 688 572 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 69.6% 67 $6.72 0.35% -17.69% $6 633 125 820 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 62.4% 74 $0.065691 3.85% -4.12% $6 075 697 886 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 70% 54 $5.88 2.75% 0.12% $5 608 593 130 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 68% 63 $0.000010 1.24% -13.41% $5 530 696 233 SHIB 7 days price change

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