Altcoins Signal To Move Higher As Bitcoin (BTC) Struggles To Recover
After the sharp fall in the crypto markets this week, many cryptocurrencies started to recover rapidly today. After falling to $ 55,600 in the last 24 hours, Bitcoin (BTC) started to recover and started to rise again. On the other hand, altcoins have started to recover faster and are signaling that they can move higher.
Bitcoin (BTC) dropped to $ 55,600 in the last 24 hours and received very solid support from there. After falling below $56,000, Bitcoin started to rise again with the significant support it received from investors. Bitcoin is currently trading at $58,304 and has gained about 1% over the last 24 hours. If it continues to rise, it can regain what it lost in 4 days at the weekend. But first of all, it is very important that it exceeds $ 60,000. If Bitcoin exceeds $60,000, this will give more confidence to investors. In this way, it can go higher quickly. There is no challenge for Bitcoin not to hit $100,000 this year, I believe it can do it.
Considering the chart of Ethereum (ETH) in the last 24 hours, it is seen that it draws a similar chart with Bitcoin. But it seems to have risen a little more than Bitcoin. Ethereum is currently trading at $4,270, up about 5% compared to yesterday. There is resistance at $4350, if it can surpass it, it could continue higher. According to the current data, it will test this resistance in the coming hours.
Binance Coin (BNB)
Binance Coin (BNB) has been one of the faster recovering coins. BNB is currently trading at $581 and it is seen that it has increased by about 9% compared to yesterday. There was resistance at $580 and BNB just broke this resistance. It is seen that BNB has regained what it lost in the last 2 days. Everything is going well on the BNB side and it signals that it will move higher in the future. Currently, there is a resistance at $ 600, if it can break it, it can accelerate its rise even more.
HIVE is one of the rare cryptocurrencies that has not been affected by the sharp drop in the crypto market. But it can be said that the sharp fall in the crypto market has prevented HIVE from moving higher. HIVE is currently trading at around $1 and is up about 8% compared to yesterday. Things are going great on the HIVE side right now. The HIVE ecosystem and community is growing and evolving by the day. That's why I think HIVE can go even higher. HIVE ranks 162 with a market cap of $390 million. I think HIVE will be among the top 100 cryptocurrencies in a few months.
I think the sharp decline in the crypto markets that started earlier this week is short-term, so I think most of them will go back to their old prices in the coming days. Maybe there may be some regression until the end of this week, I think this will be a great opportunity for new investors. I think many cryptocurrencies offer a great opportunity for investors to buy at the Dip. Many strong cryptocurrencies, especially Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), HIVE, will go much higher in the future. Bitcoin will move higher in the coming days, but we will see altcoins rise faster. When we evaluate according to the last 24 hours, it is seen that some of the investors' confidence in altcoins has increased.
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