Today is Saturday, 9th October, and this is Cointribune’s Crypto analytics. You will learn about everything that’s been going in the market, and also what to expect next in our new article! If you’d like to read the previous instalment, please follow the link. Off we go!
Friday ended for Bitcoin with significant growth and a subsequent pullback. At one point, the first cryptocurrency even reached as high as $56,000, but by the end of the day BTC price reverted back to the $53,500 level. On Saturday the price started going back up again, giving traders hope of reaching the next milestone level of $60,000.
Ethereum has been trying to break higher for several days now, but bears have been suppressing buyers every time, forcing the bulls to get back to square one. At the time of this writing, the second-largest cryptocurrency is changing hands at around $3,600.
At this rate, the largest altcoin may very soon turn around and go for a support retest, which might end up as a crash of this digital asset. However, much will depend on Bitcoin’s behaviour.
The fear and greed index is floating around the greed zone. The fact that this indicator has not yet reached the values at which euphoria begins, creates a positive basis for further growth. It is still not profitable for whales to drop the price of the first cryptocurrency.
The top ten cryptocurrencies are, for the most part, in the green. The upward price action of BTC creates fertile ground for trading and investing.
Celer Network (CELR) becomes today’s gainer. The asset has already brought its holders about 30% of profits.
Terra (LUNA) becomes the loser of the day. This asset has brought about a 7% loss to its holders.
Bitcoin has finally broken above the key resistance and so far it does not appear that the bulls lack the strength to advance further. Local pullbacks are, of course, possible, but the overall market dynamics is clearly bullish. Take the chance and make money! Especially if you managed to buy assets when everyone else predicted the beginning of the crypto winter.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
|BITCOIN (BTCUSD) ₿||$30,572.75||2.48%|
|ETHEREUM (ETHUSD) Ξ||$2,105.07||4.17%|
|IMM. US (REIT)||$2,499.43||0.02%|
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