Although the cryptocurrency While prices have risen slightly less rapidly in recent days than at the beginning of this month, the market is still clearly in an upward trend. Total market cap has grown from $1.9 trillion to $2.4 trillion this week.
Bitcoin
Bitcoin (BTC) was able to touch $56,000 on Friday and the price seemed to be on the verge of a breakout for a while. However, the resistance turned out to be a bit too big and bitcoin corrected back to USD 54,000 by the end of the day. Yesterday, bitcoin recovered to $55,000, but the price has not yet managed to break through this.
Until this morning then. Bitcoin suddenly jumped again a few hours ago and briefly touched $56,250, the highest price since the May 12 crash. The bitcoin price then corrected slightly downwards, but for the time being it remains above $55,500, with which bitcoin still remains in an upward trend. BTC is up 17% this week, the best performing price among the top 10 largest crypto.
Before the price breaks out further towards $60,000 and the all-time high (ATH) at $64,800, bitcoin may have to struggle with resistance around $58,000 first. A small pullback however, is also still lurking, especially with signs of an overheated futures market.
???? #Bitcoin $ BTC Realized Price just reached an ATH of $21,648.78
Previous ATH of $21,647.79 was observed on 09 October 2021
View metric:https://t.co/1lFrCHsntP pic.twitter.com/70RWxs2OK8
— glassnode alerts (@glassnodealerts) October 10, 2021
Money moving on Bitcoin’s blockchain is back near all time highs.
It’s presently doing ~$190k per second. Compare this to $130k per second by Visa for US customers and $55k per second for Mastercard.
Lightning Network not included. pic.twitter.com/J3Baop3LXE
— Willy Woo (@woonomic) October 9, 2021
Altcoins
It works ethereum (ETH) not yet to rise above Friday’s peak. The ether price then briefly touched $3,675, but then corrected back to $3,550 and even dropped to $3,500 overnight. This morning, ether has bounced back to USD 3,600 but does not appear to be able to break out of this yet. Also cardano (ADA) currently struggling to break through $2.30.
Ripple (XRP) on the other hand, is suddenly on the rise. The XRP price started rising sharply from $1.07 yesterday morning and peaked at $1.22 this morning. That’s an increase of 14% in 24 hours. Polkadot (DOT) also makes a nice jump. The DOT price rose in the past 24 hours from $33.7 to $37.4, an increase of 11%, but is now falling slightly.
Right now harmony (ONE) is suddenly skyrocketing. The ONE price just shot from USD 0.212 to USD 0.248, which is a 17% increase in one hour! Harmony is therefore 50% in the plus this week. The hardest riser in the crypto market today is stacks (STX). STX was still at $1.44 yesterday morning and just touched a high of $2.21, up 53% in a day.
Still, shiba inu (SHIB) is clearly the winner this week. Despite the fact that the SHIB price has been corrected by 7% in the past 24 hours to $0.000026, SHIB is still up 230% this week.
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