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Bitcoin Sets New ATH Above $25,000: Bitcoin Dominance Eyes 70% (Market Watch)

by CryptoPotatoDecember 26, 2020

Bitcoin’s Christmas continued with a bullish performance as the cryptocurrency has marked another all-time high – this time breaking above $25,000. Most altcoins have also added value, including Litecoin – a 15% surge for LTC has taken it to a new yearly high of about $130.

Bitcoin Paints A Fresh ATH Above $25K

After dumping to $22,700 on December 21st, just five days ago, BTC’s price performance has been quite impressive: The asset overcame $23K and $24K in the following days and, despite high fluctuations, averted serious price drops while the altcoin market was getting a beatdown.

In the past 24 hours, BTC doubled-down on its bullish performance. The cryptocurrency firstly jumped to $24,700, which became the new all-time high at the time, before initiating another remarkable leg up.

The second one resulted in tapping the coveted $25,000 level not long ago. Consequently, this became the new all-time high. Despite slightly retracing since then, bitcoin still trades around $24,800, as of writing these lines.

The technical indicators suggest that BTC has to overcome the psychological level at $25,000 decisively before potentially challenging the next resistance lines at $25,400 and $26,000.

If the trend reverses and bitcoin heads south for a correction, then $24,700 (prior high), $24,370, $24,000, and $22,700 might serve as initial support levels.

New YTD Record For LTC: BTC.D At 70%

Most alternative coins have marked minor gains in their USD value; however, they continue to lose against the rising Bitcoin. The Bitcoin share over the crypto market, known as the Bitcoin Dominance, is on its way to 70%, which is a 1-year high. Even though new projects are emerging, Bitcoin’s ROI is beating most of them.

Ethereum has added 3% and has risen above $620. Bitcoin Cash (4%) sits at $315, Binance Coin (2%) trades at $33, Chainlink (3%) is close to $11.5, Polkadot (1%) is above $5.1, and Cardano (0.4%) is at $0.15.

Litecoin is the most impressive performer from the top 10 with a surge of 15%. As a result, LTC has marked a new yearly-high of nearly $130.

In contrast, Ripple’s native coin continues with high fluctuations after the SEC charges. XRP plummeted to $0.21 yesterday before suddenly skyrocketing to $0.37. Nevertheless, Bitstamp announced that the veteran exchange will halt XRP trading for its US customers, and the asset has tanked to $0.30 again.

Cryptocurrency Market Overview. Source: Quantify Crypto

Further gains are evident from THETA (10%), HedgeTrade (8%), CyberVein (8%), SwissBorg (7%), Monero (6%), ICON (6%), and Quant (6%).

The crypto market has added another $30 billion in a day and sits above $670 billion.

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Cryptocurrency charts by TradingView.

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Market Watch: Ripple (XRP) Crashes 20% and Loses The 3rd Spot to Tether

by CryptoPotatoDecember 23, 2020

A few days after the price dip beneath $22,000, bitcoin has recovered most losses and even took another swing at $24,000 earlier today. Most altcoins have remained relatively steady, apart from XRP. The recently announced charges from the SEC have plummeted the token’s value.

Bitcoin Eyes $24K

Bitcoin has been on a wild ride in the past several days. It began by painting a new all-time high of about $24,300, but the subsequent rejection drove the asset down by more than $2,000 in hours.

BTC initially bounced off and reclaimed $23,000, but it was short-lived. Nevertheless, bitcoin initiated another impressive leg up in the past 24 hours. At the time of this writing, BTC is trading at around $23,500.

Naturally, the most significant resistance to consider ahead is the current all-time high, though the markets are particularly volatile and extreme caution is advised.

Alternatively, the support lines at $22,700, $22,300, and $21,950 could assist in case of another vigorous price drop.

btcusd_chart — BTC/USD. Source: TradingView

Stalling Alts, Plummeting XRP

Most alternative coins have been rather calm on a 24-hour scale. Ethereum has registered minor gains and has increased above $616. Binance Coin and Polkadot have also expanded to above $33 and nearly $5, respectively.

Litecoin has gained the most from the top ten with an 8.7% surge to $110. In contrast, Cardano and Bitcoin Cash have lost some steam.

However, Ripple has continued to dump in value. As reported yesterday, the SEC pressed formal charges alleging that the payment processor conducted a $1.3 billion unregistered security offering. As a result, XRP’s price has nosedived by more than 21% in a day to $0.36.

quantify_heatmap-min — Cryptocurrency Heatmap. Soource: QuantifyCrypto

THETA is the most impressive gainer with a 12% surge, and the asset has exceeded above $1.1. Monero (6%), UNI (6%), Nexo (5%), NEM (5%), THORChain (5%), Kusama (5%), and MaidSafeCoin (5%) follow.

In contrast, Stellar has dropped by 7%, HedgeTrade by 5.5%, and Ocean Protocol by 5%.

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Cryptocurrency charts by TradingView.

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Bitcoin Consolidates Before Next Move: Augur Leading DeFi With 20% Surge (Market Watch)

by CryptoPotatoDecember 19, 2020

Bitcoin’s highly-volatile days continued with wild moves of almost $1,000 that took it from $23,300 to $22,400 and vice versa. Most large-cap altcoins have remained relatively calm, with Ethereum trading mostly around $650. Binance Coin, though, has increased by 5% and finally trading above $30.

Bitcoin’s Price Sideways Action

As reported recently, bitcoin initiated a massive bull-run following consolidating around $19,000 for a few days that resulted in breaking into uncharted territory above $20,000.

The primary cryptocurrency doubled-down on its bullish week and continued towards a new all-time high of nearly $24,000 on Thursday.

The high fluctuations continued in the past 24 hours as well. BTC traded around $23,300 before the bears took control and drove it down to an intraday low of beneath $22,400.

However, bitcoin refused to stay there and recovered all losses in the following hours. Nevertheless, the asset has slumped slightly since then and currently trades below $23,000.

From a technical perspective, BTC’s next resistance lines are situated at round psychological levels – $23,000, $24,000, and $25,000. In contrast, the support lines at $22,250, $21,400, and $20,700 could assist in case of a price breakdown.

BNB Breaks Above $30: Augur Soars 20%

The alternative coins followed bitcoin’s impressive run during the week and some marked yearly records. Ethereum charted $675, and despite retracing slightly, trading safely above $650.

Ripple has dipped below $0.60 after a 3% decrease in the past 24 hours. Bitcoin Cash, Chainlink, and Cardano have remained essentially stagnant since yesterday. Litecoin pumped to a YTD record of $112 before losing some steam to $107.

Binance Coin has gained the most from the top ten with a 5% surge. As a result, BNB has jumped to $32.

The first ERC-20 prediction platform is up 20% over the past 24 hours, followed by a huge amount of volume – $200 million according to CoinMarketCap. Earlier today, Augur reached over $26, which represented a surge of over 60%.

NEM is the most impressive gainer on a 24-hour scale. XEM has added another 13% of value and trades above $0.30. The asset has increased by more than 30% in a week.

UNI and THETA have also surged by a double-digit percentage (around 10%) to $4.10 and $0.92, respectively. Lisk (9%), SwissBorg (8%), Nexo (8%), Aave (8%), and Terra (8%) follow.

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Cryptocurrency charts by TradingView.