Since December 17, in less than three days, the price of Bitcoin increased from $ 3,181 to $ 3,776. This is more than 18 percent of its minimum price, as reported by the CCN news agency.
On cryptocurrency exchanges, such as Coinbase and Bitstamp, the cost of Bitcoin (BTC) is slightly adjusted to $ 3,700. The breakthrough of the dominant cryptocurrency above the mark of 3,700 makes analysts consider the possibility of an asset appreciation in the range of up to $ 4,200.
On Monday, when the price of Bitcoin ranged around $ 3,500, a trader with the online pseudonym "The Crypto Dog" stated that: "(...) BTC could either fall below $ 3,400 if it lost momentum, or it could potentially rise to $ 3,800."
Will cryptocurrencies be able to maintain price growth?
Starting on Monday, Bitcoin has shown strong impulses to overcome the resistance level of $ 3,800. Recall that earlier, in the first weeks of December, "digital gold" could not overcome this bar.
Analysts attribute the increase in the fall or sharp increase in the value of Ethereum (ETH), Bitcoin Cash (BCH), "digital gold" and other major crypto-assets to the lack of fundamental indicators of value and market stability. As you know, Ethereum was unable to demonstrate a high level of user activity in decentralized applications (dApps), while Bitcoin Cash is struggling to enter the tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details arena. The jump in prices for ETH, BCH and other currency protocols, such as EOS, show that today it is more convenient for traders to enter high-risk positions and they are confident in the short-term market trend.
Whether the main cryptocurrencies and the small tokens of the ERC-20 protocol can maintain a positive trend over the next weeks and maintain the price range achieved over the past few days remains unclear. But the recent positive price correction allowed the cryptocurrency market to take a breather and avoid a significant drop below the $ 100 billion mark. The price of Bitcoin rose by 18%, and the rise of the cryptocurrency market affected almost all existing digital currencies. On average, over the past three days, the total cost of the cryptocurrency market has grown by almost 25%
Editor: Yuliya Soroka