Over the last two days Bitcoin has demonstrated good growth, which immediately affected the rest of the stock market. Altcoins has gained an average of 15-20 percent of the value of the dollar and Ripple even managed to jump up to 75 percent. Was Friday the beginning of a bullish trend? Tried to find it out in Coindesk.
Bitcoin takes new heights
Most likely, the Bitcoin rebound from the support level of $ 6,100 was the result of increased demand for altcoins. Investors massively bought the main cryptocurrency to “catch the train” and don’t miss best price top 10 coins on Coinmarketcap.
A large purchase of bitcoins moved in a Ripple — on the background of positive news and increased hoaxes around the project XRP showed good growth. Increasing capitalisation of the coins did not go unnoticed — yesterday she knocked Ethereum with the second position of the ranking Coinmarketcap. However, finally gain a foothold in a new height Ripple and failed.
Now altcoins are good soil for further growth. If they continue to attract public attention, the Bitcoin too expensive. Daily chart the main crypto-currencies looks very promising.
The asset has formed a double bottom at the support level and has broken through the resistance line, so that soon we can expect the growth of Bitcoin up to $ 7050. If the media won’t appear negative news, bitcoin price will rise to this level by the end of the weekend.
If the resistance in the area 7050 will be broken, does not exclude the growth to the local July high at $ 8,500. The bearish scenario is possible after a sharp drop below 6600 dollars. Fortunately, while it is very unlikely, as even the extension of the term of consideration of the ETF to the SEC had no effect on Bitcoin. This clearly demonstrates the maturity of the market.
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