Cryptocurrencies Market Cap Above 500 Billion !
The incredible recovery in cryptoland continues with Bitcoin leading the rally. Currently the market cap is 508 Billions and BTC has added another 9% to it's value after a strong and steady rise. All major coins are in the green today and definitely people have started putting cash to work.
Coinmarketcap.com
Yet again I was very surprised by the strenght of the bulls in this rally. My expectations for a difficult break of the 10,700 level didn't hold (although there is enough time for bears to react in a way).
www.tradingview.com
Obviously the next big thing is to break 11,000$ and the 50-day MA is also around 11,455$. If this bullish momentum keeps ob building , we might see erasing all previous losses in a matter of days. (Although I think it is very unlikely)
What's Next ?
- The 11,000$ level looks like it will be tested
- Very strong resistance expected at 50-day MA ( 11,500$)
What's your opinion and expectation for this rally ? Also are you opening new positions ? Share with us in the comments :)
bullish and bearish scenarios.
If this resistance breaks, I see the next final target at ~$15K (bullish scenario).
If resistance does not break, I see a correction to ~$6K (bearish scenario).
interesting view. Hope first scenario happens :)
I wish.
After breaching 10250 reached 11250 normal returned to the 10250 to test it and rebound to go targets 11600-12200
Important to break the 10250 down we may see 9800-9260 The most important not to break 9050
Today the market cap seems something dull, However, I expect that will recover again over $500B. Very soon.
Hopefully it will :P
Were you ever really worried? Massive correction or not the progress marches on. So happy to see it starting again so soon! January blues are over!
I wouldn't say worried. I was surprised by the speed of the recovery and thought investors have become more or less more picky. I guess not.
Its all math though bud this isnt about investors anymore, its about adoption. the fibonacci sequences discovered in the btc and blockchain trends signal to that as the case. They could pummel it all they want they cant stop it.
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Completely inevitable... but the future seems even sweeter. Resteemed!
500b was nice to see