Crypto Investors Rejoice As Bitcoin Price Surges Above $10,000, And Ethereum Ab

[G.Belaci]

The overall cryptocurrency market is surging northwards as Bitcoin and a majority of the altcoins are trading in green today. The world’s strongest cryptocurrency is showing strength at this stage jumping by more than 5% in the last 24 hours.

At press time, BTC is trading at $10,310 levels with a market cap of $190 billion. As per the WorldCoinIndex data, the 24-hour daily trading volumes have also crossed $7 billion at the time of writing this article.

This is for the third time in 2020 that Bitcoin has managed to cross the $10,000 mark. However, every time it did so, the BTC price has seen a major pullback from those levels going back close to $9,000 levels.

If we see the last week’s chart, Bitcoin has surged over 12% in the last one week to move above $10,000. However, the world’s largest cryptocurrency is seeing a major resistance of $10,500 and it has failed twice in 2020 to breach it.

If Bitcoin manages to breach it this time, we can see it setting up a new support here and start a bull run from there onwards. While Bitcoin has been said to be a ‘digital gold’ and a safe-haven against the stock markets, it hasn’t turned out that way.

In fact, the BTC price has been moving in line with the stock markets for this year. During the stock market crash of March 2020, the Bitcoin price crashed below $5000 levels, a whopping 50% fall from its mid-February high of over $10,000.

Bitcoin has managed to recover its losses since then. At the present levels, Bitcoin is trading at nearly 40% premium year-to-date.

On the other hand, the world’s second-largest cryptocurrency and Bitcoin competitor Ethereum (ETH) has also managed to show strength over the last week. In the last week, Ethereum (ETH) price surged more than 25% to cross above its crucial milestone of $300 over the weekend.

At press time, ETH price has surged 4.82% in the last 24 hours and is trading at $326 with a market cap of $36.15 billion. The sudden surge in the ETH price after the network’s daily transaction volumes reached its all-time-high last week.

The latest price surge amidst a significant surge in the DeFi activity on the Ethereum blockchain. Decentralized Finance (DeFI) contribute to a majority of the daily trading volumes on the platform as on date.

Ethereum developers have accelerated their work for the ETH 2.0 release which provides massive scalability boost over the existing network. While the existing Ethereum network can process only 15 transactions per second, the ETH 2.0 will hold the capacity to process 1000s of transactions per second.

The Ethereum 2.0 testnet launch is expected to happen next week on August 4.

Source: https://www.worldcoinindex.com/news/crypto-investors-rejoice-as-bitcoin-price-surges-above-10-000-and-ethereum-above-300

[ansi]

I personally wasn't expecting it to break the 10k to be hones,t BTC made it again. The best part is that breaking 10k may lead it the $12500 at least before thinking of selling it.
If the price reach the $10500 & close above, it means the next target is 11k to 12.5k as i said before.
Always remember to put your stop loss ready in the $8900 mark.

[ICOselector2018]

Honestly speaking, this is least from surprising because everything was in-line for this to happen. However, the thing we are missing is names like Stellar, which are underestimated a lot. But this time if one goes with XLM price prediction, it will be easy to note the potential that is there for all.

It only helps with supportive option like mine in ChangeNow, which is not just easier to use but even highly beneficial too. So such options are truly how one can rejoice in a true manner.