Bitcoin’s Surge Above $7,000 Shows Market May Be Recovering

2019-12-20 20:22

Bitcoin stabilized above the $7,000 support level on Thursday, as the number one cryptocurrency continues to hold onto Wednesday trading  gains.

Altcoins moved into positive territory, with Maker, Waves, Ravencoin and Theta leading the advance.

The Crypto Fear & Greed index, which analyzes market participants’ emotions and sentiment, recovered from a 3-month low, but continues to show that traders remain extremely fearful.

The total cryptocurrency market capitalization recovered from $184 billion this morning, and is currently only $2 billion lower than the weekly opening price, as measured by TradingView. 

Maker

The recent wide-spread crypto market rally prompted a much-needed recovery in the MKR/USD pair, with bulls testing towards its 200-day moving average for the first-time since November.

A reversal pattern appears to be forming across the lower time frames, which is in line with many other major altcoins.

The $412 and $430 levels are the major upside targets. Bulls now need to perform a further breakout to confirm that a much stronger rally is in the works.

MKR/USD Daily Chart by TradingView Total Market Cap

The value of the total market capitalization recovered back towards its weekly opening price, following the strong bounce from the $166 billion level.

As expected, market capitalization and Bitcoin charts are very similar and continue to show that Wednesday’s brief plunge may have formed an important technical low.

A bullish reversal pattern is starting to take shape just like for BTC/USD, which hints that the crypto winter may end sooner than thought. 

The stabilization above $187 billion and a lack of fresh selling demand should provide a signal that the market could start to build on the recent recovery and continue to track higher.

Total Market Cap by TradingView Overall Sentiment

According to the latest data from The TIE, sentiment toward the cryptocurrency market is bullish at 60 percent.

Litecoin has the strongest sentiment among the top 10 at 80 percent. Meanwhile, Bitcoin SV has the weakest at 10 percent.

The post Bitcoin’s Surge Above $7,000 Shows Market May Be Recovering appeared first on Crypto Briefing.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95516.41 (-0.37%)
Объем 24H $66.287b
Изменеия 24h: -0.24 %, 7d: 3.59 %
Cегодня L: $93967.9 - H: $96238.42
Капитализация $1890.324b Rank 1
Цена в час новости $ 7106.47 (1244.08%)

bitcoin above moved positive altcoins trading wednesday

Источник: cryptobriefing.com

bitcoin above → Результатов: 126


Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000

Data shows the cryptocurrency sector as a whole has witnessed a high amount of liquidations following the volatility Bitcoin and others have gone through. Bitcoin Has Recovered Back Above The $63,000 Level Following the news of the US Federal Reserve cutting back on interest rates, Bitcoin has responded positively, with its price breaking above the $63,000 level.

2024-9-20 04:30


Bitcoin Floats Above $30,000, but Solana Surges 11%, What’s Next for SOL? Deep Analysis

In the dynamic world of cryptocurrency, Bitcoin continues to be a stable force. Bitcoin has been maintaining a steady course, floating above the $30,000 mark for the past six days. This stability in Bitcoin’s price, amidst the general volatility of the cryptocurrency market, is a noteworthy development and could potentially signal a period of consolidation […] The post Bitcoin Floats Above $30,000, but Solana Surges 11%, What’s Next for SOL? Deep Analysis appeared first on CaptainAltcoin.

2023-6-30 01:54


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Could quantum computing disrupt cryptocurrency encryption?

Quantum computing, an emerging technology that operates on principles of quantum mechanics, has sparked discussions about its potential impact on cryptocurrency security. With unparalleled computational power, quantum computers could eventually challenge the cryptographic protocols that underpin digital currencies, though such capabilities remain years away.

Bitcoin to crash? Robert Kiyosaki predicts BTC plunges to $60k

Financial author Robert Kiyosaki has suggested that the BTC price could crash to $60,000 as it struggles to breach the $100,000 milestone. The “Rich Dad Poor Dad” author’s analysis comes amid increasing market speculation about Bitcoin’s (BTC) next major price…

Is a Thanksgiving Crypto Recovery Underway?

The day before Thanksgiving the crypto markets have experienced notable rebounds, with Bitcoin and Dogecoin recovering from previous declines and Ethereum reaching a five-month high.