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Bitcoin Strongly Heads Towards $20k While Some Still Await $15k Retracement

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Bitcoin Big Move is on the way!

Bitcoin provided with an opportunity to stack more coins in recent times by visiting the levels below $16,300. However, within a couple of days, the Bitcoin price rebounded and crossed $18K, heading strongly towards $20K

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As Coinpedia had reported earlier that, a double bottom pattern had formed and hence a long jump was expected. In the 4-hourly Bitcoin price chart, the trend flipped completely bullish with a maximum of losses recovered within just a couple of days.

Some analysts believe Bitcoin needs to close the highest monthly close in order to surpass the current ATH. One of the crypto analyst Lark Davis predicted that hitting $20K will be very fast. 

Surprisingly, yet another analyst, The Moon predicts that Bitcoin would break $50K in coming 6 months.

Yet some of the other analysts still believe Bitcoin could revisit below $15K to fill the CME gap around which was created recently.

Institutional Investors Accumulate More Bitcoins

Bitcoin and the other altcoins experienced a drastic dip in the past week, where-in the Bitcoin price fell by almost $3000. The price which was very close to its All-time high suddenly crashed to $16,200 levels. Hence, providing an opportunity for many to ‘buy at the dip’.

As per a crypto trader and investor, Crypto Rand, Grayscale bought additional 7300 BTC probably at the dip moments, bringing to a total of nearly 100,000 BTC. Also other institutions like PayPal, Square, etc also acquired more bitcoins than it was mined in the previous month, which is expected to continue in coming days. 

Therefore, more bitcoins held by the big institutions may cause a serious squeeze with the demand, resulting in price pump. At the time of writing, Bitcoin price stands at $18,495 with a price jump of 4.07 percent in the past 24-hours.

The RSI indicator is pretty bullish and the technical indicators point out towards ‘buy’ signal. Therefore, most of the indicators suggest Bitcoin price to surge in the coming days, however, small dumps may also be expected.

As mentioned earlier, it is very prominent for the Bitcoin price to record the highest monthly close which would give a larger push towards $20K.

Source: https://coinpedia.org/news/bitcoin-heads-towards-20k/

Coinpedia

IOST Price Rally Magnifies, CRV Price, and TRU Price Too Swell Remarkably

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The crypto market again crossed the $1 trillion milestone with the swelling volumes with the majority of the crypto assets in the past couple of days. With the Bitcoin price poised to form new all-time highs and Ethereum price just 14% less than its ATH, many other altcoins rally towards new highs.

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The bull run, however, intensified the jump of many assets like Cocos-BCX with a 43% hike, Cosmos with a surge of 20.19%, KAVA.io with a 14.71% hike, REEF with a jump of 40.77%. Among them are some tokens which manifested a strong momentum to surge with remarkable gains, below mentioned are some of them.

IOST Price jumps with a massive 70% gains

IOST Chart

IOST price driving power enhanced in the early hours of the trading intensifying the trading volume with a massive 231.42%. The market capitalization also had a long jump of more than $150 million from nearly $219 million to $395,844,223 within a very short timeframe.

The IOST price at the time of writing is $0.02449 with a huge gain of 73.31% in the last 24 hours. Having a circulating supply of 16,374,175,762 out of 90 billion total supply and  with a continued pace, the IOST price may even hit the ATH at $0.1365 soon.

Technical Indicators

  • The resistance levels are formed at $0.07
  • The support levels are formed at $0.013
  • The market sentiments are extremely bullish and hence the indicators point out at a ‘buy’ signal.

Curve DAO Token(DAO) price up by 40% 

It’s the second consecutive surge with the CRV token price which registered a 30% price surge in the previous working day and another 40% surge at the time of writing. The spotlight of the surge remained the trading volume which swelled more than 400 percent to touch $252,228,252.

However, it has to rally like a monster to hit the ATH at $60 as the CRV price at the time of writing is $1.01 with a jump of 41.15% in the last 24 hours. The circulating supply is just the 6% of the max supply of 3,303,030,299.

Technical Specifications

  • The resistance levels are formed at $1.142
  • The support levels are formed at $0.7
  • The indicators point towards a ‘buy’ signal

TrueFi(TRU) Price rallies more than 16%

CRV price chart

The TRU price rally initiated a couple of days before where the price kept ralling on an average of 15 % per day. The trading volume also swelled nearly 86% to touch more than $4 million and the market capitalization of the asset also attained a 16.34% hike to touch $34,944,262.

At the time of writing, the TRU price is $0.2501 with a jump of nearly 17.17% in the last 24 hours. However, it is just 30% short than the it’s All-Time high at $0.3671, which may be accomplished in the coming days.

Technical Specifications

  • The resistance levels are formed at $0.29
  • The support levels are formed at $0.22
  • The technical indicators are neutral.

Source: https://coinpedia.org/news/iost-crv-tru-price-rally/

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1000 More YFI Coins Proposed to Be Minted, How Will the YFI Price Be Impacted?

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Yearn Finance’s Limited Total Supply at the Stake!

Yearn Finance, the token due to which the DeFi space attained mainstream attention, mainly due to its limited supply of 30,000 tokens is at threat. A proposal that intends to compensate the contributors by minting more YFI tokens is under discussion on the governance forum.

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Infact, one of the members of the community has wholeheartedly committed to match up 20 YFI tokens for this cause. Moreover, if the newly minted tokens which will be worth more than $32 million at the press time will be kept locked in a multisig would probably make many people in the YFI community uneasy.

The reason is much simpler, more influx of liquidity into the platform might hammer the YFI price which may slide down as many of them may just walk out of the community selling off their holdings. However, not many people are in favor of the proposal and they hope if the rewards are necessary then let them be in the form of existing YFI tokens or fiat.

Also Read: Top Reasons Why YFI Price Might Rally to Highs by 2021

Too Many Ascending Triangles, What Awaits the YFI Price Ahead?

The YFI’s roller coaster is one of the most thrilling rides not only in the DeFi space but the entire crypto space. This token reached its highs above $40k twice and also declined to as low as $7K too, which clearly manifested the capacity of the token to fight to regain lost positions.

YFI price

Currently, the YFI price is $31747 at press time, trading in a very narrow range and formed as many as multiple ascending triangles and some fake breakouts. In some instances, the price broke the resistance line of the triangle and also broke down below smashing the support line of the triangle.

However, currently the price is yet again trending in an ascending triangle where-in a upward break out is the need of the hour. The rebound from the support levels may end up the token to surge to new highs, heading strongly towards it’s ATH, else may slip to the lowest levels below $30,000.

However, the coming couple of hours are pretty decisive for the YFI price which showcases the upcoming movements of the YFI price. One of the popular analysts CryptoBoss believes the YFI bull rally will continue as the triangle breakout forecasting an uptrend is imminent.

Interesting Read: BTC and YFI Competing to Be Exorbitant, Which Will Hit $50k First?

Source: https://coinpedia.org/news/1k-yfi-will-be-minted-yfi-price-impact/

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Monero Price Prediction- Will XMR Price Hit $300 in 2021?

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Monero remains one of the top gainer cryptocurrencies since the beginning of the year 2020. As of present, the coin is up almost 50% Year-Till-Date (YTD) among many others which are trying to keep their heads above water. 

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As a major feature of the crypto sphere, every cryptocurrency must present evident use cases and exhibit clear characteristics that make it unique from others. For Monero, security and privacy are the answer to these top queries. 

But what can we expect from Monero in the future?  Will the XMR price surge or plunge in 5 years?

In this Monero price prediction article, we will look into the journey of future price prediction and its possibilities. Let us look into detail in this Monero price prediction now.

Table of contents

Overview

  • Cryptocurrency: Monero
  • Token: XMR
  • Market cap: $2,94,75,99,863 USD
  • Circulating supply: 1,78,13,581 XMR
  • All time high: $495.84 USD (Jan 07, 2018)
  • All time low: $0.212967 USD (Jan 14, 2015)

What is Monero?

Monero (XMR) is a well-known open-source digital currency. It was created in April 2014 and concentrates on fungibility, privacy and decentralization. Moneyo is known to utilize an obfuscated public ledger, which means anybody can publish or deliver transactions. However, no external viewer can predict the source of such transactions, its amount or destination. Monero utilizes the Proof-of-Work consensus to allocate new coins and compensate miners in order to secure the system and verify transactions.

XMR with its own block explorer appeared to exhibit all these features and with a high level of anonymity. Monero was coined out to be the most preferred coin of traders and Cryptocurrency beginners.  XMR price has shown rapid growth and in the times when bitcoin and Ethereum add values to investment, monero aims to be another great choice. 

Monero (XMR) Technical Analysis

2014-15

In 2014, Monero was launched. Monero did not see much success during its first two years. The coin behaved brilliantly in mid-2016 and 2017. The coin that was $12 in January 2017 hit the height of $494 in January 2018. In comparison, the price of Monero also saw a steady decline since January 2018, along with numerous other cryptocurrencies.

2016

In the second half of 2016, Monero saw a big price spike. By September of that year, the coin had unexpectedly soared to $14. Then, Monero underwent a gradual price spike in the last quarter of 2016, starting in October, which escorted rates into its first $50 by late November. 

2017

Hitting 2017 with a $60 price tag, Monero failed to bow to the immediate bear markets, which saw most big cryptos plunging into the year as early as possible. The highest cryptocurrency had touched a new high was at $100 by the last quarter of the year. However, the price reached $200 in one-way bull traffic in October, which later propelled it in December to $300.

2018

Prices had reached $500 by January of 2018 to record it’s All-Time-High price near $600. Before the close of the first quarter of the year, however, a major bear market started to set in and rates plummeted in March to $200. At the end of 2018, successive purchasing and selling pressures, collapsed Monero’s price to $45. 

2019

In January 2019, Monero (XMR) was valued at about $46. Its price rose and by mid-June it managed to peak at around $120. With XMR closing the year near where it had started, the second half of the year saw a steady fall.

2020

Beginning the year 2020 at about $30 in January, Monero initially suffered a breakout of the $60 resistance very early on in the year, In mid-January, already posting 50 percent gains, the sellers conducted another big attack in which the stock soared to $100.

By mid-February, however, a turning point appeared as the bears took advantage of the price to pull it down. The initial success took the market to $80 and prices were still selling at $60 again by early March

Another big bearish attack at the end of the first quarter in March saw prices crash to $35 where the bulls take turns again. There has since been a progressive bull run, which so far has doubled the price. XMR reached $46 by the end of March.

Monero was traded at $49 by the start of the second quarter in April. Significantly, the price started to pour further as XMR climbed to $62 by the end of April. XMR continued the trade at $64 by early May with little bit of improvements.

With certain fluctuations, the price hit $67 at the end of May. Later on XMR was traded between $67 and $71 until mid-July. Surprisingly XMR climbed to hit $80 by the end of July. Notably, the price reached the $90 mark by early August.

Drastically the XMR moved to $102 by the mid August and further plunged to $94 by the end of August. Monero failed to perform efficiently in September as it continued to suffer with the price plunge. Later on the price began to move upwards and $102 in the first week of October and started to surge rapidly thereafter.

XMR reached $132 by the end of October.  Monero continued the trading at $125 by the start of November and further suffered certain fluctuations thereafter. As the expansion of the Bitcoin price rally, XMR managed to trade at $125 at the end of November. Later on, the price effectively started to surge in the month of December by hitting the $162 mark at the end of 2020.

Monero (XMR) 2021 Price Prediction

Monero initiated the year 2021 with its price trading at $158. It might reach $185 by the end of January. The price might suffer certain fluctuations in March and April.  The price may reach $230 by October and by the end 2021 XMR might hit the  $270 mark.

Monero Price Prediction 2022

Monero might commence the year with a trading price of $272 and may plunge to $255.55 in mid-January and $244.45 at the end of January. The price again might reach the mark of $275 by the end of August. The privacy coin could trade at $281.65 by the end of October.  The price might go up at the end of 2022 and may hit $340.

Monero Price Prediction 5 Years

XMR might surge effectively and may hit the $650 mark in the 5 years, XMR might experience a rise like never before. It is expected that in 2023 XMR might make it to the $430 mark. Monero might reach around $690 by the end of 5 years.

Monero (XMR) Market Prediction

Let us consider the Monero (XMR) price prediction from major distinct sources, which will give us a fairer idea:

1) Trading beasts

Trading beasts predicts that Monero can reach around $150 within the end of the year which means and could roughly reach about $400 by 2021.

2) Crypto Ground

Crypto ground is a cryptocurrency prediction website which states that Monero might reach $150 by the end of 2020. In 5 years, XMR has a good possibility that it might reach $496.82, might even reach the $500 mark if the market is calm enough.

3) Oracle Times

Monero is going to be one of the top 3 performing cryptocurrencies in 2021 according to oracle times and the performance might be thoroughly maintained. Because of the privacy policy, Monero is gaining worldwide acceptance.

Our Monero Price Prediction

With a trading price of $158, Monero starte the year 2021. As per our analysis XMR might trade at $190 by the end of January with specific fluctuation. The price might hit the mark of $275 by the end of 2021. XMR might be a profitable investment in the future. XMR may hit the $780 mark in the future.

FAQ

Is Monero a good investment in 2021?

Yes Monero is definitely a good investment as it may reach a trading value of $270 by the end of 2021. 

What will be the price of Monero by the end of 2021?

XMR price might trade between $250 and $270 by the end of 2021..

Is Monero’s privacy policy legal?

Monero is a privacy-oriented crypto that is untraceable

Source: https://coinpedia.org/price-prediction/xmr-monero-price-prediction/

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Popular Analyst Predicts Huge Polkadot Bull Run! DOT Price Poised to Hit $100

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Dot Price to Hit More Than $40 in a Month

Polkadot price is showcasing a comparatively powerful performance than Bitcoin after it launched it’s own parachain. Having a strong fundamentals and the protocol being sophisticated, the DOT price is expected to touch $43 by the end of January 2021 as predicted by analysts, ich1baN.

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However, the Polkadot price rally is expected to hit new highs in 2021, marking a profit gain of more than 10 times. One of the popular analysts,Mr Business, believes DOT price may hit $100 as the marginal cost(MC) which  is the initial expenditure to set up a new cryptocurrency, of DOT is 12 times more than that of Ethereum. And if Ethereum is poised to hit $10000 in 2021, then Polkadot may also hit $100.

Moreover many other analysts also have set their DOT price target at $100, and in fact some believe DOT price may hit $500 also.

Also Read: PolkaDot Price Surges High, Market Cap Hits $10 Billion

Polkadot Price Analysis

DOT chart

DOT price initiated its bull rally with a major boost a couple of days before which carried the price from $8 to more than $11 within hours. However, a small correction face was awaiting for the asset that pulled the price close to $10.7.

Surprisingly, the plunge was short-lived and the rally continued like a giant to form a new all-time high at $14.86. Nevertheless a small correction again dipped to $13.44 but the asset balanced the stumble profusely and stood strong above $14. 

As the DOT price formed new highs, it just flipped XRP and gained the fourth position as per the market capitalization to enter top 3 assets excluding the stablecoin USDT. The trading volume also increased close to 100 percent from more than $3 billion to $6,521,188,162 at the press time.

The price at the time of writing is $14.07 with a massive jump of 26.46 percent in the last 24 hours. 

Technical Indicators

  • The resistance level is formed at the newly formed close to $15, at its all-time high at $14.86. However, DOT price is expected to touch new high much higher than the resistance levels.
  • The support levels are formed initially at $13.5. If the price trembled at these levels it needs to revisit the next support levels at $10.76 and finally at $8.07
  • The market sentiments are extremely bullish and the technical indicator is pointing towards a ‘strong buy’ signal.

Interesting Read: Analyst Believe Polkadot (Dot) Price to Hit $250 in 2021! Will It Enter the Top 5 Crypto Assets?

Source: https://coinpedia.org/news/polkadot-bull-run-dot-price-to-hit-100/

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