Price Analysis: Altcoin Prices On A Surge In Competition With Bitcoin Growth

Must Read

Make Sure You Trade Crypto In The Weeks To Come

Global finance has seen some massive shifts caused by the worldwide coronavirus pandemic, COVID-19. Despite all of this...

Bitcoin (BTC) Prices Priming Up To Fall Again, A Major Bull Trap Is Emerging

Bitcoin prices might fall against the market odds in upcoming days. Bitcoin already acquired the flat trend and...

Messari Analyzed The Impact Of The Percentage Of Total Tokens Staked Over Price

Over the last few years, staking has been a popular trend in the digital currency market. With the...
5d85c99dd353c-bpfull
Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
Price Analysis: Altcoin Prices On A Surge In Competition With Bitcoin Growth

  • Bitcoin’s recent price hikes expected to be the catalyst for the altcoin price surges, which currently observed in the market.
  • Bitcoin price seen to shoot beyond 8,700 dollars with a gain of 2.5% as of last observed at the time of writing.
  • This price hike for BSV can be attributed to the latest developments in the Craig Wright – Dave Kleimer court proceedings.

Bitcoin’s recent price hikes expected to be the catalyst for the altcoin

price surges, which currently observed in the market. The price of bitcoin has always known to have reliable control over the costs of altcoins.

This was clearly shown in the market on 14 January as altcoins went on a favourable price spike. Bitcoin price seen to shoot beyond 8,700 dollars with a gain of 2.5% as of last observed at the time of writing.

Bitcoin’s next main hurdle is said to be $9,100, which will mark the 200-day moving average on the daily chart. The relative strength index (RSI) is getting closer to 70, and the price is clearly on an upward momentum.

As Bitcoins prices are heading closer and closer to the $9,000 mark, it has also pulled up the prices of other altcoins such as Ethereum, Bitcoin SV, Bitcoin Cash, and Litecoin. Bitcoin SV has led the charge with a price gain of nearly 79.35 to $359.19, at the time of writing.

The massive price change brought Bitcoin SV to the 5th largest cryptocurrency by market cap of around $6.6 million. This price hike for BSV can be attributed to the latest developments in the Craig Wright – Dave Kleimer court proceedings.

Craig Wright has claimed that he now has access to a large number of BTCholdings that purportedly include some of the first-ever mined, thus bringing him one step closer to verifying his identity as Bitcoin inventor, Satoshi Nakamoto.

Ethereum has also rallied 9.87% to $166 in the past 24 hours as Bitcoin prices have pulled it up although it speculated that this is the indication for a downward correction in ETH prices.

It expected for ETH prices to jump back up to $170-$172 after the correction and might even move up to the $180 mark if Bitcoin prices break the $9,000 psychological barrier. The third-largest cryptocurrency by market cap, Ripple also saw a rise of 6.9% trading at $0.2367.

Bitcoin Cash, the parent fork to BSV also saw a 20.04% price hike to $342.35. Although Bitcoin Cash boasted stronger market capitalization than BSV for a while now, the Craig Wright case developments that happened, have thrown Bitcoin SV zooming past BCH.

Although this didn’t stop BCH from rallying up high, analysts also say that this bullish trend for Bitcoin Cash is also just a beginning and the prices can be expected to break out more.

Hot News

Make Sure You Trade Crypto In The Weeks To Come

Global finance has seen some massive shifts caused by the worldwide coronavirus pandemic, COVID-19. Despite all of this current volatility, analysts do believe...

Bitcoin (BTC) Prices Priming Up To Fall Again, A Major Bull Trap Is Emerging

Bitcoin prices might fall against the market odds in upcoming days. Bitcoin already acquired the flat trend and start facing resistance from the...

Messari Analyzed The Impact Of The Percentage Of Total Tokens Staked Over Price

Over the last few years, staking has been a popular trend in the digital currency market. With the launch of the aristocrats, Cosmos...

Bitcoin Price Analysis: BTC Price Crosses $6800 After Long Consolidation Period

Bitcoin price has finally crossed the price mark of $6800 indicating bulls are marching for $7k. Bitcoin's current price now is at the...

EOS Nation Partnered With Bancor To Launch A New DeFi  Platform xNation

EOS Nation partnered with Bancor to launch a new platform called xNation. With the help of this platform, the user can introduce and...

Ethereum Classic (ETC) Facing Variations Above The Crucial Level of $5.05

ETC is in negative momentum and it can drop down below price level of $5.05. ETC/BCH pair is suffering a major loss of...

Partners

Bitcoin (BTC) Prices Priming Up To Fall Again, A Major Bull Trap Is Emerging

Bitcoin prices might fall against the market odds in upcoming days. Bitcoin already acquired the flat trend and start facing resistance from the...

Messari Analyzed The Impact Of The Percentage Of Total Tokens Staked Over Price

Over the last few years, staking has been a popular trend in the digital currency market. With the launch of the aristocrats, Cosmos...

Bitcoin Price Analysis: BTC Price Crosses $6800 After Long Consolidation Period

Bitcoin price has finally crossed the price mark of $6800 indicating bulls are marching for $7k. Bitcoin's current price now is at the...

EOS Nation Partnered With Bancor To Launch A New DeFi  Platform xNation

EOS Nation partnered with Bancor to launch a new platform called xNation. With the help of this platform, the user can introduce and...

RELATED NEWS

Make Sure You Trade Crypto In The Weeks To...

Global finance has seen some massive shifts caused by the worldwide coronavirus pandemic,...

Bitcoin (BTC) Prices Priming Up To Fall Again, A...

Bitcoin prices might fall against the market odds in upcoming days. Bitcoin already...

Messari Analyzed The Impact Of The Percentage Of Total...

Over the last few years, staking has been a popular trend in the...