Bitcoin, Ethereum and Cardano corrected after the big surge, XRP and these altcoins still in the upper class »Crypto Insider – D1SoftballNews.com
NS Cryptocurrency Yesterday the market pulled hard and many prices went up just as quickly. Total market cap rose to over $ 2 trillion for the first time since mid-May. After these massive increases in BTC among others, a small correction usually follows and we saw it happen last night and again this morning. Total market capitalization dropped to $ 1.94 trillion this morning.
After a week of strong rally, Bitcoin’s current rally to cool off for a while. Despite multiple attempts yesterday, Bitcoin failed to get out of the area just above $ 46,000. At the end of yesterday afternoon, a high of $ 46,700 was reached, but then the price of Bitcoin dropped and reached $ 45,500 last night. The price then briefly recovered above $ 46,000, but in the early hours of this morning Bitcoin’s price fell again, dipping below $ 45,000 at the time of writing.
Despite this, this $ 45,000 is very likely to hold as support and Bitcoin will resume its rally soon. If the support doesn’t hold, Bitcoin is likely to drop to $ 43,000 or even $ 40,000. If bitcoin continues to rise, we could see another $ 50,000 this week, but that is far from certain and there will likely be a lot of resistance there. Bitcoin’s price is expected to reach the so-called next Friday gold cross Forms, so when 200 days moving average It cuts the 50-day moving average and is usually a increasing Signal:
– Rektcapital 11 August 2021
Analyst Willy Woo notes that the Bitcoin network is currently growing faster than ever:
Users of the Bitcoin network are now growing at the fastest rate ever.
1.2 million users added in the last 30 days.
It does not include off-chain users on exchanges who typically see up to 3 times that number. pic.twitter.com/pcTf2gWWfb
– Willy Woo (woonomic) 11 August 2021
Ethereum (ETH) It is currently still heavily pegged to Bitcoin. Ether price made two more breakthrough attempts yesterday but met very significant resistance around $ 3,265. Earlier in the night, the price briefly recovered from $ 3,165 to $ 3,235, but this morning Ether also caused a significant drop on the bottom and is even harder to fall than Bitcoin. However, support around $ 3,100 appears to be holding for now and we may see a recovery now.
Cardano (ADA) It rose sharply yesterday, briefly reaching $ 1.88 yesterday afternoon, but fell this morning as well. The ADA briefly hit $ 1.74, but it looks like the price may start to rise again.
Ripple (XRP) The price rose slightly yesterday, reaching $ 1.05 late in the evening, the highest level since the beginning of June. The price of XRP was also corrected slightly below, but barely compared to the rest of the top 10. XRP briefly hit $ 0.96 this morning, but is now above $ 1.00, which has raised the price up at 14% today. The reason for this increase seems to be related to the following news, but we’ll talk about it later on Crypto Insiders:
We are excited to partner with GME Remittance to accelerate and scale payments from South Korea to Thailand, leveraging RippleNet’s momentum in the Asia-Pacific region, where transactions are growing 130% year-over-year. https://t.co/aDeceLNIZY
– Ripple (@Ripple) 11 August 2021
Outside of the top ten, the cryptocurrency that has grown the most in recent days is now correcting its hardest decline. Elrond (ELGD) is 6% less, flux (FLOW), computer Internet (ICP), helium (HNT) and axie infinity (AXS) lose about 8% to 9% of their value. Ravencoin (RVN) is down 11% and Safemoon (SAFEMOON) is up 13%.
Conversely, polygon (MATIC) is still close (NEAR) and tron (TRX) 9% is in plus plus, klaytn (KLAYTN) 11%, bittorrent (BTT) 14% and xdc (XDC) 26%. The price of Iotex (IOTEX) has risen again by 29% and the price of IOTEX has now increased by at least 400% in just a day and a half.