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Thursday

26 November 2020

Bitcoin rebounds to $18K after crucial support level holds — What's next?

Bitcoin rebounds to $18K after crucial support level holds — What's next?


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The total market capitalization of cryptocurrencies has arrived at the next and final resistance zone before a possible new all-time high: $500 billion is likely to be a significant hurdle to overcome.

Remarkably, Bitcoin’s price now just 10% beneath its all-time high and has already broken its all-time high market cap.

Meanwhile, the total cryptocurrency market cap is still down 35% from its all-time high. This shows that Bitcoin is currently in the spotlight.

Altcoins will most likely begin to play catch up later on.

As long as Bitcoin is in the spotlight, altcoins will not perform well.

Once that occurs, most likely in Q1 2021, a powerful impulse move may then lift the prices of altcoins across the board.

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cointelegraph.com
Market data feeds provided by cryptocompare.com
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