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October 2, 2022
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Guide & Analysis

Bitcoin under $ 39,000; Polkadot rises to $ 15 and exceeds XRP

While Bitcoin remains below $ 39,000, Polkadot stole the show with a massive double-digit increase and a new record of almost $ 15.

Bitcoin failed to exceed $ 40,000 again and stagnated below $ 39,000. The altcoins’ situation is significantly more volatile than that of Bitcoin, with Ethereum rising to $ 1,200 and Polkadot surpassing XRP as the fourth largest cryptocurrency after a 30% increase.

ETH above $ 1,200, DOT takes 4th place

Altcoins showed high levels of volatility last week, with massive declines during the stock market crash. Black Monday and quick recovery sessions in the days that followed.

Most large currencies remained relatively calm on a 24-hour scale, however. Ripple and Litecoin had smaller losses, while Binance Coin (2%), Cardano (2%) and Bitcoin Cash (1.7%) are slightly green.

On the other hand, Ethereum appreciated 6% to $ 1,230. Thus, ETH needs to appreciate 18% to reach a new historical record above US $ 1,450.

Chainlink was also inches from its record price, after a 16% increase to the north of $ 18. However, Polkadot is the most significant winner in the top ten with an impressive 30% price jump for a new ATH of almost $ 15 (at Binance).

In addition, DOT surpassed XRP in terms of market value, according to data from CoinGecko.

Additional gains are evident in mid and low capitalization altcoins. HedgeTrade saw the biggest 210% bomb for more than $ 2. On a weekly scale, the HEDG is over 320% up.

Token Voyager (62%), Curve Dao Token (40%), IOST (34%), Ren (25%), Cosmos (22%), SushiSwap (16%), Uniswap (14%), ABBC Coin (12% ), and Bancor (12%) follow.

Total market capitalization remained above the coveted $ 1 trillion mark.

Bitcoin under $ 39K

Bitcoin also went through a highly volatile week and saw a $ 12,000 price drop on Monday and a subsequent recovery that brought BTC close to $ 40,000 yesterday.

However, the primary cryptocurrency failed to stay above that level and dropped to an intraday low of $ 37,600 a few hours ago. Although BTC has added a few hundred dollars worth of value since then, it is still trading below $ 39,000.

BTC’s inability to reach a peak above $ 40,000 has allowed rising altcoins to reduce bitcoin’s dominance to 68.3% from about 69% yesterday.

The technical indicators suggest that bitcoin could chart a new ATH if it breaks above resistance lines at $ 40,000, $ 40,775, $ 41,000 and the current record – $ 42,000.

Alternatively, support levels of $ 38,000, $ 37,150 and $ 36,000 could help in the event of another setback.

Bitcoin under $ 39,000; Polkadot rises to $ 15 and exceeds XRP 22

Source: CryptoPotato

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