Is This Just the Beginning of Crypto Bull Market? Experts Say Yes!
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2021 is clearly one of the best years for Crypto enthusiasts and businesses related to digital currencies. It has been the year for all the loyal investors who vested their trust in the crypto revolution. With top cryptos breaking their all-time high values repeatedly and Bitcoin going through a wave of industrial adoption, the bull market had a great run in the first quarter of 2021. Top altcoins have seen a kind of growth that they haven’t seen since their inception and, of course, the rise of NFTs. By looking at all of these, you may think the crypto bull market has seen its peak in 2021. But it seems like that is not the case at all.
For the past 24 – 48 hours, the crypto market has been booming with full force. Bitcoin and Ethereum broke their all-time high values yet again, with other altcoins gaining in double digits. ‘Coinbase’ – a popular crypto exchange is about to go public in a few hours, and that could further push the prices of these cryptos by a decent margin. With that in mind, we have analyzed the price charts of top cryptos with maximum growth in the past 48 hours. Let’s get started.
Bitcoin (BTC) | +8.7% in the past 48 hours
The BTC/USD pair has broken its ATH and made a brand new higher high yesterday. At the time of writing, the price of one BTC was around $63,349, with a strong buy momentum on all the timeframes. As we mentioned in some of our previous articles, the price did take support from the $52k mark before making a new ATH value at around $64,700.
On the weekly timeframe, the support for BTC is currently at $47,439, and on the daily frame, it is at the $52k level. The nearest resistance for Bitcoin is at $68,440, but the prices tend to move way beyond that, considering the momentum of buyers in the market. The price could further move beyond this level to reach the $70k mark very shortly. A few of the reliable analysis on Bitcoin state that BTC could even reach the $80k mark by the end of May.
Each time bitcoin tested a lower value, the price went back above $60,000. Now that it has broken out past the resistance at $65,200, I expect it to reach $70,000 by the end of May
Joe DiPasquale (CEO – BitBull Capital)
Ethereum (ETH) | +11.5% in the past 48 hours
Ethereum (ETH/USD) broke its previous all-time high value yet again and grew by 11.5% in the past two days. This crypto has now seen triple-digit growth since the beginning of this year. Currently, the price of one ETH is ~$2,343 and is expected to move further up in the near term. The price could meet its round-number resistance at $2,500, and there is no other resistance for this crypto at this point. In case of any adverse selling pressure, the price could reach its daily or weekly support areas at $1,980 or $1,403 before making a brand new higher high. However, it is very unlikely for this to happen, especially with Coinbase going public tomorrow.
Doge Coin (DOGE) | +103% in the past 48 hours
Dogecoin (DOGE/USD) saw an abnormal growth of 100+% in the past couple of days. This crypto has been in the news with billionaires like Elon Musk and Mark Cuban actively backing DOGE a couple of months ago. The price action was consolidating for a while until yesterday but suddenly shot up to the north, making a brand new all-time high value. Currently, the nearest resistance for DOGE is at $0.1499, with daily and weekly supports at $0.07 and $0.06, respectively. A few of the experts believe that this crypto could reach the most anticipated $1 in less than a year.
Ripple (XRP) | +34% in the past 48 hours
It has been a crazy past ten days for Ripple (XRP/USD), especially with a couple of favourable judgements concerning the SEC lawsuit. In the past couple of days, this crypto has surged by 34%, and in the last ten days, the growth is beyond 230%. This high potential crypto was undervalued for a long time now, and it is expected to grow much further shortly. Currently, the nearest resistance for this crypto is at $2.0984, and the daily and weekly support levels are at $1.0461 and $0.6466, respectively.
In the below snapshot, we can see the price surge in all the top 10 cryptos in the past 24 hours and the past seven days. This indicates a clear bullish sentiment in the crypto world and a very strong one indeed.
All of these indicate the crypto market’s current bull run is nowhere closer to its climax and that is exactly what some of the top crypto experts believe too. Still thinking of getting into the crypto train? We recommend you not doing that.
We hope you find this article useful and informative. If you have any questions, please let us know in the comments below. Cheers!
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