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Chartered Market Technician: BTC Price Signals Crypto Winter End

A Chartered Market technician states BTC’s recent price signals the end of the crypto winter. ETH took a significant price leap, crossing $1,550 for the first time in nine...
Chartered Market Technician: BTC Price Signals Crypto Winter End © Reuters. Chartered Market Technician: BTC Price Signals Crypto Winter End
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  • A Chartered Market technician states BTC’s recent price signals the end of the crypto winter.
  • ETH took a significant price leap, crossing $1,550 for the first time in nine weeks.
  • The global crypto market cap is on track to cross the $1 trillion valuation again.

Over the weekend, the price of the most popular crypto, Bitcoin (BTC), crossed the $21k price point for the first time since last November. Adrian Zduńczyk, a Chartered Market technician, said on live TV with Forbes that BTC’s recent price action could signal the end of the crypto winter.

Zduńczyk added that it was now an opportunity for crypto enthusiasts to enter the market.

Bitcoin currently trades at $20,826.51, with an impressive 20% increase over the last seven days. BTC’s closest rival, Ethereum (ETH), also took a significant price leap, crossing $1,550 for the first time in over nine weeks.

Similarly, the global crypto market experienced an in-flow of over $51 billion over the last 24 hours. Consequently, the market value of all cryptocurrencies is now above $978 billion, up by over $200 billion from December 31, according to data from the market tracking platform, CoinMarketCap.

Interestingly, some crypto chart analysts predicted the recent bull rally. Rekt Capital previously asserted that the end of the crypto bear market was near, given that it was 400 days since BTC touched $69,000. According to the analyst, it is the usual historical trend for BTC to find its absolute bottom price approximately 365 days after the peak of the previous bull market.

The best-performing coin among the top 11 was Solana (SOL). SOL saw over 42% growth in the last seven days, trading at $23.37. Previous, some crypto enthusiasts argued that Solana would ultimately crumble this year, given its exposure to FTX.

The post Chartered Market Technician: BTC Price Signals Crypto Winter End appeared first on Coin Edition.

See original on CoinEdition

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23-02-2024 05:04:17 (UTC+7)

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EUR/USD

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    EUR/USD 1.0822 Neutral  
    GBP/USD 1.2662 ↑ Buy  
    USD/JPY 150.52 ↑ Sell  
    AUD/USD 0.6557 ↑ Sell  
    USD/CAD 1.3483 ↑ Buy  
    EUR/JPY 162.88 ↑ Sell  
    EUR/CHF 0.9527 ↑ Buy  
    Gold 2,034.30 Buy  
    Silver 22.777 ↑ Sell  
    Copper 3.8948 Neutral  
    Crude Oil WTI 78.35 ↑ Sell  
    Brent Oil 83.41 ↑ Sell  
    Natural Gas 1.728 Neutral  
    US Coffee C 183.23 ↑ Buy  
    Euro Stoxx 50 4,855.85 Neutral  
    S&P 500 5,087.03 ↑ Sell  
    DAX 17,370.45 Neutral  
    FTSE 100 7,684.49 ↑ Sell  
    Hang Seng 16,742.95 ↑ Buy  
    Small Cap 2000 2,009.05 ↑ Sell  
    IBEX 35 10,138.90 ↑ Sell  
    BASF 46.845 ↑ Buy  
    Bayer 28.91 ↑ Sell  
    Allianz 255.10 Sell  
    Adidas 187.82 Neutral  
    Lufthansa 7.503 Sell  
    Siemens AG 172.10 ↑ Sell  
    Deutsche Bank AG 12.252 Neutral  
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