CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$36,238.00
  • ethereum
    ETH$1,233.32
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Market Updates » Bitcoin Strong At $40K: Will It Be Another Wild Weekend? (Market Watch)

    Bitcoin Strong At $40K: Will It Be Another Wild Weekend? (Market Watch)

    Author: Jordan Lyanchev

    Last Updated Jan 10, 2021 @ 08:15

    Most lower-cap alternative coins have added massive chunks of value, while larger-caps and bitcoin have calmed after the latest roller-coasters.

    Following another all-time high and a wildly volatile day, bitcoin has retraced slightly and calmed around the $40,000 price mark. Most large-cap alternative coins have also lost some steam, but some lower- and mid-cap ones have skyrocketed in the past 24 hours.

    Bitcoin Stalls Beneath $40K

    The past several days have been quite bullish for the cryptocurrency. After it dipped briefly beneath $28,000 on Monday, bitcoin went on a roll. It reclaimed the $30,000 tag almost immediately and continued upwards to new records.

    The latest one came just yesterday. BTC took down another milestone – $40,000 – and kept marching on to $42,000. This became the asset’s newest all-time high. This increase meant that bitcoin has added over $14,000 in just five days – since the Monday dip.

    However, the bears took charge at this point and drove BTC down to about $38,800 (on Bitstamp). Nevertheless, the primary cryptocurrency has recovered some losses and currently trades around $40,300.

    The technical indicators suggest that the most significant support lines that BTC could rely on in case of another retracement are at $38,000, $37,150, and $36,000.

    Alternatively, bitcoin has to overcome the resistance level at $42,000 to resume its bull run and head towards the next obstacles at $43,445 and $45,000.

    It’s interesting to note, however, that the two weekends before this one were particularly wild and Bitcoin created serious CME gaps that later got filled amid massive volatility.

    btcusd_hart
    BTC/USD. Source: TradingView

    Large-Cap Altcoins Relax, Lower-Cap Explode

    The past several days have been highly volatile for the altcoins as well, with substantial double-digit price movements. After the latest gains, though, most larger-cap alternative coins have calmed on a 24-hour scale.

    Ethereum, Ripple, Bitcoin Cash, and Chainlink are essentially positioned at the same levels as yesterday. ETH trades around $1,200, BCH is at $430, XRP at $0.32, and Link at $15.56.

    Binance Coin (-2%) and Polkadot (-3%) have lost the most from the top ten, while Litecoin has gained 3% to $168.

    heatmap_crypto
    Cryptocurrency Market Heatmap. Source: Quantify Crypto

    However, while larger-cap altcoins have remained still, the situation with lower- and mid-cap ones is significantly different.

    IOST leads the double-digit price increase club with a 75% surge. Avalanche (45%), Solana (38%), BitTorrent (30%), Yearn.Finance (27%), Band Protocol (26%), IOTA (24%), Hedera Hashgraph (22%), SushiSwap (22%), and NEAR Protocol (16%) are some of the other representatives.

    Although the total market cap has decreased slightly from yesterday’s high at $1.1 trillion, it still hovers above the coveted $1 trillion level.

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    Read more on: Bitcoin (BTC) Price

    About The Author

    Jordan Lyanchev View more posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$36,238.00
  • ethereum
    ETH$1,233.32
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    binance
    Bitcoin Editorials
    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!