Ethereum is about to break the $1,800 barrier
Just before the long-awaited Merge, ETH is about to break the $1,800 barrier.
After the recent volatility, bitcoin seems calmer today but still stands tall above $21,000. This is good news for those who have invested in bitcoin, as the value of the currency appears to be stabilizing. However, it is still unclear what the future holds for bitcoin and other cryptocurrencies.
It's been a great week for Tezos, which has seen its value increase significantly while Ethereum continues to make gains. The Merge protocol upgrade is looming large on the horizon, and it's clear that investors are confident that it will be a success. With the price of ETH approaching $1,800, it's clear that the market is bullish on the future of Ethereum.
Bitcoin hits new weekly high
Overall, it has been a tough week for cryptocurrencies as the value of Bitcoin continues to plummet. It is currently sitting at a six-week low of just over $18,500 and has lost a lot of value since the end of August. This trend is worrying for investors and could lead to further losses in the future.
The BTC market has been incredibly resilient in the face of some major challenges in recent weeks. Despite a record interest rate hike from the European Central Bank, BTC has managed to reclaim its $19,000 level and looks poised to continue its upward momentum. This resilience is a testament to the strength of the BTC market and suggests that there is still strong demand for this digital currency.
As the end of the week approached, the asset actually went on the offensive and spiked above $20,000. Friday saw even more impressive gains as bitcoin jumped to and beyond $21,000. These gains are a positive sign for the future of bitcoin, and show that the asset is still on the rise.
It's been a wild ride for BTC over the past few weeks, but it looks like the market is finally stabilizing. BTC hit a new two-week high of over $21,700 today, but has since calmed down. Its market capitalization remains well above $400 billion, and its dominance over the altcoins is still north of 39%. It'll be interesting to see where BTC goes from here, but for now, it looks like things are finally starting to settle down.
Ethereum Eyes $1.8K as Price Continues to Climb
It is clear that the altcoin market is highly volatile, with prices fluctuating rapidly over short periods of time. However, it seems that the market is beginning to stabilise, with Ethereum slowly recovering from its recent dip below $1,500. With the Merge fast approaching, it is possible that we will see further price increases in the near future.
It is clear that the cryptocurrency market is in a period of consolidation at the moment, with many of the major coins and tokens trading sideways or slightly in the red. However, there are a few bright spots, with Cardano, Polygon, and TRON all posting modest gains on the day. It will be interesting to see how these coins and tokens perform in the coming days and weeks, as the market continues to search for direction.
It's no surprise that EOS and Tezos are at the top of the list when it comes to mid-cap altcoins adding value in a day. EOS is up by 4% to $1.75, while XTZ trades north of $1.7 following a 5% increase.
Looking at the overall market capitalization of all crypto assets, it is clear that the industry is continuing to grow at a rapid pace. With the market now sitting at over $1.050 trillion, it is clear that there is a lot of interest in this new asset class.
The post Ethereum Eyes $1.8K Days Before Merge, BTC Steady Above $21K (Market Watch) appeared first on CryptoPotato. The cryptocurrency market is abuzz with activity these days as Ethereum eyes a major milestone and Bitcoin holds steady above $21,000.