Alts Season: Market Sees Green With Ethereum Next move undefined, Experts says
December 29, 2020 5:41 AM
The Crypto market is highly volatile, but with bitcoin recent up rise to $28,000 mark on 27th December reaching a new all-time high, according to coinnewsafrica research, the total market cap is just above $730 billion as market goes green.
The second most valuable cryptocurrency 'Ether' has gained over 19.71% in the last 24hrs and is currently trading slightly above $728 after today's rally with a market cap of $82,32B, Experts predict that Ethereum could rise to $1000 in the next few days before a major correction is expected.
According to coinnewsafrica research, most calls for Ether bullish predictions is down to the Bitcoin strength and recent surge and believe if Bitcoin sees a major correction Eth could follow suit, finding a new position below $500.
Other Alts could be bulking for a rocket show once bitcoin and Ethereum settles, the move for Alts is expected to be led by Binance(BNB) and Tronix(TRX) a brilliant 2021 looms for all major Altcoins with Experts anticipating daily traders/whales to short Bitcoin once it hits $29,546 which most of the profits being pumped into Alts for bigger gains.
What Next for the whole market is unknown with the recent Sec suit against ripple making it loose over 40% in one day with a major sell out, the unexpected move from regulators could be the only downside to this 2020 crypto bullish trend.
The crypto market is highly volatile and this is just an opinion, do you own research to avoid loss as coinnewsafrica would not be held responsible.