Markets Price Analysis: BTC, ETH, XRP, LTC, BCH, LINK, ADA, DOT, BNB

By: Dickson Arinze

December 17, 2020 8:42 PM

Markets Price Analysis: BTC, ETH, XRP, LTC, BCH, LINK, ADA, DOT, BNB, lets take you throuth the the top ten performing cryptocurrencies according to market capitalization and average daily trade volume.

Bitcoin became an early Santa, given early Christmas gift to traders as it shoots past $22,000 creating a new all-time high, this upward move has triggered a strong rally of some major alts coin making the round today.

The current uptrend in Bitcoin has been all about institutional adoption. The latest institutional investor to have announced a position in Bitcoin is the United Kingdom-based investment manager Ruffer Investment Company Limited.

As has been the case with most institutional purchases this year, Ruffer said that they bought Bitcoin as an 
“insurance policy against the continuing devaluation of the world's major currencies.”

 

Institutional investors have continued to flock to Bitcoin because it has outperformed most major asset classes by a wide margin. Hence, institutional investors who were early to the Bitcoin party are most likely sitting on huge profits and their portfolios are outperforming other fund managers who only own legacy markets. 

As Bitcoin continues to draw more attention from the investor class, inquisitive clients may force more institutions to allocate a portion of their money to BTC.

Now that Bitcoin has resumed its uptrend let’s analyze the charts of the top cryptocurrencies to identify the target objectives on the upside.

ETHEREUM(eth)

Eth is second on the chart based on Market Capitalization. One Ethereum cost approximately $661 with a market cap of $75.28B with 24 hours increase of approximately 11%.

RIPPLE(xrp)

Xrp third on the log is second based on Market Capitalization. Ripple cost approximately $0.59 with a market cap of $26.91B with 24 hours increase of approximately 30%.

LITECOIN(ltc)

Ltc sits on fifth position on the log based on Market Capitalization. Litecoin cost approximately $100 with a market cap of $6.66B with 24 hours increase of approximately 22%.

BITCOINCASH(bch)

Bch sits on sixth position on the log based on Market Capitalization. Bitcoincash cost approximately $320 with a market cap of $5.95B with 24 hours increase of approximately 10%.

CHAINLINK(link)

Link sits on seventh on the log based on Market Capitalization. Chainlink cost approximately $13 with a market cap of $5.53B with 24 hours increase of approximately 11%.

In conclusion

Cardarno, Polkadot and Binance Coin takes eight, nine and tenth with markep cap of $5.28B, $5.00B and $4.49B respectively. Crypto market is very volatile please trade with caution. The above is just for information purposes