Bitcoin Opened in the green on Thursday and was trading at $47,907, up 1.58 per cent. The global market cap of the virtual currency was around $901.478 billion. According to several analysts and media reports, bitcoin It is on the verge of making a ‘Golden Cross’ on the daily chart for the first time since making ‘Death Cross’ in June. A ‘golden cross’ is a term used by technical analysts to suggest a crossover of two important simple moving averages – the 50-day moving average on the 200-day moving average. According to Tradingview.com, as of Tuesday evening, the 50-day moving average for bitcoin was at $45,802, while the 200-day moving average was at $45,875. Golden Cross happened 3 times during the period April 2019 to April 2020. Measured by BTC price to extremes: On April 23, 2019, BTC increased by 155 percent, on February 18, 2020 it fell by 61 percent, on May 20, 2020 it increased by 576 percent. However, bitcoin’s rival Ethereum was trading up 5 per cent at $3,590.02. While the global market cap of Ethereum stood at $421.5 billion.
“Bitcoin broke the $48,000 barrier, and Ether gained over 6%. Over the past three days, bitcoin broke three important resistance levels and is currently looking strongly bullish. Cardano, Markets The third largest crypto by cap, finally managed to break free from bearish dominance and surpass the $2.5 mark. The coming 24 hours will be interesting sessions. BTC may consolidate, giving the altcoins the perfect opportunity to move higher Opportunity will come. If trading volume in BTC turns higher, it could potentially approach the coveted $50,000 mark. The global crypto market cap posted gains for the third day in a row after rising 3.56 percent. is around $2.18, while overall trading volume has fallen by over 12 percent,” said Edul Patel, CEO and Co-Founder, Mudrex- a global crypto trading platform.
Cardano, on the other hand, was trading up 2.18 percent at $2.45. The global crypto market cap stands at $2.18 trillion, up 3.02 percent from the previous day. The total crypto market volume in the last 24 hours is $100.15 billion, which is a decrease of 10.05 percent. The total volume of DeFi currently stands at $18.48 billion, which is 18.45 percent of the total 24-hour volume of the crypto market. The volume of all stablecoins is now $76.27 billion, which is 76.16 percent of the total 24-hour crypto market volume. Bitcoin dominance is currently at 41.38 percent, down 0.37 percent over the day.
“Bitcoin recently experienced its eighth golden cross with 200-day and 50-day moving average crossing paths. This could potentially mean an increase in buying volume and a breakout from the current trend pattern. By the time such an event happened, bitcoin was up close to 600 percent,” said Siddharth Menon, chief operating officer of WazirX.
“Meanwhile, after a brief period of consolidation, the total crypto market cap has reached a level of $2.2 trillion. Looking at the volume trend, this can only mean that investors have taken a plunge into the crypto market after the recent correction. trust has been gained.”
Here are the top cryptocurrencies and their prices as of September 16, 2021 (data from coinmarketcap.com when the article was published)
Bitcoin $47,907 or +1.58 percent change in 24 hours
Ethereum $3,590.02 or +5 percent change in 24 hours
Cardano $2.45 or +2.18 percent change in 24 hours
Binance Coin $427.72 or 2.98 percent change in 24 hours
Tether $1.11 or 1.55 percent change in 24 hours
XRP converts to $1.11 or 1.56 percent in 24 hours
Dogecoin $0.2436 or 1.05 percent change in 24 hours
USD coin $1.00 or -0.02 percent change in last 24 hours
Polkadot turns $35.90 or -2.99 percent in 24 hours
Solana converts to $155.89 or -0.94 percent in 24 hours
Uniswap $26.90 or +5.23 percent change in 24 hours
Bitcoin Cash turns $645.35 or +0.98 percent in 24 hours
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