The daily trading volume of Bitcoin increased significantly, reaching $72 billion. The spring finally opened, and the price skyrocketed. We have been warning about this for the past two weeks.
A similar situation occurs with the altcoin market. They not only grow following the first cryptocurrency but also outstrip it in growth. So, Ethereum grew by 9% and set a new ATH at $2,377, and it also continues to grow further. The rest of the market is also showing significant growth. For example, XRP rose 30%, Cardano and Stellar rose 15%, Litecoin at 12%.
Over the past weeks, we have talked a lot about the fact that the market is shrinking and preparing for new growth. Right now this moment has come. Market volatility has increased significantly amid Coinbase’s listing on the Nasdaq stock exchange. When entering the exchange, experts expect to see a cryptoexchange capitalization of about $140 billion. This is 50% more than in private markets.
Against this background, the market literally took off and continues to show a strong upward trend. Let’s take a look at the charts of the two cryptocurrency flagships, Bitcoin and Ethereum, to see how long the growth could continue.
Yesterday the price was able to break through the upper border of the ascending triangle and rushed up. We have been expecting this event for a long time and it happened. The growth of the chart continues before our eyes, and it looks like it will not stop soon.
We expect to see the growth of the chart to the middle line of the ascending channel. Currently the range is $68,000 – $69,000. However, given the current market situation, the price could even go up to $70,000. These are completely real values, which show an increase of only 8% – 10%.
A similar picture has developed on the Ethereum chart. The price was able to break through the resistance at $2,200 on the third try and rushed up after that. Growth also continues here and may well reach $2,500.
The first two cryptocurrencies are showing significant growth. Following them, altcoins begin to grow. This is a great situation for those who buy cryptocurrency before the jump. We think that the market will be very volatile and sharp in the coming days, so we recommend that you closely monitor the market and set stop losses and take profits.