The cryptocurrency market has been on a roll since the day Bitcoin [BTC] made its historic gain of over $1000 within an hour. The total market capitalization has gone up considerably since then and the market still continues its bullish trend.
The last 24-hour picture for all the major cryptocurrencies looks green with major gains. Some of the coins in this regard include TRON [TRX], EOS, Cardano [ADA] and Dash [DASH]. TRON seems to be the biggest gainer of the day with 20.57% in the last 24 hours. Next to TRON comes EOS with a 16.29% gain and Dash with 10.67% gain. Cardano has had a gain of 10.14% in the last 24 hours.
However, Bitcoin Cash remains the biggest gainer in the last 7 days with a staggering 96.24%. The coin gained almost double its price by gaining over $700 in the last 7 days. Despite the FUD about the coin, the bullish momentum has not died out till now. The coin is trading above $1500 mark and has had a gain of 7.86% in the last 24 hours. After the tax regulations got over in the US on April 15th, the cryptocurrency market has been maintaining the upside momentum.
The sentiment analysis segment comprises of crypto-related sentiments of people from around the world which concerns the current market trends and possible outcomes of the coins. The expert opinions of people were recorded and are presented as it is to ensure that our readers get a wholesome picture of the coins and the cryptocurrency market. This segment is carefully structured after interviewing a group of investors, skeptics, miners, analysts, influencers and thereby recording their valuable comments. This analysis is focused on the King of cryptocurrency; Bitcoin [BTC].
Bitcoin crossed the $9000 mark due to a bullish gain that happened earlier today at 12:19 AM UTC which took the coin from $8930 to $9155. At 12:51 PM UTC the coin was seen to be trading at $9326.53 with a market capitalization of 158.518 billion.
The coin has had a gain of 4.49% in the last 24 hours and the coin seems to be maintaining it the bullish trend with the price reaching swing high levels. One of the reasons why the coin spiked up maybe because of the strong buying pressure for the coin on major exchanges. There was a huge buy wall formation and the Stochastic RSI was in an overbought position.
There is a strong resistance to the coin at the $10000 level and there is support at the $8900-$9000 levels. The target set for the coin is at $9500 which is in the near term and if the coin holds on to the support it may reach there soon. On the contrary, if the coin breaks the support it may find the next resistance at $8800.
Silvester Williams, a Botanist from San Francisco says:
“The Stochastic RSI is at the overbought position and there is a buying pressure for the coin right now. The MACD indicates a bullish momentum and the coin is currently seen to be trading above the 100-200 SMA on the four hour chart of the coin. The parabolic SAR also confirms a bullish momentum for the coin.”
Aron McCullum, a miner from Louisiana says:
“The $9350-$9500 is possible as an extension of this wave and the trendlines also indicate a bullish momentum. The coin went on sideways for about 2 days before breaking the resistances at $9000 and $9500 which was a huge relief because the bears were constantly rejecting the bulls but the bulls wanted more and they seem to be getting it.”
Lisa Green, an Economics Student says:
“The 1200 EMA was rapidly overcome and the trendlines indicate a major bullish trend for the coin. The targets are set clear and it is fast approaching. I would personally suggest a buy if there is a confirmed breakout above the 78.6% retrace at about $9460 where there is far less overhead resistance.”
To conclude, a major 77% of Bitcoin respondents feel bullish looking at the hourly charts of the coin and they expect the coin to break the resistance at $10000 and move up. However, a minor 23% of Bitcoin respondents feel bearish because of the ascending wedge for the coin which indicates a bearish trend.
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