Crypto market kicked off Christmas with highs refresh
XRP Community Inspired by News of SEC Head Replacement
Top-30 cryptocurrencies by capitalization went into growth
International consortium of news organizations developing transparency standards.
Bitcoin continues to storm new heights. The $ 28,000 mark remains behind, while the bullish trend is gaining strength
Update December 27, 14.00 Moscow time
Bitcoin has overcome another psychologically significant level of $ 28 00 and continued to grow. At the time of this writing, the all-time high is $ 28,250 (BitMEX data). Bitcoin market capitalization reaches $ 522 billion and dominance index rises to 71%.
According to the well-known economist and trader Alex Kruger, the next goal is $ 30,000. This is not only a psychological barrier, but also a Fibonacci projection level
Where is the next stop for Bitcoin? Lets put BTC price in perspective. Polkadot under the radar?
When an asset is trading all time highs there are no reference points from past trading history to use as levels. In that case, traders look at key round numbers and fibonnaci extensions. The $ BTC levels traders are looking at now are: 30K (round number and fib) and 36K (fib). pic.twitter.com/Omtt6wzlXK
– Alex Krüger (@krugermacro) December 27, 2020
Update December 27, 10.00 Moscow time
Most of the top 100 altcoins are also in the green zone, following the dynamics of Bitcoin. XRP continues to suffer losses, trading down in a daily ratio at $ 0.30. The market capitalization of all digital coins in circulation jumped to $ 726 billion, and the average daily trading volume exceeded $ 200 billion.Bitcoin dominance index crossed the 70% mark for the first time since March 2017.
Bitcoin hit its all-time high on Saturday, December 26, setting a new ceiling for the BTC / USDT trading pair at $ 26,049 on BitMEX.
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At the time of this writing, Bitcoin has corrected towards the $ 25,819 area. The dominance index of the first cryptocurrency rose to 69.2%. The total capitalization of the digital asset market reaches $ 692 billion.
Most altcoins are also in the green zone. The exception was the cryptocurrency startup Ripple’s XRP coin, which showed a daily decline of 5%. On Friday, December 25, another exchange announced that it was suspending trading in this coin due to litigation with the SEC..
XRP rate, source Coinmarketcap
It is noteworthy that the day before, XRP was the growth leader among the top 100 cryptocurrencies by capitalization, adding almost 40% in less than a day. The growth took place against the background of the appointment of a new head of the US Securities and Exchange Commission (SEC) Elad Roizman. However, Bloomberg already predicts that with the coming to power of Joe Biden (to be held in January 2021), Roizman will be replaced by a candidate loyal to the Democrats.
Learn how to trade in the cryptocurrency market with BeInCrypto partner – StormGain cryptocurrency exchange
Recall that since December 22, the price of XRP has gone to a steep peak after Ripple announced an impending lawsuit from the SEC. A couple of hours later, the regulator made formal accusations against Ripple, increasing the asset’s fall. Local minimum in the XRP / USDT trading pair was reached on December 24 at $ 0.227.
ETH / USDT is also growing. The coin was marked at $ 636, but the upward trend is losing momentum.
Note that in the low-liquid holiday market, assets are subject to sharp price fluctuations. Even minor changes in positioning can result in a significant change in course.
About where bitcoin will move next – read the special material BeInCrypto.
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