Although some crypto assets have recorded depreciation at low rates, in general crypto currency the market started the week with upward price movements. The crypto currency that recorded the most price increases in the last 24 hours was Bitcoin.
The Upward Momentum of Bitcoin
Over the past week, after repeated testing of the support zone at the level of $ 60,000, Bitcoin has come out of consolidation and recorded upward price movements with the first hours of November 8, 2021, and again rose to the price levels of $ 65,000-$ 66,000. Which has been consolidating between the price levels of $58,000 and $64,000 for some time dec Bitcoin, it managed to break its resistance at the 64.000 dollar levels and came quite close to the ATH level. Numerous crypto currency analysts who have made various shares on social media have expressed their expectations that the leading crypto currency will continue its upward price movements, which is likely to result in a new ATH.
The New ATH from Ethereum
rising from $4,200 price levels to $4,700 price levels in 1 week Ethereum, which as of today has recorded a new all–time high price level (ETH ATH: 4.790 USD – CoinMarketCap). Although Ethereum declined to the 4.300 dollar price levels by recording volatile price movements during the week, it managed to recover in a short time and continued its upward price movements. Ethereum, the second largest crypto asset in terms of market value, has become more deflationary due to a decrease in its supply with a new burning mechanism that comes with a number of successful updates, and this has played a critical role in ETH’s high price performance.
Current Status in XRP
After testing the support level in the $ 1.10 region during the week XRP, it rose to $ 1.29, the highest price level in the last 1 month. Although XRP declined to the 1.26 dollar price levels by making a small correction after the 1.29 dollar price levels it recorded, it managed to largely maintain the value increases it has made since the beginning of November.
The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.