January 22, 2021

A Crypto Investor

Just another Crypto Guys Blog

Price analysis 11/30: BTC, ETH, XRP, BCH, LINK, LTC, ADA, DOT, BNB, XLM

Bitcoin (BTC) price came within striking distance of hitting a new all-time high today. This shows that institutional and retail investors continue to buy on every dip and BTC is in a strong uptrend. Hence, traders should not urgently looking to call a top.

While Bitcoin has been creating new records, gold has corrected about 15% from its all-time high. This shows that traders are dumping their positions and this led to the largest weekly outflow in gold.

Daily cryptocurrency market performance. Source: Coin360

Analysts believe that some of the money flowing out of gold could enter Bitcoin as institutional interest continues to soar. A new high could also attract momentum traders who like to piggyback on a strong trend.

Traders are now wondering if Bitcoin’s momentum will pull the whole crypto sector higher or if it will continue to hog the limelight at the expense of the altcoins?

Let’s analyze the top-10 cryptocurrencies to find out.