BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI, SOL, DOGE, DOT, LUNA, UNI, SOL, DOGE, DOT, LUNA – Price analysis
After starting its rally on October 11, Bitcoin is now near $58,000. It takes Bitcoin to its pre-China ban levels, showing almost 100% recovery. Experts argue that this shows that any ban from China will only have a temporary effect on cryptocurrencies. Bitcoin’s bullish rally has reignited hopes of six-figure projections. Head of Standard Chartered Geoffrey Kendrick expects Bitcoin to reach $100,000 by the end of next year.
On the other hand, Ethereum went through a sharp downward trend from 10th October. However, bullish trends made a comeback from 11th October onwards, Analysts see this as a good sign for ETH, revealing that sentiments are still bullish and people are buying ETH on dips.
In the case of the Binance coin (BNB), things do not look that hopeful. BNB plunged below $409 on 10th October. If things go well from here, BNB can touch $518 and then to $554. However, if things do not go well for BNB, it could hit $320.
In Cardano’s case, ADA is trading in a symmetrical triangle. It indicates that there could be a pattern of continuation. ADA could drop to as low as $1.60, or go as high as $2.80. It would depend on how bulls and bears trade in the coming months. In a similar vein, other tokens like UNI, LUNA, DOT, DOGE, SOL, and XRP have the potential to reach their all-time high prices over the coming months. Experts are hopeful of a bullish rally. In any case, Bitcoin’s run does not seem to be stopping any time soon.