The cryptocurrency market is showing tremendous progress. The top dog of cryptocurrencies, Bitcoin price has touched $11,100. Many altcoins are also showing good progress. The drop in the price in March 2020 was because the crypto market was simply following the market trend with the intricacy of the circumstances around the world. The cryptocurrencies like Ethereum and IOTA are also showing good development. Now, the question is: Should you invest in Bitcoin, Ethereum, and IOTA? Let’s see.
Cryptocurrencies Price Analysis: Bitcoin Price Going Towards $13000?
The bear target of $8600 was touched in June, and after a few weeks of stabilization, many altcoin prices were also increased. The Bitcoin price has finally been able to break the golden ratio at the $10,000 just a few days ago. The MACD lines have now also crossed bullishly and the RSI still has room for growth before it touches the overbought regions.
Now, will BTC price go towards $13000? The important thing to remember here is that Bitcoin is growing very bullish in 2020 and looks stable in the medium to long term. However, traders can only expect another bull run if the Bitcoin price breaks the golden ratio at $13,800 but before that, the BTC price should touch $12,400.
Cryptocurrencies Price Analysis: Ethereum Price is Climbing High
Ethereum price has touched a new 2020 high. At the time of writing, the ETH price is $321.72. The Ethereum price has experienced a parabolic move and has increased by almost 50 percent since the start of the month! Now, the Ethereum price could continue to climb! Also, the DeFi profit is flowing into the Ethereum and the price can touch $360 mark.
Cryptocurrencies Price Analysis: IOTA is trading in the green
Now, IOTA is also trading in the green with a few major cryptocurrencies in the market. The thing is cryptocurrencies like Bitcoin and Ethereum could shift in the red after touching walls at their yearly highs. IOTA, on the other hand, has maintained a progressive but calm uptrend since the March collision to $0.0750. The key matrics of IOTA are as follows:
24hr Change +1.03%
24hr Real Vol $10,355,686
Liquid Marketcap $764,408,849
Liquid Supply 2,779,530,283
Max Supply 2,779,530,283
IOTA is reeling at $0.2762 and if you closely observe then you will find that the RSI and MACD determine that concentration is most expected to take priority. Both of these signs are aligned with the RSI at 63 and the MACD at 0.0113.
Nobody can forecast whether cryptocurrencies like Bitcoin, Ethereum, and IOTA will touch the roof. The good thing about these cryptocurrencies and the other is that they are not at all in a bad position. People who still not have Bitcoin, Ethereum, and IOTA should think and study the market and it will be a good decision if they invest a small proportion of their money in these cryptocurrencies. We wish you a very happy investing!