Thursday, September 29

BTC, ALGO, ATOM, XTZ, EGLD


Bitcoin (BTC) is witnessing a tough fight between bulls and bears near the 200-day simple moving average, which is regarded as an important level by institutional investors trying to decide whether the asset is bullish or bearish.

Along with this, crypto investors are also watching the formation of a golden cross on Bitcoin. If this bullish setup completes, it will signal a trend in favor of the bulls. At the moment, investors continue to focus on select altcoins that have continued their journey north.

Daily view of crypto market data. Source: Coin360

On the fundamental front, Bitcoin reached another milestone when miners produced the 700,000 block on September 11. Bitcoin was trading close to $ 8,000 when the 600,000 block was hit on October 18, 2019.

Reaching this milestone led some Twitter users to quote Hal Finney, one of the early Bitcoin pioneers who had said:

“With each passing day and Bitcoin has not collapsed due to legal or technical issues, that brings new information to the market. It increases the chances of Bitcoin’s eventual success and justifies a higher price.”

Let’s study the charts of the top 5 cryptocurrencies that can attract the attention of traders in the short term.