Market Update: Bitcoin Cash Up 153% Since Jan. 1, Perma Bull Tom Lee Predicts New BTC Highs

THELOGICALINDIAN - Digital bill markets are in the blooming afresh today afterwards seeing some abstinent losses the day above-mentioned The arch cryptocurrency in the top 10 is the fourthlargest blockchain by bazaar cap bitcoin banknote which is up 14 today A array of added agenda asset markets are accomplishing able-bodied as the all-embracing bazaar appraisal of all the bill in actuality has acquired 20 billion in the aftermost day

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Crypto Prices See a Sharp Rise

Cryptocurrency proponents are admiring to see that prices are accomplishing bigger than they were 24 hours ago. At columnist time, the absolute cryptoconomy is account about $266 billion and there’s billions account of agenda assets actuality swapped today. BTC is currently trading for $9,439 per bread and the bazaar is up 3.4% on Wednesday. The bill has about $1.8 billion in all-around barter aggregate and the amount is still 52% bottomward from it’s best aerial (ATH) in December 2017.

The second-largest blockchain by bazaar cap is ethereum (ETH) which is up 6% today and 11% for the week. Each ETH is swapping for $197 per bread and the asset is still bottomward 86% from its ATH. Ethereum markets accept about $962 actor in appear barter aggregate during the aftermost 24 hours. Ripple (XRP) still commands the third-largest bazaar appraisal and XRP is up 7% today at $0.27 per coin. The aftermost seven canicule accept apparent XRP jump by 16% and the agenda bill has about $1.3 billion in barter aggregate worldwide.

Bitcoin Cash Up 153% Since Jan. 1, 2024

Bitcoin banknote (BCH) markets are up 14% over the aftermost day and 11% for the aftermost seven days. Each BCH is trading for $429 per bread and the currency’s all-around barter aggregate this Wednesday is about $1.1 billion. BCH is up 264% over the aftermost 12 months and 153% back Jan. 1, 2019 back prices were at $168 per coin. At the time of publication, the BCH bazaar cap is aerial about $7.85 billion. Cryptocurrency and Fxstreet analyst Ken Chigbo’s latest assay says that “BCH/USD has an befalling to shoot higher.” Chigbo addendum that BCH/USD amount action has connected to move “within a abeyant bullish pennant.” “The circadian amount activity has been bound for activity on seven sessions now, as the amount consolidates,” the analyst remarked. “A ambit block accumulation is empiric via the 60-minute blueprint view, apprehension the abutting committed move potentially from the bulls.”

Perma Bull Tom Lee Predicts BTC Market Prices Could Tap New Highs

Fundstrat Global Advisors cofounder Tom Lee is able-bodied accepted for his amount predictions and abounding bodies accede his opinions to be acutely bullish. On Feb. 4, Lee told the columnist that he is “really optimistic” about BTC prices in the abbreviate appellation and has fabricated addition prediction. “January is usually a anniversary month, it was a abundant ages for bitcoin, [which is] up 26% — but additionally recovered its 200-day affective average,” Lee told Yahoo Finance. “That’s a big accord as you know, as anyone [who follows trends] knows aback you’re aback aloft your 200-day, you’re aback in a balderdash market. Whenever bitcoin break aback into its 200-day, its boilerplate six-month accretion is 197%,” the Fundstrat controlling said.

Wealth Manager Expects BTC Prices to Jump to $400k by 2030

On a Citizen Bitcoin podcast hosted by Brady Swenson, a California-based advance adviser from the close Wescap said that he believes hyperbitcoinization will happen. “I anticipate the absolute appraisal on 10 years that I use is about $8 abundance and that comes from assorted buckets,” said Andy Edstrom. “Whether it’s demography allotment from gold, or demography allotment from fiat, or demography allotment from adopted assets, or hardly demonetizing added food of amount like absolute acreage or new uses that we haven’t anticipation of, or are still beneath construction, such as micropayments,” explained Wescap’s Edstrom. The abundance administrator acclaimed that astringent geopolitical tensions and the accumulation press of authorization affluence could advance added bodies against BTC. Edstrom has accounting a book alleged “Why Buy Bitcoin,” and the advance adviser discusses the assay with Swenson throughout the podcast episode.

‘BTC Prices Could Dump Hard,’ Says Popular Crypto Trader

The accepted crypto banker on Twitter @MacnBTC, who has over 28,000 followers, warned on Feb. 2, 2020 that “BTC is gonna dump adamantine this anniversary and over $100M in longs will get wiped.” The banker affianced the tweet to his contour and said “don’t say I didn’t acquaint you” as well.

Despite all the bodies cogent Mac that the amount won’t dump, he continues to cheep that it’s still happening. “I achievement it will happen,” the Twitter annual Gemhunter replied. “Made abundant profits, afterwards casual 9.6k I’m tethering and authoritative some austere sat game,” he added. Another being disagreed with Mac’s cheep on Wednesday and said: “Dream on — No pullbacks in a balderdash market.”

In accession to the top 10 currencies seeing some amount activity on Wednesday, a bulk of lesser-known bill has apparent some ample assets and losses. Cryptaur is up 467% today, fusion acquired 396%, lisk jumped 72%, and mossland acquired about 28% in the aftermost 24 hours. As far as 24 hour losses are concerned, loom network bill are bottomward 34%, karatgold coin has absent 24%, gifto is bottomward 14%, and the icon project has apparent a accident of 6% during the aftermost day.

Where do you see the cryptocurrency markets branch from here? Let us apperceive what you anticipate about this accountable in the comments area below.

Disclaimer: Price accessories and bazaar updates are advised for advisory purposes alone and should not be advised as trading advice. Neither Bitcoin.com nor the columnist is amenable for any losses or gains, as the ultimate accommodation to conduct a barter is fabricated by the reader. Always bethink that alone those in ascendancy of the clandestine keys are in ascendancy of the “money.” Cryptocurrency prices referenced in this commodity were recorded at 10:20 am on February 5, 2020.

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