Bitcoin remains strong — altcoins are waiting on it make the next move

Oct 14, 2021

By: BI India Bureau

Bitcoin has managed to stay above $54,000 over the last few days

It is currently priced at $57.913 after rising by 3.27 percent over the last 24 hours

Credit: Business Insider India

On the flip side, investor interest in Bitcoin is still lacking

Google Trends data shows that searches for Bitcoin has not picked up and is nearing one-year lows

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Some analysts believe that this could be a sign...

That only the Bitcoin whales are accumulating the cryptocurrency

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They have been HODLing, adding 2.37 million to their wallets over the past seven months

Credit: Business Insider India

Ethereum’s recovery continues this week as well

Technical data indicates that the bulls bought ‘the dip’ and HODLing — not quite ready to book profits

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Ether, Ethereum’s native token, is priced at $3,645

The cryptocurrency has increased by 3.84 percent since yesterday

Credit: Business Insider India

The only altcoin that thriving in the current ‘wait-and-watch’ environment is Polkadot

It’s up by 19.10 percent over the last 24 hours with DOT priced at $41.91

Credit: Business Insider India

Other altcoins are waiting on Bitcoin’s next big move to shape the global crypto market

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Binance Coin is priced at $470.84

It has risen by 1.3 percent since yesterday

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The gap between Cardano and Binance Coin is widening

The ‘Ethereum Killer’s’ market value has dipped to $71.48 billion while Binance Coin’s has increased to $78.93 billion

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Cardano is currently priced at $2.17 — an increase of1.82 percent over the last 24 hours

However, uncertainty over the past few days seems to resolving in favor of the bears with Cardano’s weekly gains still in the red

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Ripple’s XRP token is worth $1.14 having increased by 2.22 percent since yesterday

It seems to unable to break through its current threshold, indicating a lack of buyers at higher prices

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Solana is struggling to keep up with the rest of the market

Data shows that bulls have used to opportunity to aggressively ‘buy the dip’ over the last one week

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Solana’s currently priced at $149.33

The cryptocurrency is down by a marginal 0.09 percent since yesterday

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Dogecoin is up by 2.32 percent

It’s current price is $0.2349

Credit: Business Insider India

Disclaimer

These are the top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of October 14, 11.30 am IST and may change over the course of the day.

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