- Dealer Michael Van De Pope has predicted that the cryptocurrency market cap will enhance to $1.6-1.9 trillion.
- The complete-time dealer indicated constructive developments and a help/resistance reversal at $1 trillion.
- Bitcoin (BTC) traded at $27,857.19 as we speak, whereas Ethereum (ETH) modified arms at $1,894.55.
Famend dealer and CEO and founding father of MN Buying and selling, Michael Van De Pope, just lately shared insights that caught the eye of the cryptocurrency group. In a current tweet, Van De Pope claims that the whole cryptocurrency market capitalization may attain a powerful vary of $1.6-1.9 trillion.
Van De Pope’s forecast relies on two key indicators that reveal the potential for important market development. First, he factors out that the whole market capitalization per $1 has constantly exceeded the 200-week transferring common (MA) and the exponential transferring common (EMA). This means a constructive development and a strong foundation for additional development.
Moreover, Van De Pope highlights sturdy help and resistance (S/R) on the $1 trillion stage. This alteration represents a big change in market dynamics and is commonly a possible catalyst for elevated strikes. Van De Pope’s remark of this growth provides to his prediction of a doable market rally.
In different associated reviews, the preferred cryptocurrencies are on the rise, in accordance with knowledge from CoinGeck. Bitcoin (BTC) value as we speak is $27,857.19 with a 24-hour buying and selling quantity of $15,874,396,111. This represents a value enhance of two.32% within the final 24 hours and three.21% within the final 7 days. Bitcoin with a circulation of 19 million BTC has a market cap of $540,745,255,572.
Then again, Ethereum (ETH), the second largest cryptocurrency, is valued at $1,894.55 as we speak with a 24-hour buying and selling quantity of $8,158,737,739. This represents a value enhance of two.85% within the final 24 hours and three.83% within the final 7 days. The turnover is 120 mln. ETH, Ethereum has a market cap of $228,100,232,112.
