The first quarter of 2021 is expected to end on a positive note for the cryptocurrency market, with Bitcoin on the verge of passing the symbolic €50,000 ($60,000) price again. The king of cryptoassets is trading around €49,400 ($58,000) this March 31. From a technical perspective, the bullish trend was never in question during the month of March. Statistics from the Bitcoin blockchain continue to show that the movement of bitcoins between wallets remains low, suggesting that many investors are still holding on to their bitcoins and are not interested in selling at this time.
Altcoins are also benefiting from this trend. Ethereum (ETH) is approaching $2,000 again and projects like Filecoin (FIL) or Solana (SOL) are performing above 20% in the top 20 capitalization.
This week was also marked by announcements from major payment players on future solutions to settle payments in cryptoactives or stablecoins. News that goes towards a more massive adoption of the sector and therefore positive for the price of most stocks. On the macroeconomic front, a new $3 trillion plan is desired by US President Joe Biden to support public infrastructure. This decision comes at a time when the vaccination campaign is already massive in the United States, with a gradual return of consumption and investment. A situation that strengthens the dollar for the moment, but that could eventually lead to uncontrolled inflation and therefore an appreciation in the value of the main cryptocurrencies.
According to CoinGecko, the market capitalization is growing and approaching $1900 billion.
Bitcoin’s dominance drops slightly to 58.2% market share.
The best performance of the top 50 is attributed to Holo (HOT) with +117% over one week.
We invite you to discover our video analysis (in french and dated from March 30):
Bitcoin (BTC)
The Coinhouse recommendation : Buy
The price of Bitcoin is trading at around 49,400€ ($58,000) on March 31, up 5% on the week. The 42,200 and 44,100€ ($50,200 and $52,300) pivot zone has acted as a buying zone as expected. The price is heading back towards $60,000. The break of the €50,700 ($61,800) will be a strong confirmation of trend continuation. A new partial profit zone is now located between 58,800 and 62,700€ (69,000 and 73,500$). We will also be watching the RSI indicator on the chart, if it breaks back above the descending oblique drawn in gray, this indicator would reinforce the signal of a new bullish phase on Bitcoin.
Ethereum (ETH)
The Coinhouse recommendation : Buy on breakout
Ethereum (ETH) is gaining 7% to trade at €1,530 ($1,790) and is closing in on major resistance at €1,600 ($1,900). The area identified last week between $1,540 and $1,620 was also a good place to buy. For those who have not yet taken a position in Ethereum, the strong buy signal will be to end the day above €1,600 ($1,900). We will then have a strong chance of making a new all-time high on Ethereum. The next area of partial profit taking remains between 1,930€ and 2,100€ (2,300 and 2,500$).
Polkadot (DOT)
The Coinhouse recommendation : Wait
Polkadot (DOT) is slightly down by 2% on the week to trade at around 29€ (34.25$). After a strong uptrend at the beginning of the year, Polkadot’s price is consolidating. This is still a positive phase and does not question the underlying trend on the asset, which remains bullish. This consolidation is taking place between 24.30 and 34€ (28.50 and 40$). Each time the price returns to the area around $28 to $30, these are opportunities to take a buy position. On the contrary, the approach of $38 to $40 is an opportunity to sell partially. On the other hand, a clear bullish break of $40 will be a strong buy signal to play a new historical high on Polkadot.
All information in this article is provided for informational purposes only, although it has been compiled from reputable and reliable sources. It does not constitute an offer to buy or sell digital assets, nor does it constitute an offer to provide services in respect of digital assets, nor does it constitute advice, inducement or recommendation to deal in such digital assets. It constitutes simple information that is under the user’s absolute control. We inform you that if you choose to invest in digital assets, you must be aware of our general terms and conditions of sale (https://bit.ly/2FGW2ek) and accept the various risks listed and defined on our legal warning page (https://bit.ly/3c4sQKc)
Banks and Institutions Tesla considers accepting Bitcoin as payment for cars again Elon Musk’s firm Tesla is likely to start accepting Bitcoin again in exchange for its products and services, the electric car company indicated on Monday. Tesla had suspended cryptocurrency transactions in May citing environmental concerns. A quote in a quarterly report says the […]
Bitcoin’s price has been on a spectacular uptrend for the past week. The crypto asset is up 32% over seven days and is trading around the €33,500 ($40,000) mark on 28 July. Buyers have clearly regained control, particularly following a sudden price movement on the night of 25 to 26 July, which we return to […]
Bitcoin bends but does not break. That could be the adage of the last fortnight in the cryptocurrency market. However, the technical situation remains poorly oriented, with sellers dominating since the beginning of July. Bitcoin is down 5% in a week and is hovering around €26,300 ($31,000) on July 21. On July 20, the price […]
Bitcoin’s price is not picking up any particular strength at the beginning of the summer. On the contrary, volatility is at its lowest point in the year 2021. The king of cryptocurrencies is near-stable on a week, down slightly by 2.9% and trading around €29,000 ($35,000) this July 7. The long-term trend is still bullish […]
After the sudden drop suffered by the cryptocurrency market on May 19, June is ending with a majority of investors left wanting more. With a slight variation of -7% over a month, Bitcoin is trading around €29,000 ($35,000) this June 30. The last few weeks have been dominated by fear and doubt, with China’s repressive […]
We are once again witnessing a surprising week in the cryptocurrency market. After several days of decline, Bitcoin seemed to lose the important support of €25,000 ($30,000) on the afternoon of June 22. But that was without counting on the reaction of buyers who quickly pushed the price back above $30,000. After this price action, […]
The situation is easing in the cryptocurrency market. Bitcoin has been rebounding nicely over the past week, rising nearly 20% in seven days to trade around €33,200 ($40,000) on June 16. However, we will see in the detailed technical analysis that the price has returned to a key level, with the $42,000 (€34,600) resistance to […]
A wind of panic blew again at the beginning of the week on the cryptocurrency market. Negative news stories have multiplied, contributing to undermining investor sentiment. Yet Bitcoin remains in its range between €24,500 and €32,7000 ($30,000 and $40,000) and is trading this June 10 around €30,800 ($37,000). There is no doubt that the $30,000 […]
After the purge of May, the last few days are plunging the cryptocurrency market into a very indecisive situation. Bitcoin is down about 3% in a week to around €30,500 ($37,000) on June 2. What to remember: Bitcoin’s price has actually been hovering between €24,500 and €32,7000 ($30,000 and $40,000) since May 19. Technically, a […]
Investing in crypto-assets carries risks of liquidity, volatility, and partial or total capital loss. Crypto-assets held are not covered by deposit and securities guarantee mechanisms.
Coinhouse SAS with a capital of €210,000, RCS Paris 815 254 545, headquarters: 14 Avenue de l'Opéra 75001 Paris – support@coinhouse.com. Registered with the AMF for activities related to the purchase/sale of digital assets against legal tender, the exchange of digital assets for other digital assets, and the custody of digital assets for third parties under the registration number: E2020-001.
Coinhouse payment solutions
Company registered with the Paris RCS under the number 914 384 557, registered with the Prudential Control and Resolution Authority as a payment service agent under the number 727503 of the electronic money institution Treezor, headquartered at 33 Avenue de Wagram, 75017 Paris.
General conditions, disclaimers and legal documents.
