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- Bitcoin reached its new 2020 high of $ 15,950, presenting its highest price since January 2018 and has almost added 12% in the positive move of the past 24 hours.
- Global market cap reached $ 445.20 billion, which led to an 8.36% increase on the day
- The total volume traded in the past 24 hours reached $ 209.80 billion with a decline of -78.94% on the day
- The dominance of the king of cryptocurrencies reached 67.00%; however, it corrected quickly and currently stands at 65.38%, up 0.78% over the day.
BTC Attempts for 16K Notching New 2020 High; Ethereum broke above $ 420 and hit new highs for the month
The bullish November is affecting overall market conditions, where Bitcoin is currently in a record-breaking rally. Price levels attempted $ 16K and hit 33-month highs reaching $ 15,980. BTC price levels are now closer to its full recovery, as it is at 80% of its all-time high. On the other hand, Ethereum rose above the significant resistance level of $ 420.00, hitting new levels for the month. Some of the altcoins have also shown significant positive momentum such as Aave, Uniswap, NEM, XLM. However, competitive altcoins like BCH, BSV, XRP, etc. have failed to reach new highs for the year as well as trading positive in the current market session.
Bitcoin price predictions
With the significant positive rally in the market session on Friday, Bitcoin outperformed major financial institutions and assets for the year. Price levels attempted a positive breakout above $ 16K and nearly rose 12% in the attempt. However, price levels reversed from $ 15,980.00, indicating that the crucial $ 16k sign may be a newly built resistance. The CMP is currently positioned at $ 15724.44, with an overall gain of 9.63%, bringing the market cap to $ 291,456,187,869 and the 24-hour trading volume to $ 75,389,955,929.
The fear and greed index is justifying this significant positive upside made by BTC when the index rose to 90 valuations, extreme buying greed among investors for BTC. The index hit the 90-plus mark for the first time since January 2018, indicating that positive momentum for BTC may not be over as quickly, and we could see it gaining new levels of up to $ 19K later in the market.
Ethereum price predictions
Ethereum also performed significantly positively with Bitcoin as levels rallied above the significant $ 420.00 resistance level in Friday’s market session. However, the ETH / BTC pair is still performing negatively with a loss of -1.81%, taking the current level to 0.02754075 BTC, doubting the sustainability of the recent positive rally. The CMP is positioned at $ 432.99, with an overall gain of 7.63%, bringing the market cap to $ 49,062,498,992 with the 24-hour trading volume of $ 18,534,150,681. The levels have moved back slightly from the $ 435.00 price level, building a new resistance point.
Litecoin price predictions
Litecoin managed to break out of the significant $ 60.00 resistance level with significant bullish sentiment prevailing in general market conditions. The CMP is positioned at $ 61.22 with a significant overall gain of 10.37%, bringing the market cap to $ 4,029,510,815 with a 24-hour trading volume of $ 3,821,682,896. The LTC / BTC pair turned positive with an overall gain of 0.63%, taking the current level to 0.00389280 BTC. Price levels will now face a significant resistance level of $ 65.00.
Ripple price predictions
Ripple also broke above the $ 0.250 resistance level, posting an overall gain of 6.29%, taking the CMP to $ 0.254297. However, the XRP / BTC pair continues to decline, which reduces the credibility of the current bullish rally. The pair is facing an overall loss of -2.635, taking the current level to 0.00001620 BTC. Market capitalization reached $ 11,515,736,276 with the 24-hour trading volume of $ 6,272,053,392. XRP must aim for price sustainability at the same time, moving positively. Furthermore, the XRP / BTC pair must turn positive to take a significant recovery action in the market.
Chainlink price predictions
Chainlink broke through the crucial $ 11.00 threshold with a significant 7.75% bullish rally, taking the CMP to $ 11.28. The overall market cap for the crypto asset reached $ 4,406,291,421 and the 24-hour volume was trading at $ 1,531,093,663. The LINK / BTC pair performs negatively with a marginal loss of -0.93%, taking the current level down to 0.00071827 BTC. Levels retraced slightly from the $ 11.50 price level could question the sustainability of the current positive move.
