Bitcoin and Ethereum Both Hit New highs, Whether They can Stabilize Depends on the U.S. Stocks

 2021-04-13 10:05:16

The Bitcoin market yesterday fell below $60,000 after failing to reach a new high. Today, it is making a comeback and it has risen again. It can be seen that today's market volatility has obviously begun to increase, and it first broke through the high of $61,400 in the previous two days. Then it quickly fell back to around $60,000. Longs and shorts competed fiercely near the new high. But in the end, the bulls were slightly better. They have successfully broken through the new high and continued to rise after the breakthrough, directly breaking through the coveted $63,00 line, per Bexplus.


Yesterday, the market had a chance to hit new highs, but unfortunately it was brought down by the waterfall of BNB. In addition, the performance of US stocks was not good, so there was no further high. Today, Bitcoin is getting more and more courageous when other currencies are underperforming. It is a bit blood-sucking, especially the platform currency sector and the Defi sector, which performed very strongly yesterday. At present, funds seem to be flowing to the Bitcoin market.


Although the price is currently rising, traders should still pay attention to the follow-up trend of US stocks, especially in the case of today's Bitcoin rising without stepping back, there are still concerns about a fall. The most ideal trend at present is that the market will continue to rise for a day or two, and then it will fluctuate if it fails to rise, so that other currencies can be revitalized at the same time.


ETH: It also broke through $2,200, but the increase seems to be relatively ordinary, just simply follow the rising market. In this case, traders need to pay attention to whether Bitcoin will fall more severely if it starts to pull back.

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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