What cryptocurrency to pay attention to this week?
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What cryptocurrency to pay attention to this week? Bitxmi experts opinion
Bitxmi experts named six coins to watch out for in the coming days: from NFT tokens to the largest digital money by capitalization
Bitcoin continues to grow in price after it updated the local minimum at around $ 50 thousand on March 25. Over the past 4 days, it has risen in price by almost $ 8 thousand – to $ 58.1 thousand. Following bitcoin, altcoins are also growing. According to CoinGecko, the market capitalization over the past day increased by 3%, to $ 1.8 trillion. BitXmi experts told which coins should be paid attention to in the coming week.
In the next 1-2 days, the first cryptocurrency can update the historical maximum value of $ 61.8 thousand. Now the mood in the market is bullish again, and the volume of buying call options shows that investors are waiting for the bitcoin rate at the level of $ 80 thousand by the end of April.
Bitcoin has demonstrated the ability to withstand bearish attacks. Sellers have not been able to push the rate below $ 50 thousand, but by the end of this week they may try to do it again, experts warn. If this does not happen, then, most likely, it is worth waiting for the recalibration of investment portfolios before the start of a new trading month. Perhaps, investors will demonstrate their mood on April 1.
The next interesting asset on the cryptocurrency market may be Cardano, since two important events for the project may take place in the near future. First, Flare Networks blockchain will decide to integrate Cardano. Secondly, in April, the Alonzo hard fork may take place, which in the future will allow the deployment of smart contracts on the Cardano blockchain. All this will have a positive effect on the token quotes.
At the end of 2020, XRP became four times cheaper. This was due to the claim of the US Securities and Exchange Commission (SEC) against the leadership of Ripple, but, as subsequent events showed, it is unclear how the regulator will act. An initial request for submission of documents must be made by March 31st. It is likely that representatives of the SEC and Ripple will comment on this event, which could greatly affect XRP quotes.
It is worth keeping an eye on the leaders in certain areas, especially in the DeFi sector. The experts identified the Polkadot and Uniswap projects. The strengthening of bitcoin will spur the growth of other popular coins, especially the Uniswap decentralized exchange. If the trading volume on it continues to grow, then the demand for the token will increase.
In addition, the Polkadot quotes have stabilized near a strong resistance level. Technically speaking, the moment of a breakout or strong bounce can occur from March 31 to April 1, when investors recalibrate their portfolios.
Investors wishing to take additional risks can pay attention to the projects of the NFT (non-fungible token) market, for example, WAX, which is gaining new strength after the correction. According to experts’ forecasts, altcoin quotes may grow 2-3 times from current levels.
Attention! Bitxmi does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.
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