On Friday the bitcoin moved higher than $3,700 for the first time in a very long time, seemingly on the back of zero catalysts. As usual, all the other altcoins followed, and Litecoin (LTC) posting a 30% gain, as a majority of other cryptocurrencies posted daily returns that ranged between BTC’s 8% and LTC’s 30%.
This move, which was the first bout of notable crypto volatility in a few weeks, pushed the aggregate value of all cryptocurrencies beyond $121 billion.
Some of the most notable analysist claim that the upside move of the cryptocurrencies, mostly the bitcoin, is inbound due to technical analysis. He subsequently remarked that upside is inbound, drawing an arrow to the $4,300 price level.
Another analysis, which was optimistic first and foremost, noted that the bicoin could trend slightly lower, potentially retesting its yearly lows, before breaking above $4,000, which would confirm a recovery and moving back above $5,000, $6,000 and beyond by the end of the year.
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