The overall market capitalization of cryptocurrencies has returned to about $2 trillion. Bitcoin reached a daily high of around $43,300 earlier today. The bulls look to have regained control after closing the weekly candle at above $41,000 last week.
It’s unclear whether Bitcoin will be able to break above the $45,000 barrier level, which it was denied earlier this month and in February.
On Tuesday, the second largest cryptocurrency, Ethereum, crossed the $3,000 price level, prompting price forecasts. The new increase comes after a slow climb from the $2,500 price level, where the pair was a week ago.
At the time of writing ETH is trading inches above the $3,000 mark and has gained more than three percent.
Will BTC Price hit $60k by May 2022?
Bitcoin, Ethereum, and Cosmos are all expected to see prolonged gains, according to a well-known crypto trader. According to Inmortal, a pseudonymous crypto expert, he’s looking at Bitcoin’s inverse chart and predicts BTC grinding higher in the next months.
As per Inmortal’s inverse BTC chart, the strategist believes Bitcoin will build higher-low settings on its way to $60,000 by May. In order to maintain its bullish momentum in the short term, Inmortal believes Bitcoin must rise above its immediate resistance.
At the time of writing BTC is trading at $42,581.93 and is up by more than three percent.
Inmortal is also keeping a close eye on Ethereum (ETH/BTC) in its Bitcoin pair. ETH/BTC has managed to break its negative market structure, according to Inmortal, and is now poised to make its first upward high in over three months.
“First signs of reversal on ETH vs. BTC after 100 days downtrend.Higher highs + higher lows = 0.074 BTC [$3,047].”
Cosmos is the next coin, a blockchain ecosystem built to scale and communicate with one another. Cosmos is expected to climb over 33% from its current price of $27.85, according to Inmortal.
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Source: https://coinpedia.org/altcoin/heres-when-bitcoin-btc-might-hit-60k-ethereum-eth-cosmos-atom-primed-for-insane-rally/