Crypto markets move sideways, Bitcoin remains below US$8,800

The crypto markets are mostly moving sideways, with the top 20 not changing more than 1% in any direction.

Bitcoin (BTC) has moved sideways for most of the day and therefore remains just below the 8,800 US dollar mark. Although the market-leading crypto currency was able to recover over the course of the day from the interim low of 8,705 US dollars to the current price level of 8,750 US dollars, this represents only a minimal gain of 0.27% overall. The market leader is having problems consolidating in the current region, which is why some experts, including Cointelegraph analyst Michaël van de Poppe, suspect that Bitcoin could slide to 8,400 US dollars.

However, Bobby Lee, an important voice in the crypto industry, is not worried about the current market situation, so he recently expressed his confidence that Bitcoin will one day be able to crack the market capitalization of gold and reach a market value of 1 million US dollars.

Ether (ETH), the number 2 among crypto currencies, has meanwhile reached a price of 186 US dollars. The leading old coin moves “lame” like Bitcoin, but makes a small loss of 0.1%.

 

Cointelegraph expert Rakesh Upadhyay, meanwhile, predicts that an upswing above the 197.75 US dollar mark could give ether a new boost, climbing it to the resistance range of 223.99 – 235.70 US dollars. However, if the bears are able to push Ether’s price below the $173,841 support level, a slide to the $151,829 – $161,056 support range may be imminent. XRP, the third largest crypto currency, is at 0.271 US dollars at the time of going to press, representing a slight daily loss of 1.44%. At the annual swell conference, Ripple CEO Brad Garlinghouse reiterated that he was not interested in XRP’s short-term price performance, but rather in the big picture.