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After a two -week pause, when most cryptocurrency courses decreased, The rise began on the crypto. At the same time, each individual coin had its own growth catalysts.
Bitcoin
Past with 10 by 17 February week became positive for BTC fans. For this The period of time historically the first cryptocurrency added more 10%. 16 February Bitcoin even traded above a psychological important mark of $ 25,000 for some time, but could not stay there. He later fell below $ 24,000. Now the BTC is trading at $ 23,800 (At the time of preparation of the material).
Source: tradingview.com
What served as a growth driver after two weeks of calm in the market? News, which would shock the cryptocurrency world, Not observed. Here you can rather agree with the founder and CEO of Pixelmatic Samson MOU (Samson Mow), who wrote on social networks
following:
“Analysts and media experts will talk about bitcoin, attributing it to the growth of a specific reason. There is no other reason, except that, that bitcoin is bitcoin. It is made for that, To incorporate all monetary value in the world ".
In the end, the growth or drop in the price of any asset is determined only by the desire of people to purchase it or sell it. Another thing, that there are some factors, spurring investors to make certain decisions.
In this case, two factors could play: One fundamental, The second technical. The first is, that the February inflation data in the United States did not surprise anyone and by and large
were predictable. Consumer price index in 6,4% turned out to be minimal since October 2021 of the year. truth, He is still extremely far from the target indicators of the Fed 2%. What, By the way, causes fears of a number of experts.
for instance, Michael Novogranz (Michael Novogratz) worried, that the actions of the head of the US Federal Reserve Jerome Powell (Jerome Powell) will not allow bitcoin to grow normally. Wherein, The businessman believes, By the end of March, the price of BTC will still reach $ 30,000.
The technical factor is rather a medium -term upward trend. Although a couple of weeks in early February was a negative for BTC, The overall growth trend has not changed. In any case, on this thesis, the opinions of experts vary.
The German trader under the nickname Donalt does not see the prerequisites for excitement, Until the price of Bitcoin, does not fall into the area of $ 19,000. But the famous analyst Benjamin Cowen (Benjamin Cowen) He drew the attention of the cryptocurrency community to the appearance of the “Cross of Death” on a weekly schedule-a 200-week sliding average crossed a 50-week sliding average from the bottom.
Is it so? Yes, This can be seen from the figure below, where a 50-week sliding medium is marked with a red line, And 200-week blue.
Source: tradingview.com
Who is right here? The final answer to the question will only give time. If you look in the medium term, then there are really few reasons for excitement. 200-A weekly sliding medium covers the period of almost four years, And 50-week per year. This applies to medium -term investment with a stretch.
Now the coin has tested the resistance level of $ 25,200, and before that did not fall below the support level of $ 21,473. If the latter still happens, Then you should think about closing positions.
Source: tradingview.com
The index of fear and greed for a week from neutral status went into a zone of greed. Its value is 61.
Ethereum
Ethereum over the past week showed growth in 9,41%: A little smaller, than bitcoin. The greatest increase in price was observed on Wednesday 15 february, when the coin grew on 7,63%. 16 February Ethereum traded above $ 1,700, However, in the evening he fell.
Source: tradingview.com
The main driver of the future growth of the coin may be its declared deflation in nature. More than 25,000 ETH has been burned since the merger. If counted at current prices, then this is equivalent to the amount, exceeding $42 million. It is logical to assume, that once the offer of cryptocurrency is reduced, then it can grow in price. In any case, to Shanghai fork.
Source: ultrasound.money
By the way, On the eve of this fork, the tests of Zhejiang subcuts continue. A miscalculation of PRYSM Client PRYSM with a Besu client of the Proof-OF-OF-STAKE Client was revealed in the outgoing week, intended for permitted use options. Representative of Ethereum Foundation Tim Beiko (Beiko team)
He assured, that the problem will be eliminated and will not affect the terms of updates in the near future.
In terms of technical analysis, the broadcast was able to bounce off the level of support in $1501,16 And again storms the resistance level of $ 1,676.8. If you can get ready above, then you can expect a continuation of the tendency.
Source: tradingview.com
Dogecoin
Dogecoin added in a week 6,8%. In terms of numbers, this is comparable to BTC and etherium, But the situation is somewhat different. If the two largest cryptocurrencies in the world are in the area of local maximums, then Dogecoin is far from them.
Source: tradingview.com
The base of all body -projection of the meme cryptocurrency, As in the past, draw up statements by Ilon Mask (Elon Musk). This week was no exception, when a billionaire has posted on Twitter a thread about that, that the best general director for the social network would be his Floki dog.
From the point of view of technical analysis, the nearest resistance level $0,0919, And the support level - $0,0788.
Source: tradingview.com
In general, a week for crypto -investors has developed well: Almost all coins have grown in price. Nonetheless, at maximum values 16 February on Thursday, no one could resist.
This material and information in it is not an individual or other other investment recommendation. The view of the editorial office may not coincide with the opinions of the author, analytical portals and experts.