Bitcoin, Ethereum, Binance, Kadena Price Analysis — 16 December Morning Prediction
https://ift.tt/30w5qMs
TL;DR Breakdown
- Bitcoin shows off a green chart after weeks of red.
- Ethereum rises back above $4,000 after a 5.19% value increase.
- Binance Coin closes the gap between itself and $550 value.
- Kadena (KDA) surges up ranks with gains of 32.98%.
- Global market cap sees a 4.07% value increase.
After weeks of nothing but losses, we finally see some green in the charts of most cryptocurrencies, except for Near Protocol and Quant among the Top-100 digital currencies, which are the only losers in the bullish run. The bullish state of crypto now has guided some positivity to the market, and it is good to see all the top cryptocurrencies in the green instead of a queasy shade of red.
The recent bullish runs have caused Bitcoin to show green charts and boosted all cryptocurrencies’ market caps. This, in turn, caused a market cap influx of 4.07% and has led the market cap up to $2.28T. It seems that the top ten cryptocurrencies have had a field day in recovering their lost values. Some notable mentions are Solana’s (SOL) 11.93% influxes and Cardano’s (ADA) 5.65% increases.
Although it’s good to stay skeptical about the recent market cap influx, no one can be sure if this bullish run can help our cryptocurrencies up the stakes. As the crypto market is vast and ever-changing, there’s no certainty that tomorrow will be a bearish run or not. We can only hope that this trend of green charts continues long enough for the top currencies to revive their values.
BTC surges up to $49k by a small margin
Bitcoin has shown less improvement than the other cryptocurrencies, partially due to its large value. Even a 1.89% price influx for Bitcoin is a margin of several hundred dollars which is no easy feat. Bitcoin seems to have the only green chart among the top five, and its market cap has shown influxes of billions that have led it up to a $929 billion market cap.
Alongside the market cap of BTC, its trading volume has seen a rise as well up to $36 billion by 21.66%. Bitcoin’s market value rests at $49,170 at the time of writing. If Bitcoin continues at the current rate, it might overcome $50k very soon. We anticipate seeing what comes next for Bitcoin’s journey back to $58k.
ETH and BNB cross their lowest values.
The trend for losing Ethereum and Binance seems to have come to a halt as prices hike upwards. Ethereum had seen a low of $3,700 this week which has not been a pretty sight after so long of being above $4,000. Now, it seems to have regained its composure somewhat and has hiked up $215 in price and now trades at $4,066. Its market cap has seen an influx of 5.72% and has led to a value of $481,089,484,143.
Binance Coin has not seen price rises by a large margin but has still taken a step upwards since the bearish run, having shown the lowest price of $505.93 yesterday morning. Today, it has reached $545.43, and its market cap has gone up by 3.00%, up to $89 billion. Ethereum and Binance have high hopes to pick themselves up in no time, as they’ve done so many times before.
KDA moves up the ranks
Kadena is a company that offers blockchain solutions for all types of occasions. From Bitcoin security to smarter contracts and unparalleled throughput, it offers a wide range of materials for blockchain integration.
Like ETH on Ethereum, KDA is used to pay for computing on the Kadena public chain. It has seen an influx of 32.98% today, and its price has risen to $13.84. Its market cap has risen by 39.43% up to $2.2 billion, leading it to increase its ranks to #63.
Conclusion
The recent bullish run has created many questions in the crypto market’s mind, how long will it last? Will it be enough to allow Bitcoin, Ethereum, BNB, and the rest to recover? Or will the bullish run end as soon as it started and give rise to a stronger bearish run? In the end, only time will tell, but it’s important not to let the fluctuations in the market values fluctuate your mood.
Cryptocurrency
