On Christmas eve in the Catholic calendar, a miracle happened: the course leading cryptocurrency continues to grow. Compared to the previous week, the level of market capitalization of digital assets grew by $40 billion and reached $142 billion.
Christmas rally is in full swing.
On Sunday, Bitcoin (BTC) managed to stay at around $4.000. On Monday, the coin went back into growth: BTC has risen over the day by 3.06%. The price is Ethereum (ETH) increased by 14.45%, buyers managed to break through the resistance barrier at $140 and reinforce an upward trend. Compared with the minimum index for December ($85,5), ETH rose by 72%. Technical indicators indicate a continued bullish trend, so in the near future the cost of Ethereum will rise to $155.
Bitcoin Cash (BCH) literally took off on a jet engine for a 3 day (18-21 Dec) from $87 to $216 (148%). BCH was able to return to 4th place in terms of capitalization and even increase the lead over closest opponent EOS to $1 billion. It is worth noting the dynamics of the growth rate Tron (TRX): over the past week, the coin has risen by 65% to $0.021.
The level of capitalization of crypto-currencies climbed for a seventh day in a row. In recent days he increased by 7.5% and reached $144 billion. The daily trading volume of digital assets is also at a high level - $24.6 billion.
Ethereum is the best choice for short-term investments.
Despite the growth rate Ethereum for the past week, the asset lost value 91% compared to a historical high of$1.448. That is why Christmas rally does not mean the change of bearish trend to bullish. There is a high probability fall in the value of digital assets.
According to cryptocurrency Analytics under the pseudonym Hsaka, Ethereum is the optimal choice for short-term investments due to the high volatility of the exchange rate. He said: "Between markets Ethereum and Bitcoin there is a big difference. If you earn on short-term trade, your choice - ETH. For a more long-term investments better suited BTC".
The famous trader The Crypto Dog argues that Bitcoin rate will meet strong resistance on the way up to $6.000. In his opinion, the trend is not to say as long as Bitcoin will not overcome the barrier of $6,000. The Crypto Dog asserts: "resistance Zone around $4.000 – $4.500 slow upward trend. There is a chance that the BTC price will rise to $5.400, maybe even up to $6.300, but not above that figure".