Crypto market August 22: Bitcoin price hits $ 49,500. However, the US $ 50,000 mark couldn’t be exceeded. At the time of writing, BTC is trading at $ 48,922 after posting a 4% acquire over the previous seven days.

Crypto Market Aug 22: Bitcoin price struggles to interrupt the $ 50,000 resistance

August was a robust month for BTC because the cryptocurrency is up 20% for the reason that starting of the month. The rise in price benefited Altcoins, which additionally noticed giant positive factors in August.

Recently, Santiment (World Data Center) additionally did a fast ballot on Twitter when Bitcoin was trading at $ 48,900. However, when will the crypto asset see the following $ 50,000?

Surprisingly, after a day of surveys, the reply is that almost 50% of individuals imagine that BTC will cross the $ 50,000 mark in “24 hours to 1 week”. The the rest, 27.2%, stated the reply was “within 24 hours”.

Has Bitcoin elevated after that? While rising costs is a controversial reply proper now, it is protected to say that each buyers and the community are doing positive proper now. Over the previous two months, realized revenue has elevated because the revenue / loss ratio continues to progressively enhance. In addition, unrealized positive factors additionally hit a 3-month excessive on August 21.

Crypto Market August twenty second: Altcoins loved income

While BTC has struggled to interrupt key ranges of resistance, Altcoins have made some first rate positive factors.

Most notable is Avalanche (AVAX). AVAX was up greater than 30% yesterday. The transfer follows a month-long bull run of the undertaking that noticed AVAX up almost 400%. The undertaking is presently not removed from an all-time excessive. AVAX’s bullish motion will be attributed to the latest announcement that the undertaking will present liquidity mining for Curve (CRV) and Aave (AAVE). With 180 million US {dollars} in tokens, tokens might be made out there to this system.

Solana (SOL) has additionally gained momentum these days. The undertaking hit a brand new all-time excessive on Saturday at $ 81.25. The undertaking continues to develop in significance having lately been included within the prime 10 initiatives by market capitalization. At the time of writing, SOL has a market cap of $ 21.2 billion.

Cardano (ADA) additionally hit a brand new all-time excessive of $ 2.58 on Friday. The undertaking is presently the third largest crypto undertaking behind Ethereum and has surpassed Binance Coin (BNB) and Tether (USDT). It seems that Alonzo’s improve is having a big impression on investor sentiment. The improve goals to open up the good contract performance and repair what critics have described as one of many community’s most obtrusive flaws. The improve is predicted to occur on October 1st, though some are betting that it’ll go and be launched.

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