Crypto analysis: Bitcoin (BTC) and Cardano (ADA) chart analysis

Crypto chart analysis (BTC & ADA):

Crypto analysis
BTC & ADA chart analysis

The price of Bitcoin is $44,151.56 USD. In the last 24 hours, it went up by 1.57%. The highest price during this time was $44,232.94 USD, and the lowest was $43,523.73 USD. The trading volume, which is the total amount of Bitcoin traded, is $24,318,615,962 USD. This high trading volume indicates that many people are buying and selling Bitcoin. Overall, Bitcoin has shown a positive trend in the past day, and the prices have remained within a relatively small range. This suggests that the market is somewhat stable. Investors are active, and the value of Bitcoin has increased slightly, making it a notable day in the cryptocurrency market.

Right now, the price of Cardano is $0.557463 USD, and it went up by 22.31% in the last 24 hours. In simpler terms, the value of Cardano increased quite a bit. The highest price today was $0.561017 USD and the lowest was $0.44725 USD yesterday. A lot of people have been buying and selling Cardano, which is why we say the trading volume is high. This increase in price is happening not just for Cardano but for many other digital currencies too.

BTC crypto chart analysis:

Crypto analysis
BTC crypto chart analysis

The price of Bitcoin has gone up by almost 23% for people who own BTC in the last month and 15% in the last week. A crypto analyst and Web3 investor named Credible Crypto thinks that the price of BTC will keep going up and might reach $50,000 in the third week of December. This analyst mentioned that $30 million more in Bitcoin bids have been added, and whether the BTC price drops to $42,000 or not, it could still reach $50,000.

The analyst looked at Bitcoin's price on short timeframes and predicted a correction because there aren't enough buyers in the market. They suggest that there needs to be a big change for Bitcoin's price to go up to $50,000. Credible Crypto advises traders to be cautiously optimistic in the short term but remains positive about Bitcoin's price in the long run.

Cardano (ADA) crypto chart analysis:

Crypto analysis
ADA crypto chart analysis

Cardano's price went up from $0.38 on December 1 to $0.50 early on Friday, showing a 31.5% increase in just eight days. Right now, at $0.52, about 80% of Cardano wallet owners have made profits. However, there's a risk of the price going down if those wallet owners decide to sell and take their profits. This is because selling would put more pressure on the asset.

Looking at the data about who owns Cardano, it seems that big investors with lots of ADA tokens started selling on September 24. On the other hand, smaller investors with between 1,000 and 1 million ADA coins have been buying consistently. This shift from big investors selling to small investors buying might seem like a bearish sign, but surprisingly, Cardano's price has gone up despite this.

A metric called the Market Value to Realized Value (MVRV) ratio, which looks at the profit potential of recent buyers, is at 19.59% for the past 30 days. This is the highest level in three months and could be a sign that the price might go down soon. As of now, Cardano is trading above $0.50, giving ADA holders almost 38% gains for the week.

Post a Comment