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Wednesday, November 25, 2020

Bitcoin vis-a-vis Altcoins: Who Is Winning?

The price of Bitcoin has been on the rise by more than 1200 US dollars. It has come up to an amount of 14,500 bitcoin prices. Bitcoin had to break many hurdles nearly 15,000 dollars and 15,500 dollars. The trading was as close to 16,000 dollars resistance level and finally began a downside correction. 

However, here this was a break up below 15,750 u\Us dollars level and the current price is 15,500 dollars. There was an initial downside near about 15,350 US dollars level but the base main support is now gradually forming near the amount of 15,050 US dollars and USD 15000 levels. After avoiding hurdled the 15,750 US dollars might go up to 16,000 US dollars in bitcoin. 

The price of Ethereum

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Recently the price of Ethereum also started following the same growth of bitcoin. Ethereum broke about 425 US dollar resistance and increased to 440 US dollars. Even though the price of Ethereum is lower than that of bitcoin, it is better than the price i.e 420 US dollars, which was priorly set. There is a possibility that it might go up to at least 450 US dollars or above 452 US dollars with the push in price.

The price of Bitcoin Cash, XRP, and chainlink roughly estimated

It is seen that the price of Bitcoin is up by at least 3 percent moving ahead of the resistance level from 245 US dollars to 250 US dollars. It is estimated that with the push in price there might be a surge in the price of bitcoin of about 265 US dollars to a level of 280 US dollars. Chainlink (LINK), on the other hand, with the help of a strong support base rose up to the level of 10 US dollars from 9.80 US dollars. As a result of this, there has been a new increase in resistance level amounting to 10.50 US dollars. 

It is also predicted that the resistance level might be an increase in some time to 11 US dollars or even further to the amount of 12 US dollars. However, amidst other altcoins comes in, XRP. The price of XRP has also been on the rise. The price of XRP rose above the amount of 0.245 US dollars and moved straight into the positive zone. 

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The struggling XRP has also, unlike bitcoin, taken a long time to rise itself to a resistance level that could exceed an amount of 0.255 US dollars. In comparison to altcoins, bitcoin is making a success. In the past few hours, however, altcoins such as UNI, MANA, SNX, CVT, and a few others have risen by 10 percent. Even though there is a subsequent rise in altcoins, bitcoin cannot be compared to the rise. The current price of the bitcoin is 15,452.60 US dollars. 

As it can be seen that the last threshold of 15,350.60 US dollars has also been exceeded in a humungous manner. This is why it is safe to say that bitcoin is doing better in comparison to other altcoins.

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