Bitcoin is currently one of the most popular cryptocurrencies in the world these days. It wouldn’t be an understatement to say that the price of BTC is simply the highest in the market of cryptocurrency since there are so many competitive prices available. However, the recent market of Bitcoin has been going through some rough times.
There have been some pretty frequent changes and fluctuations in the prices of BTC. Still, it can be said without a single speck of doubt that the community of Bitcoin has faith in cryptocurrency.
There is still hope for Bitcoin since it is gathering for a pretty high close this week. The weekly candle’s end would definitely give way to having a target that is more pressing for Bitcoin and that has the potential to change the market scene as well.
The Bitcoin world is filled with predictions and speculations for sure. Since the market is so interchangeable, there are different analysts and traders who keep making certain predictions about Bitcoin. So, in order to have an update on the market, it is important for investors to know more about the rise and fall of the prices of BTC. Since Bitcoin is considered to be one of the most popular cryptocurrencies in the list of regulated crypto exchanges, it is really important for people to know more about it.
According to the latest report on the performance of Bitcoin, the cryptocurrency was definitely on the verge of creating a new high for the weekly close on the 13th of February. This was just after the Bulls managed to keep the market of Bitcoin above $42000 in the best way. This would have definitely been a very big win for BTC since the digital currency has been going through a pretty rough phase for sure.
Bitcoin Might Welcome A Potential CME Gap
According to the data shown from the TradingView and Cointelegraph Market Pro, the different stress-free conditions that have been established for BTC have been properly tracked and the new candle for the weekly close is supposed to be properly concluded just under the time period of 12 hours. So, there is still hope for BTC to perform well in this sector for sure.
Bitcoin has been going through some changes in the past few weeks with certain fluctuations in the prices for sure. Not to mention that it had also briefly dipped below the $42,000 mark before recovering, this setting it up to challenge last week’s close of $42,400 on Bitstamp. Should it succeed, the close would be a three-week high, Bitcoin nonetheless keeping traders guessing as a matter of a few hundred dollars separate the upcoming close from the last.
Others were focused elsewhere, among them Cointelegraph contributor Michaël van de Poppe, who argued that Monday’s CME futures open would likely dictate a near-term price target regardless.
“Don’t be fooled by any move of BTC during the weekend. In the end, the price will come back to CME close of Friday,” he reiterated. CME futures ended Friday at $42,390 — almost exactly at the point of last week’s spot price close.
XRP Has a Standout In the Market
On altcoins, the calm circumstances for Bitcoin played out in a broad lack of action for out-of-hours traders. Out of the top ten cryptocurrencies by market cap, only XRP managed significant gains, climbing over 6% in the 24 hours to the time of writing to cap weekly returns of more than 25%.
The move came in the midst of an ongoing legal saga between Ripple, the major XRP token holder, and the United States regulators over its status as a security.
