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An overview of the cryptocurrency market today Saturday, February 7

After another jump that pushed the BTC to $ 41,000, the cryptocurrency traded below $ 40,000. The value of the cryptocurrency market also reached a slump above $ 1.2 trillion.

Bitcoin touched the $ 41,000 level

After Monday's price drop, the price of Bitcoin was gradually rising until it exceeded the $ 37,000 level. Following this move, the cows raised it above $ 40,000.

In addition, Bitcoin touched the $ 41,000 price level. Thus, the market's top cryptocurrency was just $ 1,000 away from its record 42,000 (approximately 2%).

At this point, the bears took action and did not allow the currency to move further. On the contrary, BTC returned to the daily low of $ 38,000. However, since then, with a slight improvement in price, it has returned to the level of $ 39,000.

Technically, BTC still has to cross the $ 40,000, $ 40,735 and $ 41,000 resistance lines to challenge the $ 42,000 level. Conversely, support levels of $ 38,550 and $ 38,000 could help if prices fall again.

Cardano's new record

In the last few days, most alternative coins have been so successful that they have set new records for currencies such as Atrium, Polkadat and Binance Coin. As a result of these developments, the total value of the cryptocurrency market also reached a record $ 1.220 trillion.

However, the situation has changed somewhat in the last 24 hours. Atrium has dropped more than 2% and is currently trading below $ 1650. Bitcoin Cash (5%) also fell below $ 460. China Link (4-%), Polkadat (2-%) and LightQueen (4-%) are also red today. While BNB and XRP have made small gains.

In addition, Cardano showed the best performance among the top 10 currencies in the market with a significant increase of 23%. As a result of this move, the ADA has reached $ 0.67, which is the highest price for the currency code in the last 3 years.

Decentraland (30%), Dogecoin (21%), Quant (16%), Avalanche (16%), Huobi Token (14%), Elrond (14%) and Decred (13%) have all experienced double-digit price growth. .

Vs. Nexo (-11%), FunFair (-10%), Alpha Finance Lab (-10%), 0x (-9%), Ampleforth (-8%) and Ren (-7.5%) a significant percentage of They have lost their value.

Weekly Gold Analysis Monday, February 7

The ounce of global gold in mid-August 20, in the form of support hit $ 1160 and started a new bullish rally, so that the price of gold rose to $ 2075 over two years. This is a historic price point for gold. The upward movement of gold stopped after hitting the range of 2050-2075 and then we saw the entry of ounces of gold into the downtrend channel, so that the market moved to the moving average of 50.
The ounce of gold was resisted by $ 75 and the moving average of 20, which resulted in the market moving to an average of 50. An ounce of gold has returned to the upside after each hit. So in this week's trading, if the 50-day moving average and the $ 00 trend are turned into support, one can expect the market to return to the 20-day moving average, the $ 75 level and finally the channel ceiling. The failure of the channel resistance can make the presence of gold buyers in the market more colorful.
But if the ounce of gold breaks the $ 00 trend and the average of $ 50, the downtrend will pave the way around the $ 1700 trend.

Activists and investors in the global gold ounce market are skeptical about the future of the market, according to a weekly assessment by Kitco News. Although the majority of market traders expect the price of an ounce of global gold to rise in the coming weeks, among small investors, supporters of the uptrend are less than 50%.
Meanwhile, the price of an ounce of silver has returned below $ 27 and all growth since the beginning of last week has disappeared. The price of silver has fallen after reaching the highest price of the last eight years. The fall in the price of silver has negatively affected the views and expectations of retail investors. Analysts believe that small investors' pessimism about the silver market has spread to the global ounce gold market. Micro-investors, most influenced by the social network, expected a rapid return to the silver market, and this frustration may spread to the gold market.
This week, 14 Wall Street activists took part in the weekly evaluation of the Kitco site. 64% predict that this week's trend will be an upward ounce of global gold. Another 29% predict that the market trend will be downtrend and another 7% expect the market to be trending or neutral. A total of 1,823 Main Street activists took part in the online poll. 48% are in favor of the uptrend, 31% are in favor of the downtrend and 21% are in favor of the neutral trend.
Kitco's online poll shows that micro-investor pessimism about the global ounce trend has reached its highest level since late November. At that time, the price of an ounce of world gold had fallen below $ 1,800. Last week, professional activists and small investors expected the price of an ounce of global gold to rise. However, the ounce price of global gold fell by almost 2%.

An overview of the cryptocurrency market today

The crypto market took a big step forward with the entry of Ether into the $ 1,700 channel and its all-time high of $ 1,773. Atrium futures trading in the Chicago Mercantile Exchange (CME) Group is scheduled to begin on February 9, which is why many analysts predict that the Altcoin will move to serious resistance on its way to It will reach $ 2000.

Ether is currently trading at $ 1,669, up 1.27% in 24-hour timeframe. Meanwhile, the market's top cryptocurrency, Bitcoin, traded up 5.24 percent over the past 24 hours at $ 39,268.

Gas costs in the Atrium network also reached the highest level in history at the same time as the price increase and caused some exchanges to suspend the ability to withdraw ETH and ERC-20.

On February 4, Yern Finance (YFI) was the victim of a massive attack, and a hacker removed $ 11 billion worth of StableCoin DAI from the DAI coffers. The team took swift action to reduce the damage. These include blocking the $ 1.7 million stolen budget and making a targeted proposal by the MakerDAO community to create a debt-for-collateral position (CDP).

Altcoins on the growth path

While Bitcoin traded in the range of $ 36,000 to $ 38,000, Altcoins accelerated and on Friday a large number of Altcoins saw a bullish decline in their price.

MakerDAO (MKR) grew another 45% to $ 3,099 before modifying to $ 2,810, while the Defy 0x (ZRX) Infrastructure Protocol rose 61% to $ 1.63.

Cardano (ADA) showed the most prominent performance among the larger altcoins with a 26.44% increase. Baines Coin (BNB) also reached its highest price at 64.87.

The total value of the cryptocurrency market today stands at $ 1.17 trillion, while Bitcoin dominates 60.1%.

Dogecoin (DOGE) or other digital currencies?

SpaceX and Tesla CEO Ilan Musk took to Twitter to see how interesting Dogecoin (DOGE) is to people.

In the survey, Musk asked whether the future currency would be Dogecoin (DOGE) or other digital currencies in general.

At the time of writing, 72.5 percent have chosen Dogecoin (DOGE) and only 27.5 percent accept the other option.

The last time Musk tweeted about Dogecoin (DOGE) was on Thursday, when he called it the popular currency, boosting it by 50 percent to $ 0.559.

Of course, the effect of this pump did not last long and this currency entered the correction process. The Dogecoin (DOGE) is currently trading at $ 0.0485.

Is Mask disappointed with Bitcoin?

On January 29, at the height of the US stock market controversy, Ilan Mask posted the word bitcoin on his bio Twitter.

On the same day, he announced that Bitcoin is a very good currency and confirmed that he supports it.

That led to a 20 percent increase in bitcoin, from $ 32,000 to $ 38,500.

Like Dogecoin (DOGE) , the mask's effect on Bitcoin did not last, and the currency returned to $ 35,000.

However, on February 4, when Ilan Musk tweeted again about his favorite currency, DOGE, he removed bitcoin from his bio.

The world's largest digital currency crossed the $ 39,000 mark on Friday and is currently hovering at $ 39,387.

An overview of the cryptocurrency market today

After a tense day, the price of Bitcoin seems to have calmed down to around $ 37,500. However, its dominance in the cryptocurrency market is still declining and below 61% because several Altcoins have been able to perform far better than their leader.

Reduce Bitcoin dominance

While most alternative coins have seen significant growth over the past 24 hours, BTC has failed to grow significantly. The market's first cryptocurrency tried to move towards $ 39,000 but to no avail, reaching a low of $ 36,200 after being rejected.

However, the cows returned the asset to its current position of about $ 37,600. Similarly, the continued growth of altcoins has continued to reduce BTC dominance to below 61%, the lowest level since late November 2020.

Technically, Bitcoin must cross the resistance levels of 38000, 38800 and 39190 before challenging the $ 40,000 level. In contrast, support levels of $ 37,000, $ 36,000 and $ 35,140 could help if prices fall.
New records between Altcoins

While Atrium (1%), Bitcoin Cash (1%), Polkadat (2.5%) and Light Coin (2%) have experienced slight declines in the last 24 hours, a number of Altcoins on the list are 10. Top market currencies have grown significantly.

Ripple and Cardano are leading the way with a 13% increase. As a result of these developments, XRP is again close to $ 0.45 just a few days after falling to $ 0.34. The ADA, on the other hand, hit a three-year high of about $ 0.50.

Binance Quinn and China Link have also broken new historical records. After jumping 9% in the 24-hour timeframe, the BNB rose to $ 58, while the 7% China Link pump raised the stock to $ 27.
As usual, lower market value altcoins have seen more volatility. Meanwhile, 0x is leading the way with 75% growth since yesterday and 130% price increase in weekly timeframes. As a result of this move, the ZRX has risen to $ 1.4.

Defy tokens including Maker (35%), Terra (29%), Ocean Protocol (28%), Ren (26%), Kyber Network (26%), Alpha Finance Lab (24%) and Synthetix (20%) Then fall.

The total value of the crypto market is still close to the $ 1.150 trillion mark.

An overview of the cryptocurrency market today

Bitcoin eventually managed to break out of the $ 33,000 to $ 35,000 range and enter the $ 37,000 range. Most replacement coins are still green today.

The price of Bitcoin broke above $ 35,000

After a very volatile week, the price of Bitcoin calmed down somewhat between $ 33,000 and $ 35,000. The cryptocurrency remained in the same range for the next few days until it finally emerged from the consolidation triangle in the last 24 hours.

The first move raised the price of BTC to $ 35,500 (on Bitstamp), while the next move pushed it to a high of around $ 37,000. However, despite the correction in the price of this currency, it still shows a 3% increase.

Technically, the BTC must cross the next resistance lines at $ 37,000, $ 37,700 and $ 38,620 to target the $ 40,000 level.

Conversely, if the asset fails to maintain its uptrend, support levels of $ 34,500, $ 34,000 and $ 33,110 could help.

Altquin Blast

Over the past few days, most of the major altcoins on the market have also been relatively quiet. However, the situation has changed dramatically in the last 24 hours, especially for some of them.

As previously reported, Atrium set a new record in its history. The latest price record for the second largest cryptocurrency on the market is now around $ 1,580.

Ripple also rose 6% to $ 0.38 after its recent dump. Bitcoin Cash (6%), Bainance Coin (2%), Chinlink (3%), Polkadat (7%), Cardano (2.5%) and Light Coin (12%) also rose in price today.

Fantom still has the best performance among the top 100 currencies in the market, reaching $ 0.15 for the second day in a row with 50% growth. UMA (27%), Siacoin (20%), Terra (17%), SwissBorg (13%), Decentraland (13%) and Maker (12%) also follow.

Finally, the total market value has increased by about $ 100 billion since yesterday, reaching $ 1.1 trillion.