Bitcoin‌ ‌swinging‌ ‌around‌ ‌$15,500,‌ ‌Will‌ ‌it‌ ‌break‌ ‌$17K‌ this‌ ‌weekend?‌ ‌

Is the Bitcoin Bull Rally slowed down?

After the successful Bitcoin bull run that rallied the price from below $10K to above $15K levels, Bitcoin price seems to have relaxed a bit. As the asset reached the highest levels of $15,969, the selling pressure started to mount in the market.

In fact, Bitcoin is painted red with a dip of 1.01% in its price of $15,513 at the press time in the last 24-hours. Where as the majority of the assets have swell with huge margin.

However, the price still remain consistent without crashing in a deep well as it happen in 2017. Despite all the odds, still some analyst predict a major breakout to follow in the coming weekend. 

With the Bitcoin bulls trying hard to push the BTC price to $17,000 and the bears wish BTC to revisit $14,000 levels, it would be very interesting to watch the next move.

‘Altcoin Season’ initiated, Why Am I saying this?

Altcoin Season is a phase where more than 50 percent of the altcoins rally with significant numbers. However, Bitcoin prices may or may not withness a dip during the phase. The second most preferred asset after Bitcoin, Ethereum has entered a bullish trend. 

Ethereum price shot up straight above $450 levels to touch $465.37 from $383 in just a couple of days. Hence marking a growth of nearly 19.19% in the last seven days. At the press time, ETH price stands at $457.11 with a jump of 6.18% in the last 24 hours.

With the release of the ETH 2.0 deposit contract address, which is the first step towards lauch of phase 0 of ETH 2.0, the ETH price is expected to touch $500 in short-term. And in the long term, the price is expected to rally further to break $1000, outperforming Bitcoin.

DeFi Resonance in its Second phase

The entire DeFi space had touched the rock-bottom levels just a couple of days before. With the Bitcoin bull rally, it seems that the profits have been transferred to the altcoin and the DeFi space. 

More than 40% of the DeFi tokens mark double-digit spike in their price in the last 24-hours. The highest gainer among the DeFi tokens is YFI price, which jumped a massive 58.85% attaining price of $14,397. A $2000 growth in just a single day, it’s pretty huge.

Therefore, in the coming weekend, DeFi space is expected to shine with glory with most of the tokens enjoying a bull ride. 

My Honest Forecast

Bitcoin price could possibly break $17,000 levels before a slight dump which may pull back the price surrounding $12,500-$13,000. However, the bitcoin bull rally would continue further.

Considering the altcoins and DeFi space, Ethereum may rally over $500 in the next couple of days. Also, the other assets may follow Ethereum’s surge. The DeFi space may mark highs, however, they are short-term.

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