The top 10 cryptocurrencies have finally shown a bullish improvement after a long time of being bearish.
All cryptocurrencies showed growth over the last 24 hours, except two. The peculiar thing about this situation is that one of these two cryptocurrencies were performing extraordinarily well over the past 30 days.
Top 10 Cryptocurrencies in the Last 30 Days
This marked the first turnaround for the majority of cryptocurrencies as the last 30 days have been extremely hard on the top 10. Although the major gainer over the last 30 days was $HEX, it performed negatively during the last 24 hours.
Could this be a sign that the top 10 cryptocurrencies are slowly recovering to their original heights?
As of the moment, this prediction cannot be considered a fact. Observing the changes over the next few days however, might help traders and investors make better judgements as to the state of the crypto market.
Here are the top 10 cryptocurrencies and their performance ranked from highest gains to losses over the last 24 hours:
1. $DOGE
Price: $0.26
24 hour percentage change: 11.1%
7 day percentage change: -14.4%
30 day percentage change: -22.9%
2. $ADA
Price: $1.35
24 hour percentage change: 8.0%
7 day percentage change: -8.8%
30 day percentage change: -12.6%
3. $XRP
Price: $0.67
24 hour percentage change: 4.9%
7 day percentage change: -20.4%
30 day percentage change: -30.7%
4. $BNB
Price: $308.22
24 hour percentage change: 3.9%
7 day percentage change: -12.7%
30 day percentage change: -9.9%
5. $BTC
Price: $34,642
24 hour percentage change: 2.7%
7 day percentage change: -9.1%
30 day percentage change: -9.5%
6. $DOT
Price: $16.19
24 hour percentage change: 2.3%
7 day percentage change: -28.2%
30 day percentage change: -26.2%
7. $ETH
Price: $1,989
24 hour percentage change: 0.9%
7 day percentage change: -16.2%
30 day percentage change: -26.4%
8. $USDT
Price: $1.00
24 hour percentage change: 0.0%
7 day percentage change: 0.1%
30 day percentage change: -0.0%
9. $USDC
Price: $1.00
24 hour percentage change: -0.0%
7 day percentage change: 0.1%
30 day percentage change: 0.0%
10. $HEX
Price: $0.08
24 hour percentage change: -2.1%
7 day percentage change: -13.4%
30 day percentage change: -63.4%
El Salvador and China on Bitcoin
There have been a lot of movements both supporting and against crypto over the month.
One major victory for Bitcoin is when El Salvador announced the most popular cryptocurrency to be a legal tender in their country starting September 7, according to the article by Reuters. With Bitcoin as a legal tender, more movement is expected of the cryptocurrency.
The bad news, however, is China's crackdown on the cryptocurrency.
The crackdown on crypto miners has a huge effect in China due to 65% of Bitcoin being mined in China alone, according to CNBC. The future of the top 10 cryptocurrencies is still unknown as of the moment as there are way too many factors in the market currently at play.
Read Also: $ETH Price Prediction | RSI Indicates 'Moderately Low' Volatility
Bitcoin Market Cycle
For those that aren't too familiar with the Bitcoin market cycle, it shows that we could possibly be exiting the FEAR stage and have reached the bottom getting ready for a restart.
The Bitcoin market cycle is a cycle which explains how Bitcoin goes up and down.
1. Start
This is where the market is at a stale and crypto whales start buying massive volumes of Bitcoin.
2. Greed
Once the general market sees the growth in Bitcoin due to the whales more buyers start entering the market saturating the price of Bitcoin.
3. Peak
This is where Bitcoin usually reaches maybe an all-time-high or an impressively high amount after a long period of time. Usually, this is where crypto whales start to sell off their holdings.
4. Fear
This is where most traders and investors lose their money and sell out of fear on losing more. The market then slowly ends a depression.
5. End and beginning
Once the market is down, this is where crypto whales start buying up new volumes of Bitcoin repeating the cycle.
Related Article: Cryptocurrency Rumor | Chinese Whales Shorting Ethereum Due to Vitalik Affair with Husband
This article is owned by Tech Times
Written by Urian B.
