Bitcoin continues with the 2020 records and just a few hours ago marked a fresh high of above $13,350.Most alternative coins followed suit with impressive increases, but the market has calmed since then.The entire cryptocurrency market clocked at above $400 billion.Bitcoin To Yet Another 2020 High
CryptoPotato reported a few days ago that the primary cryptocurrency exceeded the August 2020 high of about $12,500 and reached $13,200.
What followed was a slight retracement to about $13,000 and stagnation yesterday.
Nevertheless, the volatility returned in the past 24 hours, and BTC headed towards new highs.This time, Bitcoin broke above $13,350.In fact, according to data from Bitstamp, BTC’s new 2020 high is at $13,362.
Another sharp rejection followed, and the asset tanked briefly below $13,000.Nevertheless, the bulls have since driven it above the coveted mark, and BTC trades at about $12,940.
A compelling chart recently revealed that Bitcoin is forming an inverse head and shoulders pattern.
If it’s to play out, the cryptocurrency could soon skyrocket even further and top its all-time high of $20,000.
If this scenario is indeed to materialize, Bitcoin would have to break above the resistance lines at $13,420, $13,500, $13,815, and $14,000 before reaching new records.BTC/USD.Source: TradingView Altcoins Follow Up And Calm Down
Most alternative coins experienced similarly increased volatility as Bitcoin.Ethereum surged to a new 7-week high of nearly $420.However, ETH quickly retraced and is now hovering around $409 again.
Ripple’s highest level came at about $0,26, but XRP has since decreased to below $0.253.
Thus, on a 24-hour scale, most larger-cap altcoins have remained essentially at the same positions as yesterday, despite the brief price jumps.Chainlink and Litecoin have registered the most gains of about 3.6%.LINK trades close to $12.35, and LTC is positioned at $56.3.Cryptocurrency Market Heatmap.
Source: Quantify Crypto
The most impressive gainer since yesterday is Filecoin.After the recent controversy and continuous price slump, FIL has surged by 45% in the past 24 hours.
Ocean Protocol (18%), Quant (17.5%), THETA (10.2%), Reserve Rights (10.2%), and Ampleforth (10%) have also increased by double-digit percentages.
The post Bitcoin Breaks New 2020 High As Total Market Cap Tops $400 Billion (Market Watch) appeared first on CryptoPotato.
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