Market Summary 18/12: Bitcoin, Ethereum, Ripple…

It climbed up to a record $23,800 yesterday before dipping down to $23,000.

Its bullish trend continued as was confirmed by a bullish cross in the Stochastic oscillator.

BTC is in wave 3, confirmed by a breakout from the parallel channel connecting waves 1 and 2.

The altcoins is most likely in wave 3 of a five-wave bullish impulse. The price is expected to keep climbing even above $26,000 before an eventual correction.

Ethereum News

Currently Ethereum 2.0 is ranked as the fourth largest staking network. Within six weeks of launching ethereum 2.0 almost 1 billion worth of Ether (ETH) has already been designated for staking.

This is in spite of the fact that withdrawals have not been enabled and the launch date is nowhere in sight.

A single stake which is worth 32 ETH would earn $2,725 over a year at the current price of about $645.

Altcoin News

Polkadot, which was founded by Ethereum co-founder Gavin Wood, is currently the largest staking network by total value locked. 67.51% of its supply is designated for staking, valued at nearly $3.4 billion.

Cardano, from Charles Hoskinson, also an Ethereum co-founder, ranks as a close second, with 65.53% of its supply locked since July for a staking value of $3.37 billion.

Then there's Tezos with a current staking cap of $1.38 billion. And Cosmos which has 71.77% of its supply locked up for a staking TVL of $915,593,114.

The recent soar in the prices hassine altcoin like bitcoin and ethereum enjoy a tremendous increase in price.

This saw in prices was also enjoyed by other altcoins like Lite coin. Within the past few days Lite coin has rallied to start a strong surge above the $90.00 and $100.00 resistance levels against the US Dollar.

There was a surge at the $110.00 level and a new monthly high was formed near $112.76. The price is now consolidating gains above the $100.00 level.

Alex Krüger, an economist has said that he believes that the impending launch of the CME group's Ether futures is extremely bullish.

He said via Twitter that "People mostly remember how bitcoin hit its top on 2017 the exact day the CME $BTC futures launched, and proceeded to crash right after.

They forget that the CME launch drove prices from 6K to 20K, +225% in 2.5 months. The launch of CME $ETH futures is extremely bullish".

In conclusion, the recent climb of altcoins with bitcoin at its helm continues to impact other altcoins positively.

Which altcoin seems to be the most promising in 2021? Would you invest in it?