Here are some updates on how the five top cryptocurrencies performed over the past week. Historical trends can be useful, but they aren't always good at predicting values in a volatile market.
Bitcoin Danny Scott, who is the CEO of Coin Corner, thinks Bitcoin will get to $83,000 by the end of April. A lot of miners are holding instead of selling. Miners kept 4,380 on April 2 and 4,494 on April 3. Bitcoin hasn't managed to get past $60,000 over the past few days. It fell to $56,518 on April 5. The next targets are $69,540 and $79,566. If the bears have their way, it could reset to $53,771.
Ether Ether got to a new high value of $2,144.59. However, it fell back to $2,040.77. The bulls are trying to get it to $2,618.14. Evidence suggests that bulls have the hand in Ether's direction.
Binance The Binance coin reached a new high on April 2. However, it fell to $348.69. The bulls could get it up to $400 and then $430. If the bears take hold, it might drop to $315.
DOT Polkadot reached a high of $46.8 on April 3. The bears pushed it down to $42.28 on April 4. The 20-day moving average suggests that the bulls are in control of its value.
EOS EOS reached $6.25 on April 2, which was its highest value since June 29, 2019. Bears brought it down to $5.60 on April 3. There is still a lot of interest. Its 20-day moving average is $4.68. The buyers didn't give up. This will be one to watch over the next few weeks to see if the bulls can hold or if the bears will gain control.
Investors always like to take a look at historical values and tie them to events that took place afterward as a means of making predictions. However, the past 14 months have been anything but predictable. As the economy makes a recovery from COVID-19-related closures, epidemiologists are sounding the alarm again against a fourth surge that could be related to Easter travel, spring break and young people.