Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto Risk Appetite Returns As Bitcoin Cuts Through $55,000

The cryptocurrency market has been sluggish over the past couple of weeks apart from selected altcoins which have continued to post double-digit gains, such as Enjin Coin (ENJ). Binance Coin (BNB) also rallied to $300 after a recent dip to $205. Binance exchange's native coin still holds the third spot on the market while trading at $281.

Bitcoin's rise above $55,000 is likely to have sparked interest among investors across the market. However, the biggest milestone would be rising above $58,000 and closing the gap to $60,000. On the other hand, Ethereum is trading above $1,800, but the price action to $2,000 is lethargic, while Ripple is stuck in a range between $0.45 and $0.5.

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Image Source: Pixabay

Speculation mounts for Bitcoin crossing record highs

Bitcoin briefly stepped above $55,000 amid speculation that the uptrend would hit levels above $58,000. Despite a correction to $53,500, BTC's uptrend has remained intact since the massive drop to $42,800 in February. According to the head of research at Pepperstone Group Ltd, it would not be a "shock to see the price make an assault on the February high."

Investors and enthusiasts believe the incoming stimulus check in the US and a surge in institutional interest will see an uptick in the influx of funds, likely to keeping cryptocurrencies going. MicroStrategy and Meitu are examples of rising risk appetite from the institutional front.

The 4-hour chart shows Bitcoin trading above $54,000 after a short-term bounce from $53,500. Holding above this level could see BTC embrace further sideways action before another rally above $55,000. Note that trading past the hurdle at 56,660 would bolster Bitcoin above the record highs and perhaps send it to $60,000.

(Click on image to enlarge)

BTC/USD 4-hour chart

BTC/USD 4-hour chart

Ethereum uptrend to $2,000 could be in jeopardy

The pioneer smart contract token almost hit $1,900 in the recovery staged from the February declines. However, a barrier at $1,877 hindered the upswing, allowing a correction to ensue. Short-term support was embraced at $1,760, hence the rebound above $1,800.

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Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

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