BTC, ETH, BNB, XRP, ADA, SOL, LUNA, AVAX, DOT, DOGE


Bitcoin (BTC) has recovered close to $44,000, indicating that the downtrend could be coming to an end. However, the price may not rally to the all-time high in a straight line. This means bulls are likely to face several hurdles in-between and the price action may remain volatile.

JPMorgan analysts said in a recent investor note that Bitcoin’s boom and bust cycles are hindering further institutional adoption. The analysts estimate that with volatility four times that of gold, Bitcoin’s fair value is about $38,000. If the volatility reduces to three times that of gold, their fair value estimate for Bitcoin rises to $50,000.

Daily cryptocurrency market performance. Source: Coin360

Wells Fargo Investment Institute, the research division of Wells Fargo Wealth and Investment Management, in its report titled “Cryptocurrencies — Too early or too late?” said the crypto markets were still in the early days of adoption. The report added that “most of the opportunity lies before us, not behind us […]”.

Could Bitcoin and altcoins extend their relief rally or will profit-booking pull prices lower? Let’s study the charts of the top-10 cryptocurrencies to find out.