- Bitcoins’ price may drop to below $69,000.
- Despite the increasing profits for holders, ETH could hit $4,500 in the near future.
Top cryptocurrencies including Bitcoin [BTC], Ethereum [ETH]” Ripple [XRP] Despite earlier market predictions, March has been a good month.
Bitcoin for instance soared over $72,000 to a brand new All-Time High on the 11th March.
Ethereum is catching up. AMBCrypto, which assesses the altcoin’s value, estimates that ETH gained 8.59% of its price in the past week.
This ensured the price rose to $4,000. The XRP coin has also been a source of controversy since Ripple filed a long-standing suit with the U.S. SEC.
In the past 24 hours, XRP’s price soared 18% to almost $0.74. Will the cryptos maintain their momentum this week?
Bitcoin price prediction
The surge in institutional investment has contributed to Bitcoin’s remarkable performance. through ETFs.
The retail market has been booming in the last few days, which could indicate that the bull-run is already here.
Take a closer look at Hodler’s Net Position Change revealed It’s possible that the price could take a breather. Glassnode’s data revealed that the indicator had fallen into negative territory.
Hodler’s Net Position change would indicate that the investors are accumulating BTC. The metric at -31.531 BTC indicates that the holders are cashing in.
Bitcoin’s value could decrease if investors keep on making profits.
It could reach a significant price in the next week if it falls below $69,000, which had been a major resistance level. But traders may have to keep an eye out for the institutional flow.
Bitcoin could reach another ATH if inflows to ETFs are at new heights.
Ethereum Price Prediction
AMBCrypto has calculated the ratio of Market Value to Actual Value (MVRV).
As of press time, MVRV was 19,30%. This means that if all ETH token holders sold their tokens they would have made an average gain Profit of 19,30%
This reading would be low in a bull-market and could indicate that an altcoin is undervalued. The MVRV was 81.6% during the bull run of 2016 and 2017.
This metric is expected to rise even more in 2021. With this condition, ETH could rise in price higher It is plausible that the price of a car will increase by 10.22% in one week to $4500.
A decline in Bitcoin dominance could also be the cause. If this is the case, ETH could get a large share of redistribution which would drive up the price.
XRP price prediction
XRP appears to have benefited from the capital shift away from Bitcoin and into other altcoins. AMBCrypto was the previous AMBCrypto reported How the token is struggling to overcome the $0.62 barrier.
The price has dropped to $0.69 from $0.71. The MDIA is the average age of a dollar invested in 90 days. observed The metric fell.
If you’re looking for something realistic, this is it. XRP’s market cap in BTC terms
These dips indicate an abrupt movement of tokens that were previously inactive. It could also indicate distribution. If the price of XRP continues to drop, it could reach $0.65.
But the indicator showed that there could be a rise in slope. This slope could invalidate any bearish bias and push XRP towards $0.75.
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Source: ambcrypto.com