BTC, ETH, XMR, VET, AAVE

Bitcoin’s (BTC) price has been hovering near the $19,000 level for the past few days. Whenever the price consolidates near the all-time high, it is an indication of strength.


However, the question troubling investors is whether Bitcoin will source enough momentum to pull above $20,000 or will it witness a sharp correction in the short term. At the moment, analysts are divided on their expectations about the next move.

While the near-term remains uncertain, on-chain analyst Willy Woo believes that the long-term picture is more bullish than ever. According to Woo, Bitcoin is going through a re-accumulation phase, which is one of the main reasons why the price has not seen volatile corrections during its current up-move to the all-time high. Woo expects Bitcoin to reach $200,000 by the end of 2021.


Crypto market data daily view. Source: Coin360

Man famous investors have been vocal about their expectations of higher prices in Bitcoin. However, it is by no means the only cryptocurrency on the institutional investors’ radar. Grayscale managing director Michael Sonnenshein in a recent interview with Bloomberg said that “Ethereum first and in some cases Ethereum only” investors are on the rise.

The inflow of funds into Ether (ETH) shows that institutional investors are adding more cryptocurrencies to their portfolio. This is a positive sign as it shows increased confidence of the investors in the crypto space.

As the sentiment remains bullish, let’s study the charts of the top-five cryptocurrencies that could start a trending move this week.