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The move brings Bitcoin ever closer to sealing $30,000 as a new psychological level before the end of the year, something which seemed all but impossible just one week ago. As Cointelegraph reported, however, analysts still believe that a reversal could take the largest cryptocurrency down to existing support at $19,500.
On Tuesday, Cointelegraph Markets analyst Michael van de Poppe noentheless highlighted $27,500 as the critical area to break in order to pave the ways for new all-time highs. The knock-on impact among major cap altcoins was clearly felt, with Ether (ETH) nearing $740 after rising 5.5% on the day. Polkadot (DOT) added to existing strength to see weekly performance approach 50%. As before, the exception was XRP, which maintained 10% daily losses as continued delistings by major exchanges further weighed on sentiment. The troubled coin nonetheless managed to reclaim $0.20.
Source: FXPro
