Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, XRP, XMR, XTZ

[syedrasool2011]

Bitcoin and most altcoins are likely to remain range-bound for a few more days before resuming the next leg of the up move.



United States markets have rallied sharply from their March lows, led by the tech sector and Federal Reserve injections designed to hold up the ailing economy.

Markets across the globe have also joined the party as a steady economic recovery from the coronavirus pandemic picks up steam.

The fast-paced rally in global stock markets has pushed the Buffett Indicator into bubble territory, which suggests that markets might be overheated in the short term.

Similarly, gold has seen a sharp rally in 2020, and last week the asset reached a new lifetime high. Silver also followed suit and is trading near multiyear highs.

This suggests that traders have been diversifying their portfolio into various assets to protect against the debasing of fiat currencies.

These circumstances are also favorable for Bitcoin (BTC), which has rallied sharply from its March lows.

However, the biggest cryptocurrency is trading well below its all-time highs, which signals that if the bullish trend continues, then there is plenty of potential upside.

Therefore, even if stocks and gold correct, Bitcoin could behave as an uncorrelated asset during that period.

For more detail: https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-eth-xrp-xmr-xtz