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Lunar New Year: Bullish Crypto Market for Year of the Bull

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The annual Lunar New Year celebration is here. In line with this, the crypto market shows bullish signals fitting in 2021’s ‘Year of the Ox’. With bull runs insight, do you feel bullish in the ‘year of the bull’?

In fact, crypto exchanges such as Binance, OKEx, and Huobi wish traders to have a bullish year ahead.

Let us proceed to today’s crypto market price movement and get an overview of the best cryptocurrencies to invest in 2021.

Bullish Price on Leading Cryptos

Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Ripple (XRP), Polkadot (DOT) are showing greens in today’s crypto market. In the past week, BTC had almost 30% gains, hitting a new all-time high BTC price of $48,000.

Tesla’s recent buy, as well as BNY Mellon and Mastercard’s recent announcements of adopting Bitcoin, caused the asset’s price to surge. Soon, it may reach $50,000 or even $100,000 in due time.

Moreover, ETH had gained around 11% within the last seven days. Alongside this, the ETH price currently at $1,755 is nearing its expected new all-time high price of $2,000.

Source: CoinGecko
Source: CoinGecko

On the other hand, ADA, XRP, and DOT are among the leading cryptocurrencies of today. In detail, the ADA price of $0.90 has surged to over 105% this week. Additionally, the XRP price sitting at $0.5 also resulted in 23% gains. While the DOT price caused over 26% gains to its crypto holders at almost $25 per unit.

In retrospect, Grayscale pumped ADA after filing its Cardano Trust. Interestingly, Ripple will most likely settle its ongoing battle against the US Securities and Exchange Commission (SEC), according to a CoinQuora exclusive interview.

These events have caused these crypto-assets’ bullish price movement. In particular, bullish DOT price prediction is set at $30.

Lunar New Year: Bullish Crypto Market for Year of the Bull
Source: CoinGecko

Top Altcoin Gainers

Not only the leading cryptocurrencies are showing significant gains, but also top altcoins. These include The Graph (GRT), Amp (AMP), Nano (NANO), Basic Attention Token (BAT), and Enjin Coin (ENJ).

GRT had made headlines, resulting in roughly 200% gains in the last seven days. Hence, the GRT price is now at $2.37. Top altcoin gainer AMP is also priced at $0.03 with 193% this week. Moreover, the NANO price at $7.16 caused over 100% gains this week. BAT hit almost 100% gains too with a current price of $0.6. Besides, ENJ price recorded a 60% gain this week, hitting the price line of BAT.

Lunar New Year: Bullish Crypto Market for Year of the Bull
Source: CoinGecko

Despite hitting our bullish GRT price prediction, with an upward trajectory, a possible rally to $5 might be underway. Likewise, ENJ looks promising as Microsoft and Enjin issue Minecraft-compatible non-fungible tokens (NFTs). Thus, our bullish ENJ price prediction is set to $2 this year.

Taking this into consideration, 2021 is showing early signals toward a bullish crypto market. Therefore, the ‘year of the bull’ looks promising for both institutional investors and cryptocurrency traders.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.



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