Cryptocurrencies Price Prediction: Bitcoin, Ripple & Sushi – American Wrap 5 January
|Bitcoin's correction does not yet appear to be a trend reversal
The holiday rally brought Bitcoin to new all-time highs. Although the bears stepped up after reaching $34K, their strength was clearly not enough to initiate a broad correction and the drop below $28k was very short-lived. During the last 24 hours, BTC has been losing about 3% and traded above $31.3K. It's hard to call such dynamics a "trend reversal", rather we are facing a brief correction within the consolidation after impressive growth.
Ripple takes another hit as Grayscale excludes XRP from the Fund's portfolio
Earlier today, the giant Bitcoin Trust Fund, Grayscale, announced that it will remove XRP following DLC Fund’s Quarterly Review. Of course, this removal was motivated by the SEC suing Ripple, although the fund didn’t explicitly mention it.
Sushi price drops 25% but on-chain metrics indicate it still has room to grow
On November 6, 2020, Sushi started a major rally from a low of $0.472, reaching $4.163 in January 2021. So far, bulls have been in control of the trend and there have been no red flags.
%20[15.18.21,%2005%20Jan,%202021]-637454533306239856-637454676457481562.png){kind=link}
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.