Cryptocurrencies Price Prediction: Dogecoin, Bitcoin & Crypto – European Wrap 12 May
Dogecoin price 40% surge tests crucial resistance amid easing trade tensions
Dogecoin (DOGE) rally gains bullish momentum to exchange hands at $0.25 at the time of writing on Monday. Since the tariff-triggered crash on April 7, the largest meme coin by market capitalization has edged higher on easing trade tensions. Global markets, including crypto, are reacting positively to easing trade tensions between the United States (US) and China on top of last week's trade agreement with the United Kingdom (UK).
Bitcoin Price Forecast: BTC edges closer to all-time high as US-China trade deal cheers markets
Bitcoin (BTC) price is stabilizing at around $104,000 at the time of writing on Monday after rallying 10.44% the previous week. Risk-on gains traction as the US and China agree to major tariff reductions for 90 days, which could fuel a price rally for risky assets like Bitcoin. Additionally, Metaplanet announces that it added 1,241 BTC worth $125.30 million on Monday, bringing its total holding to 6,796 BTC.
Crypto market slows down, nearing a top
The crypto market slowed down but continued to move upwards over the weekend, reaching $3.35 trillion. For the past few days, it has been trading in the region of the highs since early February. Ethereum and Dogecoin have been the stars of this movement, adding around 40% in seven days, although the former's contribution is certainly more significant.
Author
FXStreet Team
FXStreet
