Bitcoin’s (BTC) worth has been hovering close to the $19,000 degree for the previous few days. At any time when the worth consolidates close to the all-time excessive, it is a sign of power.

Nevertheless, the query troubling traders is whether or not Bitcoin will supply sufficient momentum to tug above $20,000 or will it witness a pointy correction within the brief time period. In the intervening time, analysts are divided on their expectations concerning the subsequent transfer.

Whereas the near-term stays unsure, on-chain analyst Willy Woo believes that the long-term image is extra bullish than ever. In accordance with Woo, Bitcoin goes via a re-accumulation part, which is likely one of the predominant the reason why the worth has not seen unstable corrections throughout its present up-move to the all-time excessive. Woo expects Bitcoin to succeed in $200,000 by the tip of 2021.

Crypto market information each day view. Supply: Coin360

Man well-known traders have been vocal about their expectations of upper costs in Bitcoin. Nevertheless, it’s under no circumstances the one cryptocurrency on the institutional traders’ radar. Grayscale managing director Michael Sonnenshein in a current interview with Bloomberg stated that “Ethereum first and in some instances Ethereum solely” traders are on the rise.

The influx of funds into Ether (ETH) reveals that institutional traders are including extra cryptocurrencies to their portfolio. It is a constructive signal because it reveals elevated confidence of the traders within the crypto house.

Because the sentiment stays bullish, let’s examine the charts of the top-five cryptocurrencies that would begin a trending transfer this week.