Last week among the top 10 crypto's by market capitalisation, only BTC was able to set a new All Time High at $61,599. The rest including ethereum could not reach their previous ATH's.
But the story was different for our less known Altcoins especially the Defi projects and the NFT's (non fungiable tokens). We saw many of these coins breaking new limits and setting new ATH's as they went on a rampage for price discovery.
All in a seven (7) days journey,
CHR completed a 570% increase,
CHZ did 428% increase,
Dego did 324% increase
NKN did 228% increase
RALLY did a 170% increase
Vite did 163% increase
And so many other previously less known altcoins
What we now know for sure is that Cryptos have come to stay. The world has been jolted from covid-19 lockdown to a future where Cryptos are becoming an essentially part of our daily transactions. This fact is buttressed by the entrance of institutional giants into the crypto market and the massive number of new believers that register everyday on crypto exchanges.
As we enter into a new week, the charts are red ALMOST across all coin's but that doesn't mean the bears have taken over the market yet.
Over the next two days I'll watch out to see if BTC will continue its bull run. In the absence of that, I'll expect a price correction and most likely an altcoin bull rampage.
Keep your fingers on the keyboard and your eyes on the charts.