empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
16.08.2021 04:02 PM
Cryptocurrency market value again surpassed $2 trillion
Open trading account Open demo account

Bitcoin continues to gain momentum, and this time it seems to be very serious. For the first time since May of this year, the total market value of cryptocurrencies has again surpassed $2 trillion. The rise in the value of bitcoin has triggered a rise in altcoins such as Cardano, XRP, Dogecoin, and Chainlink. According to CoinGecko, which tracks over 8,800 coins, the market value of cryptocurrencies has surged to $2.06 trillion. It is worth noting that the upward movement stalled last week, but then went up again even after the cryptocurrency industry failed to achieve a change in the tax reporting rules for cryptocurrency in the US infrastructure bill. And although agreements were reached in the Senate on making changes, it was not possible to have time to vote and get the approval of all senators on the proposed changes.

As a result, everything was postponed to September of this year, although there will not be much time to consider this proposal, since the Democrats are busy solving the issue of increasing the US national debt limit. But all this does not prevent bitcoin and other cryptocurrencies from feeling quite active above the 200-day moving average. An important point will be the reverse test of this level, but we will talk about this a little later. Many experts assess the growth of bitcoin extremely optimistically since the recognition of the crypto industry by legislators was ultimately a grand event for the world of cryptocurrencies. The fact that the US Senate is already talking about this topic once again proves to investors the whole reality of the new industry, which not only exists, but is also actively developing.

According to the latest data from JPMorgan, foreign investors are again entering cryptocurrency. In a recent report, the financial giant noted clear evidence that demand for cryptocurrencies from institutional investors continues to grow exponentially. The number of contracts excluding price changes for Bitcoin and Ethereum futures on the Chicago Mercantile Exchange set new highs, which is direct evidence of the growth of interest. The bank's representatives highlighted the activity of consultants for trading in exchange commodities, which accelerated the growth of the crypto market to current levels.

This image is no longer relevant

Another proof that the crypto industry is gaining popularity is the rise in the "fear and greed index", which reached 72 points. According to the latest data last weekend, after testing the bitcoin price of $48,000, the index reached 76 points, which is comparable to the indicators of April this year, when bitcoin was firmly moving towards its $60,000 mark.

As for the technical picture of bitcoin, buyers need to break above the resistance of $46,700 and consolidate there. Only this will allow us to get the upper hand over the 200-day moving average and continue the growth of bitcoin in the area of the highs of $52,000 and $58,000. A test of the 200-day moving average from top to bottom and its retention by buyers will also be a very powerful bullish signal, which will attract new institutional players to the market. If the bulls fail to take the above level, a second instant sale to the levels of $41,100, $36,700, and $33,300 is not excluded. But do not underestimate the cunning of the market. There were similar attempts to return the bull market in January-February 2018, after the largest sale of bitcoin, and all these "bull markets" were engaged only in delaying new "onlookers " who wanted to earn money quickly, after which the largest drains occurred. It is likely that history will also repeat itself this time since everything points to this.

This image is no longer relevant

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Wave analysis
Analysis for GBP/USD on March 21, 2025 The wave structure for GBP/USD remains somewhat ambiguous, but overall manageable. At present, there's still a high probability of a long-term downward trend developing. Wave 5 has taken
Chin Zhao
19:42 2025-03-21 +02:00
1960
Wave analysis
Analysis for EUR/USD on March 21, 2025 The EUR/USD pair saw no change on Friday. There was no news background in the direct sense of the word today, so the market had nothing to respond
Chin Zhao
19:39 2025-03-21 +02:00
1780
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Pressure Returns to Bitcoin and Ethereum

Following Trump's speech at the crypto summit yesterday, pressure on Bitcoin and Ethereum has returned. Another factor contributing to this was a renewed sell-off in risk assets on the U.S
Jakub Novak 10:22 2025-03-21 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 21

Bitcoin and Ethereum once again struggled to overcome key resistance levels, preventing a short-term upward trend in these assets. Their inability to even hold near weekly highs also points
Miroslaw Bawulski 08:16 2025-03-21 UTC+2

Technical Analysis of Intraday Price Movement of Bitcoin Cryptocurrency, Friday March 21, 2025.

With the appearance of Divergence between Bitcoin price movements with the Stochastic Oscillator indicator and the Bullish 123 pattern followed by the Bullish Ross Hook (RH)), in the near future
Arief Makmur 06:18 2025-03-21 UTC+2

Technical Analysis of Intraday Price Movement of Ripple Cryptocurrency, Friday March 21, 2025.

If we look at the 4-hour chart of the Ripple cryptocurrency, there appears to be a Divergence between the Ripple price movement and the Stochastic Oscillator indicator and the appearance
Arief Makmur 06:18 2025-03-21 UTC+2

Bitcoin aims to hit $90,000

Following yesterday's Federal Reserve meeting, where the central bank ran out of strong arguments to keep interest rates high, Bitcoin and Ethereum have resumed their bullish movement. Despite the Fed's
Jakub Novak 09:32 2025-03-20 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 20

Bitcoin and Ethereum have experienced a rebound following yesterday's Federal Reserve meeting, which indicated that interest rates may need to be lowered. Regardless of how long the Fed intends
Miroslaw Bawulski 08:22 2025-03-20 UTC+2

Bitcoin Targets $85,000

Interest in Bitcoin remains strong, as any normal downward movement is quickly bought up by large players. The fact that U.S. spot Bitcoin ETFs have resumed recording net inflows also
Jakub Novak 10:49 2025-03-19 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 19

Bitcoin and Ethereum faced challenges again after a recent sell-off on the U.S. stock market, but buyers and major players once again showed their strength, purchasing all downward movements
Miroslaw Bawulski 09:01 2025-03-19 UTC+2

BTC/USD Analysis – March 18th: Bitcoin Prepares for Growth, but the Risk of Collapse Remains

The 4-hour wave structure for BTC/USD appears clear and well-defined. After completing a five-wave bullish trend, a bearish phase began, which currently resembles a corrective pattern. Based on this
Chin Zhao 09:47 2025-03-18 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 18

Bitcoin and Ethereum buyers attempted to achieve more significant growth, and for a moment, the bullish market might gain hope for a return. However, they could not hold the achieved
Miroslaw Bawulski 08:00 2025-03-18 UTC+2

Top analytics

Relevance up to 08:00 UTC--4
USDJPY: Simple Trading Tips for Beginner Traders on March 21st (U.S. Session)
19:30 2025-03-21
Forecast
Relevance up to 08:00 UTC--4
Analysis for EUR/USD on March 21, 2025
19:39 2025-03-21
Wave analysis
Relevance up to 08:00 UTC--4
EURUSD: Simple Trading Tips for Beginner Traders on March 21st (U.S. Session)
19:09 2025-03-21
Forecast
Relevance up to 11:00 UTC--4
Analysis for GBP/USD on March 21, 2025
19:42 2025-03-21
Wave analysis
Relevance up to 08:00 UTC--4
GBPUSD: Simple Trading Tips for Beginner Traders on March 21st (U.S. Session)
19:17 2025-03-21
Forecast
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.