Top 5 Crypto Performers: LINK, BTC, NEO, LEO, ETH

Published on by Cointele | Published on

Institutional and large traders, who were previously wary of investing in cryptocurrencies, seem to be warming up to the idea and are using crypto to diversify their portfolio.

Billionaire Henry Kravis has invested in a crypto fund launched by Ben Forman, who previously worked at his firm, KKR & Co. The fundamentals in the blockchain and crypto space are improving rapidly.

LINK/USD. Chain Link is the best performing major cryptocurrency.

While there are many reasons for the rise in bitcoin's price, as traders, should we jump on the bandwagon or wait for lower levels to buy?

Currently, the bulls are attempting to push the price back above $12,000.

We are against the idea of chasing prices higher because vertical rallies are unsustainable and risky.

Traders can wait and buy on dips once the price stabilizes.

If the price rebounds off the moving averages, the bulls will again try to scale the resistance of $25. If successful, a rally to $42 is probable.

Currently, the price has been consolidating between $1.710 and $2. If the bulls push the price above $2 and sustain it, a rally to $2.29 and above it to $2.49 is probable.

The pair might correct to the 20-week EMA. It will turn negative if the bears sink the price below both the moving averages.