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Even though Bitcoin has touched its lowest levels in the first quarter of 2019, it has not influenced its rate, which has jumped by more than 4% over the past 24 hours.
However, most of the top altcoins have not followed the leading cryptocurrency, as their prices have raised from about 1% to 2%.
One of the possible reasons for such growth is the increasing attention of institutional investors in the cryptocurrency market. Against all this, the overall market cap and trading volume have increased by a few million. At the same time, BTC’s domination rate has gained some points and now constitutes 55%.
May has started positively for BTC, as its rate is located in the uptrend; however, it is still early to judge the possibility of reaching $6,000 in a few days.
Our Bitcoin price prediction for yesterday came true, as $5,500 was broken at some crypto exchanges. Currently, the quotes are trying to consolidate and hold this crucial level.
Analyzing the hourly graph, the RSI indicator is overbought and may come back to the 60 points zone. Respectively, the possible short-term scenario is a small correction to $5,400 before achieving the $5,500 mark again.
The price of BTC is trading at $5,485 at the time of writing.
In terms of Ethereum, reaching the $160 level has happened according to our prediction yesterday.
Aside from the total market growth, ETH has its own reasons for its price rise. One of such causes is the released update for the Opera desktop browser, which now has a crypto wallet for tokens of the ERC-20 and ERC-721 standard.
It is crucial to hold the $160 support level for ETH; in…