Bitcoin’s (BTC) value has been hovering close to the $19,000 stage for the previous few days. Every time the worth consolidates close to the all-time excessive, it is a sign of energy.

Nevertheless, the query troubling buyers is whether or not Bitcoin will supply sufficient momentum to tug above $20,000 or will it witness a pointy correction within the quick time period. In the intervening time, analysts are divided on their expectations in regards to 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 keeping with Woo, Bitcoin goes by means of a re-accumulation part, which is among the primary explanation 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 top of 2021.

Crypto market knowledge day by day view. Supply: Coin360

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

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

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