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Price analysis 4/12: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, XLM

Published 04/12/2021, 02:47 PM
Updated 04/12/2021, 05:20 PM
Price analysis 4/12: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, XLM

Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012 and 2016, the strategist called the current price action “tame.’

According to McGlone, Bitcoin is “still in price-discovery mode” and its plateau is still far away.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
UNI/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView
LINK/USDT daily chart. Source: TradingView
XLM/USDT daily chart. Source: TradingView

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