Price Analysis 9/15: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA

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Bitcoin (BTC) is leading the recovery in the crypto sector and today the cryptocurrency briefly rallied to $ 48,429 before retreating to test underlying support levels.

Speaking during a live broadcast at the SALT conference, Ark Invest CEO Cathie Wood said that Bitcoin is the default currency in the crypto space and could increase tenfold at over the next five years.

Its projection is based on the presumption that Bitcoin will find a place in the balance sheets of many companies and institutional investors will increase their allocation to Bitcoin and other cryptocurrencies to around 5%.

Several traditional finance companies have recognized the growing demand for digital assets and are increasing their crypto offerings to meet it. Morgan Stanley recently created a new crypto-focused research division “in recognition of the growing importance of cryptocurrencies and other digital assets in global markets.”

Daily performance of the cryptocurrency market. Source: Coin360

Further positive news came from executives at Fidelity Investments who apparently met with several U.S. Securities and Exchange Commission officials and stressed the importance of why a Bitcoin exchange-traded fund should be approved. Executives pointed to the increasing rate of adoption of Bitcoin, approvals of similar funds in other countries, and the growing demand for digital assets.

Can bitcoin and altcoins support the current rebound? Let’s analyze the charts of the top 10 cryptocurrencies to find out.