Bitcoin and Ethereum Could See 5% Gains Before Weekend: Experts

• Bitcoin and Ethereum have been experiencing choppy trading over the past few days, possibly due to the Chinese Lunar New Year.
• Fantom (FTM), eCash (XEC), and Polygon (MATIC) were the top performers in the last 24 hours, while Threshold (T), Optimism (OP), and Lido DAO (LDO) were the top losers.
• The US GDP numbers exceeding expectations led to a brief rally in the cryptocurrency prices, but it was short-lived due to the still tight labor market and speculation that the Federal Reserve may keep interest rates high for a longer duration.

Recent days have seen Bitcoin and Ethereum experiencing choppy trading, possibly due to the Chinese Lunar New Year, as Asian investors are out on holiday. Investors are now wondering whether these two major cryptocurrencies could break out for 5% gains before the weekend. To explore this possibility, we must first take a look at the current market conditions and how the top altcoins have been performing.

Fantom (FTM), eCash (XEC), and Polygon (MATIC) were the top performers in the last 24 hours. FTM’s price has increased by more than 13.50% to $0.46, while XEC’s price is up by nearly 7% to $$0.000041. At the same time, MATIC has gained just under 10% to trade at $1.09. On the other hand, Threshold (T) has dropped around 7.50%, to $0.055; however, it is still up nearly 150% in the last seven days. Optimism (OP) has decreased by over 10%, to around $2.15, and Lido DAO (LDO) has declined by about 8.85%, to $2.30.

The US GDP numbers exceeding expectations led to a brief rally in the cryptocurrency prices. However, this rally was short-lived due to the still tight labor market and speculation that the Federal Reserve may keep interest rates high for a longer duration. Moving forward, the release of US jobless claims data tomorrow could lead to further volatility in the crypto markets.

Despite the choppy trading conditions, some experts are predicting that Bitcoin and Ethereum could breakout for 5% gains before the weekend. They point to the fact that both coins have maintained their positions within the top 10 in terms of market capitalization, and that the recent dip in prices could provide an opportunity for investors to buy in at a discount. Additionally, there is optimism that the US economy will continue to recover from the pandemic, which could lead to increased demand for these digital assets.

Ultimately, it is difficult to make an accurate prediction as to whether or not Bitcoin and Ethereum will breakout for 5% gains before the weekend. Investors should do their own research and use their own judgment when deciding whether or not to invest in these cryptocurrencies. In the end, it is important to remember that cryptocurrencies are highly volatile and that investing carries inherent risks.