Analysts talk about the situation of the crypto market amid the growth of ETH and BTC

According to Coinmarketcap data, the price of the main digital coin has crossed the $21,200 mark. Over the past 7 days, bitcoin has risen in price by 3%.

But the growth in the value of altcoins is much higher. The price of ETH rose by 6.8% to $1,219, BNB by 10% to $238. And XRP rose by 11%, rising above the $0.36 mark.

The head of the analytical department at AMarkets, Artem Deev, believes that there is a rebound in the digital asset industry when investors are faced with a negative trend, but the market has “worked out” it and cryptocurrencies are recovering slightly.

“But there are still no factors for growth. We should expect that either cryptocurrencies will add a little in the absence of drivers for growth, or they will slightly decrease on the statistics from the USA. This will be a short-term phenomenon, unless something extraordinary happens,” said Artem Deev.

BitRiver financial analyst Vladislav Antonov believes that due to the fact that cryptocurrencies are currently closely interconnected with the US stock market, investors will closely monitor US macro statistics during the current week.

“From the statistics, it is worth paying attention to data on orders for durable goods, the third estimate of GDP for the first quarter, personal income and expenses of Americans, consumer spending price indices (a key inflation indicator for the Fed) and the ISM business activity index in industry,” — noted the expert.

In addition, US Federal Reserve Chairman Jerome Powell, European Central Bank Chairman Christine Lagarde and Bank of England Governor Andrew Bailey are due to speak this Wednesday. Their statements, according to Vladislav Antonov, can provoke an increase in volatility in the financial sector, including the crypto market.

What are you expecting from this week?