Bitcoin and Ethereum seek out higher support line, Dogecoin (DOGE) continues to soar

Bitcoin is showing strong signs of consolidation above US$20,000 as the week progresses. Another half a percent was added this morning, bringing bitcoin slightly higher to US$20,600.

Timeline of Bitcoin, Dogecoin, Ethereum

Elon Musk has revealed the news and made hints that Dogecoin (DOGE) will soon be available on the Twitter network. Elon Musk recently tweeted a picture of a Shiba Inu dog wearing a Twitter t-shirt.

Microstrategy, which continues to be the company with largest Bitcoin holding, is scheduled to report quarterly earnings on Tuesday. The company's BTC holdings are currently incurring around 50% unrealized loss over the total investment made to purchase Bitcoin.

Bitcoin [BTC] managed to surpass the $19,000 level towards the end of October. The king coin was constrained to this level for the longest time and made several attempts to move past it.

On 30 October 2022, James Mullarney, the host of the very popular YouTube channel “InvestAnswers”, explained why he expects the Bitcoin price to go above $63,000 by the next block reward halving.

A bullish start of the month! During the last week of October the global crypto market cap moved past $1 trillion and since then the bulls are trying its best to maintain the mark.

Since Bitcoin has been trading above the psychological price of $20K, Glassnode has released its weekly on-chain report titled “Hammering Out The Bottom,” scrutinizing the stakes and the risks that may lay on the road ahead.

Veteran trader Tone Vays is reversing his outlook on Bitcoin (BTC), no longer forecasting an imminent collapse as he had earlier this month. In a new strategy session, Vays tells his 123,000 Youtube subscribers that he is now leaning bullish after Bitcoin and the crypto market traded higher in recent days.

Following Elon Musk's Twitter acquisition confirmation last week, the price of Dogecoin (DOGE) went through the roof. For the first time since May of this year, DOGE surpassed the $0.01 mark and temporarily exceeded $0.14.

The Bitcoin price is trading in the green during the Asian session, near $20,534 after bouncing off the $20,265 support level. Similarly, Ethereum has increased by less than 0.50% to $1,594 and is on its way to the 78.6% Fibonacci retracement level.

Elon Musk is yet again in the spotlight as the speculation of Dogecoin's acceptance for Twitter appears to be very close. Earlier, Tesla's CEO led the global space on fire by completing the Twitter acquisition and firing the top 3 executives in one go.