Bitcoin (Bitcoin) Is leading the recovery of the cryptocurrency industry. The cryptocurrency briefly rose to $48,429 on September 15 and then fell back to test potential support levels.

In a live broadcast of the SALT conference, Ark Invest CEO Casey Wood stated that Bitcoin is the default currency in the crypto space and can be Tenfold in the next five years.

Her prediction is based on the assumption that Bitcoin will have a place on the balance sheets of many companies, and institutional investors will increase their allocation of Bitcoin and other cryptocurrencies to about 5%.

Several traditional financial companies have realized the growing demand for digital assets and are increasing their encryption products to meet this demand.Morgan Stanley recently established a New research department focused on cryptocurrency “Recognize the increasing importance of cryptocurrencies and other digital assets in the global market.”

Daily cryptocurrency market performance. source: Coin 360

The executives of Fidelity Investments apparently met several SEC officials and emphasized why Bitcoin exchange-traded funds should be approvedExecutives pointed to the increasing adoption rate of Bitcoin, the approval of similar funds in other countries, and the growing demand for digital assets.

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