Bitcoin 

BTC

$20,831

 is leading the recovery in the crypto sector and the cryptocurrency briefly rallied to $48,429 on Sept. 15, before pulling back to test the underlying support levels.

While speaking during a live stream at the SALT conference, Ark Invest CEO Cathie Wood said that Bitcoin is the default currency of the crypto space and could rise tenfold in the next five years.

Her 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 about 5%.

Several legacy finance companies have realized the growing demand for digital assets and are increasing their crypto offerings to fulfill that demand. Morgan Stanley recently set up a new crypto-focused research division “in recognition of the growing significance of cryptocurrencies and other digital assets in global markets”.

Additional positive news came from Fidelity Investments executives who apparently met several United States Securities and Exchange Commission officials and stressed the importance of why a Bitcoin exchange-traded fund should be approved. The executives pointed to the increasing rate of Bitcoin adoption, the approvals 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.