Did you know that the total market capitalization of all cryptocurrency markets combined is now larger than $200 billion? And this number…Continue reading on Medium »
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Aptos launched with a speed of less than 10 transactions per second. Well, that’s some distance from the promised 160,000 transactions per…Continue reading on Medium »
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Bitcoin price started a downside correction from $21,000 against the US Dollar. BTC could start a fresh increase if it remains stable above the $20,000 support. Bitcoin is slowly moving lower from the $21,000 resistance zone. The price is trading below $20,500 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $20,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another upward move if it stays above the $20,000 support zone. Bitcoin Price Starts Downside Correction Bitcoin price made another attempt to clear the $21,000 resistance zone. However, BTC failed to gain momentum above the $21,000 resistance zone. A high was formed near $21,074 and the price started a fresh downside correction. There was a move below the $20,600 and $20,500 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $20,029 swing low to $21,074 high. Bitcoin price is now trading below $20,500 and the 100 hourly simple moving average. There is also a key declining channel forming with resistance near $20,700 on the hourly chart of the BTC/USD pair. The price is now holding the $20,450 support zone. It is close to the 61.8% Fib retracement level of the upward move from the $20,029 swing low to $21,074 high. On the upside, an immediate resistance is near the $20,600 zone and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com The first major resistance sits near the $20,700 level and the channel trend line. The next major resistance is still near $21,000. A clear move above the $21,000 resistance might start a steady increase towards the $22,000 resistance. Any more gains open the doors for a test of the $22,500 resistance zone. More Losses in BTC? If bitcoin fails to rise above the $20,700 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,450 zone. The next major support is near the $20,200 zone. The main support sits at $20,000. A downside break and close below $20,000 might open the doors for a substantial decline in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $20,200, followed by $20,000. Major Resistance Levels – $20,600, $20,700 and $21,000.
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New Cryptocurrency Coin Up For Trade on BitKan Crypto Exchange!Continue reading on BitKan Blog »
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🥳 Kommunitas is extremely excited to hold our Priority IKO with Tago!(Read about KOM Priority Project here…Continue reading on Medium »
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Notably, the first half of the year brought the most drastic phase of crypto winter ever witnessed in the history of cryptocurrency. Coupled with the collapse of Terra and some crypto-related companies, the market was thrown into a state of crisis. Related Reading: Bitcoin Price Aims For $21,000, Will There Be A Wider Trend Change? However, a report from Fidelity Digital Assets implies that the crypto fundamentals remained unscathed through the bearish trend. This information sprung following the manager’s annual report tagged 22 Institutional Investor Digital Assets Study. This occurred as the firm x-rayed the crypto industry from an institutional perspective. According to the research, the crypto market has fully repositioned to wade off the impact of macroeconomics it’s been facing recently. Survey Indicates Strength Of Crypto Fundamentals Tom Jessop, the President of Fidelity Digital Assets, reacted to the research. According to him, digital fundamentals have stood firm through the storm. Also, he noted that the institutionalization of the crypto market for some years had fortified it to withstand recent impacts. According to Jessop, institutional investors exhibited their experience scaling through different market cycles. He mentioned that the attractive factors in the market maintained their relevance as they moved across the bearish phase. The research surveyed about 1,052 experts from different firms during the year’s first half. As a result, it revealed the varying levels of crypto adoption among different types of investors. According to the survey, adoption among institutional investors increased in some regions compared to the year’s value. The US and Europe recorded an increase of 42% and 67%. Asian institutional investors have a slight drop. But the overall outcome showed that they had the highest adoption of crypto assets with an allocation of 69%. In terms of investor type, crypto adoption and consideration topped among high-net-worth investors, venture capital investors, financial advisors, and crypto hedge funds. The lower-scale adoption investors are endowments and foundations, pension plans, family offices, and traditional hedge funds. Fidelity Digital announced its provision of Ethereum trading options for its institutional market earlier this month. Top Appealing Features For Institutional Investors The research from Fidelity Digital also recorded some appealing features, as noted by institutional investors. The surveyed participants’ most appealing ones include innovation technology, decentralization, and high potential upsides. According to the survey, the surveyed investors cited that crypto has no correlation to other assets as the fifth most appealing feature. But the crypto markets have shown a high correlation to tech stocks this year. Additionally, the research covered investors’ plans for cryptocurrency investments or purchases. It noted that 74% of the participants still had such plans, slightly higher than the 71% recorded last year. Related Reading: Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite Chance To Take Profit The value is commendable, considering that 2021 was bullish while the bears dominated the 2022 digital asset market. Featured Image From Unsplash, Charts From TradingView
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สำหรับนักลงทุนคริปโตหลายคน “การเงิน” เป็นคำศัพท์ทั่วไป อย่างไรก็ตาม มันซับซ้อนและท้าทายสำหรับนักลงทุนส่วนใหญ่ในระบบการเงินแบบเดิม…Continue reading on Medium »
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Elon Musk is an American entrepreneur and entrepreneur who became an X.com in 1999 (which later became PayPal), SpaceX in 2002 and Tesla…Continue reading on Medium »
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Hong Kong announces plans to consult on allowing retail investors to gain access to the crypto sector. The city has a goal of becoming a global center for crypto-related businesses.
The post Hong Kong regulator to launch consultation on giving retail investors access to crypto appeared first on The Block.
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Today is Halloween, and once again that means that the month is coming to an end. It’s hard to believe how fast this year is flying by…Continue reading on Coinmonks »
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