The cryptocurrency market has restored the bullish path. On average, the market grew 4.5 percent over the past 24 hours, and Bitcoin (+2.14%) regained its $9,000 range again. Ethereum-based tokens also move up, although some, such as LINK (-1.41%), find resistance at these levels, which prevents them from moving upwards.
The market capitalization of the market grew by 4.45 percent to 260.718 billion, and trading volume over the past 24 hours amounted to 46.932 billion, an increase of 20.5 percent compared with yesterday’s record of 38.95 billion. The dominance of Bitcoin has not altered much and amounts to 63.69% at the time of this writing.
Since an almost 5 percent raise, the price of Bitcoin found resistance around $9,200; while it bounced off $9,190 and received support at the $10,000 low neckline line of its inverted H & S pattern (head and shoulder pattern).
BTC is currently making a morning star candle and is again trying to challenge the $9,200 level, so we anticipate even more growth on the BTC. A breakthrough of resistance at $9,200 will lead to a level of $9,500.
BTC/USD is moving within a near-term bullish trend, although volatility stays low.
Ethereum is at present breaching the $235 resistance level and appears to be moving up and attacking the next $248 resistance level. The price is posting higher highs, although it has to overcome the MA 200, staying as a resistance. The pair is presently trading at 2% gains daily amid near-term bullish momentum.
Ripple’s (XRP) is quite trending within the range. The price bounced many times from the high of its range, at the level of $0.244 level, although the upward movement is very limited. However, we quite believe that it can rise spontaneously to approach the $0.268 level, which is merging with the MA 200. The digital asset has escaped from a narrow range.
In the past few hours, Chainlink has proceeded in the range, rallying between $4.60 and $4.88. The price is quite beyond the key MA of 50 and 200, as well as all the levels indicate a positive slope; Thus, the uptrend is positive, and LINK is wholly on a path of extension.
Professor Steve Hanke of Johns Hopkins University came out with another dystopian prediction about Bitcoin. He said in a recent tweet that Bitcoin should be avoided at all costs because the North Korean dictator uses it to fund his nuclear ambitions.
Different week, some other scam on #Bitcoin. Aside from being incredibly unpredictable and unreliable, this highly questionable “asset” is now helping to finance the #North Korea nuclear initiative. Stop the plague-like it is.
His tweet appeared in response to the Wall Street Journal report, which reported that two Chinese nationals allegedly helping North Korean hackers launder stolen Bitcoins worth $100 million had been detained by the US government.
Image Credits: COIN 360, Shutterstock
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